Good MorningEquity markets did an abrupt about-face on Tuesday, shedding more than 1.25% at the session's low. The move was driven by news of weak iPhone sales in China, which caused Apple shares to fall 3%. The S&P 500 may recover from the move soon, but Apple may not. The market is heading lower due to the compounded effect of multiple bad news events that could shave several handles off of the P/E ratio.
The S&P 500 is due for a correction and may use this opportunity as an excuse to do it. The market is well above critical support at the prior all-time high and could retreat as deep as that before finding solid support. However, the market remains above the 30-day EMA, which may provide solid support and keep the rally intact. The biggest risk this week is the labor data, which is not due until Friday. Featured: Watch This Robotics Demo Before July 23rd (Ad) 
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New trends are developing in the United States stock market, which will soon attract professional investors – and traders – into consumer discretionary stocks. These stocks are characterized by their high exposure to the underlying business and economic cycle. For specific reasons that... Read the Full Story |
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Roughly a month ago, the market witnessed a news headline that would have halted trading for the day in Boeing (NYSE: BA). During a flight serviced by Alaska Air Group (NYSE: ALK), a door popped off in the middle of the air in one of Boeing’s 737 MAX 9 aircraft. Following the incident, Boein... Read the Full Story |
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Chinese new energy vehicle (NEV) maker Li Auto Inc. (NASDAQ: LI) started the electric vehicle (EV) race with competitors Nio Inc. (NYSE: NIO) and Xpeng Inc. (NYSE: XPEV) on relatively even footing in the Auto/Tires/Trucks sector in 2020. As EV speculation hit the stock market, Xpeng and Li Auto re... Read the Full Story |
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Beam Therapeutics Inc. (NASDAQ: BEAM) is a biotech company that specializes in developing precision gene therapies for hereditary diseases. The medical sector company is a pioneer in a proprietary gene-editing technique called base editing. Unlike CRISPR/Cas-9, popularized by CRISPR Therapeutics A... Read the Full Story |
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Markets | | | China has plenty of room to maneuver to attain its annual target for robust economic growth of about 5% after a strong start for the year, top economic officials said Wednesday, though they acknowledged it's a challenge. China’s exports rose about 10% in the first two months of the year from a year ... Read the Full Story |
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Stocks | | | The small group of stocks that’s been driving Wall Street to records is getting even smaller.Last year just a handful of companies were responsible for most of the U.S. stock market’s total return. It’s an exclusive enough club that they’ve come to be known as the “Magnificent Seven.” Alphabet, Amaz... Read the Full Story |
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Markets | | | Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging. The world's largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap. That's j... Read the Full Story |
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Markets | | | Asian shares were mostly higher in early Thursday trading, after Wall Street recovered some losses from the day before. Japan's benchmark Nikkei 225 momentarily reached a record high in early trading but slipped later to 39,794.13, down 0.7%. Australia's S&P/ASX 200 rose nearly 0.1% to 7,740.80.... Read the Full Story |
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The Ozempic craze continues to make headlines in the medical sector, and GLP-1 drug stocks continue to surge higher. Shares of Ozempic and Wegovy makers Novo Nordisk A/S (NYSE: NVO) are already up 20% year-to-date (YTD). Mounjaro and Zepbound maker Eli Lilly & Co. (NYSE: LLY) shares are up 34%... Read the Full Story |
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Markets | | | Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation.The flotation of the Egyptian pound, comb... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services. The Energy segment refines and markets transportation fuels in the form of gasoline and diesel fuels, as well as renewable diesel; and manufactures nitrogen fertilizers in the form of urea ammonium nitrate and ammonia. The Automotive segment sells automotive parts and materials, and retailed merchandise; offers automotive repair and maintenance services; and leases real estate properties. The Food Packaging segment produces and sells cellulosic, fibrous, and plastic casings that are used to prepare and package processed meat products. The Real Estate segment is involved in the leasing of land, retail, office, and industrial properties; the development and sale of single-family homes; and the operation of country clubs. The Home Fashion segment manufactures, sources, markets, distributes, and sells home fashion consumer products. The Pharma segment offers pharmaceutical products and services. The company was incorporated in 1987 and is headquartered in Sunny Isles Beach, Florida. | | View Today's Stock Pick |
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