Good MorningThe equities markets began to rebound last week but investors are urged not to read too much into the move. The move is due more to a lack of news than a change in fundamentals and will likely result in another selling opportunity as the Q2 earnings reporting season draws near. The first major reports of the season are already in but the peak of the cycle won't come for two more weeks when the Big Banks report. Between now and then, however, is a major economic hurdle in the form of the PCE price index and it is expected to be a hot one. If the market can not rationalize the data the major indices could easily reverse last week's gains.
Turning to the chart, the S&P 500 closed the week below a major resistance target near 3,950. This target is coincident with the short-term EMA and the mid-point of a downsloping channel and it could easily cap gains in the near to short-term. If the market can not get above this level, it may not matter how cool the PCE price index or hot the earnings turn out to be.
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Markets | | |
Bear markets are times of uncertainty for investors as the market resets its parameters and preferences to determine stock values. While top-line growth momentum and high expectations are relished in bull markets, it get replaced by tangible value and stability during bear markets. The most tangib... Read the Full Story |
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From Our PartnersOne of the biggest and most important stores in America just sent out a terrifying signal for you and your money. The big box retailer is preparing for a shocking economic reality – canceling product orders and slashing prices to sell off what it's got. It's a major warning signal for most investments. Even worse – your cash savings could be at risk. | | | | Click here for the full story. |
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Markets | | | European shares were trading higher Monday after a day of gains in Asia. U.S. futures and oil prices also advanced.
Leaders of the Group of Seven leading economic powers pledged financial, humanitarian and other support for Ukraine.
Conferring by video link with Ukrai... Read the Full Story |
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Markets | | | European shares were trading higher Monday after a day of gains in Asia. U.S. futures and oil prices also advanced.
Leaders of the Group of Seven leading economic powers pledged financial, humanitarian and other support for Ukraine.
Conferring by video link with Ukrai... Read the Full Story |
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Politics | | | Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted amid the Indian Ocean island nation's economic collapse.
The development comes as Washington and its allies aim to cut off energy imports from Russia in line with sa... Read the Full Story |
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Politics | | | In 1975, leaders of the world’s wealthy democracies gathered to deal with an energy crisis sparked by a war and rampant inflation. Those same sore points are bedeviling their successors representing 46% of the global economy at this week's Group of Seven summit, with high consumer and energy prices ... Read the Full Story |
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Politics | | | People in Tokyo are sweating it out as the government warns of possible power shortages and urges greater efforts to conserve energy while Japan endures unseasonably hot temperatures.
Weather officials announced the earliest end to the annual summer rainy season since the Japan Meteo... Read the Full Story |
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Markets | | | Video communications platform Zoom Video (NASDAQ: ZM) stock has been trading down (-36%) for the year but is staging a rally. The popular video teleconferencing platform has been a top benefactor during the pandemic as COVID lockdowns skyrocketed its top line and share price. The spread of COVID vac... Read the Full Story |
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Markets | | | Adaptive network solutions provider Ciena Corporation (NYSE: CIEN) stock has lost (-43%) in the 2022 bear market falling for 11 straight weeks. The optical fiber maker is instrumental in the deployment of 5G infrastructure and growth in wireless and accelerated cloud adoption at the edge of the netw... Read the Full Story |
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Markets | | |
-Blackberry reported Q1 earnings, and despite beating analyst estimates, the stock continues to struggle.
-Net profit was -$181 million, or -$.35 per share.
-Revenue fell by 3.4% y-o-y to $168 million.
-Software and services revenue grew by 9% y-o-y to $164 million.
-Blackberry’s stock i... Read the Full Story |
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Markets | | | GMS Inc. (NYSE: GMS) is a leading distributor of construction products and provides commercial and residential building supplies. GMS posted record revenue, EBITDA, and net income for the quarter on the back of strong demand Read the Full Story |
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Monday's Early Bird Stock Of The Day Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites. It also engages in licensing agreements to the manufacture and sale of watches, jewelry, eyewear, and fragrances. The company was formerly known as Michael Kors Holdings Limited and changed its name to Capri Holdings Limited in December 2018. Capri Holdings Limited was founded in 1981 and is headquartered in London, the United Kingdom. | | View Today's Stock Pick |
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