Good MorningThe equities markets began to rebound last week but investors are urged not to read too much into the move. The move is due more to a lack of news than a change in fundamentals and will likely result in another selling opportunity as the Q2 earnings reporting season draws near. The first major reports of the season are already in but the peak of the cycle won't come for two more weeks when the Big Banks report. Between now and then, however, is a major economic hurdle in the form of the PCE price index and it is expected to be a hot one. If the market can not rationalize the data the major indices could easily reverse last week's gains.
Turning to the chart, the S&P 500 closed the week below a major resistance target near 3,950. This target is coincident with the short-term EMA and the mid-point of a downsloping channel and it could easily cap gains in the near to short-term. If the market can not get above this level, it may not matter how cool the PCE price index or hot the earnings turn out to be.
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Business Services | |
Bear markets are times of uncertainty for investors as the market resets its parameters and preferences to determine stock values. While top-line growth momentum and high expectations are relished in bull markets, it get replaced by tangible value and stability during bear markets. The most tangib... Read the Full Story |
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From Our Partners | | Bill Poulos is offering his Smart Trade Options Checklist at no cost today - normally priced at $29.97.
It's a single-page, seven-point filter designed to help traders identify weak setups before placing any options trade. Print it, keep it at your desk, and run it before every trade. The download link expires soon. | | Download your free copy of the Smart Trade Options Checklist now |
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Technology | | Video communications platform Zoom Video (NASDAQ: ZM) stock has been trading down (-36%) for the year but is staging a rally. The popular video teleconferencing platform has been a top benefactor during the pandemic as COVID lockdowns skyrocketed its top line and share price. The spread of COVID vac... Read the Full Story |
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Retail/Wholesale | | -GMS beat earnings estimates by 12%, with earnings-per-share (EPS) coming in at $2.09. -Net came in at $1.288 billion, an increase of 38% y-o-y.-Backlogs continue to provide support to demand.GMS Inc. (NYSE: GMS) is a leading distributor of construction products and provides commercial and residenti... Read the Full Story |
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From Our Partners | | Trump is launching a new $250 bill - but that may be a distraction. Behind the scenes, Executive Order 14241 is orchestrating what analyst Porter Stansberry calls a total U.S. money reset, bypassing conventional legal channels under the guise of national security.
The last time America reset its currency - under Nixon in the 1970s - it created an average of 1,300 new millionaires a day for over 50 years. Stansberry has identified three asset categories connected to Trump's initiative that could surge, plus his single top investment move. | | Watch the documentary briefing and find out which side you land on |
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Technology | |
-Blackberry reported Q1 earnings, and despite beating analyst estimates, the stock continues to struggle.
-Net profit was -$181 million, or -$.35 per share.
-Revenue fell by 3.4% y-o-y to $168 million.
-Software and services revenue grew by 9% y-o-y to $164 million.
-Blackberry’s stock i... Read the Full Story |
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Markets | |
Can you get the best of both worlds? Growth stocks and dividend stocks, combined? The answer is yes. However, you may want to keep your efforts separate as well. If you are looking to create wealth with a longer time horizon, growth stocks may allow you to enjoy lengthier returns. If you prefer a ... Read the Full Story |
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From Our Partners | | Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the digital dollar. They gave us the timeline… 2025 to 2030. We're in that window right now.
Once the digital dollar launches, every transaction you make will be tracked. Your spending could be controlled. Your accounts could be frozen.
Over 4,500 investors have already used this legal backdoor to hold assets CBDCs can't freeze and generate yields the Federal Reserve can't touch. | | Watch how to access the legal backdoor before it closes. |
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Markets | | Adaptive network solutions provider Ciena Corporation (NYSE: CIEN) stock has lost (-43%) in the 2022 bear market falling for 11 straight weeks. The optical fiber maker is instrumental in the deployment of 5G infrastructure and growth in wireless and accelerated cloud adoption at the edge of the netw... Read the Full Story |
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Basic Materials | |
Copper prices are down around 20% from their recent high.
Despite the correction, copper stocks should continue to benefit as prices remain elevated
Demand continues to be for renewables and electric vehicles
Copper outlook
Recession continues to play on the minds of investors globally. A... Read the Full Story |
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Medical | | Commercial stage global biotech company Zai Lab (NASDAQ: ZLAB) stock has cratered (-82%) from a 52-week high of $178.91. The biotech generates revenues from licensing established medications to market in China in addition to its own cancer treatment pipeline of medications. The model of licensing dr... Read the Full Story |
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Business Services | |
Steelcase Moves Higher On Pricing Power
Steelcase (NYSE: SCS), a maker of office and industrial purpose furniture, has been struggling over the past few years but those times are changing. Postponed demand and a return to in-person operations at many businesses have reinvigorated the company and... Read the Full Story |
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Construction | | -Reported net sales of $1.5 billion for the first quarter during the fourth quarter.-Net earnings came in at $80.3 million, or $1.61 per diluted share.-Despite inventory holding losses, Worthington continues to produce strong results as the building and consumer products segments outperformed.-Worth... Read the Full Story |
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Monday's Early Bird Stock Of The Day Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites. It also engages in licensing agreements to the manufacture and sale of watches, jewelry, eyewear, and fragrances. The company was formerly known as Michael Kors Holdings Limited and changed its name to Capri Holdings Limited in December 2018. Capri Holdings Limited was founded in 1981 and is headquartered in London, the United Kingdom. | | View Today's Stock Pick |
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