Good MorningEquity markets held their ground on Wednesday following the surprise sell-off on Tuesday. The caveat is that Fed chief Jerome Powell's comments will have a rippling impact on the economy, so the sell-off is far from over. The odds of another 50 basis point interest rate hike have gone above 75% and may go higher should the upcoming inflation data be strong. The next round of CPI data is due next week and may confirm the acceleration of consumer-level inflation.
The next move for the S&P 500 will be a critical one. Now that the downward bias is increasing, the index's next stop is likely to be lower, and it could be much lower. Many Wall Street strategists have come out since Mr. Powell's comments and lowered their targets for the S&P 500. The number that rings loudest is 3,200, which puts the index at a new low. Featured: The 7 Stocks Quietly Gaining Attention Right Now (Ad) 
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Consumer Discretionary | |
Cricut (NASDAQ: CRCT) is a story linked to the pandemic. Its IPO came a year after the pandemic began, and the first year of growth was driven by social distancing, stay-at-home-activity, and pandemic spending. We're talking about a craft and crafting company, so demand was spectacularly high. Onc... Read the Full Story |
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From Our Partners | | Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies.
Dr. Mark Skousen, who met Musk in person and called the SpaceX listing months early, says he has identified all three targets in what he calls Elon's $2.1 Trillion Hit List.
See the three companies before the rumors become headlines. | | Get the details on all three companies now |
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Healthcare | |
Zymeworks Inc. (NASDAQ: ZYME) stock is up almost 5% after beating analysts’ expectations for revenue and earnings in its March 7, 2023 earnings report. The clinical-stage biopharmaceutical company is working on discovering, developing and commercializing multifunctional biotherapeutics. The... Read the Full Story |
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Industrials | |
Korn Ferry (NYSE: KFY) delivered its earnings report for the third quarter of its 2023 fiscal year on March 8, 2023. The company scored a double beat, and investors responded by pushing KFY stock up nearly 6%. But one item in the company’s earnings report may be predicting more turbulent tim... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
While the One Big Beautiful Bill Act eliminated federal credits for solar, wind, and EVs, this energy source was reclassified alongside oil and nuclear power and given eight years of tax credits. Google signed a 15-year contract, and Bill Gates committed $100 million.
One company controls the entire supply chain behind this discovery. | | See the ticker behind this Grand Canyon energy breakthrough now |
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Communication Services | |
Both TikTok and META platforms (NASDAQ: META) are social networking platforms that let users make and post brief videos with their followers. Despite some of their commonalities, fierce competition to gain the most eyeballs has mutated into a battle that even the U.S. government had to enter.User ... Read the Full Story |
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Markets | |
You are not alone in wondering who and what Vinco Ventures, Inc (NASDAQ: BBIG) is. This company is a small penny-stock brand, and the latest financial report was not awesome, although there is a significant opportunity in this stock. Regarding the results, the company reported an increase in asset... Read the Full Story |
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From Our Partners | | AI is expanding beyond software into robots, factories, vehicles, and intelligent machines. That shift could create a new group of market leaders before most investors notice.
A complimentary report, 5 Stocks Powering the Physical AI Revolution, identifies five companies positioned at the center of this shift, along with the technologies, growth drivers, and risks to understand. | | Get your free copy before physical AI becomes Wall Street's next crowded trade |
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Technology | |
Shares of chip design software maker Synopsys Inc. (NASDAQ: SNPS) have been forming a potentially constructive consolidation since its first-quarter earnings report on February 15.
As a business-to-business vendor, Synopsys isn’t exactly a household name, but it has several attributes that... Read the Full Story |
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Consumer Staples | |
Shares of Casey’s General Stores, Inc. (NASDAQ: CASY) are up sharply after the company beat earnings expectations on Wednesday, March 8. The $2.36 earnings per share (EPS) was sharply higher than the $1.83 EPS analysts forecasted. Revenue, however, came in a little light at $3.33 billion ver... Read the Full Story |
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Technology | |
Crowdstrike’s (NASDAQ: CRWD) Q4 results echo and amplify news from the cybersecurity sector. Names from Zscaler (NASDAQ: ZS) to Palo Alto Networks (NASDAQ: PANW) and everyone in between reported solid Q4 results and gave at least positive guidance. This news more than suggests a bottom is in... Read the Full Story |
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Energy | |
In the case of Occidental Petroleum (NYSE: OXY), Warren Buffett would buy shares when they move into the $60 range. According to the latest filings from Berkshire Hathaway (NYSE: BRK.A), that’s precisely what he did. Shares of Occidental Petroleum fell back to the range where he’d be... Read the Full Story |
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Technology | |
Video game engine developer Unity Software Inc. (NYSE: U) stock collapsed on its Q4 2022 earnings release. The company made its first non-GAAP profit since going public and beat revenue estimates. However, it made the fatal mistake of guiding down its next quarter’s revenues. The Unity game ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Community Health Systems, Inc. owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services. The company also provides outpatient services at primary care practices, urgent care centers, free-standing emergency departments, ambulatory surgery centers, imaging and diagnostic centers, and direct-to-consumer virtual health visits. The company was incorporated in 1996 and is headquartered in Franklin, Tennessee. | | View Today's Stock Pick |
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