Good MorningEquities fell for an 8th week last week and are heading lower. The S&P 500 confirmed a major reversal in price action when it dropped below 4,100 and then moved on to set a new low at the end of the week. The next catalyst for index movement will come on Wednesday with the release of the FOMC minutes which are expected to reveal a very hawkish Fed. Later in the week, the PCE price index will come into focus and we expect it to be a hot one. Based on the latest comments from Fed chief Jerome Powell, we think the number could increase the odds of a larger 75 basis point interest rate hike at the June meeting.
With the index in freefall, it seems the market has taken the adage "sell in May and go away" to heart. This means the summer season could be volatile and any movements should be viewed with skepticism, especially upward movements. The next major signal for the market won't likely come until the end of the summer when the institutional money and professional traders come back from vacation. Featured: FANG Stocks Are Dead - Your Market Crash Playbook (Wyatt) 
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BBY stock is not easy to slot into one specific category
Best Buy (NYSE:BBY) is expected to be one of the more closely watched stocks this week. The company reports earnings after the market closes on Tuesday, May 24. This has been a lousy earnings season for most retail stocks. And the for... Read the Full Story |
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From Our PartnersURGENT: Stocks have been plummeting since Russian’s invasion of Ukraine. The proposed ban of Russian oil could create a historic shock in oil prices and send oil stocks soaring. But do NOT buy Chevron or ExxonMobil. Instead, this small Texas oil stock could make you 100+% if you get in immediately, before the oil crisis escalates. | | | | Click here for the full details. |
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Politics | | | World shares were mixed in cautious trading Monday after Wall Street dipped once again to the edge of a bear market.
Benchmarks rose in Frankfurt, London and Tokyo and fell in Paris and Hong Kong. U.S. futures and oil prices rose.
Investors were awaiting minutes from t... Read the Full Story |
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Markets | | | Rapid7, Inc. (NASDAQ: RPD), unlike most of its competitors in the cloud security space, has the very real possibility of turning a profit this year, which probably comes as a great surprise to many investors Read the Full Story |
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Stocks | | |
Some of the biggest names on the NASDAQ have been sold off in a sector rotation that’s still being felt today. These companies included bluechip FAANG stocks such as Google, Meta, and others. Investors piled into the technology sector once they saw tech companies soar during the pandemic wit... Read the Full Story |
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Stocks | | |
Yandex N.V (NASDAQ: YNDX) has caught the ire of the West in response to Russia's invasion of Ukraine. After being accused of suppressing free speech and spreading misinformation about conflict, Yandex's second in command, Tigran Khudaverdyan was sanctioned and has since stepped down from his posit... Read the Full Story |
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Politics | | | The head of the U.N.’s World Food Program is telling billionaires it’s “time to step up” amid the threat of rising food insecurity worldwide and says he’s seen encouraging signs that uber-tycoons like Elon Musk and Jeff Bezos are getting into the action Read the Full Story |
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Politics | | | Ukrainian President Volodymyr Zelenskyy is calling for “maximum" sanctions against Russia during a virtual speech at the World Economic Forum gathering.
He says in a virtual speech Monday that sanctions need to go further to stop Russia’s aggression, including an oil embargo, all of i... Read the Full Story |
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Politics | | | The founder of the World Economic Forum says Russia’s war in Ukraine as well as climate change and the global economy are key issues at the gathering of business elites and government leaders in Davos, Switzerland Read the Full Story |
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Politics | | | The head of chipmaker Intel says a shortage of advanced equipment to make semiconductors could hold up global expansion plans.
CEO Pat Gelsinger said Monday that there have been “quite significant extensions” in delivery times for chipmaking gear for new chip factories, known as “fabs... Read the Full Story |
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Markets | | | The takeaway from Q1 earnings for the retailers (NYSEARCA: XRT) is slowing growth and margin compression. Those factors have the sector down across verticals but not all retailers are feeling the same pain. Read the Full Story |
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Monday's Early Bird Stock Of The Day Under Armour, Inc., together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications. In addition, the company provides accessories, which include gloves, bags, headwear, and socks; and engages in brand licensing, digital subscription, advertising, and other digital business activities. It primarily offers its products under the UNDER ARMOUR, ARMOUR, HEATGEAR, COLDGEAR, HOVR, UA, PROTECT THIS HOUSE, I WILL, ARMOUR FLEECE, and ARMOUR BRA brands. The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, mono-branded Under Armour retail stores, institutional athletic departments, and leagues and teams, as well as independent distributors; and directly to consumers through Brand and Factory House stores, as well as through e-commerce websites. It operates in the United States, Canada, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company was incorporated in 1996 and is headquartered in Baltimore, Maryland. | | View Today's Stock Pick |
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