Good MorningEquity markets pulled back on Thursday after setting a new intra-day high. A hotter-than-expected read on CPI underpinned by rising gasoline and housing costs sparked the sell-off, leaving investors wondering what to do next. That may be decided today following results from the Big Banks, which are expected to show significant top and bottom-line growth driven by higher interest rates. The takeaway from the reports will be centered on the economy, consumer health, and the outlook for capital returns.
The rebound in the S&P 500 appears to be over. The index shed about 1% after hitting the new high and showed significant resistance at the 30-day moving average. If the market follows through on this signal, it will continue to sell off regardless of bank results. The next FOMC meeting is 3 weeks away; the market does not expect another hike but it is bracing for another hawkish statement. Featured: MindWalk Holdings Pushes AI Into Pharma Research (Ad) 
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Communication Services | |
Having traded mostly sideways for the past two years, albeit with a slightly downward lean, shares of video game maker Electronic Arts Inc (NASDAQ: EA) have been rallying hard this month. They're up more than 10% and on track for their longest run of up days since May of last year.
It will make ... Read the Full Story |
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From Our Partners | | In 1974, a quiet deal between Henry Kissinger and the Saudis reshaped America's monetary order overnight, with no announcement and no vote in Congress.
Decades later, the dollar had lost more than 84% of its purchasing power even as millionaire ranks surged into the millions.
Financial reporter Kimi Weintraub sits down to explore a new, largely unnoticed shift in America's monetary system, one tied to executive orders and a reported 13-nation agreement. | | Watch the full interview before the December 14 Miami summit |
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Markets | |
Walgreens Boots Alliance (NASDAQ: WBA) shares are down significantly over the past two years and may fall further. The company's turnaround efforts are slowly taking hold, and the impact of COVID-19 sales continues to weigh on results. However, the Q3 results show improvement in sales across all s... Read the Full Story |
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Communication Services | |
Movie theater chains, at least some, are reeling in the profits as audiences flock back. Cinemark Holdings Inc. (NYSE: CNK) pivoted back to profitability in the most recent quarter after suffering losses in most quarters since 2020.
Imax Corp. (NYSE: IMAX) reported a profit in 2022, and the compa... Read the Full Story |
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From Our Partners | | Barrick Mining has spent decades building one of the world's great gold districts in Nevada, anchored by Fourmile, Goldrush, and Cortez Hills, a region that could hold as much as 60 million ounces of gold.
Bordering Fourmile and less than a mile from Goldrush sits a little-known explorer now moving from historical data toward active exploration, setting targets and preparing for a maiden drilling program.
With gold trading near record highs, this could be a pivotal stage for an overlooked name in the district. | | See why this overlooked gold explorer could be entering its most important stage |
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Industrials | |
Delta Air Lines (NYSE: DAL) put the fear of rising oil prices into the market when it cut guidance for Q3. While rising oil prices impacted profitability, the 25% pullback in price action that has taken place since July is overblown. The company’s Q3 results and outlook confirm that Delta is... Read the Full Story |
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Consumer Discretionary | |
Domino’s Pizza (NYSE: DPZ) is no high-yielding stock, but it’s not the yield that matters so much as the trajectory of distribution growth. This company pays a tiny fraction of its earnings in dividends, about 35%, and has solid cash flow and an outlook for sustained distribution growt... Read the Full Story |
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From Our Partners | | When Moonshot AI's new model rattled overnight markets, stocks gapped down 1 percent before the open, and history shows the story doesn't end there.
Between 9 30 and 9 50 AM, Wall Street settles nearly 25 percent of the day's total volume in a single 20 minute window, often revealing market direction for the rest of the morning.
A former money manager breaks down the floor data behind this pattern, including a June 25th session where inflation surged past 4 percent and the market moved just 0.3 percent afterward. | | Watch the full video breakdown before access is taken down |
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Healthcare | |
Over the last several months, many sectors, industries, and the overall market have come under pressure and experienced significant outflows and waves of selling.
During this period, over the last three months, the SPDR S&P 500 ETF Trust (NYSE: SPY), which provides exposure to the S&P 50... Read the Full Story |
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Healthcare | |
Novo Nordisk A/S (NYSE: NVO) stock is up 38.97% this year on the strength of weight loss drug Ozempic, and diabetes treatment Wegovy.
But does Novo Nordisk’s good fortune translate to lower sales for companies like Walmart Inc. (NYSE: WMT), Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (NASDAQ:... Read the Full Story |
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Energy | |
The rumors about Exxon Mobil Corp. (NYSE: XOM) being in talks to acquire Pioneer Natural Resources Co. (NYSE: PXD) turned out to be true after all.
Exxon Mobil said on October 11 that it was merging with Pioneer in an all-stock transaction valued at $59.5 billion, or $253 per share.
Shares of ... Read the Full Story |
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Energy | |
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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Industrials | |
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 isn't perha... 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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