Good MorningThe rebound in equity markets reversed course on Tuesday with the S&P 500 falling more than 2.0% at the low of the session. The move comes on growing fears of margin compression in Q2 and beyond that will result in downward revisions to earnings. Looking at the market from the perspective of earnings, the S&P 500 is valued on the expectation of future earnings power which means a downtrend in EPS outlook will result in a downtrending market. In that light, Tuesday's decline looks like a trend following movement and one that could result in a new low very soon.
The next catalyst for the market, other than unexpected news, will be the PCE price index on Thursday. Even if the index were to cool or even decline the outlook for inflation remains robust. Without some change to the fundamental outlook, the FOMC should be expected to hike rates by 75 basis points at both of the next two meetings. Featured: The $100 Trillion AI Story No One Is Telling You (Ad) 
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Markets | | | A single upgrade is rarely enough to move a stock price very much but a series of upgrades often are. That’s why we like to screen for the most upgraded stocks and what we’ve found today is interesting. Read the Full Story |
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From Our Partners | | Tesla's About to Prove Everyone Wrong... Again
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Stocks | | | Given the largely speculative nature of the Robinhood-100 list, it’s not often that fundamentally focused research firms agree with the largely social media-driven retail trader. Yet the Street and Robinhooders are clearly on board with the growth potential of these three names. Read the Full Story |
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Markets | | |
In 2022, the Dow Jones-30 basement dwellers are a group of companies that typically hang out in the attic.
Conversely, the widely followed benchmark’s leaders include names that struggled to find their footing in the early part of the decade. Chevron’s link to higher oil prices ... Read the Full Story |
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Markets | | | Stocks fell in afternoon trading on Wall Street Tuesday as the broader market remains gripped by uncertainty over pervasive inflation, rising interest rates and the potential for a recession.
The S&P 500 fell 2% as of 3:07 p.m. Eastern, with roughly 85% of the stocks in the benchm... Read the Full Story |
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Politics | | | The man considered to be the wealthiest oligarch in Russia, who has been photographed playing ice hockey with President Vladimir Putin, has joined a growing list of those transferring — or, sailing — their prized assets to Dubai Read the Full Story |
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From Our Partners | | Washington is running out of money…And guess where they'll look next?
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Markets | | | Brazilian point-of-sale (POS) financial technology provider StoneCo (NASDAQ: STNE) stock has fallen (-54%) year-to-date despite triple digit top-line growth. The popular aggregator of electronic and digital payments and e-commerce platform in Brazil not only beat its fiscal Q1 2022 estimates but rai... Read the Full Story |
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Politics | | | The new speaker of France's lower house of parliament — the first woman to hold the post — vigorously defended the right to abortion Tuesday and called on the chamber to be “vigilant” about protecting it from reversal.
The National Assembly elected Yael Braun-Pivet as speaker on Tuesd... Read the Full Story |
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Politics | | | France’s lower house of parliament on Tuesday opened its first session since President Emmanuel Macron's party lost its majority, and is expected to elect a woman as speaker for the first time.
Legislative elections earlier this month shook up France’s political landscape. Macron’s ce... Read the Full Story |
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Markets | | | U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they've been about the future in almost a decade.
The Conference Board said Tuesday that its consumer confidence index slipped to 98.7 i... Read the Full Story |
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Markets | | | Goldman Sachs analysts Ben Snyder issued a letter to investors echoing a sentiment we share. In his note, he says the 2023 outlook for S&P 500 (NYSEARCA: SPY) earnings is too optimistic given the headwinds facing the economy. Read the Full Story |
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Wednesday's Early Bird Stock Of The Day The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The Bank of Nova Scotia was founded in 1832 and is headquartered in Toronto, Canada. | | View Today's Stock Pick |
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