Good MorningEquity markets retreat on Wednesday on a double dose of bad news. On the earnings front, better-than-expected earnings are offset by weak guidance, while on the economic front, the yield on the 10-year treasury rose to another new high. The 10-year rise suggests the FOMC will continue to hike rates to near 5.0% in its fight against inflation. The Fed needs to see a significant decline in demand to ensure inflation is tamed, which has yet to be seen in the data.
The S&P 500 fell more than 1.25% at the session's low, showing persistent resistance at the short-term 30-day EMA. If that level can't be crossed, the market will likely fall. The decline could build significant momentum if the guidance continues to be negative. The S&P 500 could fall back to the recent low or lower in this scenario. Critical support is near 4,224 for the S&P, a move below there could produce another 5% decline for stocks. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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Texas Instruments (NASDAQ: TXN) shares are down 25% from their pandemic highs, which no investors wish to see. However, Texas Instruments is a buy-and-hold-forever stock, so the 25% discount is good news for investors. Buy-and-hold forever stocks are blue chip names that pay dividends, have reliab... Read the Full Story |
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Markets | | | The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts Read the Full Story |
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Plenty of businesses, such as PepsiCo Inc. (NYSE: PEP) and Walmart Inc. (NYSE: WMT), have been under the microscope on fears of potential earnings decreases due to growing use of products like Novo Nordisk A/S' (NYSE: NVO) Ozempic, and similar drugs made by Eli Lilly & Co. (NYSE: LLY).
... Read the Full Story |
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Stocks | | | Shares of United Airlines tumbled 9.7% on Wednesday after the carrier gave a gloomy outlook for its fourth-quarter profit, which will be reduced by rising jet fuel prices.In addition, United's revenue could be under pressure the longer that flights to Israel are suspended for the Israel-Hamas war.Un... Read the Full Story |
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Markets | | | Chinese President Xi Jinping promised foreign companies greater access to China’s huge market and more than $100 billion in new financing for other developing economies as he opened a forum Wednesday on his signature Belt and Road infrastructure initiative. Xi's initiative has built power plants, ro... Read the Full Story |
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Abbott Laboratories (NYSE: ABT) share price has trended lower for nearly 2 years, but that trend is over. The impact of COVID on sales and the post-COVID letdown were cause enough for the market to sell, but not now; the market is oversold and overextended with normalization at hand. Normalization... Read the Full Story |
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Markets | | | China’s economy slowed in the summer as global demand for its exports faltered and the ailing property sector sank deeper into crisis, the government said Wednesday. The world's second-largest economy expanded at a 4.9% annual pace in July-September, beating analysts’ forecasts of about 4.5%, offici... Read the Full Story |
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Despite hitting all-time highs last year as one of the best stocks to own during a recession, Dollar Tree Inc (NASDAQ: DLTR) has been on the defensive since the summer. Until this past August, their shares had held an almost unmatched track record of rallying before, during, and after the pan... Read the Full Story |
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Markets | | | Inflation in the U.K. held steady at 6.7% in September as easing food and drink price rises were offset by higher prices at the pump for motorists, official figures showed Wednesday.The flat reading reported by the Office for National Statistics was disappointing as most economists had predicted ano... Read the Full Story |
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ASML Holding (NASDAQ: ASML) is an excellent buy for AI exposure. It is the only manufacturer of advanced lithography technology to make the world’s most advanced chips. And the rise of AI is not the only driver for this business. The world is expanding its chip-making capabilities, including... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Renalytix Plc develops artificial intelligence-enabled in vitro diagnostic solutions for kidney diseases. The company offers KidneyIntelX, a diagnostic platform that employs an artificial intelligence-enabled algorithm that combines various data inputs, including validated blood-based biomarkers, inherited genetics, and personalized patient data from electronic health record systems to generate a unique patient risk score. Its products are used in kidney disease diagnosis and prognosis, clinical care, patient stratification for drug clinical trials, and drug target discovery. Renalytix Plc has a license agreement with Mount Sinai Health System to develop and commercialize licensed products in connection with the application of artificial intelligence for the diagnosis of kidney disease; and Joslin Diabetes Center, Inc. for developing and commercializing products for diagnosing and predicting kidney disease using biomarkers. The company also has a partnership agreement with Atrium Health, Wake Forest Baptist Health, and Wake Forest School of Medicine to implement an advanced clinical care model designed to improve kidney health and reduce kidney disease progression and kidney failure. The company was formerly known as Renalytix AI plc and changed its name to Renalytix Plc in June 2021. Renalytix Plc was incorporated in 2018 and is based in New York, New York. | | View Today's Stock Pick |
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