Good MorningEquity markets rallied on Thursday on stronger-than-expected retail sales. Retail sales accelerated to 0.6% MoM from the prior read and suggest continued resilience in the US economy. Likewise, the latest read on the Fed's GDP shows US GDP advancing nearly 5.0% in Q3, a double-edged sword for the market. With CPI hot, PPI hot, and oil prices up, it's hard not to think the gains are underpinned by higher prices rather than actual demand. This means an increasing chance for additional FOMC interest rate hikes and another nail in this market's coffin.
The S&P 500 increased nearly 1.0% on Thursday's news, but there is a significant hurdle overhead. The market moved higher but is still below the critical 4,545 level, which could provide stiff resistance. The next major catalyst is the FOMC meeting next week; if the market confirms resistance at that level following the policy announcement, a significant correction will likely follow. Featured: Is Elon's empire crumbling? (Ad) 
|
Markets | | |
Not very often do investors get the opportunity to buy an industry leader at a discount; today, shares of Shutterstock (NYSE: SSTK) are bringing what could be the deal of the cycle, yet people need to be talking about it. Is there any reason for the secrecy?
Perhaps because the top three owners o... Read the Full Story |
|
From Our Partners | | A Historic Gold Announcement Is About to Rock Wall Street?
For months, sharp-eyed analysts have watched the quiet buildup behind the scenes. Now, in just days, the floodgates are set to open. The greatest investor of all time could validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent — and four tiny miners could be your ticket to 100X gains. | | Click here to get Garrett’s Top Four picks now. |
|
Markets | | |
WeWork (NYSE: WE) experienced a remarkable surge of 62.15% on Tuesday, briefly surpassing the 100% mark intraday despite the absence of any significant news catalyst.
The driving force behind this dramatic uptick was the extraordinary trading volume, reaching an impressive 61.5 million shar... Read the Full Story |
|
Markets | | |
Resilient American consumers. Below normal valuations. Moderating inflation. Artificial intelligence. They're all adding up to a fantastic 2023 for U.S. equities.
Interestingly, this year’s rally has been a bit of a self-fulfilling prophecy. Rising stock prices are prompting investors... Read the Full Story |
|
From Our Partners | | Bitcoin just passed Amazon in total market cap — but most investors are missing the bigger opportunity.
While the crowd buys Bitcoin outright, trader Larry Benedict is using a method called “Bitcoin Skimming” to target 6x, 9x, even 22x bigger profits. He reveals how it works in a free video. | | Watch the Bitcoin Skimming strategy here |
|
Markets | | |
On August 24, World Wrestling Entertainment, Inc. (NYSE: WWE) was like a beefy man in tights standing atop the ropes in preparation for a takedown. The specialty media group had just announced record ticket sales for the upcoming 'WrestleMania 40' at Lincoln Financial Field in Philadelphia. Its st... Read the Full Story |
|
Stocks | | | Wall Street capped a choppy week of trading with a broad slide for stocks Friday, giving the S&P 500 its second losing week in a row. The benchmark index fell 1.2%, its first loss in three days. The Dow Jones Industrial Average dropped 0.8% and the Nasdaq composite gave back 1.6%. U.S. automaker... Read the Full Story |
|
From Our Partners | | Jeff Brown recently traveled to a ghost town in the middle of an American desert…
To investigate what could be the biggest technology story of this decade.
In short, he believes what he's holding in his hand is the key to the $100 trillion AI boom…
And only one company here in the U.S. can mine this obscure metal. | | Click here to get the details on this virtual monopoly. |
|
Markets | | | Asian shares advanced Friday, with solid gains for Chinese markets after the central bank eased the reserve requirements for banks to encourage more lending and prop up the slowing economy.Hong Kong's Hang Seng surged 1.3% to 18,280.11 and the Shanghai Composite index was up 0.4%, at 3,138.94. Late ... Read the Full Story |
|
Stocks | | |
Despite coming close to topping last year's highs, restaurant stocks, as measured by the exquisitely ticketed Invesco Food & Beverage ETF (NYSEARCA: PBJ), have been having a sluggish 2023. Higher wages, rising borrowing costs, and a drop in consumer spending are just some of the headwinds... Read the Full Story |
|
Markets | | | Shares of U.K. chip designer Arm Holdings rose almost 25% in their stock market debut, in the largest initial public offering of shares in nearly two years.The shares opened at $56.10 on the Nasdaq Thursday after having been priced at $51. They closed at $63.59, giving Arm a market value of $68 bill... Read the Full Story |
|
Markets | | | The average long-term U.S. mortgage rate edged up this week, pushing up borrowing costs for prospective homebuyers already facing a housing market limited by a dearth of homes for sale and rising prices Read the Full Story |
|
Markets | | | When the unexpected happens — whether fire, hail, or human error — renters insurance can provide much-needed stability. But many choose not to purchase coverage, including in places most frequently and hardest hit by natural disasters, new research shows.Linda Klamm, who works as an attorney for ins... Read the Full Story |
|
Friday's Early Bird Stock Of The Day Inhibrx, Inc., a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency. It also develops INBRX-109, a tetravalent therapeutic candidate targeting death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, colorectal cancer, ewing sarcoma, and pancreatic adenocarcinoma; and INBRX-106, a hexavalent agonist of OX40 for a range of oncology indications. The company has license and collaboration agreements with 2seventy bio, Inc. and Bristol-Myers Squibb Company. Inhibrx, Inc. was incorporated in 2009 and is headquartered in La Jolla, California. | | View Today's Stock Pick |
|
