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: MindWalk Holdings Pushes AI Into Pharma Research (Ad) 
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Industrials | | 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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From Our Partners | | Matt Monaco started with a $2,000 trading account and no clear strategy. After two years of trial and error, he crossed $1 million in 2020.
Today his account sits at $3 million, generating roughly $100,000 a month using a repeatable system he calls The Income Blueprint.
He's revealing the exact five-step scan and three trading lanes behind it in a free live training. | | Reserve your seat and claim The Income Blueprint free |
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Markets | |
Profitable and dependable: These are two words that dividend investors want to hear. When you buy and hold dividend stocks, it means that you invest in them and keep them in your portfolio. You then benefit from the dividends year in and year out.
Because they're solid companies, the companies we... Read the Full Story |
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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 ther... Read the Full Story |
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From Our Partners | | In 1974, a quiet deal between Henry Kissinger and the Saudis reshaped America's monetary order overnight, with no announcement and no vote in Congress.
Decades later, the dollar had lost more than 84% of its purchasing power even as millionaire ranks surged into the millions.
Financial reporter Kimi Weintraub sits down to explore a new, largely unnoticed shift in America's monetary system, one tied to executive orders and a reported 13-nation agreement. | | Watch the full interview before the December 14 Miami summit |
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Industrials | |
ZIM Integrated Shipping Services (NYSE: ZIM) provides investors with a strong dividend in the shipping industry. The company’s policy is to pay out 20% of its net income each quarter, and 30% to 50% of its net income on an annual basis. ZIM’s last annual dividend came in at $11.4 with ... Read the Full Story |
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Consumer Discretionary | |
RH Confirms Retail Trends Are Worsening
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 wha... Read the Full Story |
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From Our Partners | | When Moonshot AI's new model rattled overnight markets, stocks gapped down 1 percent before the open, and history shows the story doesn't end there.
Between 9 30 and 9 50 AM, Wall Street settles nearly 25 percent of the day's total volume in a single 20 minute window, often revealing market direction for the rest of the morning.
A former money manager breaks down the floor data behind this pattern, including a June 25th session where inflation surged past 4 percent and the market moved just 0.3 percent afterward. | | Watch the full video breakdown before access is taken down |
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Materials | |
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 | | 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. Guidewire provides mission-critical essential software systems to the $2.5 trill... Read the Full Story |
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Energy | |
For many investors, that Fourth of July weekend can’t come soon enough.
In the coming days we’ll be reminded often that U.S. stocks turned in their worst first half performance since 1970.
To some, this will serve as notice to stay on the sidelines until market conditions improve. Ot... Read the Full Story |
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Markets | |
Acuity Brands Wobbles After Strong Q3 Results
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 ins... Read the Full Story |
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Industrials | | 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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Monday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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