Good MorningEquity markets slipped in early trading on Wednesday but regained the lost ground by the end of the day. The move was driven by a renewed fear of the FOMC offset by some better-than-expected economic data. The ADP employment report and the ISM services index both came in better than expected and point to solid activity within some parts of the economy. The bad news is that strong data will reinforce the Fed's need to raise interest rates. There is still a high probability for a 75 basis point interest rate hike in November and there are still two key reads on inflation before then.
The chart of the S&P 500 shows price action is rebounding and it may continue to rebound but there are risks to be aware of. Wednesday's index action is showing resistance at key levels that could keep it from moving much higher. This resistance is consistent with the June/July bottom and below the 30-day moving average and the top of a downward channel. In this light, traders are better served waiting for the next sell signal than trying to chase the market higher. Featured: The big winner of Crypto week? (Ad) 
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Politics | | | Stocks are down on Wall Street in afternoon trading Wednesday, giving back some of their big gains from earlier this week as rising bond yields amp up pressure on markets again.
The S&P 500 fell 0.4% as of 1:53 p.m. Eastern. The benchmark index is coming off its best two-day rally... 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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Rivian (NASDAQ:RIVN) is taking investors on a wild ride this week. But it has nothing to do with the performance of its electric trucks. The company’s stock is up 3.39% for the week as of this writing. That’s welcome news for investors who have watched the stock decline 64% in the last... Read the Full Story |
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Shares of Lamb Weston (NYSE: LW) have been a hot potato since hitting bottom earlier this year but the meteoric rebound may be over. The FQ1 results are strong and point to solid results in the future, plus a strong dividend payment. However, other factors hang over Lamb Weston stock that may... Read the Full Story |
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From Our Partners | | CPA and CFA says you have WAY too many stocks - just buy these 3
After years working at the biggest accounting firms like Deloitte and KPMG, Joel Litman (who’s also a member of the Global CFA Institute) figured out a unique, less-risky way to grow rich in the stock market. Litman says you don’t need dozens of investments, overpriced advisers, or hedge funds. You just need these 3 stocks, which have helped Litman’s own mom earn 3,400%. | | Click here to view… |
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RPM International (NYSE: RPM) is a bellwether of sorts making coatings and construction products for a wide range of uses. The company just reported a strong quarter and gave favorable guidance that points to peak inflation and widening margins for the S&P 500 but PPG Industries (NYSE: PPG) is... Read the Full Story |
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Tech | | | The former chief security officer for Uber was convicted Wednesday of trying to cover up a 2016 data breach in which hackers accessed tens of millions of customer records from the ride-hailing service.
A federal jury in San Francisco convicted Joseph Sullivan of obstructing justice an... Read the Full Story |
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From Our Partners | | Washington is running out of money…And guess where they'll look next?
When governments go broke, they take from the people.
It's happened before, and it's happening again.
The Department of Justice just admitted that cash isn't legally YOUR property. | | Get your free guide now by clicking here >> |
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Politics | | | Russian President Vladimir Putin signed the final papers Wednesday to annex four regions of Ukraine while his military struggled to control the new territory that was added in violation of international laws.
Ukrainian law enforcement officials, meanwhile, reported discovering more ev... Read the Full Story |
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Markets | | | Tyson Foods will relocate around 1,000 corporate positions from the Chicago area as well as South Dakota to its headquarters in Springdale, Arkansas.
One of the world's largest meat producers said Wednesday that corporate staff at its Chicago and Downers Grove, Illinois, locations and... Read the Full Story |
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Markets | | | A Southwest Airlines pilot is suing the company, her union and a former colleague who pleaded guilty last year to dead-bolting the cockpit door during a flight and stripping naked in front of her.
Christine Janning alleges that Southwest retaliated by grounding her after she reported... Read the Full Story |
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Alzheimer’s Disease remains one of the leading causes of death, and yet the nature of the disease makes finding a cure elusive. But that’s not for a lack of effort. A 2021 report by the research firm Research and Markets projects that the worldwide Alzheimer’s market will be wort... Read the Full Story |
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SGH (NASDAQ: SGH) and Skyworks (NASDAQ: SWKS) are grossly undervalued stocks given the underlying strengths of their businesses. These companies are tech companies but are also deeply exposed to the manufacturing world because of the components they make. That’s right, electronic and digital... Read the Full Story |
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Thursday's Early Bird Stock Of The Day MYT Netherlands Parent B.V., through its subsidiary, Mytheresa Group GmbH, operates a luxury e-commerce platform for fashion consumers in Germany, the United States, rest of Europe, and internationally. It offers womenswear, menswear, kids wear, and lifestyle products. The company sells clothes, bags, shoes, accessories, and fine jewelry through online and retail stores. It serves high-income luxury consumers. The company was founded in 1987 and is based in Munich, Germany. | | View Today's Stock Pick |
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