Good MorningEquity markets wobbled on Wednesday following the Fed's 25 basis point interest rate hike. The hike puts the base rate at 550 basis points and the highest level in over 2 decades. The statement indicated a possible pause at the next meeting but left the door open for another historic interest rate hike later this year. The data-dependent Fed will watch the inflation data for its next cue, and the next release is just around the corner.
The PCE price index is due out tomorrow and may alter the Fed's trajectory. The index is expected to moderate from the previous month, the question is by how much and if the decline will be sustained. As it is, the price of oil is on the rise, and oil underpins the cost of everything. With it on the rise, it is likely that inflation will remain hot, if not accelerate and lead the FOMC to raise rates higher and higher. Regardless, there is little expectation for a rate cut until 2024 if then.
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Consumer Discretionary | | It’s happened again. About this time last month, Tesla Inc (NASDAQ: TSLA) received what was its third rating downgrade in just a few weeks. What we found interesting at the time was that all the analysts putting through the downgrades still felt bullish on Tesla’s longer-term potential. ... Read the Full Story |
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Technology | |
Cyber security stocks have been a hot topic for the last few years, Check Point (NASDAQ CHKP) included. The industry is supported by the shift to digital, the shift to the cloud, the new shift to AI, and it is an industry with long legs. Digitization and the cloud will only become more entrenched ... Read the Full Story |
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Technology | | NXP Semiconductors (NASDAQ: NXP) did not have a blowout quarter, but the results are good enough that analysts praise the news. The takeaway from the chatter is that another steady quarter with solid cash flow supported by the company's diversification has come and gone.
The results, better than ex... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Industrials | | Large capitalization stocks (usually ranging from $50 to $100 billion in size) tend to move very slowly, sort of like a tanker ship trying to turn its course, as opposed to a speedboat trying to corner a turn at high speeds. Boeing (NYSE: BA) is one such stock, a giant in the industry with a valuabl... Read the Full Story |
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Communication Services | |
The price action in Verizon (NYSE: VZ) stock has been trying hard to put in a bottom, and the factors supporting the move are still in place. Verizon trades at a ridiculously low level for almost no reason, paying a safe and growing dividend. The dividend is among the most appealing aspects of the... Read the Full Story |
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From Our Partners | | Rumors are circulating that Elon Musk is preparing to acquire three publicly traded companies.
Dr. Mark Skousen, who met Musk in person and called the SpaceX listing months early, says he has identified all three targets in what he calls Elon's $2.1 Trillion Hit List.
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Consumer Staples | | The Coca-Cola Company’s (NYSE: KO) Q2 results suggest that it can bubble to new highs in 2023, but there is at least 1 headwind for the market that could keep it from moving higher. The analysts. 13 of whom rate the stock a firm Moderate Buy, aren’t gushing with excitement, and their pri... Read the Full Story |
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Healthcare | | BullFrog AI (NASDAQ: BFRG) surged 44.22% higher yesterday on breaking news and traded almost 55 million shares. The digital pharmaceutical company encompassing artificial intelligence (AI) and machine learning (ML) could be a name to watch.
BullFrog AI is a digital biopharmaceutical company in the... Read the Full Story |
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Technology | |
Microsoft (NASDAQ: MSFT) had an outstanding quarter, but it was not enough to spur the market to rally. The takeaway from the post-release action is that AI is priced into the market, and the stock may not reach new highs this year.
The AI hype plays into Microsoft’s standing as a Top-Rated... Read the Full Story |
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Consumer Discretionary | |
Consistent with its “every day should feel as exceptional as the start of a long weekend” credence, Abercrombie & Fitch Co. (NYSE: ANF) opened a new store on famed 5th Avenue on Friday. The lavish, multilevel location echoes not only the glitz of New York City but also how far the... Read the Full Story |
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Consumer Staples | | The better-than-expected June public offering of restaurant operator Cava Group Inc. (NYSE: CAVA) provided a needed lift for a dormant IPO market.
Shares are up 135% from the company’s IPO price of $22. Its market capitalization is currently $5.876 billion. A glance at the Cava Group chart s... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Lilium N.V. engages in the research and development of electric vertical takeoff and landing aircrafts and jet for use in high-speed air transport system for people and goods. It also provides aircraft manufacturer services, including training services, maintenance operations, material management and global distribution, flight operations support, ground service equipment, and digital solutions. The company was founded in 2015 and is headquartered in Gauting, Germany. | | View Today's Stock Pick |
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