Good MorningEquity markets rebounded on Wednesday, bolstered by the FOMC policy decision. The FOMC held rates steady as expected and made little to no change in the statement. The most glaring change is the outlook on economic growth, which was upgraded. The committee says the economy expanded rapidly, ultimately bad news for stocks. With economic activity still robust and potentially accelerating, the odds that inflation will recede to 2% soon are dwindling. In this scenario, the FOMC may not hike rates again this cycle, but the first interest rate cut is a long way off.
The S&P 500 gained over 1% on Wednesday, extending the rebound to 3 days. The caveat is that this move is a relief rally within a downtrend and below critical resistance. If the market can not extend the rally on Thursday, there is a chance the sell-off will resume. In this scenario, it doesn't matter what the Fed does now, only the impact on earnings and the outlook for S&P 500 earnings growth.
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Technology | |
First Solar (NASDAQ: FSLR) shares are down significantly from the peak set earlier this year, but the odds are high that the peak will be retested and surpassed in 2024. The company has established itself as a blue-chip leader in the solar electrification industry, and now shares are trading at a ... 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.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Healthcare | |
The Dow Jones Industrial Average of blue chip stocks is trading higher for the week, but is still in correction territory, having posted losses in each of the past three months.
However, it’s a smart idea to keep your watch list current during market downturns. Stocks that hold up better th... Read the Full Story |
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Industrials | |
After a few quarters of lackluster growth in the United States economy, the past quarter's GDP figures rose to beat economist expectations and even bring about expansion on real terms (that is, adjusting for inflation). A 4.9% growth rate successfully shrugged off interest rate hikes from the FED,... Read the Full Story |
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From Our Partners | | Matt Monaco started with a $2,000 trading account and no clear strategy. After two years of trial and error, he crossed $1 million in 2020.
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Technology | |
Advanced Micro Devices (NASDAQ: AMD) share price pulled back following the Q3 release, setting the market up for a solid rebound. The price action in this market is oversold after retracing from its 2023 peak and showing signs of support at critical price levels. Because support coincides with an ... Read the Full Story |
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Communication Services | |
Social media platform Snap Inc. (NYSE: SNAP) had a mixed bag of results for its third quarter of 2023, but it's apparent that North America has become a mature market while Europe and the rest of the world (ROW) are the real growth engines. Integrating artificial intelligence (AI) technology into ... 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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Communication Services | |
Global streaming audio platform Spotify Technology SA (NASDAQ: SPOT) had an impressive third quarter of 2023. Its metrics have improved, and the integration of artificial intelligence (AI) into its platform is making noticeable improvements in its business. Spotify has used personalization as a ke... Read the Full Story |
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Technology | |
Check Point Software (NASDAQ: CHKP) is not a high-flying hyper-growth story but a solid, blue-chip name in cybersecurity. It produces growth, but slowly. The more attractive feature is its cash flow and share repurchasing power. Check Point Software is a cash flow engine that drives shareholder va... Read the Full Story |
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Real Estate | |
Traditional businesses typically become stagnant or outright 'boring' due to a combination of positive and negative factors. On the positive side, stagnation and stability come from the 'if it's not broken, don't fix it' attitude of doing things the same as before just because they've been working... Read the Full Story |
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Healthcare | |
The Health Care Select Sector SPDR Fund (NYSEARCA: XLV) was down 3.81% in the past month and 8.03% in the past three months. The latest round of pharmaceutical stock earnings isn't helping sector performance.
S&P 500 components Bristol Myers Squibb Co. (NYSE: BMY), AbbVie Inc. (NYSE: ABBV),... Read the Full Story |
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Industrials | |
Shares of Caterpillar (NYSE: CAT) fell after a sequential slow-down in business. The slowdown suggests slowing in the industrial equipment industry, foreshadowed by competitors such as Volvo (OTCMKTS: VOLVY), but it’s not the worry for investors that it could be. For 1, the slowdown is seaso... Read the Full Story |
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Thursday's Early Bird Stock Of The Day ASLAN Pharmaceuticals Limited, a clinical-stage immunology focused biopharmaceutical company, engages in developing various treatments to transform the lives of patients. The company's clinical portfolio comprises eblasakimab (ASLAN004), a monoclonal antibody that targets the IL-13 receptor a1 subunit which is under Phase 2 developed for the treatment of atopic dermatitis and other immunology indications; and farudodstat (ASLAN003), an orally active, potent inhibitor of human dihydroorotate dehydrogenase currently under Phase 2 clinical trials for the treatment of autoimmune diseases. It has research collaboration agreement with Zenyaku Kogyo Co., Ltd. for the development and commercialization of eblasakimab in atopic dermatitis and all other indications in Japan. The company was founded in 2010 and is headquartered in Singapore. | | View Today's Stock Pick |
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