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: Wall Street Bets Big on Prediction Markets Heres a Microcap to Watch (Ad) 
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Healthcare | |
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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From Our Partners | | Barrick Mining has spent decades building one of Nevada's richest gold districts, anchored by Fourmile, Goldrush, and Cortez Hills, deposits that could hold up to 60 million ounces of gold.
One overlooked explorer controls 142 claims bordering Fourmile and sitting less than a mile from Goldrush. New geological modeling aims to reveal what's beneath this largely untested ground, while a planned 5% royalty spin-off could give shareholders a separate stake in the project. | | Read the full report before the next catalyst hits |
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Healthcare | |
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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Industrials | |
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 | | On January 1, 2027, new Pentagon rules tighten sourcing restrictions on critical minerals tied to foreign adversaries. China controls more than 90% of global rare earth processing capacity, while the U.S. imports 100% of its titanium sponge.
SAGA Metals has drilled more than 23,000 meters at its Radar project, with all 92 drill holes intersecting mineralization. A maiden mineral resource estimate is expected in Q4 2026, alongside ongoing drilling at the Wolverine heavy rare earth project. | | See what's next for SAGA Metals before the deadline hits |
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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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Consumer Discretionary | |
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 | | Each morning, the Wave Software scans the market for stocks quietly building momentum over days or weeks, then narrows the list to a single name showing signs of an imminent move.
From there, it outlines specific options criteria designed to match that potential move, giving traders a complete setup before the market opens.
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Industrials | |
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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Consumer Discretionary | |
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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Communication Services | |
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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