Good MorningA better-than-expected Retail Sales report helped the S&P 500 advance on Tuesday. However, the 0.0% monthly gain and 2.3% YOY comparison are tepid, casting a shadow of doubt on economic strength. At 2.3%, the increase in retail sales is insufficient to offset inflation, which means the volume of activity is contracting. In this environment, there is only so high that the S&P 500 can go before it contracts.
The S&P 500 is overextended at these levels and needs a healthy correction. The question is how much hang time the index will have at this peak and how deep the correction might be when it comes. Assuming no change in the news flow, the odds are high that the correction will be short and quickly lead to the next buying opportunity for index investors.
The trigger for the correction may be the July FOMC meeting in two weeks. The FOMC is not expected to cut rates at this meeting but is expected to signal the possibility of cuts coming soon. The CME FedWatch Tool shows the market pricing in a 100% chance for a rate cut in September. The risk for the S&P 500 is that interest rate cuts are already priced into the market, and the FOMC meeting will become a sell-the-news event. Featured: Sell these "safe" blue chips immediately (Ad) 
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Industrials | |
The race for air taxis is taking off. These machines are technically called electric vertical take-off and landing (eVTOL) aircraft. What was once just a science fiction fantasy is gaining momentum towards becoming a regulated reality. Archer Aviation Inc. (NYSE: ACHR) is a leading company that ... 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 | |
Broadcom Inc. (NASDAQ: AVGO), a global technology powerhouse specializing in semiconductor and infrastructure software solutions, recently announced a 10-for-1 forward stock split, effective July 12, 2024. This move has sparked renewed interest in Broadcom’s stock, leading many investors a... Read the Full Story |
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Markets | |
Earnings season is here again, and kicking it off are financial stocks like the commercial and investment banks that most people avoid due to their complex business models. However, as these banking stocks start to report their quarterly figures, investors can get a feel for how the sector is doin... 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 Discretionary | |
Amazon.com, Inc. (NASDAQ: AMZN) is a global e-commerce and cloud computing powerhouse. Its continued dominance is evident in its impressive financial performance and robust track record of growth. The Prime Day event, a significant sales driver, has sparked a renewed interest in Amazon's stock p... Read the Full Story |
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Technology | |
Typically, cryptocurrency-related stocks aren’t the first ones that come to mind for investors looking to diversify their portfolios and align themselves with the best potential upside in the coming months. However, outperforming the market involves recognizing shifts and making adjustments ... 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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Finance | |
When the so-called ‘masters of the universe’ give investors an inside look into their operations, this usually merits attention because these insights could be the difference between a market-beating year and a market-lagger one. Today, BlackRock Inc. (NYSE: BLK) has released its secon... Read the Full Story |
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Markets | |
Fastenal’s (NASDAQ: FAST) stock price has been on the rise since it reported earnings on Friday, July 15, 2024. The industrial company’s shares have been up 5.7% since then. This is after the company reported adjusted earnings per share (EPS) that met analysts' expectations and reven... Read the Full Story |
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Technology | |
Back in April, we flagged the massive entry opportunity in shares of Apple Inc. (NASDAQ: AAPL). By then, the tech titan had failed to get off the line in 2024 while the main indexes were cruising through high after high. For example, the benchmark S&P 500 Index had gained 11% since the first... Read the Full Story |
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Industrials | |
While solar energy solutions provider SolarEdge Technologies Inc. (NASDAQ: SEDG) shares have recently rallied off their 52-week lows, they are still trading down 66% year-to-date (YTD). Aside from a tough macroeconomic environment, high interest rates, and the bankruptcy of a large customer, the... Read the Full Story |
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Wednesday'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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The casino industry has been in positive ...