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: Elon’s big $266,000 per second purchase (Ad) 
|
Industrials | |
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 push benefitting ... Read the Full Story |
|
From Our Partners | | Bill Poulos is offering his Smart Trade Options Checklist at no cost today - normally priced at $29.97.
It's a single-page, seven-point filter designed to help traders identify weak setups before placing any options trade. Print it, keep it at your desk, and run it before every trade. The download link expires soon. | | Download your free copy of the Smart Trade Options Checklist now |
|
Financial Services | |
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 |
|
Retail/Wholesale | |
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 |
|
From Our Partners | | Trump is launching a new $250 bill - but that may be a distraction. Behind the scenes, Executive Order 14241 is orchestrating what analyst Porter Stansberry calls a total U.S. money reset, bypassing conventional legal channels under the guise of national security.
The last time America reset its currency - under Nixon in the 1970s - it created an average of 1,300 new millionaires a day for over 50 years. Stansberry has identified three asset categories connected to Trump's initiative that could surge, plus his single top investment move. | | Watch the documentary briefing and find out which side you land on |
|
Technology | |
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 |
|
Technology | |
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 pivots within the indus... Read the Full Story |
|
From Our Partners | | Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the digital dollar. They gave us the timeline… 2025 to 2030. We're in that window right now.
Once the digital dollar launches, every transaction you make will be tracked. Your spending could be controlled. Your accounts could be frozen.
Over 4,500 investors have already used this legal backdoor to hold assets CBDCs can't freeze and generate yields the Federal Reserve can't touch. | | Watch how to access the legal backdoor before it closes. |
|
Energy | |
The energy sector was leading the market on August 17, while eight of the 12 S&P sectors traded lower.
Among the gainers were oilfield services providers Schlumberger Ltd. (NYSE: SLB) and Halliburton Co. (NYSE: HAL), both of which have come on strong in the past three months.
A related seg... Read the Full Story |
|
Markets | |
There are many concerns surrounding the food industry, especially as many operators in the restaurant space have reported contracting margins due to rising input costs in various food items. In the case of BurgerFi International (NASDAQ: BFI), these worries are slowly becoming a thing of the past.... Read the Full Story |
|
Finance | |
For much of last year, Zillow Group Inc (NASDAQ: ZG) could have been the poster child for stocks that were pumped and then dumped with the pandemic. A nearly 90% drop from 2021’s all-time high only bottomed out last October when Zillow shares were back trading at their 2013 levels.
But the ... Read the Full Story |
|
Finance | |
Shares of the biggest banks in the U.S., including JPMorgan Chase & Co. (NYSE: JPM), Bank of America (NYSE: BAC), Citigroup Inc. (NYSE: C), Wells Fargo & Co. (NYSE: WFC) and Morgan Stanley (NYSE: MS) traded lower on August 16, continuing sector declines that began earlier in the week.
Th... Read the Full Story |
|
Auto/Tires/Trucks | |
Raising guidance usually catalyzes a rally, but for Rivian (NASDAQ: RIVN), Ford (NYSE: F), and Keurig Dr Pepper (NASDAQ: KDP), it didn’t happen this time. However, the takeaway from the moves is far from bearish and suggests the possibility that this is the time to buy. While these businesse... Read the Full Story |
|
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 |
|
