Good MorningThe selloff in the equity markets intensified last week following a bearish technical signal, high inflation, and remarks from Fed chief Jerome Powell. Mr. Powell said inflation was a problem the Fed would fight forcefully adding that businesses and families would feel some pain in the process. The need to fight inflation means higher interest rates meant to cut back on hiring and activity which means fewer business and work opportunities over the next year or two. The S&P 500 fell more than 3.0% at the low of the day and looks like it will fall further in the coming days. The move not only confirms a reversal of long-term proportion but shows a high conviction within the market as well.
This week is another hurdle for the market. The NFP data is due out on Friday and is expected to show a slowdown in hiring as well as an increase in wages which is bad news for the market. In that scenario, labor and consumer markets are already feeling pain but not enough to correct the pace of inflation or stave off aggressive FOMC action. Featured: AI Meltdown Imminent: Dump These Stocks Now! (Ad) 
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Stocks | | | Deflation enablers are companies that help organizations cut costs, grow efficiencies, and optimize performance during uncertain macroeconomic environments like recessions and bear markets. As consumers pull back on spending in attempts to stretch their wallets, companies must adjust and adapt for s... Read the Full Story |
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Markets | | | Network storage maker NetApp (NASDAQ: NTAP) gapped up nearly 8% Thursday following its earnings report, but reversed course Friday, closing 4.58% lower.
It’s safe to say Friday’s action reflected a broad market selloff in the wake of Fed chairman Jerome Powell’s remarks about furt... Read the Full Story |
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Markets | | |
Since pushing to an all-time high in September 2021, Medtronic (NYSE: MDT) has been falling in lock step with tech stocks. That pattern continued even after the company posted a double beat in its fiscal year 2023 first quarter. MDT stock feel 4% on the news. Later in the week the stock regai... Read the Full Story |
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Markets | | |
Not all big stock moves are equal.
Some are accompanied by heavy trading volume. Others come with but a whimper of activity.
Which ones are more significant? Often it's the high volume moves that pack the most punch.
In stock investing, when a crowd forms it typically sticks around ... Read the Full Story |
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Markets | | | Rivian (NASDAQ: RIVN) was heavily hyped up EV play up due to the celebrity fund manager investors like Ray Dalio and David Einhorn as well as the investments by Amazon (NASDAQ: AMZN) and Ford (NYSE: F). The Company is solely focused of scaling up production. The Company expects the impact of in... Read the Full Story |
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Markets | | | Diesel and heating oil supplies in the Northeast are more than 50% below the recent average, raising concerns that an extreme weather event could cause supply disruptions, federal officials said.
Fuel supplies are lower than normal across the country for a variety of reasons, includin... Read the Full Story |
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Tech | | | COVID-19 vaccine maker Moderna is suing Pfizer and the German drugmaker BioNTech, accusing its main competitors of copying Moderna’s technology in order to make their own vaccine.
Moderna said Friday that Pfizer and BioNTech’s vaccine Comirnaty infringes on patents Moderna filed seve... Read the Full Story |
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Politics | | | The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation.
The S&P 500 lost 3.4%, its biggest drop since mid-June, after Jerom... Read the Full Story |
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Politics | | | The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation.
The S&P 500 lost 3.4%, its biggest drop since mid-June, after Jerom... Read the Full Story |
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Politics | | | A pipeline operator and two subsidiaries have agreed to plead guilty to negligently discharging oil off the Southern California coast in connection with a pipeline break that covered beaches with blobs of crude Read the Full Story |
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Monday's Early Bird Stock Of The Day Illumina, Inc. offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest. It also provides whole-genome sequencing, genotyping, noninvasive prenatal testing, and product support services; and Galleri, a multi-cancer early detection test. In addition, the company is developing solutions to help accelerate cancer diagnoses, blood-based detection for minimal residual disease, and other post-diagnostic applications. The company serves genomic research centers, academic institutions, government laboratories, and hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies. It markets and distributes its products directly to customers, as well as through life-science distributors. Illumina, Inc. was incorporated in 1998 and is based in San Diego, California. | | View Today's Stock Pick |
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