Good MorningEquity markets were mixed on Wednesday, with the S&P 500 struggling to extend its longest winning streak in 2 years. The move comes after a sharp melt-up driven by the Q3 earnings season, cooling inflation, and evidence the Fed is nearing the peak of the rate hike cycle, so a slowdown in upward momentum is expected.
The caveat for investors is that the new normal is still in place and will continue to drag on corporate earnings over the coming quarters. The S&P 500 may continue to rally from here, but there is risk. The market is still below critical resistance at the 4,400 level and may have difficulty moving above it without another significant catalyst.
All eyes will be on central bankers on Thursday. Central bankers from around the world will participate in a panel discussion. The topic is global financial stability and will include inflation and interest rates. The risk in this event is talk of persistent inflation and lingering interest rates, which are hurting the global economy. Signals that inflation is tamed or that rates will soon fall could lift the market. Featured: Sell these "safe" blue chips immediately (Ad) 
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Consumer Staples | |
The Altria Group Inc. (NYSE: MO) has been reinventing itself, transitioning more towards smokeless tobacco products. Tobacco smoking has been trending lower for years. The percentage of adult smokers in the United States has declined from 42.6% in 1965 to 13.7% in 2018 and is expected to fall towa... Read the Full Story |
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From Our Partners | | Porter Stansberry nearly canceled the entire project. When he first saw the claimed returns - only one down year in nearly two decades and total gains of almost 2,000% - his immediate reaction was disbelief.
It took a trusted friend's personal vouching for Emmet Savage and a face-to-face trip to Ireland to change his mind. The full documentary, Investigating Project Prophet, is now live. | | Watch the full story and see the verified track record for yourself |
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Technology | |
Despite giving investors a mild heart attack during the first few days of public trading, shares of Birkenstock Holding plc (NYSE: BIRK) have been putting in a good shift ever since. In one of the more high-profile IPOs of the year, not least because of how recognizable the brand is, the 250-year-... Read the Full Story |
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Healthcare | |
Gilead Sciences (NASDAQ: GILD) share price tanked following the Q3 release on what was otherwise a good report. The company is gaining traction in key markets, sustaining its core business, and offsetting the expected decline in COVID-19 sales that aren't declining as fast as expected.
The takea... Read the Full Story |
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From Our Partners | | Moderna's stock doubled in a single day after its cancer vaccine hit key Phase 3 goals, and Merck jumped too. But according to a former Steve Cohen fund manager, the next big opportunity is not Moderna or Merck.
It is a different kind of company tied to a technology already backed by Elon Musk, Sam Altman, Jeff Bezos, and Peter Thiel. Nvidia's Jensen Huang says it will have a dramatic impact on daily life, while Anthropic's CEO believes it could unlock a century of medical progress in just ten years.
Nature Magazine estimates its potential value at $367 trillion globally, and it is already rolling out across the United States. | | Click here to learn about this new era of medical technology |
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Healthcare | |
Shares of Vertex Pharmaceuticals, Inc. (NASDAQ: VRTX) are down nearly 2% after the company delivered its third-quarter earnings report. The news wasn't particularly bad, although there was a slight miss on the top line.
But with VRTX stock up over 30% in 2023, it's fair to say that the stock wa... Read the Full Story |
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Energy | |
It’s yet to be seen whether Warren Buffett and Berkshire Hathaway (NYSE: BRK.A) are involved in the latest bounce in Occidental Petroleum (NYSE: OXY) shares, but it doesn’t matter. The Q3 results align with the thesis robust cash flow allows for share repurchases, dividend growth, and ... Read the Full Story |
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From Our Partners | | Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying out up to $1,152 a month to regular investors - no mining stocks, no options, no physical metal required.
Chief Income Strategist Tim Plaehn calls it a breakthrough strategy that transforms gold's rally into reliable monthly payouts. The next distribution is just days away. | | Discover the gold income fund before the next payout date |
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Technology | |
Data is generated every second around the clock. Oceans and oceans of data are all around us. That data has to be stored somewhere to be analyzed and used for whatever purposes. The viral adoption of artificial intelligence (AI) applications has accelerated the demand for storage. That's where the... Read the Full Story |
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Consumer Discretionary | |
Lucid Group (NASDAQ: LCID) investors are looking for clarity after the company reported a weak Q3. The would-be Tesla killer is struggling to gain traction in a market with rising demand but an oversaturation of its target model. Additionally, the cars' price point and the company’s lean i... Read the Full Story |
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Markets | |
There's a significant opportunity brewing behind the scenes in today's scattered stock market, where the consumer is the only pillar standing strong supporting the latest GDP growth figures, which, by the way, surpassed economist expectations in the past quarter.
Now, when it comes to consumer di... Read the Full Story |
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Consumer Discretionary | |
There's nothing like the fresh smell of opportunity in the morning, and what better way to couple today's winning pick than with a cup of coffee? If you are already caffeinated, this deal will make all the more sense to you. Do yourself a favor and get comfortable because you are about to finish t... Read the Full Story |
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Industrials | |
Just as it seemed investors were spooked by rising interest rates and geopolitical crises, Halloween week turned out to be the best week of 2023. A nearly 6% surge in the S&P 500 erased all of October’s losses thanks to cooler than expected economic data that has many thinking the Federa... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Orchid Island Capital, Inc., a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities. The company has elected to be taxed as a real estate investment trust (REIT) for the United States federal income tax purposes. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to stockholders, if it annually distributes dividends equal to at least 90% of its REIT taxable income to its stockholders. Orchid Island Capital, Inc. was incorporated in 2010 and is headquartered in Vero Beach, Florida. | | View Today's Stock Pick |
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