Good MorningStocks were mixed and mostly unchanged on the first day of August. The Dow posted a slight gain bolstered by a strong earnings report by Caterpillar. The Nasdaq and S&P 500 both finished slightly in the red.
Manufacturing is the latest sector to send the market conflicting signals. Factory orders look to be gradually improving, but factory employment hit a three-year low. Investors will be watching to see if that weakness will extend throughout other sectors when the jobs report comes out on Friday.
Overall, however, the bulls remain in control as we enter into what is typically one of the quieter months of the year. That could change quickly when Apple reports after the market closes on Thursday. The S&P 500 has been flirting with 4,600 for about a month and positive results from the tech giant could send the index to new highs.
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Technology | | Shares of Arista Networks Inc. (NYSE: ANET) rocketed more than 20% higher on August 1 following the company's better-than-expected second-quarter results.
Arista stock gapped higher at the open and was trading at new highs in monster trading volume.
The company is making it very clear: AI is a ke... Read the Full Story |
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Industrials | | Shares of JetBlue Airlines (NASDAQ: JBLU) are declining by as much as 8.5% during Tuesday's trading session; the significant move down is coming from the company's release of its second quarter 2023 earnings results. Markets may be overreacting by selling highly cyclical stocks, like JetBlue, as the... Read the Full Story |
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Consumer Discretionary | | Marriot International (NASDAQ: MAR) is becoming a mouthwatering value play within a sector that is breaking out above all others, a significant factor during questioning economic times such as today. Shares of Marriot are relatively flat, despite posting their long-awaited second quarter 2023 earnin... Read the Full Story |
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From Our Partners | | The biggest IPO in history is likely just weeks away…
Anthropic, the company behind Claude AI, is rumoured to be lining up a Nasdaq debut before Thanksgiving… at a valuation of up to $2 trillion. But here’s what nobody’s talking about…
A raise of about $100 billion doesn’t just make headlines. It puts an enormous spotlight on the AI industry. And as investors rush to find the next big opportunity in artificial intelligence, some of the most interesting plays may be hiding outside traditional AI stocks. | | Click here to see my #1 pick for the Claude IPO. |
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Industrials | | Caterpillar, Inc. (NYSE: CAT) stock is up nearly 8% in early trading after the company blew past revenue and earnings expectations. The question will be whether the report will be enough to move analyst sentiment which, while generally positive, suggests that these results are priced into the stock.... Read the Full Story |
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Consumer Staples | | Since Inter Parfums, Inc. (NASDAQ: IPAR) commemorated its 35th anniversary by ringing the Nasdaq closing bell on February 13th, its stock is up more than 25%. And while some say the ceremony is a self-fulfilled blessing, the reality is Inter Parfum shares have been trending sharply higher since last... Read the Full Story |
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From Our Partners | | After the Dot-Com Bubble burst in March 2000, the Nasdaq fell 78% over the following decade. But gold staged a historic bull run, and select miners delivered gains of 50X, 53X, 252X, and even 362X.
Garrett Goggin, CFA, CMT and founder of The Golden Portfolio, has spent over 20 years studying these market rotations, including 15 years working alongside gold analyst John Doody. He's identified four gold miners positioned for the next rotation out of AI stocks. | | See Garrett Goggin's four gold miner picks before the next rotation begins |
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Healthcare | |
It wasn’t that long ago that the “Magnificent 7” stocks, Apple Inc. (NASDAQ: AAPL), Microsoft Corp. (NASDAQ: MSFT), Nvidia Corp. (NASDAQ: NVDA), Tesla Inc. (NASDAQ: TSLA), Amazon.com Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL) and Meta Platforms Inc. (NASDAQ: META) were p... Read the Full Story |
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Industrials | | Avis Budget Group (NASDAQ: CAR) stock has been trading within a relatively tight channel for the past year; this can be taken as a sign of indecision from markets facing a directionless market. Despite these initial trends, the underlying transportation industry and its derivatives have shown promis... Read the Full Story |
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Consumer Discretionary | | Up 129% year-to-date, Carnival Corporation & plc (NYSE: CCL) is one of five S&P 500 stocks that have doubled in 2023. Rival Royal Caribbean is another. The unlikely pair is tucked between mega cap technology companies NVIDIA, Meta Platforms and Tesla as this year’s best S&P perform... Read the Full Story |
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Markets | |
It’s been a banner year for the benchmark indexes like the Nasdaq 100 Invesco QQQ ETF (NASDAQ: QQQ), which is up 45%, despite the special rebalancing, or the S&P 500 index SPDR S&P 500 ETF Trust (NYSEARCA: SPY) up 20% year-to-date (YTD). The Russell 2000 Small-Cap index iShares Russe... Read the Full Story |
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Markets | | Satellite TV and wireless provider DISH Network Co. (NASDAQ: DISH) stock surged higher on news of a partnership to sell mobile services to Amazon Prime members. DISH is one of the few mainstream satellite TV and broadband providers. Its niche is providing broadband services to rural, underserved and... Read the Full Story |
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Wednesday'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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