Good MorningThe S&P 500 extended its decline on Wednesday falling a little more than 0.70% at the low of the day after a late day downdraft. The move was small but sparked by a weak ADP employment figure and has the index below a key technical level. The index price action has fallen back into a downward sloping price channel that has been in place since late 2021. At this level, bearish traders may begin to pile back into the market and drive the index down to retest the recent lows near 3,650.
The next hurdle will come on Friday with the NFP report. The NFP report is expected to echo the ADP report and show weaker and weakening trends within the employment sector. The risk is that wage inflation won't subside, however, and add extra pressure on the Fed to raise interest rates. Featured: Watch This Robotics Demo Before July 23rd (Ad) 
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Markets | | | Can Chinese Internet companies Alibaba Group Holdings (NYSE: BABA) and Baidu (NASDAQ: BIDU) recapture their glory days as high-flying growth stocks?
Both companies have been on downward trajectories when it comes to stock price and earnings slowdowns.
Alibaba began trading in the U.S. ... Read the Full Story |
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Nvidia (NASDAQ: NVDA) and AMD have been directed by the U.S. government to stop the sales of their latest data center and enterprise chips, specifically the A100 and H100 chips. These chips have a number of different uses including AI, enterprise, networking, and cloud. Nvidia’s stock fell i... Read the Full Story |
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This may seem like an odd time to be looking at materials stocks. After all, these are stocks that tend to perform well when the economy is booming. But not so well when businesses are dealing with rising interest rates to offset 40-year high inflation.
But this isn’t a typical econom... Read the Full Story |
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Markets | | | Shares of Bed Bath & Beyond lost nearly a quarter of their value Wednesday after the struggling home goods retailer announced a restructuring that includes store closures, layoffs and a possible stock offering.
The company said it has obtained more than $500 million of new financ... Read the Full Story |
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Markets | | | Shares of Bed Bath & Beyond plunged in premarket trading after the struggling home goods retailer announced a restructuring that includes store closures, layoffs and a stock offering.
The company said it has obtained more than $500 million of new financing and was reducing 20% of... Read the Full Story |
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Markets | | | A judge rejected a plea agreement that would have meant no prison time for the operator of a limousine company involved in a crash that killed 20 people in upstate New York. Wednesday's turnabout drew applause and tears from victims’ relatives and plunged limo company boss Nauman Hussain into legal ... Read the Full Story |
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Tech | | | General Motors said Wednesday that a new electric vehicle battery plant built in Ohio has started producing cells, which could help customers get federal tax credits.
The joint-venture plant near Warren, Ohio, is focused on training as it prepares to ramp up manufacturing. A spokeswom... Read the Full Story |
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Tech | | | The parent company of social media platform Snapchat said Wednesday that it is letting go of 20% of its staff as it reorganizes and tries to reduce costs in the face of declining ad sales.
In a letter to staff posted on Snap Inc.'s website, CEO Evan Spiegel said sales were not keeping... Read the Full Story |
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Bed Bath and Beyond (NYSE: BBBY), recently has seen a significant increase in its stock price, mainly owing to speculative sentiment. The stock has rallied from its recent lows of $4.38, to $23, only to fall back down to $9.53 per share. Despite, the recent rally, which can be attributed to specul... Read the Full Story |
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Markets | | | Consumer retail names have had a tough 2022 so far, with soaring inflation and falling household spending combining to create the perfect storm, and Best Buy (NYSE: BBY) has been no exception. The well-known consumer electronics store has had to watch its shares fall 50% from the dizzying heights th... Read the Full Story |
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Thursday's Early Bird Stock Of The Day AEye, Inc., together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia-Pacific. It offers 4Sight intelligent sensing lidar platform, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight; and 4Sight for automotive and industrial market. The company was formerly known as CF Finance Acquisition Corp. III and changed its name to AEye, Inc. in August 2021. AEye, Inc. was founded in 2013 and is headquartered in Dublin, California. | | View Today's Stock Pick |
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