Good MorningEquity markets continued to sell off last week despite some better-than-expected earnings reports. The move was driven by hot economic data that points to persistent GDP growth, consumer demand, and inflation. With the FOMC meeting slated for the week, the risk is that hawkish Fed rhetoric will intensify and may telegraph the next policy move as an increase in rates. In this scenario, the S&P 500 could shed another 10% or more before hitting its bottom.
The S&P 500 shed more than 2.5% for the week, bringing the index below the critical 4,150 level. If the market doesn't snap back this week, the odds are high that the selling will continue. The question now is what could turn this market around, and it looks like it will take a great deal. The market may not be able to regain its footing until later in 2024 once the economic headwinds subside and inflation is finally tamed, or not. Featured: Trump goes "all-in" on Grand Canyon energy breakthrough (Ad) 
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Consumer Discretionary | |
The two largest iconic publicly traded toy companies released their Q3 2023 earnings reports. While the reports were starkly different, the reactions were similar in that they both saw their shares sell off. Two particular pieces of entertainment were lynchpins for each company in 2023. Ironically... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
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Technology | |
Cybersecurity stocks have been strong performers this earnings season. Many leaders are higher priced stocks in the $100 to over $300 range. Companies like Palo Alto Networks Inc. (NASDAQ: PANW) at $238, ServiceNow Inc. (NYSE: NOW) at $554, CrowdStrike Holdings Inc. (NASDAQ: CRWD) at $172, and Zsc... Read the Full Story |
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Energy | |
The clean energy segment is getting smoked this year as solar companies are warning of the collapse in installation demand. Companies like SolarEdge Technologies Inc. (NASDAQ: SEDG) and microinverter manufacturer Enphase Energy Inc. (NASDAQ: ENPH) recently slashed guidance, resulting in an additio... Read the Full Story |
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Technology | |
The post-pandemic pent-up demand generated travel boom may be starting to normalize based on recent data from the airlines. Airlines have cut forecasts but insist demand is still there. When it comes to the travel and leisure sector, dining and hospitality also see elevated activity levels. So, it... Read the Full Story |
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Markets | |
The United States economy has achieved something most bears never expected: gross domestic product (GDP) expanded by 4.9% during the past quarter, whereas economists only expected a 4.7% jump. Even in real growth terms, considering inflation, things have improved past any point of concern.
Some a... Read the Full Story |
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From Our Partners | | Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies.
Dr. Mark Skousen, who met Musk in person and called the SpaceX listing months early, says he has identified all three targets in what he calls Elon's $2.1 Trillion Hit List.
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Consumer Discretionary | |
If the economy is headed for a slowdown or recession, as many analysts expect, you might instantly think about doubling down on casino stocks. Boyd Gaming Corp. (NYSE: BYD), Caesars Entertainment Inc. (NASDAQ: CZR), Penn Entertainment Inc. (NASDAQ: PENN) and Wynn Resorts Ltd. (NASDAQ: WYNN) have s... Read the Full Story |
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Consumer Discretionary | |
Sluggish growth in the AWS segment or not, Amazon.com Inc. (NASDAQ: AMZN) is performing well in all segments, and its stock is poised to complete a total reversal.
Amazon led the charge into the cloud more than two decades ago and had little serious competition until now. Now, Microsoft Inc. (NA... Read the Full Story |
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Consumer Discretionary | |
Ford Motor Co. (NYSE: F) shares traded lower on October 27 after the automaker released third-quarter results, with the headline news being a more measured approach to electric vehicle production.
In the earnings conference call, Ford CEO Jim Farley said, “A great product is not enough in ... Read the Full Story |
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Healthcare | |
Shares of AbbVie Inc. (NYSE: ABBV) have been under pressure for nearly two years because of mounting fears about the patent cliff. The patent cliff impacted the company’s results but has done nothing to change its financial health, position, long-term outlook or ability to deliver value for ... Read the Full Story |
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Consumer Discretionary | |
Autonomous driving specialist and Intel Corp. (NASDAQ: INTC) spinoff Mobileye Global Inc. (NASDAQ: MBLY) gapped up at the open on October 26 after beating third-quarter profit and revenue estimates.
MarketBeat’s Mobileye Global earnings data show the company earning 22 cents a share on reve... Read the Full Story |
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Monday's Early Bird Stock Of The Day Arista Networks, Inc. engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications. The company offers data center and cloud networking systems, including newer artificial intelligence (AI) ethernet switching platforms; campus wired and wireless products, and routing systems addressing Core Routing, Edge Routing, Data Center Interconnect (DCI), Multi-cloud and Wide Area Networking (WAN) use cases; and a suite of value-add software solutions that leverage EOS to provide end-to-end orchestration, automation, analytics, network monitoring, and security. It also provides post contract customer support services, such as technical support, hardware repair and replacement parts beyond standard warranty, bug fixes, patches, and upgrade services. The company serves a range of industries comprising internet companies, service providers, financial services organizations, government agencies, media and entertainment companies, telecommunication service providers, and others. It markets and sells its products through distributors, system integrators, value-added resellers, and original equipment manufacturer partners, as well as through its direct sales force. The company was formerly known as Arastra, Inc. and changed its name to Arista Networks, Inc. in October 2008. Arista Networks, Inc. was incorporated in 2004 and is headquartered in Santa Clara, California. | | View Today's Stock Pick |
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