Good MorningMarkets had a choppy day that ended with all the major indexes posting slight losses. Investors may still be taking profits after Fitch downgraded the United States credit rating.
However, the markets may also be reacting to oil prices which surged to over $81 a barrel as Saudi Arabia announced it would extend its production cut at least through September. That could be adding to concerns about rising inflation. Investors will get the next read on consumer prices and producer prices next week.
But as this week comes to an end, the markets are eagerly awaiting earnings from Apple which will come in after the market closes. That report, along with the jobs report tomorrow will set the tone for the market heading into another week of earnings.
Featured: Volatility Is Rising—But These 2 AI Stocks Could Thrive 
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The meme stock craze of 2021, led by GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC), saw retail investors from online forums like Reddit's WallStreetBets challenge institutional short-sellers, causing a significant short squeeze and sparking debates on market manipulation and finance democ... Read the Full Story |
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Markets | | | As the United States economy continues to show signs of a potential contraction, especially after following the nine-month consecutive contracting readings in the ISM manufacturing PMI index, some industries are beginning to show signs of favoritism. As the cycle gets underway, markets usually ... Read the Full Story |
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With AI spending on the rise by giants such as Alphabet Inc. (NASDAQ: GOOGL) and Microsoft Corp. (NASDAQ: MSFT), other chipmakers besides juggernaut Nvidia Corp. (NASDAQ: NVDA) are set to benefit.
One such company is Marvell Technology Inc. (NASDAQ: MRVL), which expects its AI chip revenue ... Read the Full Story |
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Stocks | | | Asian stocks markets were mixed Friday after Wall Street sank for a third day following a British interest rate hike.Shanghai and Hong Kong advanced. Tokyo retreated. Oil prices were mixed.Wall Street's benchmark S&P 500 index fell 0.3% after the Bank of England on Thursday raised its main lendi... Read the Full Story |
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Shares of sensation travel platform Airbnb (NASDAQ: ABNB) are trading lower by as much as 2.0% in the post-market hours of Thursday evening, an initial reaction after a tense quarter full of challenges for the industry.
As the American traveler updates destination preferences this summe... Read the Full Story |
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Stocks | | | Stocks fell Friday to close out a rare losing week for Wall Street following mixed reports on the U.S. job market and two of the market's most influential stocks.The S&P 500 sank 23.86, or 0.5%, to 4,478.03. It was the fourth straight drop for Wall Street's main measure of health after it set a ... Read the Full Story |
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Despite being a $30 billion company, Symbotic Inc (NASDAQ: SYM) isn’t one of the more well-known stocks out there. That’s been changing, though, helped by the fact that in recent weeks they’ve consistently been among the best-performing equities. Shares of the AI r... Read the Full Story |
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Markets | | | Banks from four Arab countries are interested in investing in Lebanon’s struggling banking sector, which was hard-hit by the small nation’s three-year economic meltdown, a top Arab banker said Thursday.Lebanon is in the throes of its worst economic crisis in its short and troubled history that has s... Read the Full Story |
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Stocks | | | Late Tuesday, Fitch Ratings became the second of the three major credit-rating firms to remove its coveted triple-A assessment of the United States government's credit worthiness, a move that spurred debate in Washington about spending and tax policies. Fitch cited the federal government's rising de... Read the Full Story |
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Markets | | | Airbnb said Thursday its second-quarter profit jumped more than 70% over last summer, to $650 million, as revenue rose on strong bookings for summer-vacation rentals.The San Francisco company said bookings grew 11% over the same period last year. Still, they were a bit lighter than analysts expected... Read the Full Story |
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Friday's Early Bird Stock Of The Day Universal Logistics Holdings, Inc. provides transportation and logistics solutions in the United States, Mexico, Canada, and Colombia. The company offers truckload services, which include dry van, flatbed, heavy-haul, and refrigerated operations; domestic and international freight forwarding, and customs brokerage services. It transports various commodities comprising automotive parts, machinery, building materials, paper, food, consumer goods, furniture, steel, and other metals. The company also provides value-added services for individual customer requirements, including material handling, consolidation, sequencing, sub-assembly, cross-dock, kitting, repacking, warehousing, and returnable container management; and intermodal support services comprising short-to-medium distance delivery of steamship and rail truck containers between the port or railhead, and the customer. It serves automotive, steel, and other metals, retail and consumer goods, energy, and manufacturing industries, as well as other transportation companies who aggregate loads from various shippers. The company was formerly known as Universal Truckload Services, Inc. and changed its name to Universal Logistics Holdings, Inc. in April 2016. Universal Logistics Holdings, Inc. was founded in 1932 and is headquartered in Warren, Michigan. | | View Today's Stock Pick |
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