Good MorningEquity markets tried to build on Monday's gains but fell in Tuesday trading by the end of the session. News from Dick's Sporting Goods is among the reasons why. The Q2 report paints a bleak picture for retail; the stock fell more than 20% at the session's low. According to Dick's, rising inventory shrinkage, or theft, is cutting into the bottom line results and significantly impacting the guidance. This is not a new phenomenon but 1 that has worsened over the last 3 quarters and will continue to worsen.
Tuesday's decline in the S&P 500 is important because it showed resistance at the 30-day moving average. If confirmed, this resistance could send the index down to new lows. The next target for solid support is near the 150-day EMA, which is about 2.7% below Tuesday's close; the next target below is another 2.5% to 5% lower. The market sell-off will gain momentum if good news doesn't emerge soon.
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Industrials | |
As artificial intelligence consumes more media and investor attention, some investors are considering AI research lab OpenAI. If you're an investor asking yourself, “How can I buy Open AI stock?” — you're in for some unfortunate news. The company is currently privately owned and ... Read the Full Story |
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From Our Partners | | Barrick Mining has spent decades building one of Nevada's richest gold districts, anchored by Fourmile, Goldrush, and Cortez Hills, deposits that could hold up to 60 million ounces of gold.
One overlooked explorer controls 142 claims bordering Fourmile and sitting less than a mile from Goldrush. New geological modeling aims to reveal what's beneath this largely untested ground, while a planned 5% royalty spin-off could give shareholders a separate stake in the project. | | Read the full report before the next catalyst hits |
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Markets | | AI is expected to grow significantly over the next 7 years, and this is not an opportunity passive investors should pass up. Several top ETFs give pure-play exposure to AI without the risk that some bring. ETFs like The Roundhill Generative AI & Technology ETF (NYSEARCA: CHAT), The Wisdom Tree A... Read the Full Story |
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Technology | |
Technicals aside, there are several reasons why Zoom Video Communications (NASDAQ: ZM) is ready to rock into a reversal. The point is that the stock is down more than 87% off its pandemically-driven highs, offering an opportunity that long-term investors may not want to pass up.
With growth on t... Read the Full Story |
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From Our Partners | | A new tool called Oracle tracks insider bets hidden in the predictions market, flagging which stocks and options could be affected.
During beta testing, Oracle identified notable short-term moves including USO up 39% in four days, PLTR up 43% in a day, and WEN up 67% in two days, all through a regular brokerage account.
See how Oracle spots these hidden insider bets before they make headlines. | | Get free access to Oracle and see the data now |
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Technology | | Just as it looked like shares of Palo Alto Networks (NASDAQ: PANW) were on the verge of topping July’s all-time high earlier this month, investors of the cyber security stock got a rude awakening. Poor earnings and forward guidance from their competitors Fortinet Inc (NASDAQ: FTNT), as well as... Read the Full Story |
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Industrials | |
Sell in May and go away was slightly delayed this year. In 2023, August is the month when investors are finally taking a breather. Historically, the dog days of summer bring more volatility and lower trading volume. That's particularly true in the latter part of August.
The problem for investor... Read the Full Story |
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From Our Partners | | Trader Chris Pulver says a new SEC document dropping the day-trading limit to $2,000 has created the biggest retail opportunity he has seen in over 30 years.
His strategy targets what he calls Flashpoints - moments when market makers must move billions of dollars on the S-P 500 in a narrow window. Research shows one recent signal would have returned 83.7% in 36 minutes and another 62.8% in 51 minutes.
Lance Ippolito flew to Utah for a full breakdown of the method. | | Tap here to see the complete Flashpoint trading breakdown now |
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Consumer Discretionary | | Many investors will want to quickly move on from last week as the overall market continued its recent selloff. The SPDR S&P 500 ETF Trust (NYSE: SPY) recorded a decline of more than 2% by the week's close, contributing to a month-long decrease of 3.47%. While the spotlight has mainly focused on ... Read the Full Story |
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Consumer Discretionary | | Sky-high rates for plane tickets? Overcrowded airports and full flights? Expensive hotel rooms? Pricey stays at AirBnb Inc. (NASDAQ: ABNB) properties? Inflation and economic uncertainty?
None of that is curbing global travel demand, and analysts expect that trend to continue.
Not only have cruise... Read the Full Story |
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Consumer Staples | | Dividend Kings are tried and true investments with a long history of sustained dividend payments and distribution increases. The kind of track records that help investors sleep soundly at night, but these stocks are not always easy to buy. Dividend Kings are in demand, meaning they can come with hig... Read the Full Story |
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Industrials | |
Rideshare operator Lyft Inc. (NASDAQ: LYFT) has all been left for dead after rival Uber Technologies Inc. (NYSE: UBER) reported a 49% revenue spike and double-digit metrics growth in 2023. Lyft neglected to diversify its business with food delivery or other businesses outside of modal transportati... Read the Full Story |
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Finance | | What does getting a speed camera ticket, having your car towed and being harassed by debt collectors all have in common? Yes, they are miserable experiences that you hate to encounter. Unfortunately, they are also necessary consequences in modern civilized society. Furthermore, they are also very pr... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day MKS Instruments, Inc. provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, Germany, China, South Korea, and internationally. It operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments. The VSD segment provides foundational technology solutions, including pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, and vacuum technology. The PSD segment offers range of solutions, which include lasers, beam measurement and profiling, precision motion control, vibration isolation systems, photonics instruments, temperature sensing, opto-mechanical components, optical elements, systems for flexible PCB laser processing, and laser-based systems, as well as high density interconnect PCB and package manufacturing. The MSD segment develops, process, and manufactures technologies comprising advanced surface modification, electroless and electrolytic plating, and surface finishing for chemistry, equipment, software, and services markets, as well as high-technology applications. In addition, the company sells its products and services through direct sales, network of independent distributors, and sales representatives, as well as websites, including product catalogs. The company was incorporated in 1961 and is headquartered in Andover, Massachusetts. | | View Today's Stock Pick |
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