Good MorningThe S&P 500 pulled back on Tuesday entering another correction. The question on the minds of traders now is whether this is a small “C” correction or an upper case “C” Correction. If this is a lowercase “c” correction, the market will likely find support within the next day or two, begin regrouping, and then resume the uptrend sometime next week. If this is a capital “C” Correction the market could drop another 1900 basis points or down to levels not seen since October and November 2020.
The reason for the move is simple, increasing signs of peak recovery and an unexpected slowdown in economic activity. The latest evidence is retail sales figures for July, retail sales fell -1.1% versus the -0.1% expected by the analyst confirming weakness foreshadowed by the consumer confidence figures. If the data continues to come in a week the S&P 500 is due for a big revaluation that could easily drive share prices down a full 20% from the recent highs.
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Once upon a time, you had to buy stocks if you wanted to invest in the stock market. Then Jack Bogle, the founder of Vanguard, introduced the first indexed mutual fund in 1975. Then exchange-traded funds (ETFs) came on the scene, which are indexed to a broad market or a sector but trade daily like... Read the Full Story |
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Stocks | | | With volatility rearing its ugly head again in equity indices this week, it’s a good idea for investors to refresh their playbook for tumultuous market conditions. Although dips continue to be bought with the market trading at or near record highs, the poor market breadth should probably have ... Read the Full Story |
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Politics | | | European stock markets opened lower Wednesday while Asia advanced as investors awaited an update from the Federal Reserve on possible plans to reduce U.S. stimulus.
Wall Street futures also declined a day after the benchmark S&P 500 index eased off a record high following weaker-t... Read the Full Story |
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Politics | | | Asian stock markets rebounded Wednesday after Wall Street fell on weak retail sales as investors awaited an update from the Federal Reserve on possible plans to reduce U.S. stimulus.
Shanghai, Tokyo, Hong Kong and Sydney advanced.
Wall Street's benchmark S&P 500 ind... Read the Full Story |
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Politics | | | Japan’s exports in July jumped 37% from a year ago, the government said Wednesday, highlighting an overseas recovery from the coronavirus pandemic.
Imports also grew, rising 28.5%, according to Finance Ministry data, for the second straight month of a trade surplus for the world’s th... Read the Full Story |
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Markets | | | A major Thai asphalt company has been implicated for money laundering in a criminal complaint against a Miami businessman accused of violating U.S. sanctions for doing maintenance work on Venezuela’s fleet of Russian fighter jets Read the Full Story |
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Markets | | | Factual content streaming provider CuriosityStream (NASDAQ: CURI) stock is a content winner in the streaming wars. While the major streaming services are always on the hunt for compelling content and blockbuster motion pictures, factual and documentary content is gaining steam. This whole genre of c... Read the Full Story |
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Markets | | | Chipotle Mexican Grill (NYSE: CMG) is trading in a potentially bullish tight formation after zipping 11.54% following the company’s strong second-quarter earnings report last month.
Earnings increased to $7.46 per share, up from $0.40 per share a year ago, during the Covid-battered seco... Read the Full Story |
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Politics | | | Kansas City Southern will delay this week’s planned shareholder vote on Canadian National’s $33.6 billion offer to buy the railroad because regulators haven’t ruled on a key part of the acquisition plan Read the Full Story |
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Markets | | | Walmart (NYSE: WMT) just proved, again, that it is not your average retailer. While the average retailer has seen its sales flatten or decline over the past few months, Walmart sales have been steadily rising. Read the Full Story |
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The Early Bird Stock Of The Day Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting. The Copper segment engages in mining and refining of copper, gold, silver, molybdenum, and other by-products and exploration activities. The Minerals segment is involved in mining and processing of borates, titanium dioxide feedstock, and iron concentrate and pellets; diamond mining, sorting, and marketing; and development projects for battery materials, such as lithium. It also owns and operates open pit and underground mines; and refineries, smelters, processing plants and power, and shipping facilities. Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom. | | View Today's Stock Pick |
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