Good MorningEquity markets continued to decline last week after inflation data pointed to a high likelihood of additional FOMC interest rates. The steady pace of CPI combined with hotter-than-expected PPI and rising oil prices suggests that inflation could accelerate and drive the FOMC to hike rates not 1 more time but 2 or more. In this scenario, there will be multiple bank failures and a curb on consumer demand unlike any in more than half a century.
The S&P 500 shed about a half percent, moving to a 1-month low for the week. There are no significant targets for solid support above the 150-day EMA, so a larger decline is expected. A move down to that level would be worth another 4.5% for the broad market and open the door to an even deeper decline. This week, the FOMC minutes will give additional clues to the FOMCs next move and could move the market. Featured: A grave, grave error. (Ad) 
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The technology sector, which has been the top-performing sector this year, has seen a minor decline this week. The Invesco QQQ Trust (NASDAQ: QQQ) has retreated by 1.38% this week. Although the ETF's value is still comfortably above its steadily increasing 200-day SMA, it dipped below its 20-day S... Read the Full Story |
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There’s a reason why many investors own one or more pharmaceutical stocks. This is a $1.2 trillion industry that is essential to the quality of life for many people. And every year, companies in this sector are getting closer to real breakthroughs in areas like diabetes, cancer, even Alzheim... Read the Full Story |
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Exxon Mobil Corp. (NYSE: XOM) has been struggling below resistance near $119 as it forms a follow-on base after undercutting previous structure lows.
The stock has been quietly rallying in recent weeks, notching small weekly gains in above-average turnover. Its one-month return is 5.19%, which is... Read the Full Story |
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From Our Partners | | The End of Elon Musk? Don't make him laugh.
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According to his research, if you listen to the media and miss out on Elon's newest breakthrough, it's going to cost you the fortune of a lifetime. | | Click here to see why the "End of Elon" crowd is about to be wrong again. |
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Markets | | | President Joe Biden signed an executive order Wednesday to block and regulate high-tech U.S.-based investments going toward China — a move the administration said was targeted but it also reflected an intensifying competition between the world's two biggest powers.The order covers advanced computer ... Read the Full Story |
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Markets | | | A choppy day of trading on Wall Street ended Friday with an uneven finish for the major stock indexes, as mixed economic data stoked worries that the Federal Reserve’s work on bringing inflation to heel isn’t done.The S&P 500 slipped 0.1% after wavering between small gains and losses most of the... Read the Full Story |
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From Our Partners | | Larry Benedict made $274 million trading on Wall Street…
Barron’s ranked his hedge fund in the top 1% worldwide.
Now he’s applying the same expertise to the Bitcoin market.
His system tracks 19 indicators to find quick Bitcoin profit opportunities. | | Now he’s revealing the entire thing… FREE. |
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With earnings season well underway, investors are watching pretty much every industry closely. Banks, for example, need to show they can continue benefiting from the rising rates cycle, while tech needs to show it's finally returning to consistent growth. Both industries have seen just how ex... Read the Full Story |
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Markets | | | Swiss taxpayers are off the hook from a government-engineered rescue plan that doled out billions to help UBS, the country's largest bank, take over its ailing rival Credit Suisse.UBS said Friday that it has shut down state support that had made available up to 200 billion Swiss francs (about $230 b... Read the Full Story |
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Markets | | | Congressional Democrats are teaming up with the Biden administration and a progressive advocacy group to turn policy efforts to curb “ junk fees ” into a political rallying cry, betting that a small but potentially potent kitchen table issue will resonate with voters. President Joe Biden promised in... Read the Full Story |
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Markets | | | A forensic audit into Lebanon’s central bank by a New York-based company has revealed yearslong misconduct by the bank's former governor and $111 million in “illegitimate commissions,” according to a report by the company. It's the latest chapter in the saga of Lebanon's embattled former central ban... Read the Full Story |
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Plug Power's (NASDAQ: PLUG) share price fell more than 15% following the Q2 release and no wonder. The timetables for the full commissioning of its flagship green hydrogen-producing plants have been pushed out by at least 2 quarters. That and the mounting losses have raised questions and concerns ... Read the Full Story |
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Monday's Early Bird Stock Of The Day Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS. It offers RITUXAN for treating non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; OCREVUS for relapsing MS and primary progressive MS; LUNSUMIO to treat relapsed or refractory follicular lymphoma; glofitamab for non-Hodgkin's lymphoma; and other anti-CD20 therapies. In addition, the company is developing various products for the treatment of MS, Alzheimer's disease and dementia, neuromuscular disorders, Parkinson's disease and movement disorders, neuropsychiatry, genetic neurodevelopmental disorders, and biosimilars, which are under various stages of development. It has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis Co., Ltd.; Sangamo Therapeutics, Inc.; and Sage Therapeutics, Inc., as well as collaboration with Fujirebio to potentially identify and develop blood-based biomarkers for tau pathology in the brain. The company was founded in 1978 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
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