Good MorningEquity markets began the final week of June on shaky footing. The S&P 500 hovered within a tight range but closed lower for the session. The move is due in part to caution; the PCE price index is due out later this week and should be a market-moving event. The question is which way the market will move, and the bias now is upward. The index is expected to show core inflation moderating to 4.6% YOY, which is good news, but the FOMC will remain hawkish at this level.
The next few weeks will be trying times for the market. The PCE price index is only 1 worry; after that, there is fear the FOMC will hike rates to the point that it will crack the economy more. Fed members, including Jerome Powell, have indicated that 2 or more hikes are still possible; increases will likely cause more bank failures and consolidation within the financial industry. The only good news is that AI is lifting the tech sector and may continue to do so through the end of the summer. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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Stocks | | | Another drop for stocks on Friday helped drag Wall Street to its first losing week in the last six.The S&P 500 fell 33.56, or 0.8%, to 4,348.33, pulling back further from last week when it reached its highest level in more than a year. The Dow Jones Industrial Average dropped 219.28, or 0.6%, to... Read the Full Story |
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Stocks | | | Asian stock markets were mixed Tuesday after Wall Street drifted lower following its latest rally.Shanghai and Hong Kong advanced. Tokyo and Seoul declined. Oil prices rose.Wall Street's benchmark S&P 500 index lost 0.4% on Monday as tech stocks declined following a rapid run-up while most other... Read the Full Story |
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Sherwin-Williams (NYSE: SHW) shares prices have been under pressure for over a year, but those times are ending. The pressure is due to economic headwinds, high inflation, and sluggish housing markets, but now the outlook is brightening. The outlook isn’t rosy, but analysts see housing marke... Read the Full Story |
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From Our PartnersJeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%...
Just did a demo of what Nvidia’s CEO said will be "the first multitrillion-dollar robotics industry." | | | Click here to watch the demo… |
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Video game publisher Activision Blizzard Inc. (NASDAQ: ATVI) is enjoying unprecedented success with its Diablo IV video game release on June 6, 2023. It has been the fastest-selling videogame in Blizzard’s history, raking in $666 million in the first five days. However, this isn't an overnig... Read the Full Story |
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Vuzix Corporation (NASDAQ: VUZI) makes augmented reality (AR) glasses and solutions for the manufacturing, healthcare, aerospace, military and industrial industries. Most consumers might equate AR glasses to gaming or entertainment, but work applications are continuing to grow as the need for mobi... Read the Full Story |
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MongoDB (NASDAQ: MDB) emerged as an AI play when it released FQ1 earnings in early June. The company beat on the top and bottom lines and issued clear guidance saying it was well-positioned to benefit from the AI boom. Not only is it critical to the AI infrastructure, it is a cloud-based database ... Read the Full Story |
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Markets | | | Commercial electric vehicle startup Lordstown Motors Corp. has filed for Chapter 11 bankruptcy protection nearly two months after it warned that it was in danger of failing. In early May electronics company Foxconn wavered on a $170 million investment in Lordstown. The Ohio company said in a regulat... Read the Full Story |
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Markets | | | The sleek, polished dark blue 1978 Cadillac Seville eased slowly out of a showroom near Iran's capital, its driver carefully inserting the 8-track tape that came with it to blast the sounds of a time long since past. The Sevilles, once assembled in Iran, represented the height of luxury in the count... Read the Full Story |
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Markets | | | European Central Bank President Christine Lagarde warned Tuesday that inflation is holding its grip on the economy and underlined that the bank intends to raise rates high enough to “break this persistence." Lagarde acknowledged that inflation has fallen from all-time highs last year as energy price... Read the Full Story |
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Markets | | | To stimulate sagging electric vehicle (EV) sales, China unveiled a package of tax breaks valued at $72.3 billion (520 billion yuan) over the next four years. This initially caused a spike in shares of Chinese EV maker NIO Inc. (NYSE: NIO) as well as peers Xpeng Inc. (NASDAQ: XPEV) and Li Auto Inc. (... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Cardinal Health, Inc. operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. The company operates in two segments, Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, and over-the-counter healthcare and consumer products. The segment also provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products; operates nuclear pharmacies and radiopharmaceutical manufacturing facilities; repackages generic pharmaceuticals and over-the-counter healthcare products; and provides pharmacy management services to hospitals. The Medical segment manufactures, sources, and distributes Cardinal Health branded medical, surgical, and laboratory products and devices that include exam and surgical gloves; needles, syringe, and sharps disposals; compressions; incontinences; nutritional delivery products; wound care products; single-use surgical drapes, gowns, and apparels; fluid suction and collection systems; urology products; operating room supply products; and electrode product lines. The segment also distributes a range of national brand products, including medical, surgical, and laboratory products; provides supply chain services and solutions to hospitals, ambulatory surgery centers, clinical laboratories, and other healthcare providers; and assembles and sells sterile, and non-sterile procedure kits. The company was incorporated in 1979 and is headquartered in Dublin, Ohio. | | View Today's Stock Pick |
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