Good MorningThe sell-off in equities took on a new dimension on Monday with the S&P 500 falling nearly 4.0% by the end of the day. The move not only confirms the greater market reversal that is in play but the lowest targets for the bottom which are near the 2,800 level. With the sell-off gaining momentum and no changes to fundamentals in sight, investors should view any upward movement in price action as an opportunity to sell.
The next big moves may come later in the week after the FOMC announces the next policy change. The committee is expected to hike rates by at least 50 basis points and there is a growing risk it could be more. Even if the Fed only raises rates by 50 basis points this month, there is a near certainty a 75 basis point interest rate hike will come in July. The takeaway for equities is the cost of borrowing money is on the rise in the face of rising input costs and both are squeezing margins. Featured:
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Tech | | | Wall Street opened the week with heavy losses that put the benchmark S&P 500 at a level considered to be a so-called bear market.
Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what the... Read the Full Story |
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Tech | | | Wall Street looks like it will open the week with more losses, with the S&P 500 falling to a level that market observers consider to be a so-called bear market.
Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led ... Read the Full Story |
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Politics | | | Shares opened mostly higher in Europe early Tuesday and Asian shares recovered from the worst of their losses following Wall Street’s tumble into what’s called a bear market.
London and Frankfurt gained on the open but fell back slightly later in the morning. Shanghai advanced while ... Read the Full Story |
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Markets | | | NortonLifeLock's merger with Avast will be a great win for the business, but it is coming under fire from anti-trust regulators in the UK. The company has also improved its revenues for ten consecutive quarters and looks set to continue this performance in the future. Read the Full Story |
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Hydrogen fuel cell technology provider Plug Power (NASDAQ: PLUG) stock has gotten scorched trading down (-44%) for the year. The leading turnkey comprehensive hydrogen fuel cell (HFC) solutions provider’s shares rode the clean energy and ESG hype reaching a high of $75.49 in January 2021 bef... Read the Full Story |
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Politics | | | South Korea’s prime minister warned Tuesday that the disruption of cargo transport could cause “irrecoverable” damages on the country’s economy, as a nationwide truckers' strike entered its eighth day.
About 6,800 truckers were rallying Monday at various sites across South Korea, cont... Read the Full Story |
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Politics | | | U.N. Secretary-General António Guterres warned Tuesday of a “dangerous disconnect” between what scientists and citizens are demanding to curb climate change, and what governments are actually doing about it.
Guterres said global greenhouse gas emissions need to drop by 45% this decade... Read the Full Story |
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Semiconductor testing equipment maker Applied Materials (NASDAQ: AMAT) stock has been a dependable gauge on the chip sector. The Company is right in the middle of the global chip shortage and supply chain disruptions. Bolstering the supply chain is a top priority. The fiscal Q2 2022 quarter missed... Read the Full Story |
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Tech | | | Oracle’s (NASDAQ: ORCL) Q4 results were fantastic and indicate a bottom is in for the stock. This news is being hailed across the cloud-computing industry as the sign of a broader bottom but we don’t think you should read too much into the news. Read the Full Story |
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Markets | | | With demand for digital payment solutions expected to be strong for years to come, multiple winners will arise. These two innovators driving the future of financial transactions are begging to be bought at current levels. Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma. | | View Today's Stock Pick |
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