Good MorningEquities extended their selloff on Wednesday with the S&P 500 falling more than 1.50% to the lowest level in over a year. The move was driven by a hotter than expected CPI read and took the index firmly below the 4,000 level. The CPI came in at 8.3% YOY or up 0.2% from the previous month putting an end to the idea that inflation had peaked. The next big hurdle for the market will come today in the form of the PPI index. The PPI index is also expected to subside on a month-to-month basis but may come in much hotter than expected.
With inflation on the rise, the FOMC will come under even more pressure to act. Although the Fed has said it won't hike rates by 75 basis points we feel it is on the table now. The risk for the market is not pricing in a recession because it looks like one is on the way.
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Technology | |
Glass and optical technology products producer Corning (NYSE: GLW) stock has been very resilient as it is only down (-1%) versus down (-23%) for the Nasdaq 100 index. The maker of Gorilla Glass, COVID-19 vaccine vials, and glass substrates used for LED displays and optical fiber, is riding a numbe... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Consumer Staples | |
If the company continues to maintain its pricing power, BUD stock may be a shrewd buy
Equities continue to whipsaw back and forth which makes the near-term outlook for buying stocks a little dicey. And calling a bottom or top is always a fool’s errand. In fact, many investors can use a dri... Read the Full Story |
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Markets | |
Small-Cap Wolverine Worldwide Is A Deep-Value
The shoe business has been good for Wolverine Worldwide (NASDAQ: WWW) and it should continue to be good for the remainder of the year. The company’s business is supported by secular trends that should sustain growth in the high teens this year ... Read the Full Story |
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From Our Partners | | More than 25 candidates were screened for share price between $1 and $5, market cap above $100 million, daily volume over 500,000 shares, and over $10 million in trailing revenue.
Only five stocks cleared every filter, spanning five different sectors. Two are profitable today, and one pays a substantial dividend.
The report also flags what could go wrong with each pick, including dilution and convertible debt. | | See the five stocks that survived this strict revenue screen |
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Markets | |
Should you hold dividend stocks long term?
Yes, dividend growth could be a great option if you want to take advantage of dividend payouts. The dividend growth rate, or the percentage of growth of a particular company's stocks over a period of time, can give you a great hint as to whether dividend... Read the Full Story |
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Consumer Discretionary | |
Wendy’s Falls On Weak Results And Guidance
Wendy’s (NASDAQ: WEN) is still growing but the growth story propelling the stock has come to an end. The company’s Q1 earnings report reveals that not only is revenue growth slowing in the face of a growing store count but inflation co... Read the Full Story |
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Consumer Discretionary | |
There’s no reason to chase these stocks on the way down, but keep an eye on park attendance
Investors expecting any relief from inflation will have to wait a little longer. The Consumer Price Index (CPI) showed inflation slightly lower on a year-over-year basis. However, by any metric, thi... Read the Full Story |
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Consumer Staples | |
Beyond Meat Is Ripe For A Short-Squeeze
Beyond Meat (NASDAQ: BYND) is sitting on a 38% short interest ahead of its Q1 earnings release and that leads us to believe the stock could pop in the wake of the results. The short-interest is driven by a very negative sentiment that views the company as ... Read the Full Story |
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Consumer Staples | |
Reynolds Consumer Products Feels The Sting Of Inflation
If you need more than the CPI report to know that inflation hasn’t peaked take a look at the Reynolds Consumer Products (NASDAQ: REYN) Q1 earnings report. The company reported a slightly better than expected margin but has yet to reco... Read the Full Story |
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Finance | | It’s been death by a thousand cuts for shareholders of crypto exchange Coinbase (NASDAQ: COIN), whose shares went public just over a year ago and have only traded lower since. Was it a sign of things to come, and an indicator that the party was over for high-flying tech companies? Though hinds... Read the Full Story |
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Finance | |
Regional bank and financial services company Fifth Third Bancorp (NASDAQ: FITB) stock has been plunging with the benchmark indices. The bank was selected as one of Ethisphere’s “World’s Most Ethical Companies” for the third year. The Company has achieved the lowest CRE and ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Energous Corporation provides wireless charging system solutions in the United States. The company develops WattUp wireless power networks technology that consists of semiconductor chipsets; software controls; hardware designs; and antennas that enables radio frequency-based charging for Internet of Things devices. Its products are used in asset trackers; sensors; retail displays; and security devices; smart home; medical; industrial; and other sensors; electronic shelf labeling; logistics and asset tracking tags and sensors; computer mice and keyboards; remote controls; gaming consoles and controllers; hearing aids; rechargeable batteries; automotive accessories; smart textiles; wearables; and medical devices. The company was formerly known as DvineWave Inc. and changed its name to Energous Corporation in January 2014. Energous Corporation was incorporated in 2012 and is headquartered in San Jose; California. | | View Today's Stock Pick |
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