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: Boring, cheap, and paying 6% (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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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 | | More than 25 candidates were screened for share price between $1 and $5, market cap above $100 million, daily volume over 500,000 shares, and over $10 million in trailing revenue.
Only five stocks cleared every filter, spanning five different sectors. Two are profitable today, and one pays a substantial dividend.
The report also flags what could go wrong with each pick, including dilution and convertible debt. | | See the five stocks that survived this strict revenue screen |
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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 | | One fund holds Nvidia, CrowdStrike, Palantir and other major AI names, and pays a 34% annualized distribution rate.
Instead of guessing which AI stock wins, this fund delivers income every single Thursday, up to $1,051 a month.
Chief Income Strategist Tim Plaehn breaks down what's inside the fund and how the weekly payouts work. | | Watch the free video to see how the weekly payouts work |
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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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