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: Is This the New Normal for Gold? (Ad) 
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Consumer Staples | |
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 defensi... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Technology | |
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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Consumer Discretionary | |
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 rough r... Read the Full Story |
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From Our Partners | | More than 25 candidates were screened for share price between $1 and $5, market cap above $100 million, daily volume over 500,000 shares, and over $10 million in trailing revenue.
Only five stocks cleared every filter, spanning five different sectors. Two are profitable today, and one pays a substantial dividend.
The report also flags what could go wrong with each pick, including dilution and convertible debt. | | See the five stocks that survived this strict revenue screen |
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Communication Services | | 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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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, manufactur... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
While the One Big Beautiful Bill Act eliminated federal credits for solar, wind, and EVs, this energy source was reclassified alongside oil and nuclear power and given eight years of tax credits. Google signed a 15-year contract, and Bill Gates committed $100 million.
One company controls the entire supply chain behind this discovery. | | See the ticker behind this Grand Canyon energy breakthrough now |
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Consumer Discretionary | |
On Thursday, we’ll learn if NIKE, Inc. (NYSE: NKE) got off on the right foot in its new fiscal year. The sneaker king reports first-quarter earnings after the close.
Let’s just say it will be a low hurdle to jump. The good news is that the worst is probably over for the company.
Afte... Read the Full Story |
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Industrials | | Construction and heavy machinery maker Caterpillar (NYSE: CAT) stock has been weathering the bear market down (-17%) on the year. Despite the slowing demand in China, supply chain disruptions, inflationary pressure, and slowdown in the housing market, the Company is still bullish on strength in the ... Read the Full Story |
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Consumer Discretionary | |
Interactive entertainment restaurant operator Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) is proving that its possible to mitigate both inflationary pressures and weakening consumer spending. They completed the $835 million acquisition of Dallas-based food and games chain Main Event Ent... Read the Full Story |
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Energy | | In a familiar story, midcaps Targa Resources (NYSE: TRGP), Carlisle Companies (NYSE: CSL) and Steel Dynamics (NASDAQ: STLD), the largest components of the S&P 400 mid-cap index, all gapped down Friday along with the broader market.
Mid-caps are traditionally classified as those with market capi... Read the Full Story |
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Technology | | Cloud monitoring specialist Datadog (NASDAQ: DDOG) has been the subject of analyst enthusiasm recently - at least for the most part, according to data compiled by MarketBeat.
On Friday, Credit Suisse initiated coverage with an “outperform” rating. Earlier in the week, Moffett Nathanso... 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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