Good MorningEquity markets traded within a tight range on Tuesday while investors wait for the June FOMC policy announcement. The announcement is scheduled for next Wednesday and will determine the next big move for equities. Given the acceleration of inflation in recent data, the FOMC will likely be hawkish in its stance, but it may not hike rates again. The risk is the CPI data due out the day before the release. The CPI may confirm the acceleration of inflation and lead the FOMC to surprise the market. Either way, the economy is in a new "normal" that will dominate the S&P 500 price action for years.
The key level to watch on the S&P 500 is 4,300. That is the top of a critical resistance zone that capped gains for over 12 months. If the market can rise above this level, it will probably retest the all-time high. Moving up to a new all-time high is another matter and may not happen, given the odds of a recession have risen above 70% and are still rising.
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You’d expect to see significant price gains from a stock with forecasts of 715% earnings growth, and that’s exactly what’s happening with Shopify Inc. (NYSE: SHOP).
Shares of the cloud-based e-commerce platform rallied 6.24% on June 6, closing at $63.66 in trading volume, 86% hi... Read the Full Story |
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When investors typically refer to small capitalization stocks, those businesses that fall between $300 million and 2 billion dollars in market capitalization would enter this category, usually not known for consistent cash flows and profit margins. So it would come as a significant surprise when m... Read the Full Story |
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Markets | | | China’s exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs an economic rebound following the end of anti-virus controls is slowing as global demand weakens under pressure from higher interest rates.Exports slid to $283.5 billion, reversing from April’s unexpecte... Read the Full Story |
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The Tesla Inc (NASDAQ: TSLA) recovery story is one that we at MarketBeat have been writing about for some time now. In January, we pointed out that Tesla shares were starting to consolidate after a poor Q4; in February, we announced that the Tesla recovery rally was picking up steam... Read the Full Story |
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Markets | | | The global economy must steer through a precarious recovery this year and next as inflation keeps dragging on household spending and higher interest rates weigh on growth, banks and markets. That was the takeaway Wednesday from the latest economic outlook by the Paris-based Organization for Economic... Read the Full Story |
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Markets | | | Global prices for wheat and corn soared Tuesday after a major dam in Ukraine collapsed, renewing market fears about the fragility of the country's ability to ship food to Africa, the Middle East and parts of Asia as it fights a war with Russia.Wheat prices gained 2.4% in early trading Tuesday on the... Read the Full Story |
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Markets | | | Coinbase has been targeted by U.S. regulators in a new lawsuit Tuesday that alleges the cryptocurrency platform is operating as an unregistered securities platform and brokerage service. The lawsuit from the Securities and Exchange Commission comes only a day after it filed charges against Binance, ... Read the Full Story |
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Markets | | | The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia's invasion of Ukraine and the lingering effects of the coronavirus pandemic.That's the latest outlook of the World Bank, a 189-country anti-poverty agency, which estimates that the int... Read the Full Story |
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Uranium stocks are moving again, with market leader Cameco (NYSE: CCJ) hitting a 52-week high. It sits within spitting distance of its most crucial resistance level of $32, which has plagued the stock since the uranium bull market started in 2020.
As many Western nations aim to reduce reliance on... Read the Full Story |
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After a sharp downturn in share prices, the bottom is in for Academy Sports + Outdoors (NASDAQ: ASO). The chart suggests some were surprised by the weakness, but a more significant portion of the market expected much worse. The takeaway is that price action shows a floor at $47.50, and the market ... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities. Golar LNG Limited was founded in 1946 and is headquartered in Hamilton, Bermuda. | | View Today's Stock Pick |
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