Good MorningThe sell-off in equity markets deepened on Thursday. The broad market S&P 500 shed roughly 0.8%, led by big tech companies like Apple. Apple shed more than 2% at the day's low and could shed another 1% to 3% before hitting a solid support level. However, stock market corrections are a necessary function of equity markets, often leading to buying opportunities within bull markets, as this one is likely to do. Because the outlook for earnings is robust, this correction is likely to be short-lived and lead to higher index prices later in the year.
Thursday's economic data aligns with the outlook for higher index prices. Housing starts, permits, industrial production, and capacity utilization were all better than expected and suggest stable, if not growing, economic activity. Aside from earnings season, which is ramping into high gear, the next major hurdle for the market is the PCE price index at the end of the month. If it aligns with the CPI data, the market is sure to regain its footing and begin the next march higher. Featured: The worst days of the year to buy Tesla (Ad) 
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As the global economy becomes more digitized by the day, business and customer data are kept in what’s now the most common term in the technology sector: The Cloud. Companies rely on cloud computing services and artificial intelligence to make the vast databases they can access work for them... Read the Full Story |
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From Our Partners | | A new technology has sparked a modern-day gold rush in Silicon Valley. OpenAI’s Sam Altman invested $375M. Bill Gates has backed four companies in this space. The World Economic Forum calls it “the most exciting human discovery since fire.”
Whitney Tilson believes this trend could mint a new class of wealthy investors—and he’s sharing one stock to watch now, for free. | | Gates and Altman are betting big—see why |
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Stocks | | | U.S. stocks slumped Friday in another washout, as businesses around the world scrambled to contain the effects of a disruptive technology outage.The S&P 500 fell 0.7% to close its first losing week in the last three and its worst since April. The Dow Jones Industrial Average dropped 377 points, ... Read the Full Story |
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Cintas Corporation’s (NASDAQ: CTAS) Q4 results and guidance prove its parabolic share price movement can continue. The results continue a trend that includes organic and acquisitional growth, widening margins, robust cash flow, and capital returns. The trend has the stock price up more tha... Read the Full Story |
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From Our Partners | | Bitcoin just broke $120,000 — exactly as crypto expert Juan Villaverde predicted.
Now, he’s calling for $150K and says we’re entering the biggest crypto bull market in history. But while Bitcoin could double, Juan believes one overlooked coin could surge even more. | | See the coin Juan believes could beat Bitcoin’s next move |
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Abbott Laboratories (NYSE: ABT) is a premier buy-and-hold stock because of its foresightful management, quality operation, portfolio, pipeline, cash flow, and capital return. It’s not always a good buy; all healthcare stocks have ups and downs in their cycles, but Abbott is a buy today... Read the Full Story |
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Kinder Morgan (NYSE: KMI) has what it takes to deliver attractive value to investors. It is a steady energy business supported by rising demand with stable, visible cash flows that allow it to pay a substantial dividend. The payout is worth nearly 5.5% annually and is sustainable, as is annualiz... Read the Full Story |
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From Our Partners | | Why Elon Musk Just Invested $51 Million Into Brand New “Miracle Metal” Developed by MIT Scientists | | [See The Details Here] |
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Markets | | | The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again Read the Full Story |
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Markets | | | China’s ruling Communist Party wrapped up a top-level meeting on Thursday by endorsing policies aimed at advancing the country’s technological power and fortifying its national security. A statement released when the four-day meeting ended provided only a broad-brush summary. More details are likely... Read the Full Story |
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Markets | | | Sales of U.S. homes to foreign nationals have fallen to the lowest level in more than a decade, hampered by a strong dollar and many of the hurdles that have kept the housing market in a deep sales slump for over two years Read the Full Story |
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Markets | | | United Airlines on Wednesday reported that its second-quarter profit rose 23% to $1.32 billion, as record crowds at U.S. airports helped the carrier overcome sharply rising costs for fuel and labor.However, United warned that third-quarter results will fall short of Wall Street expectations because ... Read the Full Story |
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Markets | | | Risk tolerance and risk appetite may sound like different ways to describe the same thing, but they’re actually very distinct measurements. Risk tolerance ensures that you do not take on more risk than you can emotionally handle, preventing stress and impulsive decisions, while risk appetite h... Read the Full Story |
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Friday's Early Bird Stock Of The Day Eliem Therapeutics, Inc., a biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. The company was incorporated in 2018 and is headquartered in Wilmington, Delaware. | | View Today's Stock Pick |
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