Good MorningWho said August would be a quiet month? All the major indexes fell 1% with the NASDAQ being the worst performer, tumbling over 2%. The negative sentiment was mostly due to the United States receiving a credit downgrade from Fitch.
This is likely a knee-jerk reaction from investors looking for a reason to sell. But if history means anything, the S&P 500 index dropped 7% the last time the U.S. had its credit rating downgraded in 2011.
While this price action may not be long-lasting, it does put Thursday’s earnings reports from Apple and Amazon in sharper focus. Better-than-expected results will likely recharge stocks, particularly in the technology-rich NASDAQ index. But if the results disappoint, it could take the broader market lower.
And before the opening bell on Friday, investors will get the latest reading on employment when the jobs report for July is released.
Featured: The 7 Stocks Quietly Gaining Attention Right Now (Ad) 
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Industrials | |
Generac Holdings, Inc. (NYSE: GNRC) is showing investors what happens when you miss on earnings in a quarter where over 80% of companies have beaten expectations. Shares of GNRC stock are down over 24% in midday trading after the company reported mixed earnings results. If that holds, it will be t... Read the Full Story |
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From Our Partners | | More than 25 candidates were screened for share price between $1 and $5, market cap above $100 million, daily volume over 500,000 shares, and over $10 million in trailing revenue.
Only five stocks cleared every filter, spanning five different sectors. Two are profitable today, and one pays a substantial dividend.
The report also flags what could go wrong with each pick, including dilution and convertible debt. | | See the five stocks that survived this strict revenue screen |
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Consumer Discretionary | | In early trading, the day after the company reported disappointing second-quarter earnings, Camping World Holdings, Inc. (NYSE: CWH) stock was down over 9%. The company missed on both the top and bottom lines, but the real catalyst is the company’s announcement that it slashed its quarterly di... Read the Full Story |
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Finance | |
Investors had been expecting big things from SoFi Technologies Inc’s (NASDAQ: SOFI) earnings this week, especially after its shares rallied 160% since May. However, as seen with the 15% drop from Monday’s high before the numbers were released, they were disappointed, and to make matter... Read the Full Story |
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From Our Partners | | One fund holds Nvidia, CrowdStrike, Palantir and other major AI names, and pays a 34% annualized distribution rate.
Instead of guessing which AI stock wins, this fund delivers income every single Thursday, up to $1,051 a month.
Chief Income Strategist Tim Plaehn breaks down what's inside the fund and how the weekly payouts work. | | Watch the free video to see how the weekly payouts work |
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Communication Services | |
After watching their shares lose 90% of their value through the start of this year, investors would have been forgiven for writing off Roku Inc (NASDAQ: ROKU) once and for all. The well-known digital media and streaming company had seen its stock soar during the pandemic, but it proved unable to m... Read the Full Story |
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Consumer Discretionary | |
Is it worth taking a flyer on a stock that’s not currently showing much, if any, price potential, as Wall Street expects an earnings turnaround?
Everyone wants to get in early, but there’s such a thing as buying too early. If you think a stock has promise, that doesn’t mean you ... Read the Full Story |
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From Our Partners | | Most options educators jump straight into Greeks, spreads, and implied volatility - losing beginners before they ever place a trade.
This free guide from Base Camp Trading takes a different approach, starting with the basics and showing you exactly how options work, why traders use them, and how they fit into a simple trading plan. | | Claim your free options guide and start building real trading knowledge |
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Technology | | Shares of AMD (NASDAQ: AMD) were in rally mode ahead of the Q2 release, and now they look ready to rocket higher. The results were not the blowout they could have been but highlight the difference between AI market leader NVIDIA (NASDAQ: NVDA) and its closest competitors.
Three AI Trades That Cou... Read the Full Story |
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Technology | |
Watching a stock soar ahead of earnings, like we’re seeing now with data analytics software maker Palantir Technologies Inc. (NYSE: PLTR) can be frustrating.
Palantir, which one analyst touts as one of the best machine learning and AI stocks on the market, is making some big moves just day... Read the Full Story |
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Healthcare | | The world’s largest virtual healthcare services provider Teladoc Health Inc. (NYSE: TDOC) stock is finally breaking out of its year-long bearish weekly descending triangle pattern. The 20% jump in share prices within a week was triggered by its Q2 2023 earning report. While still operating in ... Read the Full Story |
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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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Thursday's Early Bird Stock Of The Day Galecto, Inc., a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis. Galecto, Inc. was founded in 2011 and is headquartered in Copenhagen, Denmark. | | View Today's Stock Pick |
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