Good MorningEquity markets continue to hover within a tight range below critical resistance. Traders and investors are trying to come to terms with what the new normal will look like, and there is an increasing chance that interest rates will remain high for an indefinite period. Fed president Bostic commented to markets that interest might not come down even with an inflation-killing recession.
The week's action will heat today with earnings reports from big box retailer Home Depot kicking off the retail portion of the earnings cycle. The market expects a mixed report, but the market-moving news will be guidance - the company's parking lots are not as full as last year, which may be a telling indicator. Regardless, the longer it takes for the S&P 500 to move above 4,150, the less chance there is of it doing so. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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Stocks | | | Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame to events they said were largely out of their control Read the Full Story |
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Tech | | | Investor Warren Buffett recommitted to his favorite bank stock, Bank of America, during the first quarter while dumping two other banks as part of a number of moves in Berkshire Hathaway's stock portfolio.Berkshire provided a quarterly update on its U.S. holdings Monday in a filing with the Securiti... Read the Full Story |
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As Cloudflare, Inc. (NYSE: NET) found out, when you operate in a high-growth market like cloud services, a slowdown can be viewed as a thunderstorm.
From 2017 through 2022, the cloud infrastructure provider grew revenue at a 48% annualized rate. So when it posted 37% top-line growth for the... Read the Full Story |
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Sarepta Therapeutics Inc. (NASDAQ: SRPT) jumped nearly 31% on May 15, after a Food and Drug Administration committee gave a thumbs up to the company’s experimental gene therapy to treat Duchenne muscular dystrophy.
Trading on Serepta stock was halted on May 12 before the panel met to ... Read the Full Story |
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Shares of Magellan Midstream Partners (NYSE: MMP) rose by as much as 16% during the opening of Monday's trading session, while the stock's price action retreated to close the day up by 12.99%; the move is due to undeniably good news for shareholders. ONEOK (NYSE: OKE) has struck a deal to acquire ... Read the Full Story |
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One lesson of investing is if you get washed out of a position, it’s time to rethink the position, not abandon it entirely, and that is the case with Workhorse Group Inc. (NASDAQ: WKHS). The initial thesis didn’t pan out; the company recalled its first fleet of electric vehicles and th... Read the Full Story |
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Cloud services and content delivery network (CDN) operator Akamai Technologies Inc. (NASDAQ: AKAM) had substantial profits driven by record security services in Q1 2023. Its legacy content delivery network (CDN) comprises more than 300,000 servers in over 135 countries enabling oceans of data, vid... Read the Full Story |
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Markets | | | The European Union's executive body raised its economic growth forecast, saying Europe had dodged a winter recession that was feared amid an energy crisis but warning that stubbornly high inflation is likely to keep hurting the economy by sapping people's ability to spend. The outlook for the 20 cou... Read the Full Story |
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Markets | | | Asian shares were mostly higher on Tuesday even though the latest data showed China’s economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic. Benchmarks advanced in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney.China’s indust... Read the Full Story |
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Markets | | | Sri Lanka’s crisis-hit economy is expected to resume growing in 2024 after contracting 3% this year, an International Monetary Fund official said Monday.Krishna Srinivasan, the IMF's director for Asia and Pacific, said expected economic growth of 1.5% next year hinges critically on the economic refo... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant. The Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels, commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives; and transports crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California. | | View Today's Stock Pick |
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