Good MorningThe equity market continued to grind higher on Thursday. The S&P 500 advanced half a percent and is now a striking distance of an all-time high. The all-time is about 60 S&P points above Thursday's close, about 1%, and could be reached in a single session. The question is, if it will, what will happen then? Will the market continue to set new highs over the summer, or will sell-in-May-and-go-away grip the market?
Friday's action may take the market to a new high because of a wait-and-see attitude regarding selling. The next big hurdles for the market will come next week when retailers like Home Depot and Walmart release earnings; and on Wednesday with the release of the CPI index. The CPI is not expected to show a significant slowdown in inflation and will keep the FOMC from altering course. This means the first rate cut will come in late summer, if at all.
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Communication Services | |
There were high hopes for Roblox (NYSE: RBLX) going into the Q1 release, and they were shattered on the rocks of reality. The reality is that the metaverse, as neat as it sounds, just isn’t producing the accelerating growth that market participants had come to expect. The last report, Q4 202... Read the Full Story |
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Consumer Discretionary | |
First-quarter earnings are arguably the most important reports for any stock to release, as they set the tone for the rest of the year and give investors insight into their current—and potential—holdings. After reporting its own set of first-quarter 2024 results, shares of Airbnb Inc. ... Read the Full Story |
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Industrials | |
On a day when the broader market managed to finish flat, if not slightly up, shares of Uber Technologies, Inc. (NYSE: UBER) dropped more than 5%. It could have been worse, with the ride-sharing Company's stock trading down almost 10% at one point before a late rally.
The catalyst for the drop wa... Read the Full Story |
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Technology | |
After popping more than 100% after their last earnings report in February, expectations would have been high for shares of Arm Holdings plc (NASDAQ: ARM) to continue rallying into the summer. The UK-headquartered semiconductor and chip software company was riding high off the back of a red-hot IPO... Read the Full Story |
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Communication Services | |
Earnings season always comes with its share of large stock price moves that exceed 10%. Typically, a stock that beats top and bottom line estimates and raises its forward guidance tends to gap up and vice versa gap down when it lowers its forward guidance. Of course, the market can also be irratio... Read the Full Story |
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Technology | |
After reporting its first quarter 2024 earnings results, arguably the most important set of results as they set the tone for the rest of the year in any stock, shares of Shopify Inc. (NYSE: SHOP) are plummeting by as much as 20% during the trading session. However, investors could see that this is... Read the Full Story |
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Technology | |
Cloudflare (NYSE: NET) is a great company growing its business and building leverage. However, despite the massive decline in the share price, the stock remains overvalued and faces headwinds that investors may want to avoid. The valuation alone is enough to keep the stock from moving higher. Trad... Read the Full Story |
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Communication Services | | Electronic Arts (NASDAQ: EA) is a titan in the interactive entertainment sector and commands a top position within the video game industry subsector. EA's diverse portfolio of high-quality game franchises captivates millions of players worldwide.
Electronic Arts’ earnings report for the fourt... Read the Full Story |
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Industrials | |
The U.S. stock market could now be at a pivotal point, which some may call a top. After potentially pricing in the proposed Federal Reserve’s (the Fed’s) interest rate cuts, the broader market indexes could be set up for a major disappointment. Stubborn inflation rates have postponed t... Read the Full Story |
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Materials | | Evidence is mounting to support a bullish outlook for the agricultural sector. A closer look reveals that shares of FMC Co. (NYSE: FMC) could become one of the most attractive options within the primary industries supporting the new wave of agricultural demand. After reporting its first quarter 2024... Read the Full Story |
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Friday's Early Bird Stock Of The Day GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions. The company was incorporated in 2023 and is based in Cambridge, Massachusetts. | | View Today's Stock Pick |
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