Good MorningThe rebound in equity markets reversed course on Tuesday with the S&P 500 falling more than 2.0% at the low of the session. The move comes on growing fears of margin compression in Q2 and beyond that will result in downward revisions to earnings. Looking at the market from the perspective of earnings, the S&P 500 is valued on the expectation of future earnings power which means a downtrend in EPS outlook will result in a downtrending market. In that light, Tuesday's decline looks like a trend following movement and one that could result in a new low very soon.
The next catalyst for the market, other than unexpected news, will be the PCE price index on Thursday. Even if the index were to cool or even decline the outlook for inflation remains robust. Without some change to the fundamental outlook, the FOMC should be expected to hike rates by 75 basis points at both of the next two meetings. Featured: Alert: Are all your retirement savings in cash, stocks and bonds? (Gold Allied Trust) 
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Markets | | | A single upgrade is rarely enough to move a stock price very much but a series of upgrades often are. That’s why we like to screen for the most upgraded stocks and what we’ve found today is interesting. Read the Full Story |
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From Our PartnersFinding that "diamond in the rough" - such as the next Amazon or Netflix - is what drives many microcap investors. And future Q2 earnings announcements will likely be the reason for a sudden spike in share prices for these 5 microcap stocks. | | Click here to get the names & ticker symbols of all 5. |
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Markets | | | Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession.
U.S. futures edged higher while oil prices fell back.
A weaker-than-expecte... Read the Full Story |
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Stocks | | | Given the largely speculative nature of the Robinhood-100 list, it’s not often that fundamentally focused research firms agree with the largely social media-driven retail trader. Yet the Street and Robinhooders are clearly on board with the growth potential of these three names. Read the Full Story |
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From Our PartnersThis quietly trading NASDAQ company is firing on cylinders with its latest acquisition. | | | | Continue Reading |
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Markets | | |
In 2022, the Dow Jones-30 basement dwellers are a group of companies that typically hang out in the attic.
Conversely, the widely followed benchmark’s leaders include names that struggled to find their footing in the early part of the decade. Chevron’s link to higher oil prices ... Read the Full Story |
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Politics | | | Shares slipped Wednesday in Europe and Asia ahead of the latest update on U.S. economic growth, while oil prices were lower.
The Commerce Department was due to release a report on first-quarter gross domestic product later in the day. Investors worried by uncertainty over inflation, ... Read the Full Story |
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Tech | | | With no one at the wheel, a self-driving taxi developed by tech giant Baidu Inc. is rolling down a Beijing street when its sensors spot the corner of a delivery cart jutting into its lane.
The taxi stops a half-car-length away. “So sorry,” a recorded voice tells passengers. The steer... Read the Full Story |
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Markets | | | Brazilian point-of-sale (POS) financial technology provider StoneCo (NASDAQ: STNE) stock has fallen (-54%) year-to-date despite triple digit top-line growth. The popular aggregator of electronic and digital payments and e-commerce platform in Brazil not only beat its fiscal Q1 2022 estimates but rai... Read the Full Story |
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Politics | | | European Union countries reached a deal following hard-fought talks that dragged into early Wednesday to back stricter climate rules that would eliminate carbon emissions from new cars by 2035.
The 27 EU members found agreement on draft legislation aimed at slashing EU greenhouse gas... Read the Full Story |
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Tech | | | Australia’s new government is putting climate change at the top of its legislative agenda when Parliament sits next month for the first time since the May 21 election, with bills to enshrine a cut in greenhouse gas emissions and make electric cars cheaper Read the Full Story |
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Markets | | | Goldman Sachs analysts Ben Snyder issued a letter to investors echoing a sentiment we share. In his note, he says the 2023 outlook for S&P 500 (NYSEARCA: SPY) earnings is too optimistic given the headwinds facing the economy. Read the Full Story |
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Wednesday's Early Bird Stock Of The Day The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments. The company offers financial advice and solutions, and banking products, including debit and credit cards, chequing and saving accounts, investments, mortgages, loans, and insurance to individuals; and retail automotive financing solutions. It also provides business banking solutions comprising lending, deposit, cash management, and trade finance solutions to small, medium, and large businesses. In addition, it provides wealth management advice and solutions, including online brokerage, mobile investment, full-service brokerage, trust, private banking, and private investment counsel services; and retail mutual funds, exchange traded funds, liquid alternatives, and institutional funds. The Bank of Nova Scotia was founded in 1832 and is headquartered in Toronto, Canada. | | View Today's Stock Pick |
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