Good MorningThe S&P 500 set another new all-time high after the CPI report confirmed that inflation is cooling. The bad news is that the new highs weren't held, resistance was confirmed, and the risk of a price correction was high because the index is overextended, diverging from its indicators, and overbought. The takeaway for investors is that the uptrend is intact, and a correction is needed to alleviate overbought conditions. It will be the next good buying opportunity to load up on quality stocks.
This week will be busy. The Q2 earnings season started last week with the reporting of most big banks. This week, banking reports will continue and be compounded by a broader array. Critical economic reports, including the June Retail Sales figure, are also due. Retail sales are expected to be flat compared to last month, showing signs of a consumer slowdown that may bleed into the broader economic outlook and sap appetite for risk on investments. Featured: Sell these "safe" blue chips immediately (Ad) 
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Healthcare | |
Shares of IDEAYA Biosciences Inc. (NASDAQ: IDYA) are up more than 16% after announcing positive treatment data for its Phase 2 clinical trial. The company’s pipeline candidate, IDE397, is an experimental drug designed to treat certain bladder and small-cell lung cancers. At one point, IDYA... 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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Industrials | |
The defense industry stands as a cornerstone of global security, and its importance continues to grow with rising geopolitical complexities. As governments worldwide prioritize national defense and allocate significant budgets to bolster military capabilities, the defense sector presents multiple ... Read the Full Story |
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Finance | |
The second quarter of the 2024 earnings season has just kicked off, and the financial sector is again under the spotlight. Bank stocks are leading the pack in letting markets know how the economy is doing so far into the year's second half. However, not all bank stocks are made equal. There are ty... 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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Consumer Staples | |
As temperatures rise and consumers seek refreshment, the beverage industry and consumer staples sector gears up for its busiest season. Summer often brings increased sales and heightened investor interest in beverage stocks. The "Summer Beverage Wars" are heating up this year, with three key playe... Read the Full Story |
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Consumer Discretionary | |
Most investors would look at consumer staples stocks for protection against the whipsaws that the market can bring during cycles. While this theory tends to work over time and has worked over time, it is a widely accepted model. However, markets aren’t a simple model. They are dynamic, and e... 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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Communication Services | |
Reddit, Inc. (NYSE: RDDT) has been on an impressive run, recently achieving a new all-time high and up almost 40% YTD. The question now is whether this momentum and sector outperformance can continue after the stock pulled back nearly 10% from its recent highs and has a growing short interest.
... Read the Full Story |
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Finance | |
JPMorgan Chase & Co. (NYSE: JPM) shows a Rising Wedge Pattern. Like all technical patterns, it is never 100% correct but often signals a bearish reversal in the underlying market. A rising wedge occurs at the end of an uptrend and consists of two rising but converging trend lines that end at... Read the Full Story |
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Consumer Staples | |
PepsiCo (NASDAQ: PEP) is one of the world's most well-known consumer staples companies. The firm reported Q2 2024 financial results on Jun. 11, 2024. Let’s first understand Pepsi’s operations and then compare these results to estimates. We’ll then examine the market reaction and ... Read the Full Story |
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Markets | | Have you ever been to a restaurant where every item looked delicious and wished you could simply order the entire menu? Your stomach (and wallet) would likely limit your progress, but sometimes, choosing one item from an appealing list is difficult. Investors used to have a similar problem: with so ... Read the Full Story |
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Industrials | |
The housing market has faced headwinds in recent times, primarily due to the impact of rising interest rates. This surge in borrowing costs has slowed down homebuying activity, leading to a decline in homebuilder stock prices. However, recent economic indicators suggest a potential shift in the ma... Read the Full Story |
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Monday'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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