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: 5 dividend stocks worth owning in any market condition (Ad) 
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Business Services | | 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 | | Renewed tensions involving Iran are putting global oil supplies back in focus - and history shows certain energy stocks respond before the broader market catches on.
A new report identifies three energy stocks emerging from today's supply disruptions. One is already benefiting from the current environment; the other two may not be on your radar yet. | | See which three energy stocks made the list and why they stand out |
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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 | | Most AI portfolios hold the same handful of chip and software names - and completely ignore the physical layer. One perception-hardware company posted ~49% Q1 revenue growth with four partnership announcements in a single month.
A free report names seven companies building the automation, robotics, and semiconductor-test infrastructure that AI requires to move beyond the data center - including an automation giant that raised full-year guidance after quarterly sales rose ~12%. | | Click here to get your free copy of this report today |
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Transportation | |
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 Staples | |
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 | | Trader Graham Lindman has built a strategy around a repeating anomaly that appears in the first 60 minutes of every trading day - and it never requires holding positions overnight.
The setup has recently been refined to target up to 100% payouts by holding through the close, with 10 consecutive winning trades logged during one of the most volatile stretches since the Tariff Wars.
A new signal opportunity opens tomorrow. | | See how to join Graham Lindman's next trade before it opens |
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Basic 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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Technology | | 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 Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. It operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company was incorporated in 1967 and is headquartered in Santa Clara, California. | | View Today's Stock Pick |
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