Good MorningBearish momentum is building on Wall Street. Wednesday's market rebound was nothing more than a blip on the radar, possibly driven by short-covering, as traders and investors continue to move to cash. The move comes just a day before the fresh read of the PCE price index and put the S&P 500 at a new 22-month low. Assuming the PCE index comes out as expected, the sell-off could easily gain momentum and take the market down to the 3,500 level or lower.
The PCE index is expected to come in at 0.5% MoM and 4.7% YOY, which are both an acceleration from the previous month and a new high for the YOY comparison. The takeaway is the market is expecting the worst, and the data could be hotter than predicted. Regardless, the data is in support of the Hawkish FOMC, so investors should be prepared for at least another 50 basis points of interest rate hikes at the next meeting if not another 75. Featured: Trump goes "all-in" on Grand Canyon energy breakthrough (Ad) 
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Consumer Discretionary | |
The used car dealership CarMax (NYSE:KMX) disappointed investors with a lemon of an earnings report. The company showed softer revenue than expected. But the headline number was the company’s profit decline. The company reported earnings per share (EPS) of 79 cents, nearly 50% below the aver... Read the Full Story |
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From Our Partners | | Matt Monaco started with a $2,000 trading account and no clear strategy. After two years of trial and error, he crossed $1 million in 2020.
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Consumer Discretionary | | With the market continuing to hit the skids, despite Wednesday’s bounce higher, dividend-paying stocks like Keurig Dr Pepper (NASDAQ: KDP) may look more and more attractive.
But can it bubble to the top of investors’ watch lists, especially when compared to bigger rivals Coca-Cola (NYS... Read the Full Story |
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Industrials | |
Labor market stocks like Paychex (NASDAQ: PAYX), Automatic Data Processing (NASDAQ: ADP), and even Cintas (NASDAQ: CTAS) have been sustaining growth and outperforming expectations in the face of sketchy economic conditions, and that trend is not ending. The latest reports from Cintas and Paychex s... 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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Consumer Discretionary | |
Lightning has struck so many times for Thor Industries (NYSE: THO) it’s hard to count how many but it has happened once again. The company is still riding a wave of demand sparked by the pandemic and outperforming in all metrics. The only bad news is the evidence of peak RV sales is overwhel... Read the Full Story |
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Consumer Staples | | Investors learned from Target (NYSE: TGT) and Walmart (NYSE: WMT) that consumers are shifting purchases away from discretionary items and toward groceries. One company benefiting from continued spending on food is JM Smucker (NYSE: SJM), famous for making jams and jellies, but also the parent compa... Read the Full Story |
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From Our Partners | | Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies.
Dr. Mark Skousen, who met Musk in person and called the SpaceX listing months early, says he has identified all three targets in what he calls Elon's $2.1 Trillion Hit List.
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Healthcare | | Health insurance and wellness provider Humana (NYSE: HUM) stock has been outperforming the benchmark indexes trading up 4.6% for the year versus (-31%) for the Nasdaq (NYSEARCA: QQQ) and (-16%) for S&P 500 (NYSEARCA: SPY). Healthcare is considered a recession proof business that continues to ris... Read the Full Story |
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Industrials | | Cintas (NASDAQ: CTAS) is down just over 1% the day after it reported strong earnings. On the top line, the company posted revenue of $2.17 billion which was up from the $2.08 billion forecast by analysts. The bottom line number was equally strong. Earnings per share (EPS) came in at $3.39 which was ... Read the Full Story |
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Consumer Discretionary | | Investors everywhere are worried about the future of their portfolios, and for a good reason - there’s a lot of talk about a looming recession. The Fed has hiked interest rates several times this year in a bid to bring down inflation, but the rate increases look set to continue as inflation nu... Read the Full Story |
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Healthcare | | Investors love to learn about companies like Cross Country Healthcare (NASDAQ: CCRN) with a long history of profitability, and revenue growth, and one that’s bucking the market’s downtrend.
The Boca Raton, Florida company provides staffing and outsourcing services for health profession... Read the Full Story |
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Technology | | “This was a solid second quarter for BlackBerry, where we delivered both revenue in line with, and EPS ahead of, expectations,” said John Chen, Executive Chairman & CEO, BlackBerry. “Our IoT business continues to gain market share, and design-phase revenue remained at near-reco... Read the Full Story |
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Friday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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