Good MorningEquity markets pulled back from the recent high following the FOMC minutes. The minutes showed that the Fed was worried about the lack of progress on inflation and was ready to hike rates again if necessary. The tone contradicts what the market expected, reducing the odds of a rate cut this year. Without an appreciable improvement in the pace of inflation, the FOMC may have no choice but to keep policy tight if it does not raise rates again.
The market's reaction to the news was light, considering the impact on the economic outlook. The S&P 500's move lower shed less than 1% at the session's low and showed some support at the short-term moving average. Support is due to hopes for earnings growth centered on NVIDIA. NVIDIA is expected to post another blowout quarter driven by AI demand and send its and other AI-centric tech stocks to new highs. Featured: Everyone’s watching Nvidia right now. Here’s why I’m excited. (Ad) 
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Every once in a while, the market's volatility index (the VIX) goes to an extreme. Whether to the upside or downside, these significant swings bring about massive opportunities for investors who know how to ride the market's volatility cycle. Today, the VIX sits between 11.5% and 13.0%, levels not... Read the Full Story |
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NVIDIA (NASDAQ: NVDA) produced another beat-and-raise quarter that says one thing: as much hype as there is about the AI industry, the market grossly underestimated the impact and importance of NVIDIA semiconductors. The company’s results are so above the consensus estimate they are mind-bog... Read the Full Story |
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Global-e Online (NASDAQ: GLBE) is succeeding because it offers three things merchants need in one place: eCommerce, direct-to-consumer access, and international expansion. eCommerce is entrenched in our lives and a requirement for any business today. International expansion, specifically cross-bor... Read the Full Story |
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Markets | | | Asian markets were mixed in cautious trading on Wednesday, with most of the regions’ benchmarks climbing after U.S. stocks hit new record highs. U.S. futures rose while oil prices slipped. Tokyo’s Nikkei 225 fell 0.6% to 38,719.35 after Japan reported that its trade deficit rose last month as rising... Read the Full Story |
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Analog Devices (NASDAQ: ADI) share prices are surging because a trough is in place, and the outlook is robust. The FQ2 results and guidance for FQ3 aren't robust but show markets stronger than expected, and AI supports the pivot back to growth. End-market inventory normalization is expected for se... Read the Full Story |
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TJX Companies (NYSE: TJX) industry-leading position in off-price retail and quality operations will soon lead its stock price to new heights. Like Walmart (NYSE: WMT), TJX Companies benefits from the high inflation and interest rate environment because shoppers are still flush but turning more to ... Read the Full Story |
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Tech | | | Nvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chipmaking dominance that has made the company an icon of the artificial intelligence boom.Its net income rose more than sevenfold compared to a year earlier, jumping to $14.88 billion in its first quarter... Read the Full Story |
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Markets | | | Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier.At the top of the agenda as finance officials fr... Read the Full Story |
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Markets | | | With college sports on the verge of sweeping change that could have long-term financial implications, two private investment firms have created a platform to help athletic departments find funding.RedBird Capital and Weatherford Capital announced Wednesday the creation of Collegiate Athletic Solutio... Read the Full Story |
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Markets | | | Macy's sales and profits fell during the first quarter as higher costs and other financial challenges had customers pulling back on spending.Yet the quarterly results Tuesday beat Wall Street expectations. And Macy's, which also operates upscale Bloomingdale's and beauty chain Bluemercury, said it i... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Fortress Biotech, Inc., a biopharmaceutical company, develops dermatology, pharmaceutical, and biotechnology products in the United States. The company markets dermatology products, such as Qbrexza a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane capsules for severe recalcitrant nodular acne; Amzeeq for severe acne vulgaris; Zilxi, a topical foam; Exelderm cream and solution for topical use; Targadox an oral doxycycline drug for adjunctive therapy for severe acne; Luxamend; sulconazole nitrate cream and solution for tinea cruris and tinea corporis; and doxycycline hyclate tablet. It also develops late stage product candidates, such as intravenous Tramadol for the treatment of post-operative acute pain; CUTX-101, an injection for the treatment of Menkes disease; Cosibelimab for metastatic cancers; Olafertinib for the treatment of patients with EGFR mutation-positive NSCLC; CAEL-101 for the treatment of amyloid light chain amyloidosis; Triplex vaccine for cytomegalovirus; and DFD-29 for the treatment of rosacea. The company's early stage product candidates include Dotinurad for gout; MB-106 for B-cell non-hodgkin lymphoma; MB-101 for glioblastoma; MB-108 for recurrent GBM; MB-109 for refractory glioblastoma; AJ201, an androgen receptor degradation enhancer; BAER-101, a positive allosteric modulator; MB-117 for newly diagnosed x-linked severe combined immunodeficiency; and MB217 for previously transplanted; and MB-110 for RAG1 severe combined immunodeficiency. Its preclinical product candidates comprise Mayo Clinic In Vivo CAR T Platform Technology; AAV-ATP7A gene therapy; AVTS-001 gene therapy; CK-103 BET inhibitor; CEVA-D and CEVA-102; CK-302, an anti-GITR; CK-303, an anti-CAIX; and oligonucleotide platform. The company was formerly known as Coronado Biosciences, Inc. and changed its name to Fortress Biotech, Inc. in April 2015. Fortress Biotech, Inc. was incorporated in 2006 and is based in Bay Harbor Islands, Florida. | | View Today's Stock Pick |
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