Good MorningEquity markets began the week in retreat after stronger-than-expected economic data renewed fear of the FOMC. The data included and hotter than expected reads on ISM services and Factory Orders that suggest underlying economic momentum is still strong. the risk now is the FOMC will slow the pace of interest rate hikes but raise the end target and extend the duration of higher rates. In this light, investors should expect to see core FOMC interest rates top 5.25% in 2023, a mortgage to top 10%, and for these conditions to linger well into 2024.
The market may get another shock later in the week. The producer price index is due out on Friday and may be hotter than expected. The takeaway here is that any increase in producer prices will lead to additional increases in consumer inflation down the road. As for the S&P 500, the index fell more than 2.0% at the low of the day, closed near the low of the session and appears to be confirming a new downtrend in stocks. Featured: 66,000% upside on tiny biotech? (Behind the Markets) 
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Politics | | | Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve's difficult fight against inflation.
The S&P 500 fell 1.8%, its third straight drop. The slide more than offset the index's gains ... Read the Full Story |
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Tesla (NASDAQ: TSLA) shares are sliding and there is no one simple answer. The stock split that took effect in August is still weighing on the stock, for one thing, and there are several other headwinds for the market to bear as well. Among them is reports from Bloomberg that Tesla will cut produc... Read the Full Story |
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Politics | | | Stocks are broadly lower on Wall Street in afternoon trading Monday as investors weigh a surprisingly good economic report that highlights the Federal Reserve's difficult fight against inflation.
The S&P 500 fell 2.1% as of 2:46 p.m. Eastern, and was on pace for a third straight d... Read the Full Story |
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From Our PartnersThe Wall Street Journal reports that this medical breakthrough is "Transforming Medicine."
One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price. | | | | Get all the details here > > > |
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The story on Splunk Inc. (NASDAQ: SPLK) isn’t an unfamiliar one.
During the early months of the pandemic, the software stock soared to record highs on the accelerated digital transformation (not to mention stay-at-home trader euphoria).
As normalization and Fed rate hikes then set in... Read the Full Story |
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Politics | | | Major Western measures to limit Russia's oil profits over the war in Ukraine took effect Monday, bringing with them uncertainty about how much crude could be lost to the world and whether they will unleash the hoped-for hit to a Russian economy that has held up better than many expected under sancti... Read the Full Story |
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From Our PartnersInvestors are making an absolute killing on the global EV boom by investing directly in the world's future suppliers of lithium, aka the "white petroleum." The global lithium battery market is now on pace to eclipse $100 Billion by 2024. Here's a tiny, unknown 25-cent stock that just secured two key lithium assets nearby to Tesla's Gigafactory in Nevada. | | | | Grab it while it's still cheap. |
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Politics | | | The major freight railroads now face pressure from investors to add sick days after Congress declined to require them as part of the contracts they imposed last week to avert a potentially devastating nationwide rail strike Read the Full Story |
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CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a prime example of what can happen when the herd mentality turns bearish. The cybersecurity stock fell to a 52-week low last week as the market slammed a third quarter earnings report that would’ve been applauded in a stronger economy.
Contrary to... Read the Full Story |
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Politics | | | At Gov. Gavin Newsom's prompting, California lawmakers kicked off a special legislative session on Monday to consider punishing big oil companies for their supersized profits during a time of record-high gas prices — the start of a likely lengthy process that will test the liberal Legislature's reso... Read the Full Story |
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Markets | | | Contract semiconductor manufacturer GlobalFoundries (NYSE: GFS) is the fourth largest producer of computer chips producing 7% of the world’s supply. This pales compared to the 53% market share controlled by Taiwan Semiconductor Manufacturing Company (NYSE: TSM). It’s ironic that Gl... Read the Full Story |
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Markets | | | Enterprise data storage solutions provider Pure Storage, Inc. (NYSE: PSTG) stock has been buoyant this year throughout the semiconductor bust cycle. Data storage chip makers and producers experienced normalization as companies pulled back on spending after a strong 2021 rebound. Pure Storage managed... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico. The company also owns and operates midstream infrastructure assets, in the Midland and Delaware Basins of the Permian Basin. Diamondback Energy, Inc. was founded in 2007 and is headquartered in Midland, Texas. | | View Today's Stock Pick |
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