Good MorningEquities started the week with a push to new highs but the move was short-lived. The S&P 500 index moved up above the 4,150 level within the first few minutes of trading but quickly fell back to break even under the weight of caution. The PCE price index is due out this week and may send the market into another tailspin. The index is expected to retreat from last month's high of 9.1% but the risk of a hotter number is very high. While the price of oil has come down in recent weeks it is still high relative to the recovery and underpinning higher prices. The risk for the economy, however, is ongoing systemic increases in prices that point to compounded inflation for consumers later in the year.
In business news, a warning from Nvidia that demand is slowing added downward pressure to stocks. The company says weakness in the gaming industry is leading to weaker than expected Q2 results. The risk for the market is that weakness will bleed over into other chip maker results and other industries. Featured:
Watch These 4 Penny Stocks... (PTR) 
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Markets | | |
Before the pandemic, many pharmacy chains were adapting to a wellness model
Both CVS and Walgreens are making significant in-roads into this space
What is current, and future, outlook for both stocks
At first glance, CVS Health NYSE: CVS) looks clearly superior to Walgreens Boots Allia... Read the Full Story |
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Markets | | | Industrials 3M (NYSE: MMM), Honeywell (NASDAQ: HON) and General Electric (NYSE: GE) are all trading higher following recent earnings reports.
One truism about the industrial sector: These companies’ businesses are intricately tied to economic cycles. We maybe familiar with the consumer produc... Read the Full Story |
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Stocks | | |
Workhorse Group (NASDAQ: WKHS) and the rest of the EV market got a lift in mid-summer when Tesla (NASDAQ: TSLA) released better-than-expected earnings and a potential stock split that could be worth billions to investors. The caveat is that Workhorse Group, like other EV startups such as Lordstown... Read the Full Story |
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From Our PartnersNot sure what’s going to happen next in these markets? Look to history. In 2004-2006, we saw backbreaking inflation run rampant just like today. And what happened next? An historic bull market. The deck is stacking again for another bull market - and it could dwarf the last one.
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Stocks | | |
Draftkings (NASDAQ: DKNG) share prices have been in a sustained downtrend that has the look of a rounded bottom. This is noteworthy because truly rounded bottoms are very rare and, to be fair, this one is really a series of smaller bottoms that have led to a slow build-up of support. The bottoming... Read the Full Story |
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Tech | | | Stocks on Wall Street extended their recent run of losses Tuesday as investors reviewed disappointing earnings reports and looked ahead to the release of an inflation snapshot closely watched by the Federal Reserve.
The S&P 500 fell 0.4%, marking its fourth consecutive drop. The ... Read the Full Story |
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Politics | | | Over the last year, President Joe Biden watched pieces of his domestic agenda get thrown overboard in an effort to keep it afloat. Free community college, child care funding, expanded preschool — all left behind.
But there was at least one critical piece that emerged largely intact, a... Read the Full Story |
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Politics | | | The Indian government took another step toward its climate goals by passing a conservation bill through parliament’s lower house, which makes it easier to put a price on carbon emissions and encourages the use of non-fossil fuel sources to generate power across the country Read the Full Story |
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Politics | | | Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation Read the Full Story |
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Tech | | | Honda’s fiscal first quarter profit fell 33% from last year as a global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker.
Tokyo-based Honda Motor Co. reported Wednesday that its profit totaled 149.2 billion... Read the Full Story |
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Markets | | |
Already one of the S&P 500’s top performers of 2022, Lockheed Martin Corporation (NYSE: LMT) may just be getting started.
The defense contractor’s 19% year-to-date return has been largely driven by consistent order flow from military customers—and expectations of more ... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms. In addition, the company offers first aid and safety services, and fire protection products and services. It provides its products and services through its distribution network and local delivery routes, or local representatives to small service and manufacturing companies, as well as major corporations. The company was founded in 1968 and is based in Cincinnati, Ohio. Cintas Corporation was formerly a subsidiary of Cintas Corporation. | | View Today's Stock Pick |
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