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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Basic Materials | |
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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From Our Partners | | Trump's National Energy Dominance Council operates with no press conferences and little public coverage - yet stocks connected to its grants have surged 111%, 194%, and 211% in days.
The council's next focus is a five-trillion-dollar rebuild of the American power grid. One company is positioned at the center of that project, and most investors still don't know this group exists. | | Discover the company this energy council is positioning right now |
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Consumer Discretionary | |
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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Technology | |
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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From Our Partners | | Nancy Pelosi's portfolio gained 71 percent in 2024 while the S&P 500 returned just 28 percent. In 2023, she earned 65 percent while the broader market gained 24 percent. Researchers say congressional leaders outperform rank-and-file lawmakers by up to 47 percent annually.
Now a new opportunity may dwarf any single stock trade. The U.S. still carries 8,133 tonnes of gold on its books at a price frozen since 1973 - and a single executive order could change that. A free guide called The Great Gold Reset explains how everyday investors can position themselves now. | | Claim your free Great Gold Reset report and see how to position yourself |
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Auto/Tires/Trucks | |
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, and in April,... Read the Full Story |
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Energy | |
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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From Our Partners | | CFA and CMT analyst Garrett Goggin called G2 Goldfields before it rose 1,023%, Reunion Gold before 538%, Highlander Silver before 741%, and Orogen Royalty before 416%. He also publicly predicted Newmont's 126% gain in 2025.
Now Goggin says the 1974 petrodollar agreement between Washington and Riyadh has quietly expired, central banks are buying gold at the fastest pace since 1950, and a major monetary shift is underway. He has identified four specific positions - plus two bonus opportunities for readers. | | Read the full briefing and see all four positions plus two bonuses |
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Technology | |
Unsurprisingly, GitLab (NASDAQ: GTLB) posted a solid quarter and guided the market higher. The company has been gaining traction, and results from MongoDB (NASDAQ: MDB) foreshadowed the news. MongoDB said that it was well-positioned to benefit from the rise of AI because of its developer tools, in... Read the Full Story |
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Transportation | |
The Cyprus-based tanker firm Frontline (NYSE: FRO), on May 31, posted stellar earnings of $0.90 per share and declared a $0.70 dividend. Given the company's stock price of $13.70, this makes for a mouth-watering annualized yield of over 20%.
But the question arises, can this be sustained?
Front... Read the Full Story |
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Retail/Wholesale | |
Shares of Cracker Barrel Old Country Store (NASDAQ: CBRL) are sliding by as much as 9.5% in the pre-market hours of Tuesday morning; the initially adverse reactions demonstrated in the stock price stem from the company's first quarter 2023 earnings results. Investors can find a few key metrics sho... Read the Full Story |
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Retail/Wholesale | |
The way the institutions are flocking to values like Kohl’s (NYSE: KSS), Verizon (NYSE: VZ), and Walgreens Boots Alliance (NYSE: WBA), investors might begin to think the sell-side is preparing for interest rates to fall, share prices to rise, or both. These stocks are all beaten-down names t... Read the Full Story |
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Consumer Staples | |
If all you think of is jams and jellies when you hear the name J.M. Smucker Co.(NYSE: SJM) think again. This iconic brand is the parent to many product labels that dominate in 3 major center-aisle categories. The company has been cementing its position in pet food to diversify its portfolio, and d... 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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