Good MorningEquity markets pulled back last week as traders prepare for this week's PCE price index. The price index is expected to show another hot increase in consumer-level inflation and keep the Fed on track to hike rates again. The question is if the FOMC will hike by only 25 basis points or if it will hike another 50 or more, as members have indicated. As it is, the market is only pricing in a single interest rate hike, and it may be surprised by the data this week.
The S&P 500 pulled back and snapped a winning streak, but it is still above the key 4,300 level, so the near-term uptrend is intact. The index may pull back to 4,300 before moving higher, but the stage is set for the updraft to continue. Even with hot inflation, the rise of AI and stimulus-related government spending underpin strength in the tech and industrial sectors and will help the market move higher. The question is how high the market will go before the reality of the Fed's new "normal" is realized.
Featured: The Calm Before the Rotation — What’s Quietly Building Now (Stock Wire News) (Ad) 
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Consumer Discretionary | |
Shares of the diversified auto dealership CarMax (NYSE: KMX) are flying higher by as much as 10% right during the opening hours of Friday's trading session; the quick advance comes amid the company announcing its first quarter 2024 earnings results, blowing past analyst expectations by a massive 8... Read the Full Story |
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From Our Partners | | Major banks have slashed their gold price targets - Morgan Stanley to $4450, JPMorgan to $4500 - after predicting $6000 gold earlier this year.
Ross Givens, a former Wall Street insider, says bank targets tend to follow price rather than lead it. He still expects gold to reach $10000 an ounce this cycle.
Givens points to a backdoor asset that gained 846%, 1668%, and 1915% in the last gold cycle. | | See the trade Ross Givens recommends for this gold cycle now |
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Consumer Discretionary | |
Carnival Corporation (NYSE: CCL) reported its second quarter 2023 earnings results at the market opening on Monday morning. Despite posting what seems to be optimistic financials and further expansion in the business drivers, the stock price action is reacting negatively, as it is reacting with an... Read the Full Story |
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Materials | |
Commercial Metals (NYSE: CMC) stock price corrected over the past year due to falling prices and concerns over demand. The company’s Q3 results belie that sentiment and have the market moving higher. The results prove the company’s resiliency in the face of tough times and solid underl... Read the Full Story |
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From Our Partners | | MindWalk Holdings (NASDAQ: HYFT) is applying AI to drug discovery, and its customer base already includes 19 of the top 20 global pharmaceutical companies.
The company's HYFT technology maps roughly 660 million biological patterns and 25 billion relationships. Q1 fiscal 2027 revenue hit $3.8 million, with gross margin improving to 59 percent in its fifth consecutive quarter of year-over-year growth.
A new OpenFold3 deployment delivered about 5x faster antibody-antigen inference, and a $30 million revolving credit line, free of warrants or equity conversion, adds fuel for expansion. | | Take a closer look at HYFT before AI reshapes drug discovery. |
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Consumer Discretionary | |
Shares of Smith & Wesson Brands (NASDAQ: SWBI) are advancing by as much as 6.6% in the after-market hours of Thursday evening; the sudden pop in the stock comes amid the company reporting its quarterly earnings results. Despite posting some slowdowns, investors are still looking to Smith &... Read the Full Story |
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Consumer Discretionary | |
After reaching an impressive all-time high closing price of $345.46, at the height of the pandemic in 2021, shares of Wayfair (NYSE: W) have fallen over 83% to their current prices. The company had close to a $38 billion market cap at its peak. As of yesterday's closing price, the market cap of W ... Read the Full Story |
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From Our Partners | | When Moonshot AI's new model rattled overnight markets, stocks gapped down 1 percent before the open, and history shows the story doesn't end there.
Between 9 30 and 9 50 AM, Wall Street settles nearly 25 percent of the day's total volume in a single 20 minute window, often revealing market direction for the rest of the morning.
A former money manager breaks down the floor data behind this pattern, including a June 25th session where inflation surged past 4 percent and the market moved just 0.3 percent afterward. | | Watch the full video breakdown before access is taken down |
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Healthcare | |
As often happens in highly regulated industries, the economic fate of entrepreneurs and shareholders is in the hands of politicians.
In this case, the cannabis industry is the one in question.
Although 23 states and the District of Columbia have legalized the recreational sale of marijuana, ban... Read the Full Story |
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Utilities | |
Houston-based utility NRG Energy Inc. (NYSE: NRG) gapped up 3.94% on June 22, making the stock the fastest mover in the S&P 500 for the session.
The story behind the uptick is a lesson in behind-the-scenes shareholder activism with the potential to unlock value for owners.
The move was spur... Read the Full Story |
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Consumer Discretionary | |
Quick, name the large-cap e-commerce company with triple-digit earnings growth in recent quarters, revenue growth of 35% or more, and analyst estimates for an 85% increase this year in earnings per share.
If you guessed Argentina-based MercadoLibre (NASDAQ: MELI), well, there’s no prize, bu... Read the Full Story |
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Communication Services | |
Rising geo-political tensions and a stunted post-COVID economic recovery have been two persistent headwinds that have led to Chinese stocks massively underperforming their US peers over the past eighteen months. While the tech-heavy NASDAQ index has already managed to gain about 40% this year, Chi... Read the Full Story |
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Utilities | |
Shares of 3M (NYSE: MMM) have broken out of the typical pattern being showcased by virtually every stock in the S&P 500 index composition, where 2021 was shown to be a year of new highs for these stocks, followed by a steady decline to today's consolidation to mark the first half of 2023.
3M'... Read the Full Story |
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Monday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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