Good MorningEquity markets cheered a 25 basis point interest rate hike from the FOMC on Wednesday and drove the S&P 500 up more than 1.0% on the news. However, the takeaway from the statement is that the FOMC will continue to hike rates for the foreseeable future. In this light, the good news is bad because the FOMC still pressures the economy. The bad news is that economic pressure is cutting into S&P 500 earnings, which will bring the index and market down.
The caveat for traders is the S&P 500 failed to cross above resistance. The index moved up to but did not cross the 4,150 level and then closed off of the day's high. This is evidence of resistance at a key level and a potential peak for the market. However, a move above 4,150 would not get the market in the clear because another key level of resistance is just above the 4,300 level. Featured: Elon’s big $266,000 per second purchase (Ad) 
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Consumer Discretionary | |
Peloton Interactive, Inc. (NASDAQ: PTON) is up 18% after a double beat in its second quarter fiscal 2023 earnings report. But although the calendar says 2023, you can forgive investors who feel like it’s 2021. Specifically, investors are beginning to get a taste for risk. And that’s im... 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.
It's a single-page, seven-point filter designed to help traders identify weak setups before placing any options trade. Print it, keep it at your desk, and run it before every trade. The download link expires soon. | | Download your free copy of the Smart Trade Options Checklist now |
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Markets | |
Shares of Bed Bath & Beyond (NASDAQ: BBBY) are circling the drain and may fall through very soon. Attempts to stave off bankruptcy, including a search for potential buyers, are coming up short. The latest word on the street is that a Chapter 11 bankruptcy filing could come as soon as this week... Read the Full Story |
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Technology | |
Allegro Microsystems (NASDAQ: ALGM) share prices are advancing at a brisk pace on the news the company’s business is better than expected. The company, a semiconductor/integrated circuit manufacturer, provides sensor IC and app-specific analog ICs to the auto OEM and industrial market.
Dema... 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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Consumer Staples | |
On a day when it’s important for companies to beat on earnings, Altria Group, Inc. (NYSE: MO) delivered. The company reported better-than-expected earnings per share (EPS) of $1.18, which was two cents higher than consensus estimates of $1.16.
But the real reason that MO stock is up over ... Read the Full Story |
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Consumer Staples | |
Those who’ve watched the Scotts Miracle-Gro (NYSE: SMG) saga unfold over the last few years have seen it bottom, gear up for growth, expand into the cannabis equipment market, get boosted by the pandemic, and then see it all come crashing down. The bursting COVID bubble was compounded by iss... 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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Medical | |
At the start of 2023, vaccine developer Novavax, Inc. (NASDAQ: NVAX) saw a much-needed jump from near-historic lows. While they still have a long way to go before they can get back to the soaring levels of the Pandemic when they set a historical high of $320 in February of 2021, the jump is a welc... Read the Full Story |
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Aerospace | |
Investors might be having their eye on Boeing (NYSE: BA) as its last 747 aircraft was rolled out of Boeing's factory in Everett, Washington, on February 1st, 2023, ending its more than 50-year production run. The end of 747 production doesn't mean the planes will disappear entirely from the skies ... Read the Full Story |
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Finance | |
When the economy is in a bear market, it can feel like losses are never-ending.
Understanding a bear market's stages can provide a new perspective and help you stick to your long-term trading plan.
Read on to learn more about the four major stages of a bear market, what they mean and how to re... Read the Full Story |
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Transportation | |
A look at the charts suggests that Old Dominion Freight Line (NASDAQ: ODFL) is driving to new highs. The price action spiked more than 6.5% in the wake of the company’s Q4 results and has it trading at the highest levels in 13 months and showing strongly bullish signs.
The question that nee... Read the Full Story |
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Basic Materials | |
BHP stock and dividend are interesting for their history and high yield. What to know about BHP stock and dividend is that this is one of the world's largest mining operations. It is fundamental to the global supply chain and pays a safe dividend.
The dividend is managed by a distribution plan t... Read the Full Story |
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Thursday's Early Bird Stock Of The Day CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas from shale properties in Pennsylvania, West Virginia, and Ohio, as well as rights to extract natural gas from other shale and shallow oil and gas formations in Illinois, Indiana, New York, and Virginia. It also owns rights to extract CBM in Virginia, West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania. | | View Today's Stock Pick |
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