Good MorningEquity markets retreated on Thursday after mixed news from the labor market. The ADP report was the news of the day, and it came in much hotter than expected. The data suggests resiliency within the labor market that will underpin wage inflation and inflation this year. Contrary to the ADP, the JOLTs data contracted more than expected, suggesting tightening conditions within the labor market. The takeaway for investors is that the FOMC should be expected to continue hiking rates as indicated, but the end of the cycle is getting closer. The question that remains is how hard the landing will be. Will the US tip into recession in 2023?
Today's action will be driven by the Non-Farm Payrolls report. If it comes in as hot as the ADP or even close, the S&P 500 will likely continue its decline. If so, the line to watch is at 4,300. The summer rally may continue if the market can sustain that level of support. If not, the next major stock market correction may have just begun. Featured: Crypto Genius: Forget bitcoin – this will be so much bigger (Ad) 
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Stocks | | | Wall Street drifted to a mixed finish Friday after data suggested the U.S. job market is still warm enough to keep the economy growing but maybe not so hot that it stokes inflation much higher.The S&P 500 lost 12.64 points, or 0.3%, to 4,398.95, though slightly more stocks within the index rose ... Read the Full Story |
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Shares of the lithium-ion manufacturer, Enovix (NASDAQ: ENVX), have added to its impressive run, with stock up 40% in the last month. Just under a month ago, when I first covered Enovix, shares were up 13.5% YTD. Fast forward three weeks, and the stock is now up close to 55% YTD. So what's caused ... Read the Full Story |
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If you haven’t exactly been monitoring the performance of office-building investments, that’s understandable. With offices sitting empty as employees prefer to work from home, the biggest real estate investment trusts, Alexandria Real Estate Equities (NYSE: ARE), Boston Properties (NYS... Read the Full Story |
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From Our Partners | | It’s Crypto Week at the White House — and the sector is moving from fringe to full-scale adoption.
With Bitcoin hitting $123,000 and giants like BlackRock and Fidelity pouring in, one expert believes a lesser-known coin could soon be vaulted to the top — possibly even landing in the government’s digital reserve. | | See the coin positioned to win from Washington’s crypto push |
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Mark Zuckerberg has started a battle on more than one front. He has chosen not only the company that has most effectively dominated short-form written content but also an adversary known to be a massive risk taker now and again. Eccentric Tesla (NASDAQ: TSLA) CEO Elon Musk bought Twitter... Read the Full Story |
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Constructing a long-term investment portfolio can be a lot like building a house.
First, you pour in the foundation. These are the tried and true pillars that have been around for decades — and ideally, are highly liquid. For investors that prefer exchange traded funds (ETFs), this may incl... Read the Full Story |
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From Our Partners | | CPA and CFA says you have WAY too many stocks - just buy these 3
After years working at the biggest accounting firms like Deloitte and KPMG, Joel Litman (who’s also a member of the Global CFA Institute) figured out a unique, less-risky way to grow rich in the stock market. Litman says you don’t need dozens of investments, overpriced advisers, or hedge funds. You just need these 3 stocks, which have helped Litman’s own mom earn 3,400%. | | Click here to view… |
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Shares of Mullen Automotive are up more than 150% in under 24 hours on a series of news that amounts to 1 thing: Mullen Automotive’s ability to continue as a going concern appears to be without question. The caveat is that short sellers remain committed to their side of the trade and are sel... Read the Full Story |
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Markets | | | The number of Americans applying for jobless benefits rose last week, but remains at healthy levels despite the Federal Reserve's attempt to cool the labor market by raising interest rates.U.S. applications for jobless claims rose by 12,000 to 248,000 for the week ending July 1, from 236,000 previou... Read the Full Story |
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Markets | | | The head of global energy giant Shell says it would be “irresponsible” to cut oil and gas production at a time when the world economy is still dependent on fossil fuels.In an interview with the BBC released Thursday, Shell CEO Wael Sawan also refused to rule out moving the company’s headquarters and... Read the Full Story |
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Markets | | | Some Federal Reserve officials pushed to raise the Fed’s key interest rate by one-quarter of a percentage point at their meeting last month to intensify their fight against high inflation, though the central bank ultimately decided to forgo a rate hike Read the Full Story |
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Markets | | | Another month, another solid gain for America's job market. The pace of hiring by businesses and government agencies in June — 209,000 added jobs — was the smallest monthly gain in 2 1/2 years. Yet it was still a healthy increase, enough to reduce the unemployment rate from 3.7% to 3.6%, barely abov... Read the Full Story |
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Friday's Early Bird Stock Of The Day MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California. | | View Today's Stock Pick |
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