Good MorningEquity markets pulled back for another day on Wednesday as fear of the FOMC comes back into play. Comments from Fed Chief Jerome Powell that multiple interest rate hikes were coming caught the market off guard. The comments are identical to the FOMC's policy stance at the last meeting, but the market wasn't buying it for some reason. In the eyes of average investors, the FOMC is close to ending the hiking cycle, which is what matters. The risk in that outlook is that rates are high, inflation is still high, and the economy is on a trajectory that could result in disaster.
Thursday could see the market sell-off accelerate. The catalyst could be the index of leading indicators, which is expected to fall again. This will be the 14th consecutive decline in the index and could be a large one. The trend in the data is more telling and has been making successively larger negative peaks suggesting growing weakness in the economy.
Featured: Run this before every trade (free today) (Ad) 
|
Retail/Wholesale | |
Few industries were as hard hit as retail during last year’s market selloff. Rising prices and interest rates caused shoppers to curtail spending. From supermarkets to clothing stores, retailers rang up mostly disappointing financial results. The S&P Retail Select Index dropped 33%.
G... Read the Full Story |
|
From Our Partners | | Marc Chaikin, founder of Chaikin Analytics, is flagging a little-known company that just secured a partnership with Nvidia - one he believes positions it ahead of Tesla in the autonomous vehicle race.
With a market-moving announcement expected on July 31st, Chaikin is urging investors to swap overpriced AI stocks for this under-the-radar name before markets open. He's also releasing a free Hotlist and Hitlist of buy and sell ideas for the second half of 2026. | | Get the ticker symbol and full details at no charge today |
|
Consumer Staples | |
PepsiCo Inc. (NYSE: PEP) stock spiked to a new all-time high at $196.88 on its Q1 2023 earnings release before topping out and selling off on profit taking to $179.33. Shares are starting to rebound again, suggesting another leg up may be forming. Pepsi products are commonly found in grocery store... Read the Full Story |
|
Retail/Wholesale | |
Whenever a stock can rev up to outperform the broader market, even in a single session, that can be a signal of institutional support that can lead to bigger gains.
On June 21, O’Reilly Automotive Inc. (NASDAQ: ORLY) advanced 2.23% in volume which was 15% heavier than average. O’Reil... Read the Full Story |
|
From Our Partners | | President Trump holds up to $5 million in shares of an AI company that just landed a nearly $10 billion Pentagon contract - and it's not Nvidia or SpaceX.
Trump has strongly endorsed the company's leadership and products. One legendary fund manager believes it could become a cornerstone of a retirement portfolio. | | Click here to get the name and ticker of this AI stock |
|
Markets | |
Enterprise workflow collaboration and automation software maker Smartsheet Inc. (NASDAQ: SMAR) shares plummeted over (20%) due to its fiscal first quarter 2024 earnings report. While results were strong, the mixed forward guidance spooked investors as they frantically rushed out of the proverbial ... Read the Full Story |
|
Medical | |
Agilent Technologies Inc. (NYSE: A) stock is underperforming the market, trading down 19% year-to-date. Agilent is a leading global provider of laboratory technologies and equipment.
It counts some of the most well-known biotechnology, healthcare, diagnostic and applied materials companies in the... Read the Full Story |
|
From Our Partners | | When the railroads launched in the 1860s, Andrew Carnegie didn't profit by riding the trains - he got rich owning the steel rails they ran on. The same dynamic may be playing out today around the anticipated $1.75 trillion SpaceX IPO.
Analyst Michael Robinson has identified a tiny, under-the-radar supplier - just 1/60th the size of SpaceX - that he believes sits at the center of Elon Musk's broader AI infrastructure buildout. | | Watch Robinson's presentation and see the details before the IPO window closes |
|
Energy | |
It’s sometimes said that markets can turn on a dime. That seemed to have happened with the energy sector, which was the huge 2022 winner, but the Energy Select Sector SPDR Fund (NYSEARCA: XLE) is down 7.56% so far in 2023, lagging behind all other sectors.
Within the broader energy sector,... Read the Full Story |
|
Consumer Discretionary | |
La-Z-Boy (NYSE: LZB) and other furniture stocks have declined over the past year as bubble-infused expectations were returned to reality. The takeaway from La-Z-Boy’s Q4 results and guidance is that normalization is at hand, and growth in the core retail segment is back in the picture. More ... Read the Full Story |
|
Medical | |
You generally associate Super Bowl commercials with products made by PepsiCo Inc. (NYSE: PEP) or the Coca-Cola Co. (NYSE: KO), but earlier this year, glucose-monitoring geat maker DexCom Inc. (NASDAQ: DXCM) forked over some bucks to advertise its G7 sensors.
Pop singer Nick Jonas, a paid DexCom s... Read the Full Story |
|
Medical | |
Like other mature drug manufacturers, Eli Lilly and Company (NYSE: LLY) is banking on innovative biotechnology platforms to drive its next growth phase.
On Tuesday, the nearly 150-year pharmaceutical giant announced an agreement to acquire San Francisco-based immunology specialist DICE Therapeut... Read the Full Story |
|
Auto/Tires/Trucks | |
Two thousand miles northeast of Tesla’s Austin headquarters, Blue Bird Corp. (NASDAQ: BLBD) is making some noise. With Twitter aflutter about Cybertrucks and Superchargers, the Massachusetts-based company has the auto industry chirping about, yes, school buses.
A resounding return to profi... Read the Full Story |
|
Thursday's Early Bird Stock Of The Day Red Robin Gourmet Burgers, Inc., together with its subsidiaries, develops, operates, and franchises casual-dining restaurants, in North America and one Canadian province. Its restaurants primarily offer burgers and pizza, appetizers, salads, soups, other entrees, desserts, wings, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers. The company was founded in 1969 and is based in Englewood, Colorado. | | View Today's Stock Pick |
|
