Good MorningEquities slipped on Wednesday following a mad dash for the exits on Tuesday. The S&P 500 fell about 0.25% at the low of the day on fears of slowing economic activity and an earnings recession that could begin as soon as the current quarter. While several reports have come in better than expected the strength is isolated and the signs of economic headwinds are growing. If this trend continues it could lead to a significant revision to the 2nd half outlook that drives the market even lower and that is not the only risk. The PCE price index is expected to come in hot and increase the odds not only of aggressive FOMC action but a major recession as well.
In regards to stocks, the defensive Consumer Staples stock General Mills was among the market's leaders on Wednesday. The stock represents not only a value to investors but a high yield that is backed upped by results. General Mills' 2nd quarter earnings were better than expected and came with an increase in guidance that we think will be echoed across the sector. Featured: Trump’s Exec Order #14154 could be a “Millionaire-Maker” (Ad) 
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Markets | | | Software provider to property and casualty insurers Guidewire Software (NYSE:GWRE) stock has plunged (-31%) in this year but is staging a comeback with the launch of its first Guidewire Cloud offering known as Elysian Read the Full Story |
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Politics | | | Airlines that have stumbled badly over the last two holidays face their biggest test yet of whether they can handle big crowds when July Fourth travelers mob the nation's airports this weekend.
Problems were popping up well before the weekend, with some disruptions caused by thunderst... Read the Full Story |
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Stocks | | | Acuity Brands (NASDAQ: AYI) has been in a downtrend for the last two quarters for no other reason than fear of slowing growth, tightening margins, and earnings weakness but those fears were overblown. The move downward was driven in large part by institutions that were selling heavily in the first quarter of the year Read the Full Story |
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Markets | | | Shares of Spirit Airlines rose Thursday after it postponed a vote for the second time on a proposed merger with Frontier Airlines, allowing for a bidding war over the budget airline between Frontier and JetBlue Airways to play out.
The delay, announced hours before the scheduled vote... Read the Full Story |
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Markets | | | Stocks fell in afternoon trading on Wall Street Thursday and are on track to cap off their worst quarter since the early days of the pandemic.
The S&P 500 fell 0.3% as of 1:40 p.m. Eastern, though it was down as much as 2.1% earlier in trading. The benchmark index has been on a di... Read the Full Story |
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From Our Partners | | Cold War Discovery Could Unlock $100 Trillion in Wealth
Jeff recently traveled to an American ghost town to investigate this crazy Cold War story…
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Markets | | | A big opioid settlement and a COVID-19 vaccine slowdown dragged on third-quarter earnings for Walgreens, but the drugstore chain still topped expectations.
Net income slid to $289 million in the quarter that ended May 31, the company said Thursday. That’s down from about $1.2 billion ... Read the Full Story |
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Politics | | | In a blow to the fight against climate change, the Supreme Court on Thursday limited how the nation’s main anti-air pollution law can be used to reduce carbon dioxide emissions from power plants.
By a 6-3 vote, with conservatives in the majority, the court said that the Clean Air Act ... Read the Full Story |
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Stocks | | | RH (NYSE: RH) was one of the biggest winners from the pandemic boom and now it is one of the biggest losers of the pandemic bust. More importantly, because of when it reports in the reporting cycle, it has provided insight into the upcoming quarter and what to expect from guidance among S&P 500 companies. Read the Full Story |
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Markets | | |
Rio Tinto Group (NYSE: RIO) is in the business of mining and processing commodities across the world, but perhaps the most important material it delivers is iron ore. RIO has the largest portfolio of iron ore assets with 16 mines. The demand for this raw material is set to grow worldwide at a CAGR... Read the Full Story |
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Stocks | | | Paychex (NASDAQ: PAYX) is an American provider of human resources, payroll, and outsourcing services for small and medium-sized businesses. The company is based out of Rochester, New York, and has payroll clients across North America and Europe.
Highlights:
-Services revenue increased by 11% for t... Read the Full Story |
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Friday's Early Bird Stock Of The Day Day One Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma. The company is also developing Pimasertib, an oral small molecule inhibitor of mitogen-activated protein kinase kinases 1 and 2. Day One Biopharmaceuticals, Inc. was incorporated in 2018 and is headquartered in Brisbane, California. | | View Today's Stock Pick |
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