Good MorningThe rebound in equities came to an end last week when the market hit a key resistance point at the 30-day moving average. The action confirms short-term traders are still bearish and in control of a market gearing up for bad news. The bad news could begin this week with the NFP report but the real risk is in the earnings outlook. The peak of the Q2 earnings reporting season begins next week and will likely result in a massive downgrade to the 2nd half outlook. In this scenario, we are expecting the S&P 500 to move down to 3,400 or lower.
What the market fears is a recession and the odds of a major recession shot to new highs last week. The Atlanta Fed's GDPNow tracking tool fell to -1.0% and predicts the US is already in a mild recession. Based on the fact the Q1 figures were also revised lower last week we think the 2nd quarter GDP could be below 2.0%.
Featured: The DOJ Just Paved the Way for Account Seizures 
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Politics | | | World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul.
Last week was the fourth losing week in the last five for Wall Street as investors fret over high infl... Read the Full Story |
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Politics | | | Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn't enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country's expatriates to send money home through banks to finance new oil purchases.
... Read the Full Story |
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Tech | | | The Supreme Court’s latest climate change ruling could dampen efforts by federal agencies to rein in the tech industry, which went largely unregulated for decades as the government tried to catch up to changes wrought by the internet Read the Full Story |
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From Our PartnersAs you may have seen over the last few weeks, I've been giving out special daily setups on my favorite ticker.
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Markets | | | The Fourth of July holiday weekend is jamming U.S. airports with their biggest crowds since the pandemic began in 2020.
About 2.49 million passengers went through security checkpoints at U.S. airports Friday, surpassing the previous pandemic-era record of 2.46 million reached earlier ... Read the Full Story |
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Politics | | | Fearing Russia might cut off natural gas supplies, the head of Germany's regulatory agency for energy called on residents Saturday to save energy and to prepare for winter, when use increases.
Federal Network Agency President Klaus Mueller urged house and apartment owners to have the... Read the Full Story |
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From Our PartnersREVEALED: $194 Trillion Trump Market Pattern
Trump fires off a tweet and stocks tank…
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Markets | | | Accolade (NASDAQ: ACCD) is certainly an interesting play on the health care space providing business and employee services geared toward helping clients navigate the cumbersome health benefits arena. The pandemic helped boost the company’s business and has on track to continue growing but there is a fly in the ointment. Read the Full Story |
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Markets | | | Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) is a steel recycling and scrap manufacturing company based out of Portland, Oregon. The company reported third-quarter financial results on 31st May 2022.
Highlights:
-Results came in better than expected as the company benefited from domestic non-fe... 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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Markets | | | ZIM has one of the best dividends in the shipping industry. While demand for durable goods is expected to slow down and charges fall, this stock is still a great addition to a well-diversified portfolio. Read the Full Story |
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Monday's Early Bird Stock Of The Day Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services, such as azure and other cloud services; SQL and windows server, visual studio, system center, and related client access licenses, as well as nuance and GitHub; and enterprise services including enterprise support services, industry solutions, and nuance professional services. The More Personal Computing segment offers Windows, including windows OEM licensing and other non-volume licensing of the Windows operating system; Windows commercial comprising volume licensing of the Windows operating system, windows cloud services, and other Windows commercial offerings; patent licensing; and windows Internet of Things; and devices, such as surface, HoloLens, and PC accessories. Additionally, this segment provides gaming, which includes Xbox hardware and content, and first- and third-party content; Xbox game pass and other subscriptions, cloud gaming, advertising, third-party disc royalties, and other cloud services; and search and news advertising, which includes Bing, Microsoft News and Edge, and third-party affiliates. The company sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online, and retail stores. The company was founded in 1975 and is headquartered in Redmond, Washington. | | View Today's Stock Pick |
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