Good MorningThe S&P 500 edged higher on Tuesday to set another fresh all-time high and may continue to move higher, although the risk of a price correction grows daily. The market's rise is driven by momentum and analysts' upgrades of NVIDIA, making it extended and vulnerable to a sell-off. In this scenario, the market could begin to pull back at any time, and the retreat could be sharp. The caveat for investors is that a full-blown market reversal and bear market are unlikely, so staying the course is the best option.
The S&P 500 is set up for a price correction but not a reversal, which means the next major price drop is a likely entry point for new money. The earnings outlook supports the uptrend, and it is robust. The only thing that can derail the market now is a shift in expectations, which is unlikely without a change in the fundamentals. As it is, the next change in fundamental conditions should be an interest rate cut by the FOMC, which should come by the end of the year.
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Energy | |
Insiders are buying PBF Energy (NYSE: PBF), BioCryst Pharmaceuticals (NASDAQ: BCRX), and Leggett & Platt Inc. (NYSE: LEG), setting them up to rebound. The only questions are what could catalyze their rebounds, when they will begin, and how high they might go. Based on the data, the answers are... Read the Full Story |
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From Our Partners | | Unitree's IPO grabbed headlines, but a handful of already-public robotics companies have been quietly delivering results that look nothing like hype.
One robotics-and-testing firm grew quarterly revenue from $686 million to $1.282 billion year over year and broke out above a $422.11 buy point. A warehouse robotics company exited the quarter with a $22.7 billion backlog and $2.0 billion in cash with no debt. A robotic surgery leader placed 431 systems in a single quarter. | | Get the free robotics stock report now. |
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Technology | |
Commvault Systems (NASDAQ: CVLT) share price nearly doubled in the last nine months because of its utility and appeal for business. The company is a leading data protection and recovery service focused on fighting AI-driven threats. AI-powered threats are the most insidious of cyber threats beca... Read the Full Story |
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Technology | |
Intuit (NASDAQ:INTU) is seated in the technology sector and specializes in providing tax and small-business accounting software. RBC Capital recently initiated coverage on the company, setting a price target of $760, implying a 15% upside from the current price. Lead analyst Rishi Jaluria believ... Read the Full Story |
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From Our Partners | | The Department of Justice recently argued in court that cash is not legally property, raising new questions for savers as federal debt continues to climb.
Your IRA, 401k, and bank accounts are not hidden from view, prompting some Americans to look for ways to keep more control over their own wealth.
A free information kit outlines three strategies people are considering to help shield their savings from future policy changes. | | Get the free information kit and explore savings strategies now |
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Consumer Discretionary | |
Many misconceptions about the stock market exist and are constantly growing. These are particularly abundant when the market is coming off of a low interest rate cycle, where easy money and a risk-on mentality can seriously blur investor filters when looking for a stock to justify an investment. T... Read the Full Story |
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Communication Services | |
PDD Holdings Inc. (NASDAQ: PDD) is a Chinese e-commerce company that mainly operates two popular online businesses. The core business is the social commerce company Pinduoduo. Temu is their second business, an online store known for selling heavily discounted products sourced directly from manufac... Read the Full Story |
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From Our Partners | | Nearly 2 in 3 Americans fear running out of money more than death - and chasing a $1.5 million nest egg isn't helping.
Tim Plaehn has spent decades helping people build retirement income, and he says the monthly income goal is the only number that matters. His approach could potentially reach that goal with 10x less capital - using a single stock you can buy with one click. | | Watch the short presentation to see how this retirement income strategy works |
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Technology | |
Using stock options can help manage risk, providing you with different ways to trade an underlying stock in the direction you believe it will go. Most of the options spread strategies we’ve covered have been vertical spreads. Vertical spreads involve the two option legs, comprised of a long ... Read the Full Story |
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Industrials | |
The Greenbrier Companies (NYSE: GBX) stock is returning to the buy zone. The business is boring, and the Q3 release is uninspiring, but neither are reasons for income investors to shed the stock. The results certainly aren’t reasons for its price to drop more than 10%, which is why the stock... Read the Full Story |
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Healthcare | |
Global pharmaceutical company Eli Lilly & Co. (NYSE: LLY) has been in a GLP-1 arms race with its FDA-approved therapies Mounjaro and Zepbound. It's been going heads-up against GLP-1 leader Novo Nordisk A/S (NYSE: NVO), best known for Ozempic and Wegovy.
By all accounts, Eli Lilly's Tirzepat... Read the Full Story |
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Consumer Discretionary | |
The market’s attention is now shifting from the hype surrounding artificial intelligence-related stocks like NVIDIA Co. (NASDAQ: NVDA) and shortly in so-called ‘meme stocks’ like GameStop Corp. (NYSE: GME) to the fact that the Federal Reserve (the Fed) is now promising interest r... Read the Full Story |
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Technology | |
Most of the market’s attention has floated to the technology sector today, focused on the companies most exposed to developments around artificial intelligence and its expanding adoption in the global economy. As more and more services and platforms adopt artificial intelligence, the situati... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits. It also provides trust and wealth services, such as personal trusts, custodial accounts, investment management accounts, and retirement accounts, as well as corporate trust services, including trustee, paying agent and registered transfer agent services, and other related services. In addition, the company offers treasury management services comprising automated clearing house, wire transfer, transaction reporting, wholesale lockbox, remote deposit capture, automated credit line transfer, reconciliation, positive pay, commercial card, and other services, as well as zero balance and investment sweep accounts. Further, it provides real estate, consumer, small business, indirect recreational vehicle and marine, equipment, agricultural, commercial and industrial, government guaranteed, lines of credit, homebuilder, and affordable housing loans; lender and structured, business aviation, and subscription financing services; and mortgage and other lending products. Additionally, the company offers ATMs; telephone, online, and mobile banking services; credit and debit cards; safe deposit boxes; and other products and services. The company was formerly known as Bank of the Ozarks and changed its name to Bank OZK in July 2018. Bank OZK was founded in 1903 and is headquartered in Little Rock, Arkansas. | | View Today's Stock Pick |
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