Good MorningEquity markets pulled back for the 3rd week and may pull back further this week. The ugly specter of recession is back in the picture due to persistent inflation and high odds the FOMC will increase interest rates by at least 1 more 25 basis point hike and possibly several.
The critical element now is oil prices. Oil prices show support at higher levels than over the summer, and the supply/demand balance is tilted in favor of demand. The August PCE report, which reports on price changes in July, may not show a significant upswing in inflation due to its lagging nature, but the data for August will be hot when it is released next month.
The S&P 500 is falling and will likely test support at the 150-day EMA this week. The 150-day EMA is an important target for potential support and 1 that will lead to lower prices if broken. If the S&P 500 moves below the 150-day EMA it could fall 5% or more before the next support level is reached. Featured: I interviewed 600 crypto millionaires – here's what's coming (Ad) 
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Tech | | |
Looking for the best AI stocks to buy now? You might have to get in line — artificial intelligence is one of 2023's hottest market trends, and several companies in the industry have already seen massive growth. And when parabolic moves occur, finding artificial intelligence stocks under $20 ... Read the Full Story |
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Stocks | | | Wall Street limped to the finish line of its third losing week in a row on Friday.The S&P 500 barely budged as it ended the week with a loss of more than 2%, like other U.S. indexes. It edged down by 0.65, or less than 0.1%, to 4,369.71.The Dow Jones Industrial Average added 25.83 points, or 0.1... Read the Full Story |
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Markets | | |
Amidst a wave of red dominating the market this week, the overall market has experienced a decline of over 2%. In comparison, the tech sector has suffered an even more substantial drop of nearly 3%. This recent selling has permeated various sectors and industries, affecting many companies. Notably... Read the Full Story |
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Stocks | | |
The technology industry has seen its fair share of up and down this year, with companies like NVIDIA (NASDAQ: NVDA) swinging for a near tripling and other giant names like Apple (NASDAQ: AAPL) beginning to show double-digit pullbacks recently. As always, specific trends and piv... Read the Full Story |
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Markets | | | Asian stocks followed Wall Street higher on Tuesday as traders waited for signs of interest rate plans from this week's Federal Reserve conference.Shanghai, Tokyo, Hong Kong and Seoul rose. Oil prices edged lower.Wall Street's benchmark S&P 500 index rose Monday for its first gain in five days a... Read the Full Story |
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Markets | | |
Shares of Deere & Company (NYSE: DE) are trading lower by as much as 4.8% during Friday's trading session, a reaction that opens up a vast disconnect between the company's second quarter 2023 earnings results and the current valuation.
This name enjoys an underlying industry pu... Read the Full Story |
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Markets | | | A resilient stock market helped boost gains for savers with retirement accounts through the first half of this year. The average 401(k) plan balance stood at $112,400 at the end of the second quarter, an increase of 4% from the first quarter and up 8.3% from the second quarter of last year, accordin... Read the Full Story |
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Markets | | |
Rampant inflation levels have taken a big chunk away from hard-earned paychecks across the United States; now that the FED is acting to normalize these elevated levels, the fear pivots into other areas. Rising interest rates and a slowing economy have become the new concern affecting consumer tren... Read the Full Story |
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Markets | | | WeWork is moving forward with a 1-for-40 reverse stock split in a bid to maintain its listing on the New York Stock Exchange. The NYSE issued a notice to the workspace-sharing company in the spring after shares closed below an average of $1 over a 30-day trading span. The value of company shares hav... Read the Full Story |
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Markets | | | Walmart racked up another strong quarterly sales gain as its low-prices continue to attract budget conscious consumers looking for deals in a tough economic environment. The nation's largest retailer boosted its annual outlook Thursday after reporting better-than expected second-quarter results send... Read the Full Story |
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Monday's Early Bird Stock Of The Day Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks. It offers trucking services, such as door-to-door services, import and export dray, interline services, and specialized services, comprising flatbed trucks, on-deck mobile transport trays, expedited cargo, and permit/overweight services; and supply chain services. It serves automotive, coal, fertilizers, temperature controlled cargo, forest products, dimensional, grain, metal and minerals, petroleum and chemicals, consumer goods, and third party logistics applications. The company operates a rail network of approximately 20,000 route-miles of track and shipping spanning. Canadian National Railway Company was incorporated in 1919 and is headquartered in Montreal, Canada. | | View Today's Stock Pick |
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