Good MorningEquity markets traded in a tight range on Monday, starting the week on an uncertain note. The action was dominated by concern this week's CPI report would confirm the need to keep interest rates higher for longer, if not on the rise. That concern was shaded by the latest Fed Senior Loan Officer Opinion Survey, which shows credit conditions are tightening for businesses and consumers nationwide. The news is evidence that loan officers are growing nervous about the economy's future.
The S&P 500 is at a critical juncture, trading at the 4,150 level. This level marks the bottom of a trading range that has dominated the market for the last 12 months; the next move will be a telling one. If the market can rise above 4,150, lifted by a brightening earnings outlook, it could continue to rise into the summer months. If not, this market will remain range bound with a chance of moving down to retest support at lower levels. Featured: SAGA Metals nears a key milestone in critical minerals race (Ad) 
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Consumer Discretionary | |
Six Flags Entertainment Corporation (NYSE: SIX) reported its first-quarter 2023 earnings results. Shares are rising by as much as 21.3% in a massive rally, representing the most significant opportunity for shareholders since the post-pandemic rally. While Six Flags reported a deepening net loss fo... Read the Full Story |
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From Our Partners | | Barrick Mining has spent decades building one of Nevada's richest gold districts, anchored by Fourmile, Goldrush, and Cortez Hills, deposits that could hold up to 60 million ounces of gold.
One overlooked explorer controls 142 claims bordering Fourmile and sitting less than a mile from Goldrush. New geological modeling aims to reveal what's beneath this largely untested ground, while a planned 5% royalty spin-off could give shareholders a separate stake in the project. | | Read the full report before the next catalyst hits |
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Technology | |
Snowflake’s (NASDAQ: SNOW) price has melted over the past 18 months, but the bottom for this market is in. A new upgrade from Stifel Nicolaus coincides with bottoming in the price action, which points to an upswing this year. Stifel upgraded the stock to Buy from Hold, marking the first sign... Read the Full Story |
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Consumer Discretionary | |
The electric vehicle (EV) movement has become a secular tailwind driven by both global decarbonization initiatives, social awareness and government incentives. EV stocks have seen a boom and bust cycle in the past three years with EV stocks losing most of their value. EVs make up 7.2% of total U.S... Read the Full Story |
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From Our Partners | | Trader Chris Pulver says a new SEC document dropping the day-trading limit to $2,000 has created the biggest retail opportunity he has seen in over 30 years.
His strategy targets what he calls Flashpoints - moments when market makers must move billions of dollars on the S-P 500 in a narrow window. Research shows one recent signal would have returned 83.7% in 36 minutes and another 62.8% in 51 minutes.
Lance Ippolito flew to Utah for a full breakdown of the method. | | Tap here to see the complete Flashpoint trading breakdown now |
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Finance | |
The financial crisis may not be over, but the risk is not spread equally among America’s banks. The smaller regional banks focused on America’s heartland are in far better shape than the risk-taking growth names that recently saw their businesses collapse. One way to root out the good ... Read the Full Story |
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Consumer Discretionary | |
Personalized online student learning platform provider Chegg Inc. (NYSE: CHGG) shares were crushed as it warned that growing ChatGPT stocks and other AI tools usage was hurting its business. Artificial intelligence (AI) has garnered the mainstream spotlight in 2023 with the rumblings between Micro... Read the Full Story |
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From Our Partners | | Lance Ippolito spent nearly two decades trading the markets, appearing on MoneyShow, Cheddar TV, CNN Money, and MarketBeat.
His free guide, Options Trading Explained, covers two tickers pros call their secret weapon, Wall Street's daily hidden edge, and a strategy that targets payouts around 4 PM ET.
It also explains how to avoid overnight risk when trading options. | | Download your free options trading guide now |
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Communication Services | | Social commerce platform Pinterest Inc. (NASDAQ: PINS) stock collapsed (25%) after its Q1 2023 earnings report. Shares have fallen (8.2%) for the year. While the company is still growing, there are growing concerns over its pace of growth and rising costs and opex, which can have more negative impac... Read the Full Story |
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Consumer Staples | |
Energizer Holdings (NYSE: ENR) shares are rising by 6.75% on Monday's trading session amid reporting formidable margin improvements and other positive developments. Energizer analyst ratings suggest the stock only has an 8% upside from today's prices. Considering how much the shares rallied in a s... Read the Full Story |
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Consumer Staples | |
Freshpet’s (NASDAQ: FRPT) Q1 results are mixed and left the market wanting more, but the takeaway is bullish. Although profitability took a hit, the company’s refocus on profitable growth is paying off. The details impacting profitability the most are non-cash 1-offs, many of which are... Read the Full Story |
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Consumer Staples | |
Current holders of Tyson Foods (NYSE: TSN) may be trimming their positions, but those looking to build a position in a healthy consumer staples stock with a sector-beating yield might want to put it on their watchlists. Headwinds within the meat industry cut into the Q2 results and led to reduced ... Read the Full Story |
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Consumer Discretionary | |
Jack In The Box (NASDAQ: JACK) is benefiting from the dual tailwinds of strength within the fast-food industry and the strength of its newest CEO. Mr. Harris’s work in the few years since taking the helm is reminiscent of another highly successful CEO, Mr. Niccol of Chipotle Mexican Grill (N... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day O'Reilly Automotive, Inc., together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories. It also offers auto body paint and related materials, automotive tools, and professional service provider service equipment. In addition, the company provide enhanced services and programs comprising used oil, oil filter, and battery recycling; battery, wiper, and bulb replacement; battery diagnostic testing; electrical and module testing; check engine light code extraction; loaner tool program; drum and rotor resurfacing; custom hydraulic hoses; and professional paint shop mixing and related materials. Further, it offers do-it-yourself and professional service for domestic and imported automobiles, vans, and trucks. The company was founded in 1957 and is headquartered in Springfield, Missouri. | | View Today's Stock Pick |
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