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: The case for trading fewer setups, not more (Ad) 
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Consumer Discretionary | |
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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From Our Partners | | Oracle runs 15,000 stocks through the same filter every single day, scanning for precise setups before the opening bell - no emotion, no guesswork.
Tim Bohen, Lead Trainer at StocksToTrade, is walking through this week's flagged setups and showing exactly how the scanner works in a live training right now. | | Watch the scanner in action and join the live training now |
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Auto/Tires/Trucks | |
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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Multi-Sector Conglomerates | | 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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From Our Partners | | Every morning before the market opens, a scanner called Oracle runs through 15,000 stocks and scores the setups — so there's already a plan in place by 6:15 a.m.
Lead Trainer Tim Bohen of StocksToTrade is walking through exactly how Oracle works and how regular traders are using it in a training running right now. | | Watch the Oracle training now and see how the scanner works |
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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 Alliance (... Read the Full Story |
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Aerospace | |
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 to co... Read the Full Story |
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From Our Partners | | The U.S. government has taken roughly a 10% stake in Intel, negotiated a 15% cut of Nvidia and AMD chip sales to China, and reportedly received a 5% ownership offer - worth around $40 billion - from the most valuable AI company on earth.
Porter Stansberry calls it the New U.S.A.I. - a state-backed arrangement where Washington and a handful of tech giants are fused at the balance sheet. A small number of companies get pulled inside. Everyone else gets frozen out, including names sitting in your index fund right now. | | Watch the documentary to see which companies are on the right side |
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Finance | |
While Sofi missed its EPS loss estimate, the Company is still showing double digit growth in many areas.
The second half should show the contributions of its added margin trading in the quarter
The Company raised its fiscal full-year 2022 revenues to come in between $1.508 billion to $1.513 bi... Read the Full Story |
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Medical | | Believe it or not, the health care sector is actually one of the better performers in 2022, with medical device makers Medtronic (NYSE: MDT) and Intuitive Surgical (NASDAQ: ISRG) outperforming the broader sector in the past month.
The Health Care Select Sector SPDR ETF NYSEARCA: XLV) is down 6.48%... Read the Full Story |
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Consumer Discretionary | |
Ralph Lauren (NYSE: RL) and brands like Levi Strauss (NYSE: LEVI) and Calvin Klein parent PVH Corp (NYSE: PVH) are winning in the retail wars for two reasons. The first is a well-loved brand, the second is a push into direct-to-consumer sales and eCommerce. The combination has the company set up t... Read the Full Story |
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Technology | |
The insiders at Cloudflare (NYSE: NET) have been selling shares of their stock over the last two years but it’s not something investors should worry too much about. The selling is broad-based among execs, done in small periodic batches, and smacks of share-based compensation more than anythi... Read the Full Story |
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Retail/Wholesale | |
Home Depot is slated to report its second quarter on August 16
Lowe’s reports its second quarter on August 17
Both stocks are trading above their 50-day moving averages
Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) have become ubiquitous sightings throughout American cities and towns, ... 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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