Good MorningEquity markets treaded water on Wednesday while traders digested Tuesday's gains. The question on everyone's minds is whether the summer rally will continue or not, and it may be answered on Friday. The May read of the PCE price index is due out and is not expected to give the FOMC much reprieve. The risk for investors is that the market won't heed the message given by the FOMC and continue to rally despite hot inflation. In that scenario, the top of the market may be reached when the FOMC hikes rates again later this year.
The earnings news is less than robust. The latest from General Mills echoes news from Walgreens Boots Alliance in that cautious consumer habits are weighing on the outlook. In the case of General Mills, price hikes continue to offset weak volume and produce growth, but that situation can not last forever, and discretionary names are suffering for it. Nike is scheduled to report after the close of trading today and may shed more light on the matter. Featured: Your Bank Account Is No Longer Safe (Ad) 
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Shares of AeroVironment Inc. (NASDAQ: AVAV) rose by as much as 5.9% in the after-market hours of Tuesday evening. The price action stems from the company releasing its fourth quarter 2023 earnings results. After posting record-breaking figures across critical drivers in the business, alo... Read the Full Story |
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General Mills (NYSE: GIS) retreated following the Q4 results and guidance marking an opportune time to buy the stock. The retreat is due to mixed results and guidance that left investors wanting more, but there is a bigger story. While tepid, the guidance calls for growth in a high-quality dividen... Read the Full Story |
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Advanced Micro Devices (NASDAQ: AMD) has been one of the standout performing semiconductor and NASDAQ companies of 2023. YTD shares of the semiconductor company are up about 70%, last trading near $109. This comes after the stock has recently pulled back almost 18% from the year's high, $132.83, s... Read the Full Story |
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Jefferies Financial Group (NYSE: JEF) has missed earnings expectations by a massive 84.6%, making the second quarter of 2023 one of the least profitable quarters for the firm since the 2008 financial crisis.
Jefferies stock has been on a bit of a downtrend since the price peaked in 202... Read the Full Story |
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Markets | | | Asian stock markets are mixed after leaders of major central banks said they need to keep interest rates high to fight persistent inflation despite fears that might tip the global economy into recession Read the Full Story |
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Markets | | | Despite more than a year of widespread warnings that a recession was near, America’s economy is, if anything, accelerating. Even as the Federal Reserve has sent borrowing costs sharply higher, the economy’s resilience has been on plain display: Consumers keep spending, and employers keep hiring. Inf... Read the Full Story |
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Markets | | | Federal Reserve Chair Jerome Powell said Thursday that the central bank may have to tighten its oversight of the American financial system in the wake of the failure of three large U.S. banks this spring.Powell said in prepared remarks delivered at a banking conference in Madrid that tougher regulat... Read the Full Story |
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Markets | | | The nation’s 23 largest banks passed the Federal Reserve’s so-called stress tests this year, a sign that the nation’s banking system remains resilient despite the recent banking crisis that that led to the failure of three banks Read the Full Story |
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Markets | | | President Joe Biden is ready to take full political ownership of the U.S. economy -- a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it Read the Full Story |
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Unifirst (NYSE: UNF) is not an evident value trading at 24X its earnings outlook. The broad market S&P 500 trades at only 17X or 18X of its earnings, which is well below UniFirst and comes with a better dividend. The problem with that comparison is that its closest competitor Cintas (NYSE: CTA... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced. The Asset Management and Other Services segment provides services to the legal industry, including litigation insurance. Burford Capital Limited was incorporated in 2009 and is based in Saint Peter Port, Guernsey. | | View Today's Stock Pick |
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