Good MorningEquity markets pulled back on Thursday following the Fed's Wednesday policy statement. The statement sent the yield on the 10-year treasury shooting skyward to set a new multi-year high, and the threat of recession grows. At the new levels, the rate on the 30-year mortgage will also rise and soon top 8%. At this level, homeowners signing contracts for new mortgages will be paying nearly 3 times as much interest payments as at the bottom of the pandemic, which threatens the housing market. With rates at these levels, existing homeowners are unlikely to move without cause, keeping the market tight.
The S&P 500 shed more than 1.50% at the session's low and is in danger of a more profound decline. The index is above critical support at the 150-day moving average, which may not hold. In that scenario, the S&P 500 could fall another 5% or more before hitting bottom. The next significant catalyst is the PCE report due next week. Another hot read on inflation will ensure the FOMC hikes rates at the next meeting. Featured: Free today: My 7-point options checklist (Ad) 
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Healthcare | |
In a world obsessed with TV sensation “Shark Week” and viral kids song “Baby Shark,” SharkNinja, Inc. (NYSE:SN) is producing some thrills of its own. Shares of the consumer appliances maker are up more than 50% since August 4th — and becoming a popular momentum bet am... Read the Full Story |
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From Our Partners | | In 1720, Richard Cantillon discovered that new money never spreads evenly through an economy. It reaches certain hands first and everyone else pays for it later.
Fifty years after the petrodollar reshaped global wealth, a new monetary reset may be underway, this time tied to critical minerals, energy, and AI infrastructure. Stocks like Vertiv, GE Vernova, Arista Networks, and Taseko Mines have already posted major gains since the shift began.
Porter Stansberry breaks down the full story, including which companies sit closest to the new money flow. | | Watch Porter Stansberry's full documentary on the new dollar now |
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Technology | |
Regarding medium-cap technology companies, finding a stock that has performed as impressively and consistently throughout the year as AppLovin (NYSE: APP) might be difficult. Remarkably, year-to-date, shares of the software technology company increased in the triple digits, up over 273% to be exac... Read the Full Story |
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Technology | |
One stock in particular that has displayed impressive relative strength in recent days compared to the overall market and its sector is Akamai Technologies (NASDAQ: AKAM).
While the overall market, SPDR S&P 500 ETF Trust (NYSE: SPY), is down close to 4% on the week so far, shares of AKAM are ... Read the Full Story |
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From Our Partners | | The Department of Justice recently argued in court that cash is not legally property, raising new questions for savers as federal debt continues to climb.
Your IRA, 401k, and bank accounts are not hidden from view, prompting some Americans to look for ways to keep more control over their own wealth.
A free information kit outlines three strategies people are considering to help shield their savings from future policy changes. | | Get the free information kit and explore savings strategies now |
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Consumer Discretionary | |
As the United States economy begins to pivot into what could be considered a 'hard landing,' the wealth gaps and distribution begin to upset specific members of the economy.
The United Auto Workers (UAW) members have gone on strike during most of September, demanding that their wages rise due to ... Read the Full Story |
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Consumer Discretionary | |
Amazon (NASDAQ: AMZN) is not a cheap stock, but there are indications it is undervalued. The company's transition to CEO Andy Jassy resulted in significant traction and, more importantly, an expectation for wider margins that engage the market at all levels. What this means for investors is that o... Read the Full Story |
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From Our Partners | | Reports suggest some Silicon Valley billionaires are stockpiling gold, guns, and gas masks - or leaving the country entirely - as concerns grow about the next phase of the AI market.
One AI insider says investors should reassess their positions before August 31, pointing to a critical shift ahead for tech and AI-related stocks. | | Read the full warning about the AI market's next phase now |
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Materials | |
Within the latest ISM non-manufacturing PMI report, the mining industry is sending traders and investors a clear 'qualitative' message that they would be wise to consider. "Declining commodity prices seem to have bottomed out." is the prevailing sentiment from the respondent section of the report.... Read the Full Story |
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Industrials | |
FedEx (NYSE: FDX) shares are up more than 5% following its Q1 report for fiscal year (FY) 2024 and could move higher. The results are mixed, the guidance as expected, but the margin and cash flow matter now. The company widened the margin on cost reductions expected to stick, driving a robust outl... Read the Full Story |
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Consumer Discretionary | |
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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Industrials | |
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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Communication Services | |
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 eclipse its previous ... Read the Full Story |
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Friday's Early Bird Stock Of The Day ModivCare Inc., a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The company offers risk underwriting, contact center management, network credentialing, claims management, and non-emergency medical transport management services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services. It also provides in-home personal care services, such as bathing, personal hygiene, grooming, oral care, dressing, medication reminders, meal planning, preparation and feeding, housekeeping, transportation services, prescription reminders, and assistance with dressing and ambulation services through placing non-medical personal care assistants, home health aides, and skilled nurses primarily to Medicaid patients in need of care monitoring and assistance in performing daily living activities, including senior citizens and disabled adults. In addition, the company offers remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, medication management, and data-driven patient engagement solutions. It serves federal, state, and local government agencies, MCOs, commercial insurers, private individuals, and health systems. The company was formerly known as The Providence Service Corporation and changed its name to ModivCare Inc. in January 2021. ModivCare Inc. was incorporated in 1996 and is headquartered in Denver, Colorado. | | View Today's Stock Pick |
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