Good MorningEquities reversed Wednesday’s losses, with the Dow and the S&P 500 both flirting with record highs. However, it was the Russell 2000 that posted the largest percentage gain, signaling that investors may have a more “risk on” appetite.
A key catalyst for the latest rally came from Micron, which reported strong demand for its memory chips ahead of its earnings. In fact, the entire chip sector moved higher on the news.
Investors also cheered the final reading on the second-quarter GDP, which came in as expected. Sentiment for Chinese stocks has also been rising since the Chinese government’s aggressive stimulus efforts.
But investors still need to watch for volatility. Micron has given investors high expectations. Any wobble in its earnings report, which came after the market closed, may become a sell-the-news event. Plus, investors will get the latest reading on the PCE index before the market opens tomorrow.
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Markets | |
The Federal Reserve launched the first of several expected interest rate cuts in its September meeting, making a larger-than-anticipated half-percentage-point reduction. The real estate market, plagued by issues including insufficient supply relative to surging demand and mortgage rates that have ... Read the Full Story |
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From Our Partners | | Bill Poulos's report, The Trading For Income System, normally sells for $29.97. Today, it's free through this link.
The guide reveals a different approach to trading, one where you get paid upfront the moment a trade is placed, explained in plain English with no complicated math.
This free-access link won't stay up forever, so now's the time to take a look. | | Download your free copy before it reverts to $29.97 |
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Industrials | |
Rocket Lab USA Inc. (NASDAQ: RKLB) shareholders recently saw RKLB stock hit a new 52-week high of $8.98 per share. As of this writing, it’s pulled back a little to $8.69 per share but is still one of the best-performing stocks in 2024 and over the last 12 months. Many analysts believe that R... Read the Full Story |
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Consumer Discretionary | |
The economy typically has three leading industries that investors can watch closely when trying to figure out the potential future of the stock market. Of course, consumer discretionary is a big part of this mix, as the United States economy is increasingly made up of consumer trends and debt. Fol... Read the Full Story |
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From Our Partners | | Jeff Brown, the former tech executive who called the rise of Bitcoin, Tesla, and Nvidia years early, is tracking a new Elon Musk project he calls the most epic AI initiative in history.
The plan could give Musk access to 50 times more computing power than the rest of the world combined, a development Brown says is drawing attention from executives at Amazon, Microsoft, and Google.
Brown compares the scale of this project to the SpaceX IPO, which minted thousands of millionaires overnight. | | Click here to see the full details on Musk's next big move |
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Technology | |
Micron Technology, Inc. (NASDAQ: MU) proved the doubters and analysts wrong with a Babe Ruth-style homerun earnings report that saw revenues nearly double YoY driven by the artificial intelligence (AI) boom. The irony is that at least three analysts downgraded, trimmed estimates or lowered price... Read the Full Story |
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Consumer Discretionary | |
Even though the Chinese stock market has been scrutinized extensively in the past couple of years, some investors have begun to realize that there is much more upside than apparent risk for Asia’s powerhouse. China’s technology sector has the lowest valuation in history compared to its... Read the Full Story |
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From Our Partners | | Marc Chaikin, a 60-year Wall Street veteran, built a hypothetical basket of five AI stocks that averaged 137.3% gains in under a year.
His system previously flagged bullish signals on Nvidia before it rose 864%, Super Micro Computer before it surged 2,346%, Vertiv before climbing 611%, and AppLovin before gaining 539%.
Now he's unveiling a new project called the 401ai, aimed at identifying tomorrow's top AI performers early. | | Watch Marc Chaikin's 401ai video and see his next AI picks |
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Consumer Discretionary | |
Nike (NYSE: NKE) just announced that its current CEO has retired, and it’s bringing in a long-time employee to take the helm. Elliott Hill will become Nike's CEO on Oct. 14. He hopes to be the new face the company needs to turn its fortunes around.
I’ll detail Nike's history with lame... Read the Full Story |
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Technology | |
Rubrik Inc. (NYSE: RBRK) is a leading cybersecurity company specializing in data protection and recovery, and it is quickly becoming a key player in the rapidly expanding cybersecurity sector. Since its initial public offering (IPO) in April, Rubrik has demonstrated strong financial performance, h... Read the Full Story |
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Utilities | |
Constellation Energy (NASDAQ: CEG) has been amongst the hottest stocks in the market in 2024, with its shares up 125%. Those aren’t the types of returns people usually associate with utility companies in such a short period of time. However, when a company is connected to the AI revolution... Read the Full Story |
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Technology | |
Not too long ago, crypto-related stocks generated buzz as Bitcoin surged to new heights. These stocks gained significant popularity due to the excitement surrounding digital currencies and media attention. However, in recent times, crypto stocks have become less of a focus, even as Bitcoin hovers ... Read the Full Story |
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Markets | | Bonds can be a smart strategy for individuals looking to diversify their portfolios and achieve more predictable returns. While stocks offer the potential for higher growth, they also come with greater volatility. On the other hand, bonds are generally considered less risky and can provide a steady ... Read the Full Story |
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Friday's Early Bird Stock Of The Day America's Car-Mart, Inc., through its subsidiaries, operates as an automotive retailer for the used car market in the United States. It primarily sells older model used vehicles and provides financing for its customers. The company was founded in 1981 and is headquartered in Rogers, Arkansas. | | View Today's Stock Pick |
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