Good MorningEquities rebounded for another day on Tuesday but eager investors are warned to be cautious. The market opened with a big gain near2.0% which were also near the highs of the session. The highs were consistent with the 30-day EMA which provided resistance and capped gains for the day. At the low, the index was up only fractions of a percent and showing a dark candle confirming the downtrend that began in mid-August. If the market follows through on this signal the S&P 500 will retest the 3,500 level and possibly move even lower.
Tuesday was also marked by mixed economic data. The industrial production and capacity utilization figures came in better than expected but were offset by a new low in the home builders index. The NAHB home builders sentiment index hit 38 which is the lowest level since 2012. The gauge contracted on new traffic and the outlook for sales which hit 25 and 35 respectively. With this trend in place, the contraction in housing markets is gaining momentum and may drag the rest of the economy down with it.
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Consumer Staples | | With the broader equity market doing its best to reverse the lows that have done so much damage in recent weeks, investors in Target (NYSE: TGT) haven’t seen a fresh low since June. While shares are still down about 35% from where they started the year, the fact that they’re up the guts ... Read the Full Story |
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Healthcare | |
Shares of Johnson & Johnson (NYSE:JNJ) are down slightly despite the company scoring a double beat for its third quarter earnings. J&J reported earnings per share (EPS) of $2.55 on revenue of $23.79 billion. This was better than the analysts’ forecast for EPS of $2.49 on revenue of $... Read the Full Story |
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Energy | |
Two years ago, little-known PBF Energy Inc. (NYSE: PBF) slid to an all-time intraday low of $4.06. Today, the stock trades around $40. Despite a brief visit to penny stock land, it hasn’t incurred a reverse split.
After crushing the consensus earnings estimate in Q2, the company is getting ... Read the Full Story |
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Markets | |
Like the mountains of Aspen, Colorado, Aspen Technology, Inc. (NASDAQ:AZPN) is displaying some serious elevation.
The large cap software company continues to climb to new record highs, leaving struggling industry peers at the bottom of the slope. It is up 63% year-to-date and all but certain to ... Read the Full Story |
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Consumer Discretionary | | Global hotel operator Marriott International (NYSE: MAR) business has been a rollercoaster ride since the pandemic, but business has recovered better than 2019 pre-pandemic levels. The Company owns and operates 30 brands including luxury names like The Ritz-Carlton, St. Regis, and Bvlgari hotel and ... Read the Full Story |
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Finance | | What does Tuesday’s opening 4% gap-up in Goldman Sachs (NYSE: GS) say about the potential for a sector-wide rally?
The investment banking and asset management giant reported better-than-expected third-quarter earnings of $8.25 per share, topping views of $7.69 per share. That marked a year-ov... Read the Full Story |
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Consumer Discretionary | |
Stanley Black and Decker stock is a Dividend King with many more years of dividend increases ahead of it.
The key takeaway is that Stanley Black and Decker is a trusted company with well-known brands. It has strong cash flows, ample free cash flows and can be expected to continue to pay its divi... Read the Full Story |
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Markets | |
Equities are on their second day of a bear market rally after last week’s steep sell-off. This is the seventh bear market rally of 2022. Bear market rallies take many forms. There have been several examples this year of the market rallying on the hope that bad news for the economy would lead... Read the Full Story |
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Industrials | |
Defense stocks like Lockheed Martin (NYSE: LMT), stocks related to national defense, not defensive stocks, are beginning to look more and more attractive. Not only is there a lingering conflict in Ukraine to whittle down global stockpiles of arms and ammunition but the sector provides some defensi... Read the Full Story |
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Technology | | Despite an 80% drop in share price over the past year, we could be looking at a diamond in the rough with Twilio (NYSE: TWLO). True, it hit a fresh 2-year low last week, but there are signs, both from a fundamental and a technical point of view, that suggest a Q4 rally could be in the making. The Sa... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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