Good MorningThe market melt-up continued on Wednesday with all three major indices setting new highs. The Dow Jones Industrials and S&P 500 each added more than 1.5% leaving the blue-chip index less than 2% from a new all-time high. The move was driven by better than expected results from a host of retailers including Macy’s and Shoe Carnival. The underlying theme among them all is that eCommerce is underpinning results and expected to remain strong long into the future.
Wednesday’s action came despite a weaker than expected ADP report. The ADP report showed 428,000 new jobs were created in August, about half of what the market expects from the NFP report on Friday. Investors are urged to remember that while the ADP and NFP track each other over time they are often uncorrelated on a month to month basis. The NFP could be far different. The takeaway from the ADP report is that job creation is net positive and total unemployment continues to decline.
Featured: 154%, 147% and 100% profits - before 12pm! (BehindtheMarkets) 
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Markets | | | Digital financial products and services fintech company Ally Financial (NYSE: ALLY) shares have been on a tear outperforming traditional bank stocks as it nears its pre-COVID levels. This financial company was originally an auto financing spin-off formerly GMAC but has since transformed into a nimbl... Read the Full Story |
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Markets | | | Intuitive Surgical (NASDAQ:ISRG) is a company producing cutting-edge medical technology that is changing the way that surgeries are performed. Here are some reasons why this stock could be a great buy Read the Full Story |
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Markets | | | Fast casual restaurant chain Red Robin Gourmet Burgers (NASDAQ: RRGB) stock has been dormant during the pandemic recovery even as the benchmark S&P 500 index (NYSEARCA: SPY) make new all-time highs. However, shares have finally awoken as money looks for laggard opportunities among the rapidly ac... Read the Full Story |
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No matter how you may feel about RH, formerly Restoration Hardware (NYSE:RH), it's made a lot of significant moves in the last several months. Throw in the overall condition of the market—and the growing interest in improving one's home to prepare for longer stays therein—and there's s... Read the Full Story |
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Tech | | | Salesforce.com Is Only The Tip Of The Iceberg
Salesforce.com (NYSE:CRM) shocked the market when it reported earnings for the 2nd quarter. We knew the pandemic had accelerated the shift to digital and with it the cloud but the numbers are mind-boggling. Salesforce.com, a company whose business is he... Read the Full Story |
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The Early Bird Stock Of The Day First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally. This segment also provides closing and/or escrow services; products, services, and solutions to mitigate risk or otherwise facilitate real estate transactions; and appraisals and other valuation-related products and services, lien release and document custodial services, warehouse lending services, default-related products and services, document generation services, mortgage loans subservicing, and related products and services, as well as banking, trust, and wealth management services. In addition, it accommodates tax-deferred exchanges of real estate; and maintains, manages, and provides access to title plant data and records. This segment offers its products through a network of direct operations and agents in various states and in the District of Columbia, as well as in Canada, the United Kingdom, Australia, New Zealand, South Korea, and internationally. The Home Warranty segment provides home warranty products, including residential service contracts that cover residential systems, such as heating and air conditioning systems, and various appliances against failures that occur as the result of normal usage during the coverage period. This segment operates in various states and the District of Columbia. The company was founded in 1889 and is headquartered in Santa Ana, California. | | View Today's Stock Pick |
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