Good MorningEquities began the week on solid footing but early gains on Monday quickly evaporated. The S&P 500 closed with a loss for the day and just above the summer lows which is the key level to watch this week. If the index slips below this level the market could begin to pick up momentum on its slide to new lows. In that scenario, the S&P 500 could fall to the 3,500 level or lower.
One catalyst that could lead to such a move is the PCE price index on Friday. The index is expected to accelerate on a core basis in both the month-to-month and YOY comparisons. This data would support the need for another aggressive FOMC interest rate hike and it could come in hotter than expected. While gas prices have come down from their peak the rise in fuel prices and other commodities is still working its way through the economy and is underpinning core consumer-level inflation. Featured: Want To Trade Tech? This Is The Stock For You (Darwin) 
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Politics | | | The Dow Jones Industrial Average became the last of the major U.S. stock indexes to fall into what’s known as a bear market Monday as the market deepened its slump amid growing fears of a global recession.
The blue chip index fell 1.1%, while the S&P 500 closed 1% lower and the N... Read the Full Story |
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Markets | | |
E-commerce infrastructure platform Shopify (NYSE: SHOP) stock has fallen from a high of $176.29 to the recent low of $27.65 in less than a year’s time. Shares are down a tear jerking (-79%) in 2022. The pandemic accelerated e-commerce adoption by a decade according to some estimates. Shopify... Read the Full Story |
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Markets | | |
Dick’s Sporting Goods sustains high comps relative to pre-pandemic levels.
Starbucks’ new CEO is a game-changer and not the only catalyst.
Ulta Beauty is growing revenue and grabbing market share.
The Q3 earnings cycle is about to heat up and it looks like it could be a ro... Read the Full Story |
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Markets | | | Global media and communications company Comcast (NASDAQ: CMCSA) stock is down (-37%) on the year and testing its pandemic lows. Despite the cord cutting trend that is killing its legacy cable video tv business losing (-521,000) customers in Q2 2022, the Company is still showing strong profits. It ad... Read the Full Story |
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Politics | | | The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.
The pound fell as low as $1.0... Read the Full Story |
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Tech | | | Stocks wavered between gains and losses in morning trading on Wall Street Monday as the market comes off another week of big losses.
The S&P 500 rose 0.5% as of 10:19 a.m. Eastern. The Dow Jones Industrial Average fell 2 points, or less than 0.1%, to 29,585 and the Nasdaq rose 1.... Read the Full Story |
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Politics | | | Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve rate increases since the start of the coronavirus pandemic Read the Full Story |
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Markets | | | Biotech Amyris (NASDAQ: AMRS) appears well-positioned to capitalize on a growing interest in environmentally sustainable replacements for ingredients in consumer products.
California-based Amyris, which went public in 2010, is focused on a business called synthetic biology. It develops, manuf... Read the Full Story |
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Politics | | | The government's antitrust lawsuit against American Airlines and JetBlue begins Tuesday and the outcome could determine how closely the Biden administration examines other airline deals, including JetBlue's pending attempt to buy Spirit Airlines.
The Justice Department and six states ... Read the Full Story |
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Markets | | |
Altria Group, Inc. (NYSE: MO) staged a mini rally last week that was eventually snuffed out by Friday’s market selloff—the fourth straight selloff to new 2022 lows nonetheless.
Still, with the tobacco leader outperforming the S&P 500 by 10% year-to-date, the stock’s de... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Core & Main, Inc. is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide. The company was founded in 1874 and is headquartered in St. Louis, MO. | | View Today's Stock Pick |
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