Good MorningEquities resumed their decline on Thursday following weaker than expected results from FAANG stocks Facebook and Amazon. Facebook led the fall with a 20% plunge that puts the stock deep into correction territory. The biggest takeaway from the reports is that COVID-19 induced tailwinds are no longer blowing. The S&P 500 fell nearly 2.5% at the end of the session with the NASDAQ Composite down 3.75%.
Friday's trading will be all about the Non-Farm Payroll report. The report is expected to be much weaker than first speculated due to the weak ADP report on Wednesday. If the report confirms the market's fears the selloff could deepen. The best-case scenario is a retest of the recent lows followed by another rebound. The Worst-case is that support will fail and the market will enter a prolonged contraction that could wipe another 20% of value off the books. Featured: The Morning Panic (Can You Spot it?) (ProTrading Research) 
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Markets | | | Shares in Europe and Asia were mostly higher Friday after a historic plunge in the stock price of Facebook’s parent company yanked other tech stocks lower on Wall Street.
Shares rose in Paris, London and Tokyo. Hong Kong jumped 3.3% after reopening from Lunar New Year holidays. Tradi... Read the Full Story |
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Markets | | |
More than 400 new exchange-traded funds (ETFs) were launched last year. According to Morningstar, new funds hauled in approximately $800 million as the popularity of the one-size-fits-all investment vehicle continued to soar in 2021.
That momentum is expected to carry over into 2022. Experts say ... Read the Full Story |
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Stocks | | | Since gaming stocks are part of the consumer discretionary sector, they have volatility and unpredictability. This means that economic changes and their cyclical nature can affect them, but many gaming stocks are currently undervalued. Read the Full Story |
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Tech | | | Meta is putting a lot of virtual eggs — and billions of dollars — into the metaverse basket, and Wall Street is pretty anxious about it.
Shares of the company formerly known as Facebook saw a historic plunge Thursday after the social media giant reported a rare profit decline due to ... Read the Full Story |
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Markets | | | While markets have been on a volatile streak to start the year 2022, there are still some bright spots that investors should be paying attention to. Several underrated companies are quietly delivering plenty of alpha and posting impressive earnings, Read the Full Story |
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Tech | | | Lawmakers wondered aloud Thursday how a showdown between two federal agencies over the rollout of new high-speed wireless service reached crisis proportions last month, but they were short on answers to a dispute that raised concerns about interference with key equipment on some planes.
... Read the Full Story |
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Markets | | | Meatpacking giant JBS has agreed to a $52.5 million settlement in a beef price-fixing lawsuit that some say supports their concerns about how the lack of competition in the industry affects prices.
Colorado-based JBS didn't admit any wrongdoing as part of the settlement, and company s... Read the Full Story |
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Markets | | | A planned $3.4 billion coal-fired power plant in Dubai instead will be converted to use natural gas, the sheikhdom announced, amid the United Arab Emirates' wider pledge to have net-zero carbon emissions by 2050.
The announcement Thursday came in a statement quoting Sheikh Ahmed bin ... Read the Full Story |
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Stocks | | |
Having been among the quickest of the airlines to get their shares back to pre-pandemic levels, Southwest Airlines (NYSE: LUV) have struggled to keep the momentum in recent months. Their stock’s recovery peaked at the start of last summer, and shares have fallen as much as 40% in the meantim... Read the Full Story |
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Stocks | | | Shares of Ford (NYSE: F) are down in the wake of the Q4 earnings report and we are cheering the move. The decline has the stock trading at a 4-month low and levels almost too good to pass up with the long-term outlook for car sales and EV the way that it is. Read the Full Story |
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Friday's Early Bird Stock Of The Day Sierra Oncology, Inc., a late-stage biopharmaceutical company, engages in researching, developing, and commercializing therapies for the treatment of patients with hematology and oncology needs. Its lead drug candidate, momelotinib, is a selective and orally bioavailable Janus kinase 1 (JAK 1), JAK2, and Activin A receptor type 1 (ACVR1) inhibitor. The company also develops SRA515, a selective bromodomain-containing protein 4 inhibitor; and SRA737, an orally bioavailable small molecule inhibitor of Checkpoint kinase 1. It has the license agreements with Carna Biosciences, Inc. to develop and commercialize SRA141, a small molecule kinase inhibitor targeting Cdc7; AstraZeneca AB; and CRT Pioneer Fund LP. The company was formerly known as ProNAi Therapeutics, Inc. and changed its name to Sierra Oncology, Inc. in January 2017. Sierra Oncology, Inc. was incorporated in 2003 and is headquartered in San Mateo, California. | | View Today's Stock Pick |
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