Good MorningEquity markets tread water this week while traders waited for the May PCE price index to be released. The data is expected to be hot, but it may not matter. The market action suggested the rally would continue with or without a cooler read on inflation, opening up additional risk. The Fed suggests that more than 1 and even more than 2 more rate hikes are needed and that there could be 2 back to back hikes this summer.
As always, the earnings outlook will drive the S&P 500 this year. As it is, the market continues to expect a return to growth in the back half. So long as that remains in the picture, the market should be able to claw its way higher. The question is how high it can go. The Fed is on track to tighten the screws again, possibly leading to more bank failures and the recession hovering on the horizon for the last 12 months. Featured: The Warsh Fed and what it could mean for your savings (Ad) 
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Markets | |
Shares of Rite Aid (NYSE: RAD) have been on a sluggish path to becoming a near-penny stock, despite being one of the most entrenched brands in American Households. This name has become synonymous with children's 'boo boos' and first-aid kits. Indeed there is some hidden value to be had in the inta... Read the Full Story |
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From Our Partners | | More than 100 UBI pilots have launched across US cities like Stockton, Denver, and Austin. Nearly all have ended because the funding ran out.
One income program has kept paying for 39 years straight, funded by 14 partnerships collecting fees on oil and gas infrastructure. It paid $28.8 billion in 2020 and a projected $53 billion this year.
See how this energy-backed income plan has kept paying when government programs could not. | | Learn how this 39-year income plan keeps paying out |
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Industrials | |
Paychex (NASDAQ: PAYX) shares are up more than 140% from the 2020 lows, but it may be time to ring the register. The Q4 results and outlook are good enough but failed to spark a rally in the stock. The post-release action shows significant resistance at the 150-day moving average suggesting the do... Read the Full Story |
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Technology | |
Micron Technologies (NASDAQ: MU) has been suffering through an inventory correction that has yet to run its course, but a reversal in share prices is imminent. The Q3 results, as bad as they were, were better than expected and point to stabilization within the market. The bad times aren’t ov... Read the Full Story |
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From Our Partners | | The four largest gold miners are generating record free cash flow, even with gold pulling back from recent highs. Margins as high as 75 percent make this the most profitable stretch in their history.
Yet junior gold miners, the prime buyout targets for these cash-rich majors, are still priced as if gold were stuck at 1800 dollars an ounce instead of today's levels.
Analyst Garrett Goggin calls this the Golden Anomaly, a gap he says rarely lasts long once a gold bull market gets going. | | See the junior gold miners poised for a major buyout wave |
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Markets | |
If the insider activity in Topgolf Calloway Brands (NYSE: MODG) can be used as a guide, the golf stock can indeed crawl out of its bunker, regain the fairway, and rally to score value for shareholders. The insiders started ramping up their activity late last year and have been buying the stock on ... Read the Full Story |
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Consumer Staples | |
McCormick's (NYSE: MKC) price action wobbled following a better-than-expected Q2 and increased guidance. The news proves that the decision to transition Brenden Foley into the CEO position was good. The transition, begun in June 2022, was completed at the end of the quarter, leaving Mr. Brenden in... Read the Full Story |
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From Our Partners | | Barrick, the world's second-largest gold miner, produced 7.77 million ounces in 2010. This year, output is expected to fall below 3.25 million ounces, despite a 2010 pledge to reach 9 million.
Newmont's 15 billion dollar Newcrest acquisition in 2023, the largest mining deal in history, still left production flat. Every ounce mined shrinks the value of the mine itself.
With record cash flows and shrinking reserves, majors face a stark choice: acquire high-quality junior assets or watch output keep declining. | | Discover the top three buyout targets poised to benefit from this shift |
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Consumer Staples | |
For The Boston Beer Company, Inc. (NYSE: SAM) shareholders, the last two years have been far from a Boston Tea Party. Maybe it relates to the Bruins, Celtics, Patriots and Red Sox teams’ collective failure to bring home a sports championship. More likely, it's because the brewer has missed W... Read the Full Story |
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Consumer Discretionary | |
Ding, ding, ding! A heated stock battle is underway with boutique gym franchisor Xponential Fitness, Inc. (NYSE: XPOF) at the center of the ring.
In the red corner — bearish short selling firm Fuzzy Panda. And in the green corner — bullish Wall Street analysts.
On Tuesday, the firs... Read the Full Story |
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Consumer Staples | |
Analysts at Stephens, Bank of America (NYSE: BAC), and other stock price rating departments have taken on a less optimistic viewpoint regarding Cal-Maine (NASDAQ: CALM). Shares of Cal-Maine are trading slightly lower during the after-market hours of Wednesday evening, showcasing an initial decline... Read the Full Story |
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Industrials | |
Shares of Old Dominion Freight Line inc. (NASDAQ: ODFL) just keep on truckin’ higher. As of June 28, stock of the less-than-truckload (LTL) specialist is up 13.49% for the week,
A catalyst for the move came in the form of two analyst upgrades on June 77. MarketBeat’s Old Dominion F... Read the Full Story |
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Technology | |
Nvidia Corp.’s (NASDAQ: NVDA) meteoric year-to-date increase of 186.60% is largely due to the company’s semiconductors that are behind the boom in artificial intelligence applications.
But concerns about exactly those capabilities sent shares lower in recent days, as the U.S. Commerc... Read the Full Story |
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Friday's Early Bird Stock Of The Day MoonLake Immunotherapeutics, a clinical-stage biopharmaceutical company, engages in developing therapies. It develops Sonelokimab, a novel investigational Nanobody for the treatment of inflammation diseases; and hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, and psoriasis. MoonLake Immunotherapeutics was incorporated in 2020 and is headquartered in Zug, Switzerland. | | View Today's Stock Pick |
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