Good MorningThe S&P 500 fell for another week shedding more than 1.5% at the low of the day on Friday alone making this the 3rd consecutive week of declines. The S&P 500 is down more than 10% from the recent high and heading lower if the recent signals are to be believed. The next target for support for the S&P 500 is near the 3,650 level and it may not be strong enough to keep the market from setting a new low. A move below the 3,650 level would open the door to 3,525 and the potential for a bigger move down to 2,800.
The hurdle for the market this week will be the Fed's Beige Book on Wednesday. The Beige Book is not expected to give any insight into the psyche of the Fed but it will give a broad view of economic conditions. The takeaway is likely to be tight labor markets, tight supply chains, and rising inflation which will all underpin the outlook for FOMC policy tightening. Featured: Sell these "safe" blue chips immediately (Ad) 
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Finance | |
It’s been a tough year for payments platform fintech Block (NYSE: SQ) stock as it trades down (-58%) on the year. The old adage, “it’s better to have had and lost, than to never had it at all” is what optimistic investors must remind themselves every day. The pandemic was a... Read the Full Story |
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From Our Partners | | Porter Stansberry nearly canceled the entire project. When he first saw the claimed returns - only one down year in nearly two decades and total gains of almost 2,000% - his immediate reaction was disbelief.
It took a trusted friend's personal vouching for Emmet Savage and a face-to-face trip to Ireland to change his mind. The full documentary, Investigating Project Prophet, is now live. | | Watch the full story and see the verified track record for yourself |
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Markets | | You’ve heard the term inverted yield curve (IYC) mentioned on many occasions in the media, even on the evening news. It has a negative stigma attached to it, but like many people, you may not know what it actually means or how it can affect you. A yield curve is created on a graph by plotting ... Read the Full Story |
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Markets | |
Soon autumn leaves will do their best impression of this year’s U.S. stock market— a lot of falling.
Barring a miraculous late year run, the major indices will finish in the red for the first time since 2018. That means the ETFs that track them, will drag down many investment account ... Read the Full Story |
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From Our Partners | | Moderna's stock doubled in a single day after its cancer vaccine hit key Phase 3 goals, and Merck jumped too. But according to a former Steve Cohen fund manager, the next big opportunity is not Moderna or Merck.
It is a different kind of company tied to a technology already backed by Elon Musk, Sam Altman, Jeff Bezos, and Peter Thiel. Nvidia's Jensen Huang says it will have a dramatic impact on daily life, while Anthropic's CEO believes it could unlock a century of medical progress in just ten years.
Nature Magazine estimates its potential value at $367 trillion globally, and it is already rolling out across the United States. | | Click here to learn about this new era of medical technology |
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Communication Services | |
Snapchat (NYSE: SNAP), continues to face fundamental issues and has resorted to restructuring the company during the quarter by announcing the layoff of its Web3 team. Snapchat reducing its headcount resulted in the stock rallying by over 7% during market hours as investors look forward to the com... Read the Full Story |
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Healthcare | | Does kicking against market trends make you even more excited about investing? If so, you may want to consider drugmaker Viatris Inc. (NASDAQ: VTRS), which produces products that treat diabetes, immunology and oncology. Viatris' portfolio has a wide variety of recognized brands and branded medici... Read the Full Story |
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From Our Partners | | Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying out up to $1,152 a month to regular investors - no mining stocks, no options, no physical metal required.
Chief Income Strategist Tim Plaehn calls it a breakthrough strategy that transforms gold's rally into reliable monthly payouts. The next distribution is just days away. | | Discover the gold income fund before the next payout date |
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Consumer Staples | |
Hormel (NYSE: HRL) is not the cheapest pick in the consumer staples sector (NYSEARCA: XLP) but it is one of the better values. The stock trades at 25X its earnings compared to 15X at the low end of the range with Kraft-Heinz (NASDAQ: KHC) and upwards of 28X to 30X for names like Clorox (NYSE: CLX... Read the Full Story |
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Consumer Discretionary | | Just when equities were starting to look shaky again after a decent run to end the summer, athleisure brand Lululemon (NASDAQ: LULU) has given the would-be bears pause for thought. They reported their Q2 earnings after the bell rang to end yesterday’s session, and the numbers were red hot. Kee... Read the Full Story |
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Consumer Discretionary | |
Nike (NYSE: NKE) stock is approaching its 52-week low made in July. That’s presenting an interesting dilemma for investors. On the one hand, if the stock holds the July lows as a support level, a technical case can be made that NKE stock is oversold.
On the other hand, a weakening economy ... Read the Full Story |
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Materials | | Back in the day, as in pre-2013, aluminum manufacturer Alcoa (NYSE: AA) made financial headlines every quarter as the first Dow component to report earnings. In some ways, it served as a bellwether for what investors could expect in every earnings season. I was a financial journalist throughout the ... Read the Full Story |
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Consumer Discretionary | | Is it even possible that companies like Royal Caribbean Cruises (NYSE: RCL) can ever return to smooth sailing?
Prior to 2020, the company was posting steadily increasing earnings. Then, of course, it hit that iceberg. It reported a loss of $18.31 per share in 2020, and an even bigger loss, $19.19 ... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Lowe's Companies, Inc., together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical. In addition, the company offers installation services through independent contractors in various product categories; and extended protection plans and repair services. It sells its national brand-name merchandise and private brand products to professional customers, homeowners, renters, businesses, and government. The company also sells its products through Lowes.com website; and through mobile applications. Lowe's Companies, Inc. was founded in 1921 and is based in Mooresville, North Carolina. | | View Today's Stock Pick |
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