Good MorningEquity markets rebounded on Thursday on hopes that inflation was subsisting but these hopes are likely misplaced. Today's PCE price index will tell the tale, and it is expected to confirm the acceleration of monthly inflation and that inflation is still running well above the Fed's 2.0% target. The S&P 500 action is also telling; Thursday's market closed with a gain but the candle formed is dark and consistent with consolidation within a bear market. Price action is still below the 30-day EMA, a sign that short-term traders are bearish on the market.
Next week could be another down week for the market. There is not much on the economic calendar, but a raft of earnings reports is due out from the retail sector. So far, the results are better than expected but point to slowing and contraction in 2023. More news of this variety will harm what are already declining estimates for the 2nd half of the year and add additional downward pressure to the S&P 500. Featured: Sell these "safe" blue chips immediately (Ad) 
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Markets | |
Bitcoin is screaming higher, up roughly 45% on the year, making its first convincing rally since last summer and holding above the critical psychological $20,000 level. The wildly bullish, one-sided price action comes at an interesting time. The crypto industry is in "crypto winter" right now, lik... 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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Consumer Discretionary | |
If you are wondering if the rally in the TJX Companies (NYSE: TJX) is over the answer is probably not. The bigger question is what will happen between now and the following new high, and that is a consolidation. The company’s Q4 results and outlook for 2023 support the current price action a... Read the Full Story |
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Consumer Discretionary | |
Alibaba Group (NYSE: BABA) rose in pre-market trading in New York; its shares increased by more than 6%. The online retailer considerably surpassed the average expectation of 35 billion yuan by reporting net profits of 46.8 billion yuan ($6.8 billion). Just above expectations, revenue increased 2.... 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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Consumer Discretionary | |
If Garmin (NYSE: GRMN) has anything to its credit, and it has quite a lot, it has diversification. This technology powerhouse makes and markets a wide range of gadgets and components used by governments, businesses and individuals in use cases that span all verticals. If one segment sees weakness,... Read the Full Story |
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Technology | |
Shares of NVIDIA (NASDAQ: NVDA) are rocketing higher after some surprisingly good news. The company reported better-than-expected Q4 results led by AI and gaming. The recovery in gaming is a real surprise because all signs from within the industry are that slowing is the theme of 2023.
This means... 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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Industrials | |
Joby Aviation (NASDAQ: JOBY) reached a major milestone in early February that has the stock ready to take off. The company completed the 2nd of 5 steps toward FAA certification for commercial operations. This marks the 1st company to reach this milestone and has it set up to meet its goal of comme... Read the Full Story |
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Technology | |
Intel Corp (NASDAQ: INTC) shares declined by 2.26% in Wednesday's session, near its daily second standard deviation decline, on the back of management announcing a dire fractioning of its seemingly steadily growing dividend.
Why is Intel pressing for a turnaround so highly focused on bringing fab... Read the Full Story |
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Technology | |
Though Apple Inc’s (NASDAQ: AAPL) stock undoubtedly benefited from the company’s recent results, they’ve traded largely sideways. Having at one point been up a full 25% from the first week of the year, it’s perhaps not all that surprising that they might take a breather. An... Read the Full Story |
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Energy | |
While the top-performing oil-and-gas giants such as Marathon Petroleum Corp. (NYSE: MPC), Exxon Mobil Corp. (NYSE: XOM), Shell plc (NYSE: SHEL), and oil services large cap Schlumberger Limited (NYSE: SLB) get the lion’s share of attention, energy mid-caps NOV Inc. (NYSE: NOV), Weatherford In... Read the Full Story |
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Consumer Discretionary | |
Digital lodging platform Airbnb Inc. (NASDAQ: ABNB) stock exploded upside on its Q4 2022 earnings release. The Company posted strong top and bottom line results as shares spiked over 13% in reaction. The post-pandemic recovery in the travel and leisure sector continued through the holiday season... Read the Full Story |
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Friday's Early Bird Stock Of The Day Precigen, Inc. operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar. The company offers therapeutic platforms consisting of UltraCAR-T to provide chimeric antigen receptor T cell therapies for cancer patients; AdenoVerse immunotherapy, which utilizes a library of proprietary adenovectors for gene delivery of therapeutic effectors, immunomodulators, and vaccine antigen; and ActoBiotics for specific disease modification. It also develops programs based on the UltraCAR-T platform, including PRGN-3005 in Phase 1b clinical trial to treat advanced ovarian, fallopian tube, or primary peritoneal cancer; PRGN-3006 in Phase 1b trial for patients with relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndromes; and PRGN-3007 in Phase 1/1b trial for the treatment of advanced receptor tyrosine kinase-like orphan receptor 1-positive, hematologic, and solid tumors. In addition, the company is developing programs based on the AdenoVerse immunotherapy platform comprising PRGN-2009 in Phase 2 trial for patients with HPV-associated cancer; and PRGN-2012 in Phase ½ trial to treat recurrent respiratory papillomatosis, as well as AG019, which is based on the ActoBiotics platform and in Phase 1b/2a trial, to treat type 1 diabetes mellitus. Further, it provides UltraPorator, a proprietary electroporation device; and develops research models and services for healthcare research applications. The company was formerly known as Intrexon Corporation and changed its name to Precigen, Inc. in February 2020. Precigen, Inc. was founded in 1998 and is headquartered in Germantown, Maryland. | | View Today's Stock Pick |
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