Good MorningEquity markets pulled back for a second day on Tuesday as markets eye Wednesday's CPI report. The report is expected to show consumer prices are still rising at an above-target pace, and there is little hope for cooling. The core PPI reading is expected to accelerate on a month-to-month basis and may lead to a hot YOY reading. Even if the reading cools, with inflation still rising, the Fed can not be expected to ease back on the interest rate throttle.
The S&P 500 is at a critical juncture; the next few days could decide the market's direction over the next 3 months. If the index can get its feet under it and move above 4,150, it could extend the rally to 4,300 or higher. Aside from inflation and the FOMC, the risk is that the outlook for 2nd half earnings growth resumed its slide. The consensus figures are now at the lowest level on record and are weighing heavily on stock market prices.
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Consumer Discretionary | |
Steve Madden (NASDAQ: SHOO) reported its first quarter 2023 earnings results on Tuesday, signaling what could be the final stages of a choppy retail industry environment. Shares of Steve Madden are shaking off a market-wide decline, dipping initially by as much as 3.66% and rallying back, looking ... 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 | |
Lucid Group (NASDAQ: LCID) bottomed earlier this year on news the Saudi Sovereign Wealth Fund was buying a stake. The stock has retreated from the highs set following the announcement, but new lows may not be coming. The charts show support at higher levels than in January, and the company could s... Read the Full Story |
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Industrials | |
Shoals Technologies Group Inc. (NASDAQ: SHLS) is an electrical balance of system (EBOS) solutions provider for the solar, energy storage, and electric vehicle (EV) infrastructure industry. EBOS are all the components of photovoltaic power systems minus solar panels. This can include cables, invert... 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 | |
Under Armour (NYSE: UA) shares are declining by 8.6% in Tuesday's trading session; the negative sentiment comes amid the company's first quarter 2023 earnings results. Despite new CEO Stephanie Linnartz achieving expense reductions across the SG&A (Selling, General, and Administrative) items, ... Read the Full Story |
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Technology | |
Skyworks Solutions Inc. (NASDAQ: SWKS) does not have a consumer-facing business. Still, it makes many of the gadgets and gizmos used by today’s top consumer-products companies, and the news in the Q2 report does not inspire confidence. News from Packaging Corporation of America and United Pa... 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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Technology | |
Palantir (NYSE: PLTR) shares rocketed higher for various reasons that add up to 1 thing: positive GAAP cash flow and the expectations for positive cash flow to continue through the end of the year. This news is unsurprising, given the company’s position as a cloud-based cyber-security data-m... Read the Full Story |
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Utilities | |
Duke Energy (NYSE: DUK) reported its first quarter 2023 earnings on Tuesday, with the stock price showing little to no movement in the pre-market session. Duke has been a historical 'haven' during market volatility cycles, often caused by the same dynamics investors experience today due to rising ... Read the Full Story |
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Technology | |
Arista Networks, Inc. (NYSE:ANET) is the latest technology company to get punished for a slowdown in cloud computing demand. Shares of the Santa Clara-based cloud networking leader fell more than 17% in the two days that followed its May 1st report. Although results exceeded market expectations, s... Read the Full Story |
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Markets | |
Alteryx Inc. (NYSE: AYX) is a big data analytics automation platform enabling companies to collect, process, prepare and analyze data in different formats from different sources. Its flexible and intuitive platform enables companies to adopt and utilize big data analytics to implement data-driven ... Read the Full Story |
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Technology | |
Investors sitting on the sidelines, waiting for the next shoe to drop, have missed out on the year-to-date gains of a small number of S&P 500 stocks largely responsible for this year’s 8.31% gain in the large-cap index. Those stocks, and their returns, are:
Apple Inc. (NASDAQ: AAPL)... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day SSR Mining Inc., together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina. The company was formerly known as Silver Standard Resources Inc. and changed its name to SSR Mining Inc. in August 2017. SSR Mining Inc. was incorporated in 1946 and is based in Denver, Colorado. | | View Today's Stock Pick |
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