Good MorningEquity markets resumed selling on Thursday, reversing the post-FOMC rally, confirming that the CPI data was a sell-the-news event triggering market rotation. The S&P 500 fell nearly 2% at the session's low, confirming resistance at a lower level, setting the market up for a deeper fall. The bad news is that selling may persist through September and into the Q3 earnings reporting season; the good news is that the market is setting up for a broader rally than we've seen recently, and it could last for years.
The hardest hit are the big tech stocks like NVIDIA and Microsoft, which have led the market for the last two years. Even the impressive results from Facebook's parent company, Meta Platforms, could not maintain the stock's upward trend. The way the market looks on the charts, the next round of selling could be vigorous and take the S&P 500 down by another 4% by the end of August. Featured: The asset beating inflation by 4x (Colonial Metals) 
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Stocks | | | Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation.The S&P 500 sank 1.8% for its first back-to-back losses of at least 1% since April. The Dow Jones Industrial Average dropped 610 points, or 1.5%, and the Nasdaq com... Read the Full Story |
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The broader stock market is causing investors a little pain to start the month of August, as the S&P 500 is declining by as much as 0.75%. The NASDAQ is lowering by over 1%, despite the Federal Reserve (the Fed) announcing that an interest rate cut is on the table for September 2024 and the CM... Read the Full Story |
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First Solar's (NASDAQ: FSLR) stock price was corrected to lower levels in early summer because of mounting concerns centered on political risk, but its operational quality continues to shine. The upcoming election threatens the solar market in several ways but nothing to offset the growing deman... Read the Full Story |
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Markets | | | Japan’s benchmark Nikkei 225 index sank 5.8% on Friday in what some reports said were the worst single-day loss since Black Monday of 1987. The drop of more than 2,000 points to its close at 35,909.70 left the index near where it was in January, erasing huge gains that had taken the Nikkei index pas... Read the Full Story |
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After softening over the past couple of weeks, there was a sense in yesterday's session that perhaps the market is ready to turn north once again. The benchmark indices all had some of their best days in recent weeks, with the S&P 500 finishing up 1.5% and the tech-heavy NASDAQ finishing up mo... Read the Full Story |
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Markets | | | Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.In a memo to staff, Intel Corp. CEO Pat Gelsinger said Thursday the company plans to save $10 billion in 2025.“Simply ... Read the Full Story |
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Markets | | | Shares fell Friday in Asia, with Japan’s Nikkei 225 index slumping nearly 4.7% before regaining some ground. The declines followed a retreat in U.S. stocks after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy’s growth. Th... Read the Full Story |
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Markets | | | Amy Lessinger, president of real estate brokerage Re/Max, talks to The Associated Press about what homebuyers and sellers can expect when new real estate industry rules aimed at creating more transparency around broker commissions take effect this month Read the Full Story |
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Mastercard (NYSE: MA) is the third largest company in the United States financial services industry, with a market capitalization of $431 billion. The firm released Q2 2024 financial results on July 31, 2024. We will review key points from the earnings release and explain the company's diverse r... Read the Full Story |
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Altria Group (NYSE: MO) is one of the world’s “Big Three” tobacco companies and is in the consumer staples sector. Let's examine the firm’s business segments and the state of the cigarette market. We'll then review its Q2 2024 earnings report and examine the company’s... Read the Full Story |
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