Good MorningEquity markets ended a turbulent week on solid footing, rising more than 2.0% on Friday. The move was supported by a robust NFP report that shows job and wage gains with unemployment lingering at low levels. The news suggests core economic strength that will help the Fed achieve its soft-landing but other data disagrees. The number of layoffs is rising while job availability declines and consumer products manufacturers brace for a downturn in spending.
Next week will be about inflation with reports on CPI, PPI and import prices. The CPI data is expected to come in flat compared to the previous month, which is hot and contrary to the idea of the Fed pausing. The risk for the market is that inflation will persist at these levels into the summer and force another interest rate hike. In that scenario, more banks will fail, and consumer spending will slow further. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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What’s the best way to handle a stock that’s posted gains in five of the past seven months, boasts a year-to-date return of more than 88%, is the S&P 500’s second-biggest gainer so far in 2023, and that Wall Street expects to grow earnings by 47% next year?
The stock meeting... Read the Full Story |
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Tech | | | Apple was at the head of a widespread rally on Wall Street Friday after the market's most influential company reported a better profit than expected. Stocks of beaten-down banks also leapt to recover a smidgen of their sharp losses from a brutal week.The S&P 500 jumped 1.8%, though it still turn... Read the Full Story |
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Markets | | | Asian shares are trading mixed as investors take a wait-and-see view on the week ahead that’s full of reports on some of the market’s biggest worries, including stubbornly high inflation across the economy Read the Full Story |
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Shopify (NYSE: SHOP) had the opportunity to deliver growth and efficiency in Q1, and it did that and more. The results and outlook have the stock up more than 20% and are on the cusp of a complete reversal. Given the outlook for growth and profitability, analysts will likely up their targets, whic... Read the Full Story |
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Markets | | | Billionaire Warren Buffett said artificial intelligence may change the world but new technology won't take away opportunities for investors and he's confident America will continue to prosper despite its bitter political divisions.Buffett and his partner Charlie Munger spent all day Saturday answeri... Read the Full Story |
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Advanced Micro Devices (NASDAQ: AMD) share prices imploded following the Q1 release, but it is not the bearish move it might otherwise be. The move is driven by the guidance, which is tepid and potentially cautious given the environment, but that is the near-term picture. The long-term picture is ... Read the Full Story |
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DoorDash Inc. (NYSE: DASH) showed up at Wall Street’s door with better-than-expected revenue in its first-quarter report, sending shares modestly higher.
The stock was up as much as 3.94% in the opening minutes of the session on May 5, but it settled down to a much more mild gain of 0... Read the Full Story |
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Booking.com (NASDAQ: BKNG) is moving lower after reporting solid results and spurring analysts to raise their targets. The reason could be that EBITDA came short of expectations, but so what if it did? EBITDA fell short of expectations, but it is up 89% YOY, and it topped $585 million with a net i... Read the Full Story |
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Markets | | | For President Joe Biden, the past few days have raised hopes that the U.S. economy can stick a soft landing—possibly avoiding a recession as the 2024 election nears.Most U.S. adults have downbeat feelings about Biden's economic leadership, as high inflation has overshadowed a strong jobs market. It'... Read the Full Story |
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Markets | | | A European judicial team questioned Lebanon’s caretaker finance minister on Friday in an investigation related to corruption probes of the country’s Central Bank governor, officials said.The questioning is part of a probe by a delegation from France, Germany, and Luxembourg, now on its third visit t... Read the Full Story |
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Monday's Early Bird Stock Of The Day PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands. The company's portfolio also includes PENN Play, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, PENN Play, theScore, theScore Bet, theScore esports, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania. | | View Today's Stock Pick |
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