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: The case for trading fewer setups, not more (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 | | Oracle runs 15,000 stocks through the same filter every single day, scanning for precise setups before the opening bell - no emotion, no guesswork.
Tim Bohen, Lead Trainer at StocksToTrade, is walking through this week's flagged setups and showing exactly how the scanner works in a live training right now. | | Watch the scanner in action and join the live training now |
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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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Retail/Wholesale | |
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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From Our Partners | | Every morning before the market opens, a scanner called Oracle runs through 15,000 stocks and scores the setups — so there's already a plan in place by 6:15 a.m.
Lead Trainer Tim Bohen of StocksToTrade is walking through exactly how Oracle works and how regular traders are using it in a training running right now. | | Watch the Oracle training now and see how the scanner works |
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Auto/Tires/Trucks | |
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 | | The U.S. government has taken roughly a 10% stake in Intel, negotiated a 15% cut of Nvidia and AMD chip sales to China, and reportedly received a 5% ownership offer - worth around $40 billion - from the most valuable AI company on earth.
Porter Stansberry calls it the New U.S.A.I. - a state-backed arrangement where Washington and a handful of tech giants are fused at the balance sheet. A small number of companies get pulled inside. Everyone else gets frozen out, including names sitting in your index fund right now. | | Watch the documentary to see which companies are on the right side |
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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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Medical | |
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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Retail/Wholesale | |
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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Finance | |
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 Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. It operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company was incorporated in 1967 and is headquartered in Santa Clara, California. | | View Today's Stock Pick |
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