Good MorningEquity markets sold off on Tuesday, extending the weakness seen on Monday. The 2nd quarter is starting on shaky footing due to receding expectations for FOMC rate cuts this summer, and more bad news came out during the session. Oil prices rose 1% to set another fresh high to underpin inflation, while the Fed's Mester ruled out a cut in May. She still thinks a cut will come this year but is uncertain of the timing and needs more data. The news that caught the market's attention was her long-term outlook for long-term rates, which was increased. In her view, the target rate is likely near 3.0% a full 100% basis points above the market's expectations.
The yield on the ten-year treasury advanced to a new six-week high on the news, and the S&P 500 fell. The broad market fell more than 1.0% at the session's low, marking the largest one-day decline in weeks. The VIX spiked in tandem, signaling a more significant correction could come. If the market can not regain footing by the end of the week, a move to firmer support levels is likely. The next catalyst is the labor market data which begins coming out today. Featured: Sell these "safe" blue chips immediately (Ad) 
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Healthcare | |
GLP-1 (Semaglutide) drugs like Ozempic and Wegovy produced by Novo Nordisk A/S (NYSE: NVO) and Mounjaro and Zepbound (Tirzepatide) produced by Eli Lilly and Co. (NYSE: LLY) have taken the mainstream by storm. These drugs have transformed the medical sector. The Oprah Winfrey special, "Shame, Blame... Read the Full Story |
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From Our Partners | | Porter Stansberry nearly canceled the entire project. When he first saw the claimed returns - only one down year in nearly two decades and total gains of almost 2,000% - his immediate reaction was disbelief.
It took a trusted friend's personal vouching for Emmet Savage and a face-to-face trip to Ireland to change his mind. The full documentary, Investigating Project Prophet, is now live. | | Watch the full story and see the verified track record for yourself |
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Technology | |
Snowflake Inc. (NYSE: SNOW) is a cloud-native data warehouser in the computer and technology sector, offering companies cloud-based data platform-as-a-service (PaaS) solutions. Snowflake's shares collapsed over 20% on its fiscal Q4 2024 earnings release. Despite beating consensus estimates, it del... Read the Full Story |
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Healthcare | |
The popular iShares Biotechnology ETF (NASDAQ: IBB) has formed a bullish consolidation in the upper portion of its 52-week range, hinting at a significant sector-wide breakout.
The bullish formation comes at a time when technology, and specifically semiconductor stocks, have continued to outpace... Read the Full Story |
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From Our Partners | | Moderna's stock doubled in a single day after its cancer vaccine hit key Phase 3 goals, and Merck jumped too. But according to a former Steve Cohen fund manager, the next big opportunity is not Moderna or Merck.
It is a different kind of company tied to a technology already backed by Elon Musk, Sam Altman, Jeff Bezos, and Peter Thiel. Nvidia's Jensen Huang says it will have a dramatic impact on daily life, while Anthropic's CEO believes it could unlock a century of medical progress in just ten years.
Nature Magazine estimates its potential value at $367 trillion globally, and it is already rolling out across the United States. | | Click here to learn about this new era of medical technology |
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Industrials | |
The global economy is taking a turn this quarter, with the United States and China leading the way. After reporting a year of consecutive contraction, the U.S. manufacturing sector has finally pushed out its first expansionary reading during March 2024.
Both professional and retail investors foll... Read the Full Story |
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Markets | |
Every cycle brings new opportunities; now that the Federal Reserve (the Fed) is looking to cut interest rates in 2024, the market could be getting ready to shift in a new direction. Banking stocks could be the first to move, as they are tied to the financial pulse of the economy.
Not all bank sto... Read the Full Story |
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From Our Partners | | Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying out up to $1,152 a month to regular investors - no mining stocks, no options, no physical metal required.
Chief Income Strategist Tim Plaehn calls it a breakthrough strategy that transforms gold's rally into reliable monthly payouts. The next distribution is just days away. | | Discover the gold income fund before the next payout date |
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Consumer Discretionary | |
PVH’s (NYSE: PVH) quality operations, cash flow, and capital returns make the 25% discount on share prices an opportune time to buy the stock. The cause of the price implosion is the guidance, which came in below the analysts' consensus estimates. However, as weak as the guidance is compared... Read the Full Story |
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Consumer Discretionary | |
Shares of Tesla, Inc. (NASDAQ: TSLA) stock dropped nearly 6% in the pre-market after the electric vehicle (EV) giant reported lighter-than-expected delivery numbers for the first quarter. Tesla manufactured 433,000 vehicles but delivered only 387,000. The delivery miss will continue to fuel specul... Read the Full Story |
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Industrials | |
Paychex, Inc.’s (NASDAQ: PAYX) stock price is falling into a buying opportunity that retirement-oriented income investors should heed. The only trouble with the Q3 results and guidance is that they failed to exceed expectations, and the stock valuation was high. Trading at roughly 25X earnin... Read the Full Story |
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Markets | |
Canoo, Inc. (NASDAQ: GOEV) analysts were bullish on the stock ahead of the Q4 earnings report, but that situation will likely change. The company issued a going concern notice that raises serious doubt about the company’s ability to continue, and the danger is real. The company forecasts los... Read the Full Story |
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Consumer Discretionary | |
The Children's Place Inc. (NASDAQ: PLCE) stock has had a wild ride in 2024. Shares surged from a swing low of $8.30 on Feb. 9, 2024 to a swing high of $38.03 on Feb. 15, 2024. Since the swing high, shares have cascaded down to $11.54 on funding and bankruptcy concerns as the company breached debt ... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day BRP Inc., together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems. The Marine segment provides Alumacraft, Manitou, Quintrex, Stacer, and Yellowfin boats; Rotax engines for jet boats; and Rotax S outboard engine. The company was formerly known as J.A. Bombardier (J.A.B.) Inc. and changed its name to BRP Inc. in April 2013. BRP Inc. was founded in 1937 and is headquartered in Valcourt, Canada. | | View Today's Stock Pick |
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