Good MorningEquity markets advanced on Monday in hopes that the CPI data will confirm the cooling of inflation. The risk for investors is that it will come in hotter than expected and prove the FOMC right to sound so hawkish. Even if the CPI comes in as-expected, it calls for a 5.4% increase in core consumer inflation versus last year, which is no reason to think the FOMC will back off its policy stance soon.
The most significant risk for the market, as always, is the earnings outlook. The S&P 500 earnings growth outlook continues to deteriorate and may soon turn negative for the year. In this scenario, US businesses are already in an earnings recession, which could linger until the end of the year. The good news is that this year's decline will set the market up for a return to growth in 2024, but that assumes the FOMC will start lowering rates by then. Featured: Elon's new "super startup" (Ad) 
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Markets | |
Late last year, shares of Life Storage, Inc. (NYSE: LSI) slipped below $100, culminating a rough year for self-storage real estate investment trusts (REITs).
A nightmare scenario of soaring apartment rents and rising mortgage rates kept more Americans in their homes — and demand for storag... Read the Full Story |
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Consumer Discretionary | |
As if a beat on its EPS and revenue estimates wasn’t enough in last week’s earnings report, Ralph Lauren Corp (NYSE: RL) got another feather in its cap. As the bell rang to start yesterday’s trading, the team at Bank of America upgraded their rating on Ralph Lauren stock, moving ... Read the Full Story |
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Technology | |
Chegg (NYSE: CHGG) has helped college students ace their courses for several years, often with little to no actual work. Chegg's massive homework and exam answers database has become indispensable for many students who have grown accustomed to doing little homework.
But the hype around ChatGPT an... Read the Full Story |
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From Our Partners | | On July 17th, the House passed the GENIUS Act - and at least one prominent Trump ally is raising alarms. Rep. Marjorie Taylor Greene claims the bill contains 'the entire setup, groundwork and infrastructure to move from cash to digital currency.'
If the legislation becomes law, the implications for how Americans store and control their money could be significant. There may be a limited window to act before it takes effect. | | Learn what steps you can take to protect your wealth before this becomes law |
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Consumer Discretionary | |
At his State of the Union address, US President Joe Biden promoted the Junk Fees Prevention Act (JFPA) to eliminate "junk fees". The act introduced in October of 2022 was initially aimed at the airline industry. The scope has expanded to include various industries, including credit cards, banking,... Read the Full Story |
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Consumer Discretionary | |
With the U.S. economy teetering towards a recession, Wall Street’s estimates for corporate earnings have been trending lower. On the bright side, this could create more opportunities for traders to gain on positive earnings surprises.
For the mid-cap S&P 400 index, analysts are projecti... Read the Full Story |
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From Our Partners | | The International Energy Agency measured it at 140 times global electricity demand. It runs 24 hours a day, produces zero carbon, and needs no fuel, no batteries, or sunlight.
A crew near the Grand Canyon drilled three miles underground in just 16 days. Google signed a 15-year contract, Bill Gates invested $100 million, and the Pentagon called it priority one. On August 18th, Washington grants this energy source a competitive advantage through 2033. | | See the one company controlling the technology with no competition in sight |
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Medical | |
In early February 2023, Medtronic PLC (NYSE: MDT) was found guilty of patent infringement regarding Colibri Heart Valve LLC transcatheter aortic valve replacement system (TAVR). While this is certainly troubling for one of the biggest medical technology manufacturers in the world, it may not signi... Read the Full Story |
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Technology | |
While 2023 is not shaping up to be as strong as the analysts had initially hoped, results from Checkpoint Software (NASDAQ: CHKP) confirm news released by F-5 Networks (NASDAQ: FFIV) and Cloudflare (NASDAQ: NET): 2023 won’t be as bad as it could have been. The takeaway from all this is that ... Read the Full Story |
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Consumer Discretionary | |
Investors may be shaking their heads over why the stock fell when earnings were strong as they raised their fiscal full-year 2023 EPS guidance. Sports apparel and footwear manufacturer Under Armour Inc. (NYSE: UAA) recorded solid fiscal 2023 earnings, but shares faded the premarket 8% gap and sold... Read the Full Story |
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Energy | |
Shares of Chevron Corporation (NYSE: CVX) gapped up 2.10% in heavy volume on February 10, following news that Russia was cutting oil production by 500,000 barrels a day.
With a market capitalization of $332.53 billion, Chevron is the second-largest stock within the S&P energy sector, trailin... Read the Full Story |
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Auto/Tires/Trucks | |
Mullen Automotive (NASDAQ: MULN) and its investors still have risks and hurdles to overcome, but, those risks aside, bullish sentiment is building in the stock. The #1 most telling news is a 13F-HR filed by Vanguard Group Inc stating a more-than-doubling of their position in the company.
Accordin... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Old Dominion Freight Line, Inc. operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting. As of December 31, 2023, it owned and operated 10,791 tractors, 31,233 linehaul trailers, and 15,181 pickup and delivery trailers; 46 fleet maintenance centers; and 257 service centers. Old Dominion Freight Line, Inc. was founded in 1934 and is headquartered in Thomasville, North Carolina. | | View Today's Stock Pick |
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