Good MorningEquities reversed course to fall about 0.75% on the first trading day of June. The move was driven by a rising fear of economic catastrophe that was brought into sharp focus by JPMorgan Chase CEO Jamie Dimon. Dimon says the US should get ready for an economic hurricane caused by the Fed and fallout from the Russian invasion of Ukraine. In his view, oil could hit $150 per barrel and drive inflation to new heights.
The chart of the S&P 500 is beginning to show signs of weakness in the rebound. The index hit resistance at the key 4,100 level and right now that resistance is confirmed. If the market can not get over this level the least of what we expect is a retest of support at the 3,900 level. If price action moves below there, and there is no reason now why it won't, we think the broad market could fall another 5% to 10% before hitting the next support zone. Featured: Its' recession-proof, inflation-proof trading (Legacy Research) 
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Politics | | | China’s government on Thursday accused Washington of jeopardizing peace after U.S. envoys began trade talks with Taiwan aimed at deepening relations with the self-ruled island democracy claimed by Beijing.
Talks that started Wednesday cover trade, regulation and other areas based on “... Read the Full Story |
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Tech | | | Sheryl Sandberg, the No. 2 executive at Facebook owner Meta, who helped turn its business from startup to digital advertising empire while also taking blame for some of its biggest missteps along the way, is stepping down Read the Full Story |
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Tech | | | Sheryl Sandberg, the No. 2 executive at Facebook owner Meta, who helped turn its business from startup to digital advertising empire while also taking blame for some of its biggest missteps along the way, is stepping down Read the Full Story |
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Markets | | | To hear it from Delta Air Lines, happy days are here again, with travelers gladly paying sharply higher fares just to get on an airplane and go somewhere this summer.
Delta said Wednesday that it expects second-quarter revenue will be back to pre-pandemic 2019 levels, even with fewer ... Read the Full Story |
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Markets | | | Electric vehicle (EV) charging network Blink Charging (NASDAQ: BLNK) stock has fallen (-37%) during the 2022 bear market. The EV charging operator and provider of charging equipment had impressive fiscal Q1 2022 metrics including a 339% increase in revenues and 346% increase in service revenues and ... Read the Full Story |
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Politics | | | Tennessee Supreme Court justices fired numerous questions Wednesday at a company that is challenging lawsuits alleging its workers were sickened or died after cleaning up the nation's worst coal ash spill, which happened more than a decade ago.
Oral arguments centered on Jacobs Engine... Read the Full Story |
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Markets | | | HP Inc (NYSE: HPQ) shares popped on the Q2 earnings report and are tickling a new all-time high but we aren’t betting on a breakout. While the news is good and the outlook favorable there are some underlying conditions in the market that we see capping gains, at least over the summer. Read the Full Story |
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Markets | | | Ambarella’s (NASDAQ: AMBA) shares have been under intense pressure over the past few quarters but we think the bottom is in. The stock price was under pressure due to fears of slowing growth, the impact of the Omicron variant, supply chain issues, and lockdowns in China but it looks like the worst is behind the company now. Read the Full Story |
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Markets | | | Self-care health and wellness products make Perrigo (NASDAQ: PRGO) stock has been recovering well off its $31.22 bottom. The bear market selling seems to have abated as the Company is uniquely positioned to gain during an inflationary cycle as evidenced by its market share gain during the last reces... Read the Full Story |
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Markets | | | Beauty products and fragrance maker Coty, Inc. (NYSE: COTY) stock has suffered with the benchmark indices trading down over (-30%) for the year. The Company is the leading fragrance maker with high-end brands including Hugo Boss, Burberry, Mark Jacobs, and Gucci in its portfolio. It also owns the ic... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Aridis Pharmaceuticals, Inc., a late-stage biopharmaceutical company, discovers and develops targeted immunotherapy using fully human monoclonal antibodies (mAb) to treat life-threatening infections. Its lead product candidate is AR-301, a fully human mAb of immunoglobulin 1 (IgG1) that has completed Phase III pivotal trials for the treatment of lung infections resulting from S. aureus alphatoxin, as well as developing AR-301 as an adjunctive therapy with SOC antibiotics to treat hospital acquired pneumonia and ventilator associated pneumonia. The company is also developing AR-320, a fully human IgG1 monoclonal antibody targeting S. aureus alpha toxin to treat infections caused by methicillin-resistant Staphylococcus aureus and methicillin-susceptible S. aureus; AR 501, an inhaled gallium citrate, which is in Phase 1/2a for the treatment of chronic lung infection associated with cystic fibrosis; and AR-101, a human IgM mAb, which is in Phase II clinical trials targeting Pseudomonas aeruginosa liposaccharides serotype O11. In addition, it develops AR-401 that is in preclinical stage to treat infections caused by Acinetobacter baumannii; AR-201, a fully human IgG1 mAb preclinical program for respiratory syncytial virus; and AR-701, a cocktail of two fully human immunoglobulin 1. The company was founded in 2003 and is headquartered in Los Gatos, California. | | View Today's Stock Pick |
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