Good MorningEquities finished a volatile week on a down note last week with the S&P 500 down more than 1.5% at the low of the Friday session. The move was small but no less important because it confirms the presence of resistance at a key level between 4,100 and 4,200 on the S&P 500. If the market can not get back above that level this week it most likely won't until later in the summer.
This week, the market will be focusing on the CPI data due on Friday and it could be a hot number. Not only are commodity prices still firm but oil and wages are still on the rise. The best-case scenario is that consumer-level inflation moderated slightly on a month-to-month basis but at that level is still very high. The risk for the market is a hotter than expected figure and increased expectation for aggressive FOMC actions this year. Featured: The 60-minute daily routine that doesn't care about market direction (Ad) 
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Consumer Discretionary | | Retail department store chain Macy’s (NYSE: M) stock has been weathering the bear market in retail stocks after posting stellar fiscal Q1 2022 earnings and raising guidance. The department store giant’s Polaris strategy has been successful as Macy’s saw 88% of its omnichannel marke... Read the Full Story |
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From Our Partners | | The Department of Justice recently argued that cash isn't legally property, a claim with implications for anyone holding savings in an IRA, 401k, or bank account.
Millions of Americans keep most of their retirement inside a financial system they don't control. History shows that when governments face financial strain, rules and access can shift quickly. | | Download the free kit to explore strategies for shielding your retirement |
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Technology | | Solar energy solutions provider First Solar (NASDAQ: FSLR) stock has fallen (-15%) for the year outperforming the Nasdaq bear market. The photovoltaic (PV) solar module maker saw significant drops in revenues stemming from a drop in modules sold and average selling price, and lower Japan project rev... Read the Full Story |
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Communication Services | |
Baidu, Inc. (NASDAQ: BIDU) has expanded its business model over the last several years. While the company continues to dominate the domestic Chinese search engine market with a 79.52% market share with its Baidu app, accelerated growth is set to come from its AI Cloud solution, which delivered a 4... Read the Full Story |
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From Our Partners | | Since 2003, one private alert service has sent over 14,000 buy signals averaging 310% gains each - including the underperformers. Past picks include Butler National Corporation up 564%, D-Box Technologies up 610%, and Limbach Holdings up 790%.
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Utilities | |
Consolidated Edison Is A Buy For Dividend Portfolios
The insider activity in Consolidated Edison (NYSE: ED) is mixed to be sure but, in our view, heavily tilted in favor of shareholders. While the net of activity is overwhelmingly bearish that is due to a single transaction. Director John McAvoy... Read the Full Story |
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Consumer Discretionary | |
RH Falls On Soft Outlook, Weakening Demand Trends
RH (NYSE: RH) was one of the first companies to warn the market about inflationary and supply chain hiccups and, as such, we expect to see give some of the earliest insight into what to expect over the summer. As dubious as the company’s be... Read the Full Story |
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From Our Partners | | Elon Musk says AI could make money irrelevant by 2036. One income program already exists today, funded not by robots but by America's oil and gas infrastructure.
It's called the Patriot Income Plan, or P.I.P., and it pays 10% a year across 42 separate distribution dates. This year it's on track to pay out a record 53 billion dollars.
Think of it as a personal stake in the world's largest energy producer, structured to deliver income on a regular schedule. | | Enroll in the Patriot Income Plan before the next payout date |
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Technology | |
Xiaomi Co. (OTCMKTS:XIACF) is currently down 35.70% YTD as it struggles with global macroeconomic headwinds. During the company’s most recent earnings call, Xiaomi gave reasons for its underperformance. Executives stated that the resurgence of COVID-19 and the shortage of key components are ... Read the Full Story |
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Technology | |
After a vicious selloff that saw shares of identity software company Okta (NASDAQ: OKTA) fall 70% from last November through last month, they’re finally looking like they’re ready to turn around. Investors have to go all the way back to January to find a run of two green weeks in a row... Read the Full Story |
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Consumer Discretionary | |
Chinese tech stocks such as Alibaba Group (NYSE: BABA) have faced a number of headwinds recently that have negatively affected the companies' stock prices. These headwinds include regulatory pressures and China’s links with Russia. The Hang Seng China Enterprises index which tracks Chinese s... Read the Full Story |
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Consumer Discretionary | |
As long as short interest remains high, the overall view of CHWY stock is cloudy
Shareholders in Chewy (NYSE: CHWY) are getting some relief from the relentless sell-off in the stock. In late-day trading, CHWY stock is up 23.8% on the back of a strong earnings report. The online retailer of all t... Read the Full Story |
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Consumer Staples | |
Hormel Foods Falls On Inflation Concerns
Hormel Foods (NYSE: HRL) did not have a bad quarter or even give poor guidance but the Q2 results are a message for the market. Not only is inflation cutting into volume sales and profits but even higher prices are on the way for US consumers. The key take... Read the Full Story |
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Monday's Early Bird Stock Of The Day RingCentral, Inc., together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company's products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience. It provides RingCentral Video, a video meeting service that includes the company's RCV video and team messaging capabilities; offers video and audio conferencing, team messaging, file sharing, contact, task, and calendar management, as well as pre-meeting, in-meeting, and post-meeting capabilities. In addition, the company offers RingCentral Professional Services, which include consultation, UCaaS and CCaaS implementation, VoIP phone system adoption, configuring custom workflows, customer and user onboarding, ongoing support, advanced support, managed services, and more. It serves a range of industries, including financial services, education, healthcare, legal services, real estate, retail, technology, insurance, construction, hospitality, state and local government, and others. It sells its products to enterprise customers, as well as small and medium-sized businesses through resellers and distributors, partners, and global service providers. RingCentral, Inc. was incorporated in 1999 and is headquartered in Belmont, California. | | View Today's Stock Pick |
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