Good MorningEquity markets retreat again on Wednesday as market participants gauge the impact of high-interest rates, high inflation, and the growing chance the US will enter another government shutdown. Debt ceiling negotiations are at the forefront of everyone's mind and are helping to drive the markets, but it is not what will bring the S&P 500 down. A growing number of companies are indicating 2nd quarter or 2nd half weakness that is taking a toll on the earnings outlook. If there is anything that moves the S&P 500, it is the outlook for earnings.
The next 2 days will be a test for the market. The S&P 500 continues to show resistance at the 4,150 level, and the PCE price index is due out on Friday. The index is not expected to give the Fed much reason to pause and may keep equities from moving higher. With the summer fast approaching, the odds of a summer rally are fast diminishing.
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VF Corporation (NYSE: VFC) has entered a year of change that could lead the stock higher. The company is working to turn around the core brand, Vans, and improve its supply chain and efficiency, and those efforts have begun to show up in the results. The results are better than expected and come w... Read the Full Story |
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Markets | | | Festus Nyoni picked out a few items in a supermarket in Zimbabwe’s capital, looked at the prices and knew she was in the wrong place.She abandoned her shopping cart and headed for a nearby street jammed with traders offering bargains in U.S. dollars. From the trunk of a car, she picked toiletries, r... Read the Full Story |
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Markets | | | Asian stock markets slid Wednesday as the U.S. government crept closer to a potentially disruptive default on its debt.Tokyo's main market index lost more than 1%. Shanghai, Hong Kong and Seoul also declined. Wall Street's benchmark S&P 500 index fell 1.1% after Speaker Kevin McCarthy of the Hou... Read the Full Story |
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From Our Partners | | I made a mistake.
A mistake I feel very foolish about.
After speaking with Donald Trump and some of his advisors, I believed him.
I believed the promise that he would finally confront the single most dangerous threat to American life. That he would fix the ticking time bomb I’ve been warning about for 15 years.
But I was wrong. | | Let me show you exactly what we’re doing to prepare. |
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Markets | | | An image of black smoke billowing next to a bureaucratic-looking building spread across social media Monday morning, with the claim that it showed an explosion near the Pentagon. The posts sent a brief shiver through the stock market as they were quickly picked up by news outlets outside the U.S., b... Read the Full Story |
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Mid-cap chip-gear maker Axcelis Technologies Inc. (NASDAQ: ACLS) has been on a rocket ride, posting the following returns:
1 week: 9.68%
1 month: 13.66%
3 months: 14.26%
Year-to-date: 79.55%
On May 17, the stock jumped out of consolidation with a buy point above $136.30. It&rs... Read the Full Story |
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Pfizer Inc. (NYSE: PFE) released the results of a peer review study that sent shares up more than 5%. The study evaluated the company’s GLP-1 receptor agonist, danuglipron. The compound aimed to treat obesity and was shown to significantly impact patients at two different dosages over the sa... Read the Full Story |
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Markets | | | Debt ceiling talks showed few signs of outward progress Tuesday as negotiators for President Joe Biden and House Speaker Kevin McCarthy traded more budget-cutting ideas but Republicans warned of a “lack of urgency” at the White House to resolve the standoff in time to avert a potentially chaotic fed... Read the Full Story |
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Analysts expected PetCo Health and Wellness (NASDAQ: WOOF) to deliver first-quarter 2023 earnings per share of $0.025. However, many are waking to a satisfying surprise, as the American pet outlet reports a 140% upside beat for $0.06 earnings per share. Today, as the company releases all the signi... Read the Full Story |
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Tech | | | As it marks its 25th anniversary Wednesday, the European Central Bank is readying a proposed design for a digital version of the euro, responding to pressure from developing technology that could change how money is used over the bank's next decades. ECB President Christine Lagarde says a digital eu... Read the Full Story |
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Toll Brothers (NYSE: TOL) stock rose following the Q2 release and could move higher given the persistent outperformance shown by it and other home builders. However, the signs of an impending sharp slowdown continue, and the chart does not suggest higher prices. If anything, the market has reached... Read the Full Story |
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Thursday's Early Bird Stock Of The Day USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. It operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and West Colton Terminal, an unit train-capable destination terminals that trans load approximately 13,000 barrels per day ethanol and renewable diesel received by rail from producers onto trucks. The Fleet Services segment provides leased railcars and fleet services related to the transportation of liquid hydrocarbons. It operates a fleet of 200 railcars. USD Partners GP LLC serves as the general partner of the company. The company was incorporated in 2014 and is headquartered in Houston, Texas. | | View Today's Stock Pick |
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