Good MorningVolatility in equity markets continues, with the S&P 500 rebounding by more than 2.25% on Thursday. The move is driven by news of better-than-expected earnings from Eli Lilly and Datadog, which points to strength in the obesity drug and cyber-security markets. The caution is that sector rotation is still in play and may not allow volatility to subside soon. A downswing will likely meet each upward swing in the index until late summer or early fall.
The market has three hurdles next week: the CPI report, retail sales, and the start of retail earnings. The hope is for the CPI to subside in alignment with trends, leading the FOMC to cut rates, but not so quickly that it raises fear of recession. Retail sales need to be solid; otherwise, weakness may amplify the fear of a recession, as could result from retailers. The two reports of note are Home Depot and Walmart, the most closely watched retailers on the market. Featured: The Robotics Revolution has arrived (Ad) 
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Stocks | | | U.S. stocks rallied Thursday in Wall Street’s latest sharp swerve after a better-than-expected report on unemployment eased worries about the slowing economy.The S&P 500 jumped 2.3% for its best day since 2022 and shaved off all but 0.5% of its loss from what was a brutal start to the week. The... Read the Full Story |
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Stocks | | | After a manic week that began with Japanese stocks falling to their worst loss since 1987's Black Monday, only for U.S. stocks to soar later to their best day since 2022, slight gains on Friday carried Wall Street almost exactly back to where it began the week. The S&P 500 rose 0.5% to shave wha... Read the Full Story |
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A quarterly earnings beat hasn’t been enough to reverse the slide in Owens Corning (NYSE: OC) stock. In mid-morning trading the day after the maker of builder and construction materials delivered its second quarter earnings the stock is down just over 10% for the week.
Undoubtedly mu... Read the Full Story |
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Obesity drugmakers like Eli Lilly (NYSE: LLY) and Novo Nordisk (NYSE: NVO) were not immune to the broad market sell-off sparked by the June CPI report, but investors looking to get into these names should be cheering. The stocks are down 20% or more from their highs, offering big discounts and the... Read the Full Story |
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Fortinet (NASDAQ: FTNT) stock surged more than 25% following its Q2 release because it reached an inflection point. The company's lean into unified SASE and Security Ops resonates with businesses, providing a simpler approach to cloud-based cybersecurity. It is developing into a market leader, a... Read the Full Story |
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Datadog (NASDAQ: DDOG) is a leading provider of observability and security solutions for cloud applications. Datadog’s earnings report for the second quarter of 2024 has once again impressed Datadog’s analyst community by demonstrating the company’s strong market position. Datado... Read the Full Story |
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Markets | | | Analysts expressed shock Thursday at a decision by Mexico’s central bank to cut interest rates on the same day that official figures showed a sharp rise in domestic inflation. Almost without exception, central banks raise interest rates to make money more expensive, in order to discourage price incr... Read the Full Story |
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Markets | | | Eli Lilly blew past second-quarter expectations with the diabetes treatment Mounjaro and its weight loss counterpart Zepbound funneling more than $4 billion in sales to the drugmaker.Lilly also hiked its forecast for the year well beyond Wall Street expectations as newer drugs like Zepbound built mo... Read the Full Story |
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Duke Energy (NYSE: DUK) is in the utilities sector and is the third-largest electric utility company in the United States and Canada by market capitalization. The firm has outperformed its sector and the market in 2024, with a total return of 19%. The Utilities Select Sector SPDR Fund (NYSEARCA:... Read the Full Story |
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Markets | | | The recent rupture of a crucial oil pipeline has sent fresh pain through the economy of South Sudan, where even the security forces haven't been paid in nine months. Some soldiers and civil servants are turning to side hustles or abandoning their jobs.South Sudan's economy largely depends on the oil... Read the Full Story |
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Friday's Early Bird Stock Of The Day P.A.M. Transportation Services, Inc., through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units. The company also provides brokerage and logistics services. As of December 31, 2023, it operated a fleet of 2,200 trucks, which included 300 independent contractor trucks; and 8,567 trailers. The company was founded in 1980 and is headquartered in Tontitown, Arkansas. | | View Today's Stock Pick |
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