Good MorningSome like it hot. But the markets do not. That’s the sentiment of investors after the June PPI number came in at 11.1%. That was hotter than expected. Leading the charge was a 10% increase in energy costs. And that wasn’t the only piece of bad news that investors received. Unemployment claims were at their highest level in eight months.
The issue of the moment is what investors believe about inflation. There is some evidence that “core” CPI is going down. That could mean producer prices are beginning to ease. On the other hand, consumers are still feeling inflation every time they fill up their cars or shop for groceries.
That sent the market down for the fourth straight day. And that will be the longest losing streak in a month for U.S. stocks. Gold and oil were also down today.
Now that the S&P 500 index is below 3,800, investors will eye the 3,600 level. It’s fair to ask if that’s where the bulls make a stand. If they do, it will despite a lift from the big banks. Earnings from JPMorgan Chase and Morgan Stanley both disappointed.
Featured: Elon Musk’s Hushed FCC Filing. Sept 25th. (Ad) 
|
Technology | |
Shopify Inc. (NYSE: SHOP) is the poster child for why the pandemic was both a blessing and a curse for some companies.
Born out of necessity, a surge in demand for e-commerce technology drove the Canadian commerce platform provider’s stock as high as $1,762.90 in November 2021. Since diffic... Read the Full Story |
|
From Our Partners | | Most options educators jump straight into Greeks, spreads, and implied volatility - losing beginners before they ever place a trade.
This free guide from Base Camp Trading takes a different approach, starting with the basics and showing you exactly how options work, why traders use them, and how they fit into a simple trading plan. | | Claim your free options guide and start building real trading knowledge |
|
Technology | | Customer engagement software provider Verint Systems (NASDAQ: VRNT) stock has been resilient trading down (-17%) on the year compared to (-26%) for the Nasdaq 100 index. The Company is a benefactor of the cloud migration and digital transformation trend that continues to accelerate. The workforce en... Read the Full Story |
|
Communication Services | |
The once-familiar household name, CenturyLink, made a name switch to Lumen Technologies. It made the switch with the intention of focusing on fiber connectivity.
It has a reputation of offering a high dividend, but as many investors have been forewarned, it's not a good idea to invest in too-hig... Read the Full Story |
|
From Our Partners | | Porter Stansberry says President Trump has signed an executive order initiating what he calls a full U.S. dollar reset - and most Americans don't know it's happening.
The last time America underwent a monetary shift like this, under Nixon in the 1970s, it minted an average of 1,300 new millionaires a day for over half a century. Stansberry has released a new documentary naming the assets he believes are positioned to surge as a result. | | Watch the free briefing and see the three steps to prepare today |
|
Technology | |
-Net income for TSMC came in at $7.9 billion for the quarter surpassing analyst estimates.
-Revenue was up 30% y-o-y and came in above guidance at $18.6 billion.
-Management has said that supply of chips will continue to be tight, and customers will continue to draw down inventory throughout the... Read the Full Story |
|
Industrials | |
-EPS for the quarter came in line with estimates at $0.50, up from $0.42 cents a year ago.
-Revenue came in at $1.8 billion for the quarter, again matching estimates. Revenue came in at $1.4 billion during the same quarter last year.
-Management is worried that cracks are beginning to appear for... Read the Full Story |
|
From Our Partners | | Goldman Sachs just revised its central bank gold buying estimate by more than 500%, raising its year-end target to $5,400/oz. Bank of America, JPMorgan, and Wells Fargo see prices reaching $6,000 to $6,300/oz.
The revised model shows central banks buying at nearly $7 billion per month, with expectations of $8 to $9 billion monthly through 2026, close to $100 billion for the year. | | Get the free Wealth Protection Playbook and see the details |
|
Markets | |
The supply chain crisis has affected a number of stocks. Largely due to the various stimulus policies, demand increased significantly across many sectors. This led to large lead times in shipping and shortages across key components, especially semiconductors. As supply chains adjust and economies ... Read the Full Story |
|
Consumer Staples | | Organic foods and grocery products distributor United Natural Foods (NASDAQ: UNFI) stock has been performing relatively stronger than the benchmark indices trading down (-19%) on the year. The Company provides organic and natural grocery products, vitamins, supplements, gourmet, ethnic, meat, deli, ... Read the Full Story |
|
Markets | | Data search and analytics platform Elastic (NYSE: ESTC) stock has taken a (-31%) drop on the year but is staging a strong comeback. Elastic is the leading database search engine that also enables observability and cybersecurity. It’s infrastructure platform enables users and developers to perf... Read the Full Story |
|
Markets | |
The words “insider trading” are one of the more exciting financial phrases to be uttered in the news. It brings to mind images of elite stock market traders in suits and ties, engaged in shady backroom meetings to make millions, if not billions of dollars. But behind the sensationalize... Read the Full Story |
|
Energy | |
One of the leading companies in the oil and gas industry, Chevron Corporation (NYSE: CVX) has been a headliner since the company reported earnings of $6.3 billion for the first quarter 2022, compared with $1.4 billion in the first quarter 2021. Included in the current quarter were pension settleme... Read the Full Story |
|
Friday's Early Bird Stock Of The Day Cogent Biosciences, Inc., a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors. The company has a licensing agreement with Plexxikon Inc. for the research, development, and commercialization of bezuclastinib. The company was formerly known as Unum Therapeutics Inc. and changed its name to Cogent Biosciences, Inc. in October 2020. Cogent Biosciences, Inc. was incorporated in 2014 and is headquartered in Waltham, Massachusetts. | | View Today's Stock Pick |
|
