Good MorningEquities started October and the 4th quarter on solid footing following a week of significant decline. The S&P 500 advanced more than 3.0% at the high of the day and it may move higher in the near term. Good news from GM and the oil patch are helping to support the action and could lift spirits as the peak of Q3 reporting approaches. GM announced it sold 25% more cars this year than last as supply chain issues eased while oil prices rose more than 3.5% on news OPEC+ would cut production by a million barrels this month.
The news from OPEC+ carried through to the oil industry and the XLE which led the market throughout the day. The XLE advanced more than 5.0% on the idea that higher oil and gas prices will translate into strong earnings for the energy sector. The takeaway for the market should be, however, that any improvement to the earnings outlook will be because of oil and energy stocks and not an improvement in the broad economy. Featured: Is Elon's empire crumbling? (Ad) 
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Retailer marketplace and technology applications behemoth Amazon (NASDAQ: AMZN) has grown into a juggernaut of commerce. Amazon is a paragon of the network effect as its ecosystem often induces the same customer to use multiple services simultaneously without a second thought. Amazon is the #1 Top... Read the Full Story |
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From Our Partners | | New Hampshire just launched a Strategic Crypto Reserve — and James Altucher says it’s the first sign that “Trump’s Great Gain” has officially begun.
Altucher believes select cryptos could turn $900 into $108,000 over the next 12 months — and he’s laying out the full gameplan in a new presentation. | | See Altucher’s Trump crypto prediction here |
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Markets | | | Small-cap biotech Catalyst Pharmaceuticals (NASDAQ: CPRX) has been outperforming the broader market, amid recent earnings and revenue acceleration.
The company also got some good news last month, as it joined the S&P 600 Small-Cap index, replacing defense contractor ManTech, which was acquired ... Read the Full Story |
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When Americans are out and about and see electric vehicles, it’s common to see those made by Tesla (NASDAQ: TSLA) or every once in a great while, Rivian (NASDAQ: RIVN). Meanwhile, legacy automakers like Ford (NYSE: F) and General Motors (NYSE: GM) are rolling out their own versions of electr... Read the Full Story |
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From Our Partners | | Tesla's About to Prove Everyone Wrong... Again
Back in 2018, when Jeff Brown told everyone to buy Tesla…
The "experts" said Elon was finished and Tesla was headed for bankruptcy.
Now they're saying the same thing, but Jeff has uncovered Tesla's next breakthrough. | | Click here to see why Tesla's about to prove everyone wrong... again. |
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Markets | | | Billionaire Warren Buffett's successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead.
Berkshire Hathaway Vice Chairman Greg Abel on Monday disclosed buying 168 Class A shares in the company in a filing with the Securities and Exchange Commis... Read the Full Story |
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Politics | | | The U.K. government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.
In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans... Read the Full Story |
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Genome sequencing solutions company Illumina (NASDAQ: ILMN) stock has fallen under its pandemic lows. A surprise earnings miss, and lowered guidance has caused shares to spiral down (-49%) for the year. The Company leads the market with its next-generation genome sequencing systems and analysis to... Read the Full Story |
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Markets | | | Cigarette manufacturer ITG Brands assumed liability for tobacco settlement payments to the state of Florida when it acquired four brands from Reynolds American in 2015, a Delaware judge has ruled.
Vice Chancellor Lori Will ruled Friday that, as a result, ITG must compensate Reynolds A... Read the Full Story |
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Politics | | | The CEO of American Airlines said Monday that his airline needed a partnership with JetBlue because Delta Air Lines had bulked up through a merger sooner than American, had more takeoff and landing rights at New York airports, and fewer unionized workers.
Robert Isom also conceded tha... Read the Full Story |
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Politics | | | Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren, giving the public its first glimpse into the growing problems at Zelle.
The report also found that the ... Read the Full Story |
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Kate’s guest today on The MarketBeat Podcast is Kirk McDonald, portfolio manager at Argent Capital Management. Today, Kirk has three stocks to discuss, all from different industries with different market caps. He explains why each is a holding in his portfolio, and how investors should... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry. The Infrastructure segment provides on-premises and cloud based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, facilitates IBM clients' acquisition of hardware, software, and services. The company has a strategic partnership to various companies including hyperscalers, service providers, global system integrators, and software and hardware vendors that includes Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York. | | View Today's Stock Pick |
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