Good MorningEquity markets advanced on Thursday in hopes the US would reach a debt-ceiling agreement soon. The move led the S&P 500 up nearly a full percentage point to reach the highest level in more than 6 months. The new high may attract new buyers and result in another high, but the market is not out of the woods. The S&P 500 is trading within a tight range that has capped stocks for over a year. A move up to 4,300 is expected, but more than that is just a guess.
Retail earnings are mixed so far. Some are beating expectations, a few are guiding the year higher, but all indicate weakness in the 2nd quarter. The risk for the market is that weakness will linger into the 3rd quarter and results in downward revisions when 2nd quarter results are released. The takeaway is that the S&P 500 is still in a rolling bear market and could hit the next top anytime.
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Technology | |
Shares of Cisco Systems (NASDAQ: CSCO) fell 3% following its Q3 report sending shares into the buy zone. The drop was driven by fears centered on a slowing order book that points to sluggish growth in fiscal 2024. The salient point is that growth is on the table for fiscal 2024, and value-seeking ... Read the Full Story |
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From Our Partners | | In 2022, Karim Rahemtulla recommended Rolls-Royce when it traded under $2. The stock climbed more than 1,100% over 3-4 years, with some subscribers reporting gains of $141,000, $272,000, and even over $1 million.
Now Karim sees a similar setup in what he calls the Energy Cube - a misunderstood technology backed by Bill Gates, Jeff Bezos, Google, and Microsoft. A major government milestone is expected this August that could force Wall Street to finally pay attention.
Watch Karim's full presentation and learn why this overlooked opportunity may not stay overlooked for long. | | Watch the full Energy Cube presentation before August's catalyst hits |
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Consumer Discretionary | |
Take-Two Interactive (NASDAQ: TTWO) had a mixed quarter and gave weak guidance, but the stock is up strongly despite the news. The report was mixed but came with a growth outlook that told the market this company is at a turning point. While it has pushed back the launch date of several new titles... Read the Full Story |
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Medical | |
Zoetis (NYSE: ZTS) shareholders may have a new reference point to be excited about, even after witnessing some favorable developments through the company's first quarter 2023 announcements. Even after outperforming other peers in the sector, such as Bausch Health Companies (NYSE: BHC) and Elanco A... Read the Full Story |
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From Our Partners | | Small caps often show early movement before the broader market takes notice. Alpha Wire Daily tracks those subtle shifts as they form.
These are the setups that tend to develop quietly, well ahead of wider attention. Today's report is ready. | | View Today's Free Report |
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Retail/Wholesale | |
Walmart (NYSE: WMT) had a better-than-expected quarter and raised its full-year guidance, but the news isn’t as great as it may seem. The gains were driven by isolated segments that confirm consumers are shifting away from discretionary items in favor of staples like food. That’s not a... Read the Full Story |
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Construction | |
Shares of Eagle Materials (NYSE: EXP) are rallying in the pre-market hours of Thursday morning as the company releases its quarterly earnings results, which delivered an exceptional quarter posting some record figures. The stock immediately rose by a s much as 3.3% as the news broke out, showcasin... Read the Full Story |
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From Our Partners | | Jim Rickards believes the Trump administration is about to take a direct stake in a $2 stock sitting on the largest mineral reserve in the country - enough gold for a new Fort Knox, enough copper to rebuild the U.S. electric grid 25 times over.
The Trump administration has previously staked positions in MP Materials, Lithium America, Trilogy Metals, and USA Rare Earth - each time shares moved higher. A landmark policy decision expected before November 3 could reprice this stock from $2 to $20 or more within a year. | | Click here to see why Rickards believes this stock is next |
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Medical | |
Big pharmaceutical stocks, including Novartis AG (NYSE: NVS), Eli Lilly & Co. (NYSE: LLY), Merck & Co. (NYSE: MRK), and Novo Nordisk A/S (NYSE: NVO) have been outperforming the broader market recently, even as the healthcare sector as a whole lags.
Pharmaceutical stocks aren’t immu... Read the Full Story |
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Industrials | |
Berry Global Group (NYSE: BERY) is one of those businesses that do not seem to let off the gas pedal, significantly when all other sectors lag in performance. As a result, Berry has been outperforming peers in the space, such as Ball Corporation (NYSE: BALL) and Crown Holdings (NYSE: CCK), by more... Read the Full Story |
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Business Services | |
Shares of Copart (NASDAQ: CPRT) reached an all-time high price of $82.81 in the after-market hours of Wednesday evening, amid monstrous momentum buildup throughout 2022, seemingly continuing into 2023, as showcased within the company's second quarter 2023 earnings press release. The overwhelming r... Read the Full Story |
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Medical | |
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX), maker of Cystic fibrosis drugs, rallied to a record high on May 2 after a better-than-expected first-quarter earnings report.
Net income of $3.05 a share exceeded Wall Street views of $2.51 a share, as Vertex Pharmaceuticals earnings data show. Revenue... Read the Full Story |
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Technology | |
ServiceNow (NASDAQ: NOW) surprised the market when it announced a massive share repurchase authorization. The authorization was announced at the shareholder event and is worth $1.5 billion. That’s worth more than 1.5% of the market cap and is intended to offset the impact of future dilution ... Read the Full Story |
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Friday's Early Bird Stock Of The Day MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients with serious diseases. The company develops various therapies for ocular diseases, including inherited retinal diseases and large degenerative ocular diseases, neurodegenerative diseases, and xerostomia. Its programs in clinical development include Phase I/II clinical stage programs in achromatopsia, X-linked retinitis pigmentosa, and RPE65-deficiency; Phase I clinical trials for radiation-induced xerostomia; and Parkinson's program that has completed a Phase II trial. It has a research collaboration agreement with Janssen Pharmaceuticals, Inc. for the research, development, and commercialization of gene therapies for the treatment of inherited retinal disease. The company was incorporated in 2015 and is based in New York, New York. | | View Today's Stock Pick |
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