Good MorningEquity markets fell on Wednesday after a hotter-than-expected CPI report affirmed the growing fear there would be no interest rate cuts this summer. The CPI accelerated at the headline level and was flat at the core, hotter than forecast on all counts, indicating the Fed's work is far from over. Because the labor market data remains resilient and economic conditions healthy, the FOMC will unlikely cut rates until inflation is tamed, which could be a long way off. The cost of gasoline was a leading cause of inflation, and gasoline, along with diesel and other fuels, has a compounding influence on prices throughout the economic system.
The S&P 500 fell more than 1.3% at the session's low to set a two-week low. This is the longest and deepest pullback in the S&P 500 index, and the decline may not be over. Because the inflation outlook is heating up and the outlook for rate cuts is cooling down, the forecast for S&P 500 earnings growth in the second half is garbage. In this scenario, a reduction in the consensus forecast could undercut market action and lead the S&P 500 to a significant sell-off. Featured: The Next Bitcoin Millionaires (Paradigm Press) 
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Stocks never really stay put. Every once in a small timeframe cycle, they tend to jump and have little ‘hiccups’. These hiccups are characterized by spikes in the volatility index (the VIX), which may bring ample opportunity for traders to make a relatively quick buck but is also the s... Read the Full Story |
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Stocks | | | U.S. markets are far outpacing their global counterparts in 2024, continuing a decade-long trend of strong growth compared with the rest of the world.The S&P 500 is up 10% for the year, compared to just 4% for developed markets outside the U.S. Since 2019 the S&P has gained 48%, compared to ... Read the Full Story |
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Despite persistently high demand, rapidly improving internal economics and record profits, Delta Air Lines (NYSE: DAL) stock has struggled to gain traction. The company’s efforts are reducing debt and lowering the leverage ratio, and has it on track to regain investment-quality debt ratings.... Read the Full Story |
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Markets | | | The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business and consumers. The bank left... Read the Full Story |
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Markets | | | The U.S. housing market is just getting over the hump of a recent scare. According to data from the Intercontinental Exchange Inc., most homeowners currently hold mortgages at rates of around 3.2%, and only a few are willing to let go of this generational low financing rate.
On the buyer side, few ... Read the Full Story |
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Markets | | | As far as first quarters go, Q1 has got to be one of the greatest ever for Micron Technology, Inc. (NASDAQ: MU). The semiconductor stock had already logged a solid 2023, gaining close to 70%, but from the middle of February through the middle of last week, it went on to gain just as much a... Read the Full Story |
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WD-40 Company (NASDAQ: WDFC) is a multi-faceted investment thesis centered on growth and operational quality. The company has worked hard to invigorate growth and improve margins and made another significant step forward in Q2. Not only did the company improve operational quality compared to last ... Read the Full Story |
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Markets | | | The Swiss government Wednesday announced steps to bolster its “too big to fail” rules aimed at avoiding potentially disastrous fallout from banking sector turmoil after woes last year at Credit Suisse before it was taken over by rival UBS. Finance Minister Karin Keller-Sutter told reporters that the... Read the Full Story |
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Markets | | | Macy’s said Wednesday it has named two independent directors to its board that were pushed by activist investor Arkhouse Management, ending a proxy fight that aimed to replace most of the board and to acquire the iconic chain Read the Full Story |
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Markets | | | Delta Air Lines eked out a narrow first-quarter profit and said Wednesday that demand for travel is strong heading into the summer vacation season, with travelers seemingly unfazed by recent incidents in the industry that ranged from a panel blowing off a jetliner in flight to a tire falling off ano... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Avinger, Inc., a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) primarily in the United States and Germany. The company develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures. Its lumivascular products comprise Lightbox imaging consoles; the Ocelot and Tigereye family of devices, which are designed to allow physicians to penetrate a total blockage in an artery; and Pantheris, an image-guided atherectomy device that allows physicians to precisely remove arterial plaque in PAD patients. The company is also developing IMAGE-BTK for the treatment of PAD lesions below-the-knee. It markets and sells its products to interventional cardiologists, vascular surgeons, and interventional radiologists. The company was incorporated in 2007 and is based in Redwood City, California. | | View Today's Stock Pick |
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