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: The case for trading fewer setups, not more (Ad) 
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Medical | |
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 | | Oracle runs 15,000 stocks through the same filter every single day, scanning for precise setups before the opening bell - no emotion, no guesswork.
Tim Bohen, Lead Trainer at StocksToTrade, is walking through this week's flagged setups and showing exactly how the scanner works in a live training right now. | | Watch the scanner in action and join the live training now |
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Business Services | |
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 | | Washington has taken an ownership stake in Intel, carved out a cut of Nvidia's and AMD's chip sales, and reportedly fielded an offer to own 5% of the largest AI company on the planet. The government is shifting from referee to shareholder in the most important technology race of the century.
When the rules change, the winning trades change with them. Some blue chips sitting in your index fund are now on the wrong side of this shift - while a select group of companies pulled into the new arrangement may be treated like national treasures. | | Watch the documentary to see which stocks to buy and sell now |
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Auto/Tires/Trucks | |
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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Retail/Wholesale | |
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 | | The U.S. government has taken roughly a 10% stake in Intel, negotiated a 15% cut of Nvidia and AMD chip sales to China, and reportedly received a 5% ownership offer - worth around $40 billion - from the most valuable AI company on earth.
Porter Stansberry calls it the New U.S.A.I. - a state-backed arrangement where Washington and a handful of tech giants are fused at the balance sheet. A small number of companies get pulled inside. Everyone else gets frozen out, including names sitting in your index fund right now. | | Watch the documentary to see which companies are on the right side |
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Basic 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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Transportation | |
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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Retail/Wholesale | |
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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Business Services | |
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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Technology | |
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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