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: Elon’s big $266,000 per second purchase (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 | | Bill Poulos is offering his Smart Trade Options Checklist at no cost today - normally priced at $29.97.
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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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Medical | |
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 | | Trump is launching a new $250 bill - but that may be a distraction. Behind the scenes, Executive Order 14241 is orchestrating what analyst Porter Stansberry calls a total U.S. money reset, bypassing conventional legal channels under the guise of national security.
The last time America reset its currency - under Nixon in the 1970s - it created an average of 1,300 new millionaires a day for over 50 years. Stansberry has identified three asset categories connected to Trump's initiative that could surge, plus his single top investment move. | | Watch the documentary briefing and find out which side you land on |
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Medical | |
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 | | Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the digital dollar. They gave us the timeline… 2025 to 2030. We're in that window right now.
Once the digital dollar launches, every transaction you make will be tracked. Your spending could be controlled. Your accounts could be frozen.
Over 4,500 investors have already used this legal backdoor to hold assets CBDCs can't freeze and generate yields the Federal Reserve can't touch. | | Watch how to access the legal backdoor before it closes. |
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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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Auto/Tires/Trucks | |
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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Finance | |
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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Aerospace | |
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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