Good MorningThe S&P 500 and NASDAQ finished the day with slight gains after trading lower most of the day. Fed chair Jerome Powell dampened investor sentiment by stating that the pace of further rate cuts was not likely to be as aggressive as the 50-basis point cut the Fed delivered in September.
Investors were also likely considering the potential effect of a strike at dozens of U.S. shipping ports, which will go into effect at midnight on October 1. To this point, the Biden administration has said it will not intervene to prevent the strike.
One bright spot was China stocks, which had their best day in 16 years, sending related U.S. ETFs soaring in unison.
Investors should expect a volatile week with fresh data regarding manufacturing and services due out before the market opens on Tuesday. The week ends with the September jobs report, which could be a market mover.
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The off-price trend has taken the retail wholesale sector by storm in the current economic climate. Consumers are trying to stretch their dollars but don't want to sacrifice quality. This rules out low-quality and low-price outlets like Dollar Tree Inc. (NASDAQ: DLTR) or even Dollar General Co. (N... Read the Full Story |
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Stocks | | | U.S. stocks retreated from their records Tuesday after Iran fired missiles into Israel, a sharp escalation of tensions in the Middle East that investors fear could lead to disruptions in the flow of oil. The S&P 500 pulled 0.9% lower, and the Dow Jones Industrial Average lost 173 points, or 0.4... Read the Full Story |
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While footwear manufacturers like Nike Inc. (NYSE: NKE), Crocs Inc. (NASDAQ: CROX), and Skechers U.S.A. Inc. (NYSE: SKX) stocks took hits with contracting sales due to weaker consumer spending, ON Holdings AG (NYSE: ONON) has been quietly making new highs trading up nearly 90% year-to-date (YTD). ... Read the Full Story |
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Zeta Global Holdings Co. (NYSE: ZETA) is a data-driven marketing technology company that provides an artificial intelligence (AI) powered customer intelligence and marketing automation platform. The stock has taken a meteoric rise, up 234% year-to-date (YTD). This relatively obscure computer and... Read the Full Story |
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DraftKings Inc. (NASDAQ: DKNG) is best known for its online and mobile sports betting app, especially as the 2024 National Football League (NFL) season is underway. There are lots of mobile sports betting apps from competitors in the consumer discretionary sector like Flutter Entertainment plc (NY... Read the Full Story |
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Markets | | | China's economy weakened further in recent weeks, according to surveys released Monday, signaling the need for more support as the government ratchets up stimulus. The Caixin purchasing managers survey showed new manufacturing orders fell at the fastest pace in two years in September.“Operating cond... Read the Full Story |
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Markets | | | Federal Reserve Chair Jerome Powell signaled Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy. His comments, at a conference of the National Association for Business Economics in Nashville, Tennessee... Read the Full Story |
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Markets | | | Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank's target of 2% for the first time in more than three years as falling energy prices give consumers relief from a burst of inflation that at one point reached into double digits.Tuesday's offici... Read the Full Story |
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Markets | | | Business sentiment among Japan’s large manufacturers stood unchanged in the latest quarter from the previous quarter, according to a closely watched survey called “tankan” released Tuesday.The Bank of Japan survey put the benchmark index at plus-13 for the July-September quarter, the same from the p... Read the Full Story |
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Seagate Technology Holdings plc (NASDAQ: STX) is a leading provider of consumer and enterprise data storage solutions. It is the largest hard disk drive (HDD) manufacturer in the world and also sells solid-state drives (SSD). Combined with rival Western Digital Co. (NASDAQ: WDC), the duopoly com... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Samsara Inc. provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy. Its applications include video-based safety that enables customers to build a safety program and protect their teams with AI-enabled video; vehicle telematics which provides visibility into real-time vehicle location and diagnostics with GPS tracking, routing and dispatch, fuel efficiency management, electric vehicle usage and charge planning, preventative maintenance, and insights to manage fuel and energy costs; and mobile apps and workflows that improves productivity for frontline workers and enables regulatory compliance for workers to see upcoming jobs, capture electronic documents, perform maintenance inspections, maintain compliance logs, and message with back-office administration. The company also provides equipment monitoring which offers visibility and management of unpowered and powered assets, ranging from generators and compressors to heavy construction equipment and trailers to improve operating efficiency, prevent unplanned downtime, and avoid critical safety and compliance issues; and site visibility that provides remote visibility into sites to improve onsite security, safety, and incident response times. It serves transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, healthcare and education, manufacturing, food and beverage, and other industries, as well as government. Samsara Inc. was incorporated in 2015 and is headquartered in San Francisco, California. | | View Today's Stock Pick |
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