Good MorningEquity markets stumbled on Wednesday morning following a mixed PPI report. The Producer Price Index came in hotter than expected at the headline level, showing another acceleration. The monthly gain led to a 2.2% increase compared to last year, the hottest read in months. The core readings were cooler than expected but will likely rise soon. However, the risk for the market comes today with the release of the CPI. Hot CPI data should reinforce the idea that the FOMC will hike rates again this year, but the impact on markets is uncertain.
The S&P 500 continues to defy all logic and closed Wednesday's session with a gain. The combination of hot PPI and Fed minutes did little to stymy bulls, who sent the index up another 0.4% at the end of the session. The move extends the rebound to a 6th day, and a retest of recent highs looks likely. With the earnings season slated to begin on Friday, it is possible the S&P 500 could move up to retest the 2023 highs and possibly set a new high. Featured: Watch This Robotics Demo Before July 23rd (Ad) 
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Once again, a brief look at the MarketBeat list of Most Downgraded Stocks proves that opportunity is where you find it. While solar stocks have seen their share prices plummet over the past few quarters, driven by analysts' revisions and short selling, the markets appear to be overextending and ov... Read the Full Story |
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Stocks | | | Birkenstock stumbled in its stock market debut Wednesday, a day Wall Street traded in its wingtips for sandals.Some traders on the floor of the New York Stock Exchange donned the iconic opened-toed footwear, and Birkenstock CEO Oliver Reichert rang the opening bell, with people around him waving san... Read the Full Story |
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Despite having plunged more than 10% through September and into October, the iShares U.S. Aerospace & Defense ETF (BATS: ITA) has been bouncing back hard this week.
It was a fall that forced the stock's RSI to hit the low 20s, indicating highly oversold conditions, so a snapback i... Read the Full Story |
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The world of electric vehicles (EVs) has been the latest boom coming from the economy's technology and artificial intelligence pockets. Where there is money to be made, you better bet a lot of new players will spur up like wildfire. Your job today is to move past the crowd and land a clear winner.... Read the Full Story |
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AI is hot, and AI means robots, robotics, and automation, among other avenues of advancement. The takeaway from this article is that insiders are buying robot stocks, and there are two of particular interest. On the one hand, we have beaten up Zebra Technologies (NASDAQ: ZBRA), a maker of IoT-conn... Read the Full Story |
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Stocks | | | Asian shares mostly rose Thursday as investors awaited the release of U.S. consumer price data and kept a cautious watch on the war between Israel and the Palestinian militant group Hamas. Japan's benchmark Nikkei 225 jumped 1.6% to 32,442.08. Sydney's S&P/ASX 200 gained 0.1% to 7,097.50. South ... Read the Full Story |
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Microsoft Corp. (NASDAQ: MSFT) is reportedly eyeing a Friday the 13th close for its acquisition of Activision Blizzard Inc. (NASDAQ: ATVI).
The companies announced the acquisition way back in January 2022, and Microsoft has run a gauntlet of regulatory scrutiny in the U.S. and the U.K.
The... Read the Full Story |
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Markets | | | New York officials launched legal recreational marijuana sales by promising many of the first retail licenses to people with past drug convictions, hoping to give people harmed by the war on drugs a chance to succeed before competitors crowded in.But more than nine months after sales started, only a... Read the Full Story |
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Markets | | | Donald Trump obtained hundreds of millions of dollars in loans using financial statements that a court has since deemed fraudulent, a retired bank official testified Wednesday at the former president’s New York civil fraud trial.Trump’s “statements of financial condition” were key to his approval fo... Read the Full Story |
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Markets | | | Germany's government said Wednesday that it expects the country's economy to shrink by 0.4% this year, joining a string of other forecasters in revising sharply downward its outlook for Europe's biggest economy.The revised forecast contrasted with the 0.4% growth that the government predicted in lat... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Aspen Group, Inc., an education technology company, provides online higher education services in the United States. The company offers baccalaureate, master's, and doctoral degree programs in nursing and health sciences, business and technology, arts and sciences, and education fields through Aspen University and United States University. As of April 30, 2022, it had 13,334 degree-seeking students enrolled. Aspen Group, Inc. was founded in 1987 and is based in New York, New York. | | View Today's Stock Pick |
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