Good MorningEquity markets advanced on Tuesday, snapping more than a week of declines. The move confirms support at the critical 4300 level and should lead the market higher. The caveat is that summer trading conditions, looming interest rate hikes, and a weak report from Walgreens suggests the rally is built on unstable foundations. Walgreens had a mixed quarter and lowered guidance due to shifting consumer trends. If that sentiment turns into a trend among S&P 500 companies, the index will have nowhere to go but lower.
The week's news will come on Friday when the PCE price index is released. The index is expected to show consumer inflation is moderating but not quickly. At 4.6%, investors should expect the FOMC to continue hiking rates until there is an appreciable decline in inflation. The risk is that getting that decline could mean taking the economy into a full recession. Featured: Beginners Guide to Gold IRAs (No cost) (Ad) 
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Consumer Discretionary | |
Shares of Lucid Group Inc. (NASDAQ: LCID) charged higher on June 27, 2023. Two news items were the catalysts for the bullish sentiment. First, in a Form 4 filing, Saudi Arabia’s Public Investment Fund (PIF) reported the acquisition of 259.69 shares of LCID stock. The transaction, valued at $... Read the Full Story |
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From Our Partners | | The petrodollar arrangement that anchored the US dollar for 50 years quietly expired in June 2024. Since then, China has cut its Treasury holdings by 45% from their peak, and BRICS nations offloaded $47 billion of American debt in a single month.
The Trump administration has responded with a $12 billion critical minerals stockpile called Project Vault, equity stakes in miners like MP Materials and Lithium Americas, and a push to secure resources from Greenland to Ukraine.
Porter Stansberry lays out the full story in a new documentary, including five companies positioned at the chokepoints of what he calls Trump's New Dollar. | | Watch the full documentary before December's economic summit in Miami |
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Technology | |
DevOps platform provider JFrog Ltd. (NASDAQ: FROG) stock has seen a resurgence as it nears the upper weekly rectangle trendline resistance. The stock has been in the trading range for over a year. The "Liquid Software" company provides essential and mission-critical tools to enterprise technology ... Read the Full Story |
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Communication Services | |
Meta Platforms Inc. (NASDAQ: META) is one of those stocks in either feast or famine mode, with no in-between.
Lately, investors have feasted, with Meta stock posting impressive returns in the following rolling time frames:
One month: 6.27%
Three months: 35.17%
Year-to-date: 131.40%
Afte... Read the Full Story |
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From Our Partners | | Regular investors rarely make money on IPO day. The real winners are insiders, founders and big banks who invested long before the company ever went public.
Michael Robinson, Director of Tech Strategies at Weiss Ratings, says there's a way to see what could be the biggest AI IPO in history before it hits the market.
This kind of early access is normally reserved for elite insiders. Robinson's research points to one opportunity worth a closer look now. | | Click here to learn how to access this AI IPO before it goes public |
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Industrials | |
Delta Airlines (NYSE: DAL) share price struggled to gain traction until just a few weeks ago, but it is gaining momentum now. The fear of economic headwinds offset the underlying strength in travel demand and left the market near the bottom of the post-COVID trading range. Today's takeaway is that... Read the Full Story |
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Markets | |
Since the back end of last year, video game stocks, as tracked by the VanEck Video Gaming and eSports ETF (NASDAQ: ESPO), have been undergoing something of a resurgence. Having hit an all-time high in February 2021 as the pandemic inspired more and more housebound people to pick up or buy a contro... Read the Full Story |
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From Our Partners | | A couple of years ago, we started playing with the massive amounts of data that MarketBeat takes in everyday trying to figure out if there was a way to identify short term trading wins. By analyzing earnings data, news sentiment, analyst recommendations, insider transactions and dozens of other data points, we think we’ve found an algorithm that finds interesting short-term stock ideas. We call that algorithm the IdeaEngine and its stock ideas are published on MarketBeat All Access every Monday morning. We make one IdeaEngine idea available free every Monday as an SMS alert. We’ll be releasing the next IdeaEngine alert on Monday morning, so make sure you are signed up before then. | | Get MarketBeat IdeaEngine Alerts (Free) |
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Markets | |
Shares of real estate company Redfin (NASDAQ: RDFN) have staged an impressive turnaround this year, with shares up 160% YTD and 183% over the last six months. The recent run shows no signs of slowing down, with shares consolidating near short-term resistance, poised for a breakout higher. With a s... Read the Full Story |
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Industrials | |
Korn Ferry (NYSE: KFY) reported its fourth quarter and full-year 2023 earnings on June 27. KFY stock is down over 4% in early trading on weak guidance for the coming quarter. But that's likely to be short-term noise. For investors wanting to take a longer-term view, the report looks at the evolvin... Read the Full Story |
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Markets | |
Lordstown Motors (NASDAQ: RIDE) was one of the most promising EV start-ups but has fallen from grace. A long and contentious relationship with Foxconn is ending and not in any way investors would have imagined. Begun in the early days of the EV boom, Foxconn was slow in signing agreements and even... Read the Full Story |
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Consumer Discretionary | |
Mullen Automotive (NASDAQ: MULN) announced the completion of obligations under its series D investor agreement. The agreement, amended numerous times, has been a source of contention among investors at all levels of the company’s structure, so this is good news. Ultimately, it and the recent... Read the Full Story |
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Markets | |
Walgreen's Boots Alliance Inc. (NASDAQ: WBA) has trended lower since 2015 and could go lower. The Q3 results are mixed, but the guidance for Q4 and 2024 is weak. The caveat is that Walgreen's Boots Alliance stock may be at or near its bottom. The stock, accounting for the negative 7.5% post-releas... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Cricut, Inc. engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations. Its connected machines include Cricut Joy family for personalization, organization, and customization; Cricut Explore family for cutting, writing, and scoring; Cricut Maker family for cutting, writing, scoring, and adding decorative effects to various materials, such as paper, vinyl, iron-on vinyl, pens, and others; and Cricut Venture for cutting, writing, and scoring large-format projects at professional speeds. The company also provides Cricut Access and Cricut Access Premium subscription offerings, and in-app purchases; and a software that integrates its connected machines and design apps comprising Cricut Joy App, Design Space, and other design apps. In addition, it offers a range of accessories and materials, such as Cricut EasyPress, Cricut Mug Press, hand tools, machine replacement tools and blades, and project materials. The company offers its products through its third-party brick-and-mortar and online retail partners; and its website cricut.com, as well as through a network of distributors. It operates in the United States, Canada, the United Kingdom, Ireland, Australia, New Zealand, and Western Europe, as well as the Middle East, Latin America, South Africa, and Asia. The company was formerly known as Provo Craft & Novelty, Inc. and changed its name to Cricut, Inc. in March 2018. The company was incorporated in 1969 and is headquartered in South Jordan, Utah. | | View Today's Stock Pick |
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