Good MorningEquity markets are showing signs of caution if not topping in the face of a declining outlook for Q4 2022 and 2023 earnings for the S&P 500. The action on Tuesday had the market up from the open but moving sideways from Monday's action with resistance just above the 4,000 level. The caution is due to a raft of economic data that is due out Wednesday through Friday that culminates with the PCE price index on Friday. The index is expected to accelerate on a sequential basis but to decelerate versus last year which is a mixed signal indeed. A slowdown in YOY inflation is good but it doesn't mean much with inflation still running at more than double the Fed's 2.0% target and accelerating in the near term.
News that didn't get much attention on Monday is the Index of Leading Indicators. The Index of Leading Indicators fell by -1.0% and 0.3% faster than expected. This is just shy of the worst reading in the last few years which was last month and points to increasingly weak conditions within the US economy. Featured: Elon’s big $266,000 per second purchase (Ad) 
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Medical | |
Biotech Pliant Therapeutics Inc. (NASDAQ: PLRX) zoomed 34% higher on January 23 and added to that gain in the subsequent session.
The gap-up followed the company’s announcement of results for a treatment for a lung condition known as idiopathic pulmonary fibrosis.
Patients with this cond... Read the Full Story |
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Medical | |
The 2023 calendar year has already been rocky for many biotech companies. Just three weeks into the new year, layoffs are already plaguing the industry. Of course, while layoffs may not be the most desirable outcome for those in the industry, they can be a boon for investors.
Among those who have... Read the Full Story |
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Aerospace | |
Sending satellites into orbit with rockets already has an established track record, but small-cap Rocket Lab USA, Inc. (NASDAQ: RKLB) staged its first U.S. launch on January 24. The payload consisted of three small satellites.
The company went public in April 2021 via a merger with special purpos... Read the Full Story |
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From Our Partners | | Trump is launching a new $250 bill - but that may be a distraction. Behind the scenes, Executive Order 14241 is orchestrating what analyst Porter Stansberry calls a total U.S. money reset, bypassing conventional legal channels under the guise of national security.
The last time America reset its currency - under Nixon in the 1970s - it created an average of 1,300 new millionaires a day for over 50 years. Stansberry has identified three asset categories connected to Trump's initiative that could surge, plus his single top investment move. | | Watch the documentary briefing and find out which side you land on |
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Markets | |
Baudax Bio (NASDAQ: BXRX) shares spiked as much as 70% on its announcement of positive interim phase 2 clinical trials for its pain medicine BX1000. While the interim positive outcome is based on a 20-patient group, it expects to complete the phase 2 trial with 80 patients by the end of the first ... Read the Full Story |
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Retail/Wholesale | |
It was supposed to be a rough year for retailers. You wouldn’t know it by their stock charts.
The National Retail Federation predicted that November and December sales would grow around 7%. As it turned out, inflation and higher interest rates had a bigger-than-expected impact on holiday sh... Read the Full Story |
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From Our Partners | | Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the digital dollar. They gave us the timeline… 2025 to 2030. We're in that window right now.
Once the digital dollar launches, every transaction you make will be tracked. Your spending could be controlled. Your accounts could be frozen.
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Aerospace | |
The Q4 reports from Raytheon (NYSE: RTX) and Lockheed Martin (NYSE: LMT) echoed each other in that results are strong, growth is on the table, earnings and cash flow are ample, and capital returns are on the rise. What this means for investors is that it might be time to start getting defensive wi... Read the Full Story |
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Industrials | |
If you are wondering if Crane Holdings (NYSE: CR) stock will take flight and move up to a new high, the odds are high that it won’t, at least not right away. Numerous factors in play point to higher prices, but headwinds are also in place that may keep the stock from moving significantly hig... Read the Full Story |
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Technology | |
Shares of Qualcomm Technologies Inc. (NASDAQ: QCOM) continue to push higher the day after the company received a bullish upgrade from Barclays. An upgrade like that so close to the company’s quarterly earnings report due on February 1 is a bullish sign for a stock that many investors have ha... Read the Full Story |
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Auto/Tires/Trucks | |
EVgo Inc. (NYSE: EVGO) operates a growing clean energy network of direct current (DC) fast charging stations. The Company offers both level 2 and level 3 charging stations located throughout the U.S. It competes with charging networks operated by ChargePoint Holdings Inc. (NYSE: CHPT), Blink Charg... Read the Full Story |
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Technology | |
Weak outlook or not, the price action in Verizon (NYSE: VZ) is putting in a bottom. The candle formed in the wake of the Q4 results is strong and confirms a rising level of support even when adjusted for unusual market activity. Coincidentally, Verizon was subject to a trading halt related to impr... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day ONEOK, Inc. engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Nebraska, Iowa, and Illinois; NGL distribution pipelines in Kansas, Nebraska, Iowa, Illinois, and Indiana; transports refined petroleum products, including unleaded gasoline and diesel; and owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities. Further, it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space and rail cars. Additionally, the company transports, stores, and distributes refined products, NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and heating fuel users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma. | | View Today's Stock Pick |
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