Good MorningThe sell-off on Wall Street gained momentum on Monday with the S&P 500 falling roughly 3.5% at the low of the session and setting a new low below 4,100. This is the lowest level the index has traded in over a year and has the market set up for a much deeper fall. Now that the 4,100-4,200 support level has been breached there is a risk that traders and investors who had been buying at that level will become sellers. In that scenario, the 4,100 will become strong resistance that could keep the market from moving higher over the next few quarters.
The next big hurdle for the market will come tomorrow with the release of the CPI index. The Consumer Price Index is expected to advance as much as 0.5% from the previous month and drive another 8.0% or greater increase in YOY inflation on top of last year's mid-single-digit increase. the takeaway is that CPI data will raise the stakes for the Fed and may lead them to go back on their word and bring a 75 basis point interest rate hike to the table. Featured: See the Daily 10AM setup for 4PM payouts (Ad) 
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Tech | | | Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year.
The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.
The S&... Read the Full Story |
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Markets | | | Most Asian stock markets fell while Europe opened higher Tuesday as anxiety increased that U.S. interest rate hikes to fight inflation might stall economic growth.
London, Frankfurt and Shanghai rose. Tokyo, Hong Kong and Sydney declined. Oil prices advanced.
Wall Stree... Read the Full Story |
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Markets | | | Asian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate increases to fight inflation might stall economic growth.
Market benchmarks in Tokyo, Hong Kong, South Korea and Australia fell. Shanghai advanced. Oil prices fell more than $1 but stayed above $100 per ... Read the Full Story |
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Markets | | |
More than one in four S&P 400 constituents are down at least 20% this year. On the flip side, less than two dozen names are up 20% or more year-to-date.
The rough start to 2022 for U.S. stocks is evident in virtually all broad indices (energy-focused benchmarks aside). Yet it is the mid... Read the Full Story |
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Politics | | | LVIV, Ukraine — Ukrainian officials say around 100 civilians still remain trapped at the Azovstal steel mill in Mariupol despite earlier reports that all have been evacuated.
Donetsk regional governor Pavlo Kyrylenko said in televised remarks on Tuesday those left behind are the civil... Read the Full Story |
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Politics | | | PARIS — French President Emmanuel Macron and Hungarian Prime Minister are scheduled to talk about a potential European Union ban on oil imports from Russia, according to Macron’s office.
European Commission President Ursula Von der Leyen will also attend the meeting, which is taking p... Read the Full Story |
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Stocks | | | It is times like this when following the money can give the best returns and the money is flowing toward Cigna (NYSE: CI). The company released a better than expected earnings report and raised its guidance sparking yet another wave of analysts upgrades and price target revisions. Read the Full Story |
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Stocks | | |
Robotic surgery systems solutions provider Intuitive Surgical (NASDAQ: IRSG) stock is down (-37.5%) on the year as benchmark indices slide. The provider of robotic da Vinci Surgical Systems was still able to grow revenues by 15.1%. Its fiscal Q1 2022 performance was impacted by the resurgence of t... Read the Full Story |
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Stocks | | | Lordstown Motors (NASDAQ: RIDE) has been in a protracted downtrend along with the rest of the EV market and that downtrend is not over yet. While Lordstown Motors issues a better than expected report the headlines are about all the good news there is. Read the Full Story |
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Markets | | | Johnson Outdoors (NASDAQ: JOUT) is a blue-chip quality outdoor recreation stock with two things to be aware of. The first is that demand is high across all segments and driven by secular tailwinds that have nothing to do with COVID-19. Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Elevance Health, Inc., together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits. The company operates in the pharmacy services business; and markets and offers pharmacy services, including pharmacy benefit management, as well as home delivery and specialty pharmacies, claims adjudication, formulary management, pharmacy networks, rebate administration, a prescription drug database, and member services. In addition, it provides healthcare-related services and capabilities, including utilization management, behavioral health, integrated care delivery, palliative care, payment integrity services, subrogation services, and health and wellness programs, as well as services related to data management, information technology, and business operations. Further, the company is involved in the National Government Services business. The company provides its services under the Anthem Blue Cross and Blue Shield, Wellpoint, and Carelon brand names. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health, Inc. in June 2022. Elevance Health, Inc. was incorporated in 2001 and is headquartered in Indianapolis, Indiana. | | View Today's Stock Pick |
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