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: Sell these "safe" blue chips immediately (Ad) 
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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 shares ex... Read the Full Story |
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From Our Partners | | Porter Stansberry nearly canceled the entire project. When he first saw the claimed returns - only one down year in nearly two decades and total gains of almost 2,000% - his immediate reaction was disbelief.
It took a trusted friend's personal vouching for Emmet Savage and a face-to-face trip to Ireland to change his mind. The full documentary, Investigating Project Prophet, is now live. | | Watch the full story and see the verified track record for yourself |
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Consumer Staples | |
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 |
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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 to p... Read the Full Story |
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From Our Partners | | Moderna's stock doubled in a single day after its cancer vaccine hit key Phase 3 goals, and Merck jumped too. But according to a former Steve Cohen fund manager, the next big opportunity is not Moderna or Merck.
It is a different kind of company tied to a technology already backed by Elon Musk, Sam Altman, Jeff Bezos, and Peter Thiel. Nvidia's Jensen Huang says it will have a dramatic impact on daily life, while Anthropic's CEO believes it could unlock a century of medical progress in just ten years.
Nature Magazine estimates its potential value at $367 trillion globally, and it is already rolling out across the United States. | | Click here to learn about this new era of medical technology |
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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 |
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Consumer Discretionary | |
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 weig... Read the Full Story |
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From Our Partners | | Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying out up to $1,152 a month to regular investors - no mining stocks, no options, no physical metal required.
Chief Income Strategist Tim Plaehn calls it a breakthrough strategy that transforms gold's rally into reliable monthly payouts. The next distribution is just days away. | | Discover the gold income fund before the next payout date |
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Industrials | |
REV Group (NASDAQ: REVG) and GreenPower Motor are specialty vehicle manufacturers with more in common than growth. Both companies are exposed to the specialty vehicle market and EVs and are experiencing solid growth. To assess which is the better buy depends on what kind of exposure you're looking... Read the Full Story |
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Technology | |
AI is hot right now and driving outsized expectations for many stocks today. One way to tell which companies have the best chances of success is to see which ones the institutions are buying. Institutional buying is significant and should be watched for many reasons. Most importantly, they have th... Read the Full Story |
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Consumer Discretionary | |
With Tesla Inc (NASDAQ: TSLA) shares having already rallied close to 200% this year, many investors will understandably be wary about chasing the bid. It’s always nice to feel like you’re getting shares at a discount whenever you decide to buy, but unless you’re one of the most a... Read the Full Story |
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Energy | |
Based out of Canada, Enbridge Inc. (NYSE: ENB) operates the world's longest crude oil and liquids transportation system, totaling 17,809 miles of active pipeline. While it also has core businesses in the natural gas pipelines, gas utilities and storage and renewable energy segment, it still collec... Read the Full Story |
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Real Estate | |
Are you a REIT investor looking for diversification in your passive income streams? REITs are terrific vehicles for gaining exposure to the real estate market without going through the hassle of purchasing property. They're also imperfect assets with certain risks. A REIT alternative can mitigate ... Read the Full Story |
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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 |
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