Good MorningEquity markets received a rude awakening on Tuesday when Fed chief Jerome Powell's prepared remarks to the congress were released to the public. In the remarks, Mr. Powell reveals inflation is not tamed, the FOMC is on track to continue raising rates, another 50 basis point interest rate hike may be necessary, and peak interest rates may be higher than the market expected. The news caused the S&P 500 to retreat more than 1.5% at the day's low, confirming resistance to higher prices at the 30-day moving average.
The risk for the market is definitely tilted toward the downside following this news. Higher rates for longer will have a more profound and longer-lasting impact on the economy, which will be seen first in the earnings outlook. The outlook for S&P 5-- earnings was already declining; an acceleration in the downtrend will add additional pressure to the index and stocks in general. Featured: The Calm Before the Rotation — What’s Quietly Building Now (Stock Wire News) (Ad) 
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Healthcare | |
Drug discovery software developer Schrodinger Inc. (NASDAQ: SDGR) stock has been trying to recover after plummeting over 80% off its all-time high of $117 in January 2021. Schrodinger’s artificial intelligence (AI) powered software technology platform utilizes physics-based modeling and soph... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Markets | |
The Department of Justice is suing to stop the proposed merger between JetBlue Airways (NASDAQ: JBLU) and Spirit Airlines (NYSE: SAVE) on antitrust grounds. A judge who is known for rapidly pushing cases to trial is already assigned to the case.
The DOJ argues that the merger is bad for consumers... Read the Full Story |
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Markets | |
Brazil’s third-largest airline Azul S.A. (NYSE: AZUL) is back from the dead thanks to surging travel demand and an improved capital structure. The carrier delivers passengers and cargo. This under-the-radar airline has seen double-digit improvement in its operating metrics YoY and even more ... Read the Full Story |
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From Our Partners | | More than 25 candidates were screened for share price between $1 and $5, market cap above $100 million, daily volume over 500,000 shares, and over $10 million in trailing revenue.
Only five stocks cleared every filter, spanning five different sectors. Two are profitable today, and one pays a substantial dividend.
The report also flags what could go wrong with each pick, including dilution and convertible debt. | | See the five stocks that survived this strict revenue screen |
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Markets | |
Traders and investors hoping for good news did not get it from Fed chief Jerome Powell. Mr. Powell, in his prepared remarks to congress, let it be known that inflation is not where the FOMC wants it. The latest data may warrant an increase in the pace of rate hikes and that peak interest rates cou... Read the Full Story |
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Consumer Discretionary | |
A 12% drop on Tuesday was the last thing investors of electric vehicle (EV) maker Rivian Automotive Inc (NASDAQ: RIVN) were expecting. Despite having already sank more than 50% since last quarter, they would have been hoping the stock was set to start recovering rather than falling to fresh lows. ... Read the Full Story |
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From Our Partners | | Tobacco, telecom, pipelines, and healthcare real estate trade at 10 to 15 times earnings while the index yields about 1 percent.
A free report highlights seven cash-generating stocks with a 5 percent forward yield floor and roughly 6.5 percent average cash yield, capped at two picks per sector.
Each pick includes coverage numbers and an honest bear case. Five of the seven have raised payouts for 17 to 56 straight years. | | Get the seven high-yield dividend stocks free now |
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Consumer Discretionary | |
Ulta Beauty's (NASDAQ: ULTA) insider trading activity can be telling for the lack of activity as much for sales or purchases. Insiders were selling in 2021 and 2022, but those sales trickled to nothing and halted in Q3 of 2022. Since then, shares of the stock have seen a meteoric rise in share pri... Read the Full Story |
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Markets | |
Analysts have recently rated Ambrx Biopharma, Inc (NYSE: AMAM) a Moderate Buy, even though its $8.50 price target represents a 33% downside. While its current $12.54 share price–and $390.06 million in market capitalization–are certainly attractive enough to investors at all levels, the... Read the Full Story |
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Consumer Discretionary | |
Anyone surprised by Thor Industries (NYSE: THO) FQ2 miss isn’t paying attention to the narrative. Not only has this cliff been approaching, but the data and guidance from OEMs and retailers alike point to at least a 50% contraction in new RV business this year. The RVIA indicated shipments f... Read the Full Story |
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Consumer Discretionary | |
Dick’s Sporting Goods (NYSE: DKS) has not been an easy stock for investors to hold over the past 2 years, but that is changing. The COVID bubble, the bubble bursting, and the expectation that retailers like Dick’s Sporting Goods would suffer are primarily to blame. Patient investors we... Read the Full Story |
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Consumer Discretionary | |
Durable outdoor products manufacturer Yeti Holdings, Inc. (NYSE: YETI) stock has struggled to hold gains as voluntary product recalls caused charges and sales disruption. The maker of trendy soft coolers, travel gear, and apparel experienced a substantial boost in sales during the pandemic as cons... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day First Financial Bankshares, Inc., through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts. It also provides commercial and industrial, municipal, agricultural, construction and development, farm, residential, and consumer auto and non-auto, as well as non-owner occupied and owner occupied commercial real estate loans. In addition, the company offers advisory and specialized services related to asset management, investing, purchasing, advertising, public relations, and technology services. First Financial Bankshares, Inc. was founded in 1890 and is headquartered in Abilene, Texas. | | View Today's Stock Pick |
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