Good MorningEquity markets retreated on Wednesday after remarks from Fed Chief Jerome Powell failed to soothe the market. Mr. Powell says the committee may only hike rates one more time this year but also that inflation is yet to be tamed, and the committee is ready to hike rates again if needed. In addition, Mr. Powell seemed supportive of the financial system but failed to give explicit details of how the system could be backstopped.
The S&P 500 fell more than 1.6% at the end of the day, confirming the latest stock downtrend. The move confirms resistance at the 4,000 level and the 3rd lower consecutive peak since the bear market rally began. This could signify lower lows, but support may be present at 3,800. The only thing certain now is uncertainty, which will not be good for the market. In this light, 3,800 may only be a stopping point on the move to retest last year's lows. Featured: Did you miss this 4x text? (Ad) 
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Consumer Staples | |
Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) is in the sweet spot. Manufacturers and retailers eager to shed unwanted inventory are helping to drive favorable conditions for Ollie’s and its chain of stores. The company has ample choice of inventory and the traffic to keep its invento... Read the Full Story |
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From Our Partners | | Saudi Arabia has terminated its 1974 petrodollar agreement with the United States - the deal that forced every country on Earth to hold U.S. dollars to buy oil. Since then, Saudi Arabia has signed a $7 billion currency swap with China, begun settling oil in digital yuan, and joined China's cross-border payment system, mBridge.
With 10-year Treasury yields pushing toward the 4.4% danger line and global dollar demand in retreat, gold is being repriced. There's one asset that still trades at a steep discount to gold's current price - a rare opportunity to leverage the metal's continued rise. | | Learn how to position ahead of the dollar's continued decline |
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Technology | |
A look at the stock symbol of Samsara, Inc. (NYSE: IOT) defines what the company does, internet-of-things (IOT). The IoT comprises a network of connected devices that can be accessed remotely and communicate with each other, providing and transforming real-time and robust data. Samsara provides Io... Read the Full Story |
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Retail/Wholesale | |
Shoe Carnival (NASDAQ: SCVL) is a multifaceted story that begins with a company with intrinsic value to consumers and a push toward digital. It ends with Salesforce.com (NASDAQ: CRM), the leading Customer Relationship Management firm. The combination has unlocked increased profitability, and t... Read the Full Story |
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From Our Partners | | Marc Chaikin, founder of Chaikin Analytics, is sharing a strategy he calls 'Sell This, Buy That' - a way to move out of overpriced AI stocks before the tech trade breaks down and into lesser-known names with real potential to challenge the Mag 7.
One pick he calls 'an upgrade to Tesla stock' is a little-known company that just inked a partnership with Nvidia, positioning it ahead of Tesla in the autonomous vehicle race. | | Get the name, ticker, and full Hotlist before markets open |
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Markets | |
Bitcoin (CRYPTO: BTC) seems to move with a mind of its own. At the time of writing it has just breached the $28,000 resistance level, a new high for 2023. Coincidentally, this rally times perfectly with the collapse of certain conduits of the fiat banking system, and gleefully defies the broad sel... Read the Full Story |
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Consumer Discretionary | |
GameStop (NYSE: GME) is an interesting and exciting market to watch, but it is not a market for most investors to dabble with. The only thing that can be said is that volatility will reign supreme because the bulls and the bears have strong feelings about where its price should be. The analyst's s... Read the Full Story |
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From Our Partners | | Ever been right about a stock's direction and still lost money on the trade? It's almost never bad luck - it's a checkpoint you skipped.
The Smart Trade Options Checklist puts the 7 most important pre-trade checks on one page. Normally $29.97, it's free today. Run it in about 30 seconds before any options trade to catch the bad ones before they cost you. | | Download the free 7-point options checklist right here |
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Consumer Discretionary | |
Nike, Inc’s (NASDAQ: NKE) FQ3/CQ1 surprise isn’t all that surprising, given results from others in the industry. Retailers like Dick’s Sporting Goods (NASDAQ: DKS), Hibbett Inc. (NASDAQ: HIBB), and Academy Sporting Goods and Outdoors (NASDAQ: ASO) all reported solid results with ... Read the Full Story |
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Markets | |
Watch the Direxion Daily S&P 500 Biotech Bull 3X Shares (NYSEARCA: LABU) if you want a speculative play in the biotechnology industry with amplified volatility. This ETF attempts to mimic 3X the one-day performance of the SPDR S&P 500 Biotech ETF (NYSE: XBI). Remember the keyword "attempts... Read the Full Story |
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Technology | |
Legendary fund manager Peter Lynch became famous for an investment strategy called Growth at a Reasonable Price (GARP). While Lynch retired as manager of the Fidelity Magellan Fund in 1990 at only 46 (a testament to his success), the GARP strategy is still valid and can be applied today to stocks... Read the Full Story |
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Consumer Staples | |
Backed by the U.S. government, the closely watched 10-year Treasury note offers a high degree of safety that stocks and other investments can’t match. What they no longer offer, however, is a 4% annualized interest rate.
Since the Silicon Valley Bank collapse, Treasury rates have been in a ... Read the Full Story |
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Technology | |
The semiconductor industry has become a breeding ground for political battles and market share domination across the globe. The United States and China have entered into a cold war-like scenario over who gets to make the most advanced chips and who gets to make the most in volume.
Companies like ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Surrozen, Inc., a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system. Its products in pipeline include SZN-043, a hepatocyte-specific R-spondin mimetic bispecific fusion protein, which is in Phase 1b clinical trial for the treatment of severe liver diseases, including alcohol-associated hepatitis. The company develops SZN-413, a Fzd4 targeted bi-specific antibody for the treatment of retinal vascular associated diseases. Surrozen, Inc. has collaboration and license agreement with Boehringer Ingelheim International GmbH to research, develop, and commercialize Fzd4 bi-specific antibodies. Surrozen, Inc. is based in South San Francisco, California. | | View Today's Stock Pick |
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