Good MorningThe S&P 500 fell on Wednesday after the FOMC indicated it was not through raising interest rates. The FOMC held rates steady in September as was expected but said it would raise by another 25 basis points by the end of the year. If so, it would mark the 12th increase since the cycle began, putting interest rates at the highest levels in decades. At current levels, demand has begun to deteriorate; another hike would accelerate the decline and possibly impact S&P 500 earnings.
The S&P 500 is down more than 4% from its recent highs and heading lower. The index has confirmed resistance at a critical level and will pull back at least 5% before the move is through. The risk is that oil prices will continue to rise and accelerate inflation, leading the FOMC to hike rates more than already indicated. In that scenario, the S&P 500 could correct up to 20% or more. Regardless, interest rates are now expected to remain at or above 5% through the middle of 2024, nearly a year longer than previously forecast. Featured: 2023's Best Stock: Buy Before the Market Knows (Darwin) 
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Bullish reversals are a popular tool and strategy for technical traders and investors as they offer the potential for significant gains. The trick is finding a stock that is reversing that is worth investing in. Reversals are a tricky business and often go unconfirmed. The textbook definition of s... Read the Full Story |
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Consumer staples (NYSEARCA: XLP) stocks are down 6.5% from their July highs and more than 10% from the 2022 peaks and may move lower. The caveat is that the sector is trading near the bottom of a range, above critical support, and there are signs of bullish activity in the market. This suggests a ... Read the Full Story |
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Markets | | | Instacart delivered in its stock market debut.The grocery delivery company's shares __ priced at $30 per share ahead of the IPO __ hit a peak of $42.95 Tuesday in the first few minutes of trading on the Nasdaq stock exchange. They finished the day up 12.3% at $33.70, giving the company a market valu... Read the Full Story |
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After tagging a fresh all-time high in the middle of July, shares of tech titan Microsoft Corp (NASDAQ: MSFT) took a well-earned breather and cooled much of the way through August. Few investors would have held this against the tech giant. After a 70% run that saw the company eclips... Read the Full Story |
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Retail, and small-cap retail, in particular, are not having a good time in 2023. The sector is down about 40% from its highs and struggling to gain traction. In fact, some names continue to trend lower. Today's lesson is that opportunities in dead markets are often possible. Takeaways from the Q2 ... Read the Full Story |
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Markets | | | Instacart on Monday priced its initial public offering of stock at $30 a share, raising $660 million for the grocery delivery company.San Francisco-based Instacart sold 22 million shares in the IPO. Trading of the company's stock is set to begin Tuesday on the Nasdaq stock exchange under the stock s... Read the Full Story |
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Markets | | | For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports. Jobs were plentiful, the government's financial co... Read the Full Story |
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Amprius (NYSE: AMPX) is one of many IPOs to hit the market and fall flat. Outsized expectations and overeager investors are never a good combination, but that is yesterday's story. Today's story is that Amprius stock is at the bottom. The market has bottomed and shows signs of life that could incr... Read the Full Story |
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Markets | | | Asian shares mostly declined in cautious trading Tuesday ahead of the Federal Reserve’s looming decision on interest rates.Japan's benchmark Nikkei 225 dropped 1.1% in morning trading to 33,177.75. Australia's S&P/ASX 200 lost 0.5% to 7,192.40. South Korea's Kospi edged down 0.3% to 2,568.12. Ho... Read the Full Story |
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Markets | | | A venture capital firm that has backed buzzy new companies like restaurant chain Slutty Vegan and beauty brand Live Tinted has become symbolic of the fight over corporate diversity policies since becoming a target of a lawsuit over a grant program for Black women.But the Fearless Fund is a tiny play... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Big Lots, Inc., through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, home décor, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, lawn and garden, and other holiday departments; soft home category consists of apparel, hosiery, jewelry; frames, fashion and utility bedding, bath, window, decorative textiles, and area rugs departments; and food category that includes beverages and grocery, specialty foods, and candy and snacks departments. It also provides merchandise under the consumables category, which comprises health, beauty and cosmetics, plastics, paper, pet, infant, stationery, and chemical departments; and hard home category, including small appliances, tabletops, food preparation products, home maintenance and organization products, toys, electronics departments, and other offerings. Big Lots, Inc. was founded in 1967 and is headquartered in Columbus, Ohio. | | View Today's Stock Pick |
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