Good MorningEquity markets rallied on Thursday after another cooler-than-expected inflation report. The PPI came in below expectations and fueled hopes that inflation would soon be a thing of the past. The caveat for traders and investors is that inflation remains hot at the consumer level, and the FOMC is on track to hike rates by at least 25 basis points. The full impact of the hikes done over the past year is still not fully felt; the impact of another could tip the economy into a recession.
The S&P 500 gained nearly a full percent for the session to set a new high. The index is trading at its highest level in over a year and is set to tackle even higher levels. The next hurdle is 4,660; a new all-time high is likely if the market can move above there. The question is where the index ends the year. The expectation is for a year of flat returns. With the index showing gains for the year and moving higher, the outlook implies a correction is coming. Featured: Wall Street Veteran: "A New Wave of Crashes Will Rock US Stocks" (Chaikin Analytics) 
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Stocks | | | Wall Street’s latest winning week closed with a mixed finish on Friday following stronger profit reports than expected from several big U.S. companies.The S&P 500 slipped 4.62, or 0.1%, to 4,505.42 to edge back from its highest closing level since April 2022. The Dow Jones Industrial Average ros... Read the Full Story |
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From Our PartnersHe called the Priceline collapse in 2012, the 2020 crash, and the 2022 bear market. Now he says a new dawn is coming to U.S. stocks. It’s time to throw out the investment blueprint of the last decade and prepare for a massive shift. If you’ve lost money over the past two years, this changes everything. | | | | This changes everything. |
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Despite its already-high valuation, Cintas (NASDAQ: CTAS) can scale new highs in 2023. Its FQ4 results and guidance confirm the business trajectory's growing and widening margin.
As highly valued as the stock is, the share price may pull back to more substantial support levels bef... Read the Full Story |
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In hindsight, the second half of 2021 was a particularly inauspicious time for a company to go public, but that’s the fate that EngageSmart Inc. (NYSE: ESMT) suffered.
Although the stock has a lot of work to do before regaining its 2021 highs, analysts expect the company to continue o... Read the Full Story |
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Just over a week ago, shares of Rivian Automotive (NASDAQ: RIVN) were in the negative year-to-date. When I first wrote about Rivian precisely one week ago, the stock was up just 6.13% YTD. Today, shares of the EV company are up over 40% YTD. After breaking above critical resistance at $22, shares ... Read the Full Story |
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As temperatures reach 117 degrees Fahrenheit in Death Valley, California, Generac Holdings Inc. (NYSE: GNRC) is springing to life.
A life cross event is unfolding on the power generation equipment maker’s stock chart, a classic technical pattern that could mark the start of a long-term uptr... Read the Full Story |
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From Our PartnersToday, he’s issuing a different kind of warning.
It involves the world’s smartest man and a secret energy grid that will soon make its way into every town and city across America… | | | | Full details here. |
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Tech | | | The Biden administration is making available $20 billion from a federal “green bank” for clean energy projects such as residential heat pumps, electric vehicle charging stations and community cooling centers Read the Full Story |
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Markets | | | Higher prices lifted PepsiCo's revenue in the second quarter but dented consumer demand, and the company said Thursday that price increases could start to moderate in the second half of this year.Snack food volumes fell 3% in the April-June period, while beverage volumes dropped 1%. Yet net pricing ... Read the Full Story |
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Markets | | | The Bank of England has warned that households across the U.K. are facing mounting problems from the sharp increase in interest rates but says the country’s biggest banks are resilient enough to offer more help than they were able to before the global financial crisis 15 years ago Read the Full Story |
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Markets | | | St. Louis Federal Reserve Bank President James Bullard, one of the most hawkish members of the central bank since it started it aggressive rate-hiking campaign, is stepping down. Bullard is leaving his position as president and CEO of the St. Louis Fed to become the inaugural dean of the Mitchell E.... Read the Full Story |
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Delta Air Lines (NYSE: DAL) surprised the market when it released preliminary results for Q2. The news included a robust outlook for revenue and earnings driven by solid demand for travel. Travel demand is underpinned by consumer and business needs and resulted in outperformance. That’s righ... Read the Full Story |
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Friday's Early Bird Stock Of The Day White Mountains Insurance Group, Ltd., through its subsidiaries, provides insurance and other financial services in the United States. The company operates through HG Global/BAM, Ark/WM Outrigger, Kudu, and Other Operations segments. The HG Global/BAM segment provides insurance on municipal bonds issued to finance public purposes, such as schools, utilities, and transportation facilities, as well as reinsurance protection services. The Ark/WM Outrigger segment offers reinsurance and insurance, including property, marine and energy, accident and health, casualty, and specialty products. The Kudu segment provides capital solutions to boutique asset and wealth managers for generational ownership transfers, management buyouts, acquisitions and growth finances, and legacy partner liquidity, as well as strategic assistance to investees. The Other Operations segment offers insurance solutions to travel industry through broker channel and on a direct-to-consumer basis; and manages separate accounts and pooled investment vehicles for insurance-linked securities sectors, including catastrophe bonds, collateralized reinsurance investments, and industry loss warranties of third-party clients. White Mountains Insurance Group, Ltd. was incorporated in 1980 and is headquartered in Hamilton, Bermuda. | | View Today's Stock Pick |
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