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: The 7 Stocks Quietly Gaining Attention Right Now (Ad) 
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Technology | |
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, the... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
While the One Big Beautiful Bill Act eliminated federal credits for solar, wind, and EVs, this energy source was reclassified alongside oil and nuclear power and given eight years of tax credits. Google signed a 15-year contract, and Bill Gates committed $100 million.
One company controls the entire supply chain behind this discovery. | | See the ticker behind this Grand Canyon energy breakthrough now |
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Technology | | 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 GlobalF... Read the Full Story |
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Technology | |
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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From Our Partners | | Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies.
Dr. Mark Skousen, who met Musk in person and called the SpaceX listing months early, says he has identified all three targets in what he calls Elon's $2.1 Trillion Hit List.
See the three companies before the rumors become headlines. | | Get the details on all three companies now |
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Technology | | 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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Consumer Discretionary | |
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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From Our Partners | | Porter Stansberry flew the Porter and Co. team 3,300 miles to Dublin to investigate a 17-year investing experiment called Project Prophet - and documented everything on film.
Rooted in the laws of physics, this quantitative approach challenges conventional wealth-building wisdom. With 17 years of verified data behind it, Porter calls it unlike anything he has seen in nearly 30 years in the business. | | Watch the full investigation and decide for yourself |
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Markets | | Warehouse clubs have been the darling of Wall Street this year as consumers flock to find bargains during uncertain economic times. This has been evidenced by the strong performance in names like Costco Wholesale (NASDAQ: COST), Walmart (NYSE: WMT), small box warehouse retailer Dollar General (NYSE:... Read the Full Story |
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Industrials | |
The insiders and institutions are buying Fastenal (NASDAQ: FAST) and there is more reason than one to be bullish on the stock. The number 1 reason right now is the upcoming dividend declaration and payment that is expected in January 2023. If the company follows through on its trend and raises the... Read the Full Story |
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Technology | | Customer relationship management software giant Salesforce (NASDAQ: CRM) shares tanked (-10%) on a bullish Q3 2022 earnings report but Q4 guidance was mixed. The Company beat analyst expectations as shares initially popped but then sank upon the announcement that Salesforce Co-CEO Bret Taylor would ... Read the Full Story |
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Technology | | U.S. semiconductor producer Intel (NASDAQ: INTC) stock is trading at price levels not seen since 2016. While shares rallied after a strong earnings report, the guidance was exceptionally weak, but shares have managed to grind higher despite the warnings. The markets may have finally started to belie... Read the Full Story |
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Healthcare | | Approaching the final week of November CSL Ltd ADR (OTCMKTS: CSLLY) received some good news as the United States Food and Drug Administration approved CSL Behring's new gene therapy drug, HEMEGENIX (etranacogene dezaparvovec-drib) for treating hemophilia B. The news helped continue the stock's upwar... Read the Full Story |
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Tuesday'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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