Good MorningEquity traders resumed their selling on Tuesday bringing the downtrend to three weeks and the market to a five-week low. The selling intensified under mounting fear the FOMC will not quit hiking interest rates until inflation is in control and that it could mean a very deep recession. The S&P 500 shed about 1.5% at the low of the day and it looks like it will retest the 3,700 level sooner rather than later.
Market fear was stocked by a hotter-than-expected JOLTs figure. The number of job openings surged to 11.2 million and just shy of record highs despite an expectation for openings to fall to 10. million. The figures suggest economic activity is still hot enough to underpin wage inflation if not broader inflation and support the idea of another aggressive FOMC rate hike. The odds of a third 75 basis point hike rose above 70% following the news and the next FOMC meeting is only 3 weeks away. Featured: While NASDAQ prices in fantasy, prepared investors are moving (Ad) 
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Technology | | If you’re a student of chart patterns, you’ll notice that Cadence Design Systems (NASDAQ: CDNS) appears to be forming a cup with high handle.
Now, I’m well versed in many of these typical chart patterns. I’m not aware of any empirical data showing the probabilities of a cup ... Read the Full Story |
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From Our Partners | | Gold has spiked above $4,400 an ounce as central bankers stockpile at one of the fastest paces in decades, according to a new report from Dr. David Eifrig, a 40-year financial veteran who worked the trading desk during Black Monday in 1987.
Bank of England staff are reportedly working overnight to dig out gold bars for delivery, while nations repatriate hundreds of tons back within their borders.
Eifrig says this goes beyond a typical gold rally and outlines three steps to prepare in a free broadcast. | | Watch the free broadcast now to get the full story |
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Technology | | Multi-cloud application network and cybersecurity solutions provider F5 (NASDAQ: FFIV) stock has fallen (-35%) for the year. F5 enables organizations and data centers to defend its networks and applications from hackers and bots. The Company has largely pursued a growth by acquisition strategy to en... Read the Full Story |
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Healthcare | |
Not so fast! At least for now, Jerome Powell has dimmed investor hopes of a second half comeback for U.S. equities. The Fed Chairman’s surprisingly ‘hawkish’ Jackson Hole tone brought renewed volatility to a market that appeared to be coasting towards a summer revival. A tough re... Read the Full Story |
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From Our Partners | | The federal government is throwing its full support behind a new class of AI technology, in what's being called the biggest push since the Apollo moon landing.
This AI reportedly works 10,000 times faster than human PhDs and could eventually be worth 500 times more than ChatGPT. Elon Musk has called the underlying tech the most disruptive force in history. | | Discover the stock positioned to benefit as this AI initiative accelerates |
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Consumer Staples | |
The earnings reports from within the retail sector (NYSEARCA: XRT) were very mixed for Q2 but one thing is clear. The companies with great branding, healthy eCommerce profiles, the right demographics, and solid execution are outperforming peers and the group as a whole. Williams-Sonoma (NYSE: WSM)... Read the Full Story |
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Energy | | Targa Resources (NYSE: TRGP), which specializes in midstream energy infrastructure, has been etching the right side of a consolidation since late July.
Targa has been correcting in a pretty orderly fashion, especially if you compare it to the many stocks that are down 50% or more this year.
The s... Read the Full Story |
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From Our Partners | | The Supreme Court just handed down a digital-privacy ruling that most crypto investors haven't connected to the crypto market yet.
One project's technology is already being integrated into a major decentralized lending protocol holding approximately $11 billion in deposits.
My research team and I have spent years studying emerging blockchain projects before they become widely followed. Previous recommendations have included OCEAN, KDA and PRE, along with other projects that produced substantial gains during their strongest runs. But we believe this project combines several traits that are rarely found in one opportunity. | | Get the name and full “Freedom Coin” research here. |
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Technology | | Unity Software (NYSE: U) has been on a wild ride in the past few weeks following an earnings report and some corporate drama surrounding acquisitions.
Unity runs a software platform for creators and sponsors of real-time three-dimensional content. Customers use Unity’s platform to develop, r... Read the Full Story |
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Consumer Discretionary | | Retail department store chain Macy’s (NYSE: M) stock has had a rollercoaster ride in the past two years as shares trade down (-32%) for the year. The iconic department store chain that brought Santa Claus into the mainstream has emerged from the pandemic as a well-oiled machine. The Polaris tu... Read the Full Story |
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Consumer Discretionary | |
Global toy manufacturer Mattel, Inc. (NYSE: MAT) stock is trading up 5% on the year. The maker of blue chip brands like Barbie, Hot Wheels, Fisher Price, and American Girls is still delivering double digit growth despite inflationary pressures and supply chain costs. In fact, Mattel has been profi... Read the Full Story |
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Consumer Discretionary | |
Sell-side research firms have long had a major influence on the stock market. They employ teams of analysts that scour through financial statements and other data to form in-depth opinions of publicly traded companies. Often their ratings and price targets single-handedly move the needle.
Within... Read the Full Story |
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Technology | |
Memory-chip specialist Micron Technology (NASDAQ: MU) is up 4% since its June 30 earnings report. It rose as much at 18%, peaking at $65.42 in mid-August, but since sputtered, in tandem with the broad market.
Micron, as well as others in the memory-chip business, saw sharp sales growth in 2021, a... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage. The company also provides wafer-level CSP packages for power management, transceivers, sensors, wireless charging, codecs, radar, and specialty silicon; wafer-level fan-out packages used in power management, transceivers, radar, and specialty silicon; silicon wafer integrated fan-out technology that replaces a laminate substrate with a thinner structure; leadframe packages for electronic devices and mixed-signal applications; and substrate-based wirebond packages used to connect a die to a substrate. In addition, it offers micro-electro-mechanical systems packages that are miniaturized mechanical and electromechanical devices; and advanced system-in-package modules used in radio frequency and front end modules, basebands, connectivity, fingerprint sensors, display and touch screen drivers, sensors and MEMS, and NAND memory and solid-state drives. Further, the company provides wafer, package, and system level test services, as well as burn-in test and test development services. It serves integrated device manufacturers, fabless semiconductor companies, original equipment manufacturers, and contract foundries. The company was founded in 1968 and is headquartered in Tempe, Arizona. | | View Today's Stock Pick |
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