Good MorningEquity markets advanced on Monday, starting the week on solid footing ahead of key economic data. Top of the list is the Retail Sales figures expected to show gains versus the previous month and last year. The caveat is that retail sales are expected to grow only 0.3% which is only slightly better than inflation. At this pace, underlying demand is barely growing and compounded by higher prices. With the Fed slated to hike rates at least another 25 bps, there is a risk that demand could turn negative and bring the economy down.
The S&P 500 continues its upward march. The index gained over 0.30% at the session's high to hit a new 1-year closing high. The index looks set to retest resistance near 4,660 and could reach that level within weeks. The question is what the market will do then, which could come down to the outlook for earnings. The FOMC is expected to hike rates, but if the outlook for 2nd half earnings improves, the market will continue to rally and set a new high. Featured: 25 candidates screened. 5 made it. (Ad) 
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Consumer Staples | |
The June CPI report revealed that core inflation had fallen to 4.8% from 5.3% in May 2023, which the market interpreted as great news sending stocks soaring the following days. Inflation deceleration has taken many food companies by surprise. Food distributors and producers are getting hit hard on... Read the Full Story |
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From Our Partners | | Tobacco, telecom, pipelines, and healthcare real estate trade at 10 to 15 times earnings while the index yields about 1 percent.
A free report highlights seven cash-generating stocks with a 5 percent forward yield floor and roughly 6.5 percent average cash yield, capped at two picks per sector.
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Finance | |
While stocks like Occidental Petroleum and Rivian Automotive are ranked No. 1 and No. 2 regarding insider volume, they are not the most actively bought stocks by insiders.
Warren Buffett and Berkshire Hathaway are almost entirely responsible for insider buying at OXY, while Rivian just got a sig... Read the Full Story |
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Consumer Discretionary | |
A reversal has been brewing for Chewy, Inc stockholders (NASDAQ: CHWY), and it looks like it is about to take off. An upgrade from Goldman Sachs highlights the company’s recent strengths and suggests a complete reversal is possible. In this scenario, the market will regain the top of its con... Read the Full Story |
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Industrials | |
GreenPower Motor Company (NASDAQ: GP) has had its share of hurdles and headwinds but has overcome the challenges. The company’s FQ4 results, which were delayed for several months, have finally been released, proving the company is building momentum and not just specialty EVs. Among the takea... Read the Full Story |
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Technology | |
Unity Software (NYSE: U) broke above a critical resistance level last week. The stock, now up 55% year-to-date, looks set to continue its impressive momentum on the year after last week's action. Despite pulling back over 5% on Friday, U still closed above the previous resistance, indicating that ... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
While the One Big Beautiful Bill Act eliminated federal credits for solar, wind, and EVs, this energy source was reclassified alongside oil and nuclear power and given eight years of tax credits. Google signed a 15-year contract, and Bill Gates committed $100 million.
One company controls the entire supply chain behind this discovery. | | See the ticker behind this Grand Canyon energy breakthrough now |
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Technology | |
It’s highly unlikely you’ve heard of Applied Optoelectronics Inc. (NASDAQ: AAOI) until maybe recently, as shares soared more than 300% on its new supply agreement with Microsoft Co. (NASDAQ: MSFT). The company is a vertically integrated optical networking product and laser manufacturer... Read the Full Story |
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Healthcare | |
Clinical-stage biotechnology company Recursion Pharmaceuticals Inc. (NASDAQ: RXRX) saw its stock double on the announcement of a $50 million investment from artificial intelligence (AI) leader Nvidia Co. (Nasdaq: NVDA). The news generated volume not seen in years, bringing the spotlight onto the A... Read the Full Story |
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Consumer Discretionary | |
Global digital marketplace platform eBay Inc. (NASDAQ: EBAY) is taking a large step towards establishing itself as a safe and trusted source for designer and branded fashion, jewelry, apparel and collectibles destination. eBay has been stepping up its authentication services to assure buyers of it... Read the Full Story |
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Markets | |
On July 7, 2023, the Nasdaq announced it would implement a special rebalancing for the Nasdaq 100 index, tracked by the Invesco QQQ ETF (NASDAQ: QQQ) effective after hours on July 21, 2023, and pre-market on July 24, 2023. It will be based on the index securities closing prices and outstanding sha... Read the Full Story |
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Consumer Staples | |
It was hard to find big stock market winners in 2022. But dividend stocks were among the better performers. Dividend-paying stocks give investors a reward for simply holding on to the stock. That money can be used to reinvest into the stock. This can either add to your gains or help to offset your... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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