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.
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Consumer Staples | |
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 |
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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 |
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Consumer Discretionary | |
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 |
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From Our Partners | | The last time America reset its money, it minted 1,300 new millionaires a day. Porter Stansberry believes Executive Order 14241 could trigger something even bigger.
In a new documentary, Stansberry names five assets to watch before America's new dollar rolls out and explains why the U.S. government is buying stakes in small mining companies, a move not seen since World War II.
He also points to a December gathering of world leaders at a Trump resort in Miami that could reveal the new dollar to the world. | | Watch the free documentary on Trump's new dollar now |
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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 |
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Healthcare | |
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 |
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From Our Partners | | The federal government is throwing its full support behind a new class of AI technology, in what's being called the biggest push since the Apollo moon landing.
This AI reportedly works 10,000 times faster than human PhDs and could eventually be worth 500 times more than ChatGPT. Elon Musk has called the underlying tech the most disruptive force in history. | | Discover the stock positioned to benefit as this AI initiative accelerates |
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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 |
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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 |
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Healthcare | |
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 |
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Healthcare | |
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 |
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Industrials | |
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 |
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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 |
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