Good MorningThe rebound in equities gained momentum on Thursday after a series of better than expected earnings from some key retailers. The news highlights the differences in company operations more so than a divide in customer habits as those with resonating brands and omnichannel business models have been outperforming the rest of the retail sector. The caveat for investors is that the news from the retail sector highlights a trend within the broader market as well, that of rotation. The FOMC is on track to raise rates to restrictive levels and that is driving rotation from underperforming names into those well-positioned for the new operating environment.
The risk for the market today is the PCE price index. If the market can get past that we may see a test of resistance at the 4,100 level. If the S&P 500 can get above that level a move back up and into the 4,300 to 4,500 should follow. Next week, the market will be on the lookout for another round of key economic data including the Fed's Beige Book, construction spending, and nonfarm payrolls. Featured: Man who called 2020 Crash: Huge Event in 2022 (Stansberry Research) 
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Markets | | | Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared.
Median pay for the women occupying the corner office rose to nearly $16 million, according to the annual survey done by Equilar for The Associated Pres... Read the Full Story |
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Stocks | | |
Dollar stores are on fire, but does the post-earnings rally have legs?
Shares of Dollar General (NYSE: DG) and Dollar Tree (NASDAQ: DLTR) are rallying the day after both companies reported strong earnings. In late-day trading, DLTR stock was leading the NASDAQ index with a 21% gain. For its... Read the Full Story |
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Markets | | | Asian shares gained Friday as investors cheered a strong set of earnings from retailers that has sent U.S. shares higher.
Benchmarks were rising in early trading across the region, including Japan, China, Australia and South Korea.
“Improved risk sentiments in Wall Str... Read the Full Story |
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Politics | | | Stocks rose broadly in afternoon trading on Wall Street Thursday as investors cheered a strong set of quarterly results from Macy's and other retailers.
The S&P 500 rose 1.8% as of 3:27 p.m. Eastern and is solidly in the green for the week following a choppy few days of trading. T... Read the Full Story |
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Markets | | |
Buy now and pay later purchase financing provider Affirm (NASDAQ: AFRM) stock is rebounding after bottoming out at $13.64. The buy-now-pay-later (BNPL) platform had a very negative sentiment heading into its fiscal Q3 2022 earnings release on the heels of weak performances from Block (NYSE: SQ) an... Read the Full Story |
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From Our PartnersRussia's invasion of Ukraine has already sent the stock market down 10%.
But that's just the opening act for the new Russia-China Alliance.
There's a major event involving China that's heating up... and it could boil over as soon as June 21st, 2022. | | Click Here to Learn How to Protect Your Retirement |
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Politics | | | Stagflation. It was the dreaded “S word” of the 1970s.
For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons.
Stagflation is the bitteres... Read the Full Story |
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Markets | | | Iran's paramilitary Revolutionary Guard is building a massive new support ship near the strategic Strait of Hormuz as it tries to expand its naval presence in waters vital to international energy supplies and beyond, satellite photos obtained by The Associated Press show.
The construc... Read the Full Story |
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Markets | | | RBC Bearings (NASDAQ: ROLL) is not a large company but its FQ4 results are among the most important at this stage in the earnings cycle. The company makes ball bearings and ball bearing components which isn’t very exciting until you think about all the applications for bearings. Read the Full Story |
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Markets | | | Airbnb grew its revenues while many of its competitors faltered during the pandemic. A change in consumer preferences and spending habits has also enabled new dimensions of competition in the industry. Read the Full Story |
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Markets | | | Genesco, Inc (NYSE: GCO), owner of brands like Journeys and Schuh, has proven its place in post-pandemic retail. The company’s brand position and omnichannel offering have it set up to outperform many of its mall-based competitors but there is a problem for the market. Read the Full Story |
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Friday's Early Bird Stock Of The Day Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson's disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer's disease. Its discovery and preclinical programs include PRX123, a dual Aß-Tau vaccine for the treatment and prevention of Alzheimer's disease; and PRX019 for the treatment of neurogenerative diseases, as well as TDP-43 for the treatment of amyotrophic lateral sclerosis. Prothena Corporation plc has a license, development, and commercialization agreement with F. Hoffmann-La Roche Ltd. and Hoffmann-La Roche Inc. to develop and commercialize antibodies that target a-synuclein, including prasinezumab; and a collaboration agreement with Bristol-Myers Squibb to develop and commercialize antibodies targeting tau, TDP-43. The company was incorporated in 2012 and is based in Dublin, Ireland. | | View Today's Stock Pick |
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