Good MorningEquity markets took a small tumble on Monday falling nearly 2.0% at the low of the day but the S&P 500 managed to claw back the loss by the end of the session. The move was sparked by a growing fear of recession that spilled over into the energy markets. The price of oil fell more than 10% on fear the demand for energy would plummet in the wake of economic contraction and caused a similar decline in oil stocks. Oil stocks led the selling on Wall Street and fell about 6% for the session despite the fact that supply and demand imbalances remain skewed in favor of higher prices.
The impact of high oil prices on consumer spending, profit margin, and corporate earnings will soon be known. The peak of the Q2 earnings reporting season begins next week and could reinvigorate bearish sentiment. The expectation is for margin to contract relative to last year and for earnings growth to be tepid. The risk for the market, however, lay in the guidance due to an expectation for economic improvement in the 2nd half. If the guidance points to ongoing issues the S&P 500 will most likely fall to a new low.
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It may seem like an ongoing question: to buy stocks from China or not? The No. 1 worry on your list of worries might be the going-down-the-tubes China-U.S. relationship, and Chinese firms risk delisting by the Securities and Exchange Commission (SEC). Should you risk investing in them anyway?... Read the Full Story |
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Politics | | | Stocks fell broadly on Wall Street in afternoon trading Tuesday, extending a slump for the major indexes as investors continue to worry about the state of the economy.
The S&P 500 fell 0.9% as of 2:06 p.m. Eastern. Roughly 75% of stocks in the benchmark index fell in the weak open... Read the Full Story |
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Politics | | | Stocks are opening lower across the board on Wall Street and crude oil prices are dropping again. Treasury yields also fell as traders continued to worry about the state of the economy. European markets were also lower. The S&P 500 fell 1.7% in the early going Tuesday, and the tech-heavy Nasdaq ... Read the Full Story |
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Stocks | | | With so many companies competing to reach the head of the class, choosing winning education stocks is a brain teaser. When it comes to good long-term growth prospects, these three names make the grade. Read the Full Story |
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Markets | | | Oh, the times, they are a-changing. Not only is the outlook for S&P 500 earnings growth diminishing but the analyst are becoming more defensive by the day. The latest round of commentaries contains no few downgrades and price target reductions but there are some rays of light for investors Read the Full Story |
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Tech | | | The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations
The U.K.'s central bank said that the crashes exposed vulnerabilities in the crypto markets reminiscent of previo... Read the Full Story |
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Markets | | | Smithfield Foods will pay restaurants and caterers $42 million to settle a lawsuit that accused the giant meat producer of conspiring to inflate pork prices, which will likely only add to concerns about how the lack of competition in the industry affects meat prices.
Lawyers began not... Read the Full Story |
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Markets | | | Scandinavian Airlines on Tuesday filed for bankruptcy in the United States, warning a walkout by 1,000 pilots a day earlier had put the future of the carrier at risk.
The move adds to the likelihood of travel chaos across Europe as the summer vacation period begins.
The... Read the Full Story |
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Markets | | | Women’s handbag and fashion accessories brand Vera Bradley (NYSE: VRA) stock has stumbled (-48%) on the year. Business was impacted by inflationary pressures, logistics costs and rising fuel prices causing revenues to come in light in its fiscal Q1 2023 earnings. The Company suffered a net los... Read the Full Story |
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Markets | | | Since the beginning of April, shares of McDonald's (NYSE: MCD) have managed to just about keep their head above water, while the benchmark S&P 500 index has shed close to 20% of its value. This comes against the backdrop of soaring inflation prints, a hawkish Federal Reserve and rising interest rates. Read the Full Story |
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Wednesday's Early Bird Stock Of The Day International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry. The Infrastructure segment provides on-premises and cloud based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, facilitates IBM clients' acquisition of hardware, software, and services. The company has a strategic partnership to various companies including hyperscalers, service providers, global system integrators, and software and hardware vendors that includes Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York. | | View Today's Stock Pick |
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