Good MorningEquity markets began the week on an uncertain footing. Fear of inflation and the FOMC is percolating in the background despite recent signs of cooling. Among the most significant risks to the outlook is the oil price, which broke out to a new high this week. Another risk is the CPI report, which is due out next week. The CPI is expected to show an acceleration from the previous month; the question is how much of 1? Based on the price of oil, it could be substantial.
The S&P 500 index is hovering beneath a critical resistance point. If this point is not crossed soon, the index will correct to firmer support, which could be a large movement. The best target for support is about 5% below the current action, and it may not be sufficient to hold the market. The next target is another 5% lower and may not hold the market if the FOMC strengthens its hawkish tone. Featured: 1907, 1929, 1998, 2007--and now 2023? (Stansberry Research) 
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The takeaway from Q2 earnings results for the retail sector is that consumer habits have changed. Once flush with stimulus cash and little to do but spend it, the consumer buys less discretionary items in favor of everyday items like food, health, and personal grooming. While some emerged as clear... Read the Full Story |
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One stock that has surprised markets with a wild ride during the past twelve months is Meta Platforms (NASDAQ: META), which went from a high of $350 a share in 2022 to a low of roughly $88 during the same year and began 2023 by rising as much as 269%.
News typically follows stock prices, which is... Read the Full Story |
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Apple Inc. (NASDAQ: AAPL) ended August with a loss, finishing in the red for the first time since December.
Likewise, Microsoft Corp. (NASDAQ: MSFT), the S&P 500’s second-largest component, after Apple, ended to the downside in July and August. Microsoft, too, logged gains in each... Read the Full Story |
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Coinbase Global Inc. (NASDAQ: COIN) pulled back after rocketing nearly 15% higher on August 29 on news that a potential launch of a long-awaited Bitcoin ETF may be getting closer.
Investors were initially excited about what a new ETF might mean for Coinbase, but their expectations clearly came ba... Read the Full Story |
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Stocks | | | Shares fell in Asia on Thursday after a decline on Wall Street, where strong economic data revived worries that the Federal Reserve might keep interest rates high for longer than investors had been hoping. Hong Kong's Hang Seng, which has bounced this week on news about Chinese policy changes for th... Read the Full Story |
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Stocks | | | A choppy day of trading on Wall Street ended Friday with slight gains for stocks, as the market notched its second straight winning week.The market got a boost early on from a closely watched government report that showed U.S. job growth increased at a healthy, but more moderate pace last month. The... Read the Full Story |
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Markets | | | Stocks were higher in Europe and Asia on Monday following a report that signaled the US jobs market, while still healthy, shows some signs of cooling, raising hopes for an easing of interest rate hikes. Germany's DAX advanced 0.7% to 15,949.69 and the CAC 40 in Paris picked up 0.8% to 7,354.96. In L... Read the Full Story |
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Markets | | | America's employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Last month's job growth marked an increase from July's revised gain of 157,000 but still pointed to a moderating pace of hiring co... Read the Full Story |
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Markets | | | The Federal Reserve has reached a delicate stage in its fight against inflation.Its policymakers have raised their key interest rate to about 5.4%, its highest level in 22 years, to try to slow borrowing and spending and cool inflation pressures. They now are considering whether to raise the rate ev... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. Its investment products include actively and passively managed mutual funds; rules-based and active exchange traded funds; institutional separate accounts; variable insurance products; alternative investments; and private closed-end funds; and a 529 Education Savings Plan. The company also offers strategies through third-party investment products, including mutual funds, third-party ETF model strategies, retail separately managed accounts, unified managed accounts through wrap account programs, Collective Investment Trusts, and undertakings for the collective investment in transferable securities. Victory Capital Holdings, Inc. was incorporated in 2013 and is based in San Antonio, Texas. | | View Today's Stock Pick |
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