Good MorningThe rebound in equities came to an end last week when the market hit a key resistance point at the 30-day moving average. The action confirms short-term traders are still bearish and in control of a market gearing up for bad news. The bad news could begin this week with the NFP report but the real risk is in the earnings outlook. The peak of the Q2 earnings reporting season begins next week and will likely result in a massive downgrade to the 2nd half outlook. In this scenario, we are expecting the S&P 500 to move down to 3,400 or lower.
What the market fears is a recession and the odds of a major recession shot to new highs last week. The Atlanta Fed's GDPNow tracking tool fell to -1.0% and predicts the US is already in a mild recession. Based on the fact the Q1 figures were also revised lower last week we think the 2nd quarter GDP could be below 2.0%.
Featured: Florida man leaves crypto crowd speechless… (Legacy Research) 
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Politics | | | World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul.
Last week was the fourth losing week in the last five for Wall Street as investors fret over high infl... Read the Full Story |
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Politics | | | Shares were mixed in Asia on Monday while U.S. futures fell ahead of the July 4 holiday in the U.S.
Benchmarks rose in Tokyo, Shanghai and Sydney but fell in Hong Kong and Seoul. Oil prices were steady after surging on Friday.
Shares in Japanese telecoms carrier KDDI C... Read the Full Story |
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Politics | | | Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn't enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country's expatriates to send money home through banks to finance new oil purchases.
... Read the Full Story |
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Politics | | | Argentina got a new economy minister late Sunday, a day after the abrupt resignation of her predecessor shook the governing coalition at a time it was already facinga crisis of unity.
Gabriela Cerruti, the presidency’s spokesperson, wrote on Twitter late Sunday that Silvina Batakis wi... Read the Full Story |
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Tech | | | The Supreme Court’s latest climate change ruling could dampen efforts by federal agencies to rein in the tech industry, which went largely unregulated for decades as the government tried to catch up to changes wrought by the internet Read the Full Story |
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Markets | | | Accolade (NASDAQ: ACCD) is certainly an interesting play on the health care space providing business and employee services geared toward helping clients navigate the cumbersome health benefits arena. The pandemic helped boost the company’s business and has on track to continue growing but there is a fly in the ointment. Read the Full Story |
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Markets | | | Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) is a steel recycling and scrap manufacturing company based out of Portland, Oregon. The company reported third-quarter financial results on 31st May 2022.
Highlights:
-Results came in better than expected as the company benefited from domestic non-fe... Read the Full Story |
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Stocks | | | RH (NYSE: RH) was one of the biggest winners from the pandemic boom and now it is one of the biggest losers of the pandemic bust. More importantly, because of when it reports in the reporting cycle, it has provided insight into the upcoming quarter and what to expect from guidance among S&P 500 companies. Read the Full Story |
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Rio Tinto Group (NYSE: RIO) is in the business of mining and processing commodities across the world, but perhaps the most important material it delivers is iron ore. RIO has the largest portfolio of iron ore assets with 16 mines. The demand for this raw material is set to grow worldwide at a CAGR... Read the Full Story |
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Markets | | | ZIM has one of the best dividends in the shipping industry. While demand for durable goods is expected to slow down and charges fall, this stock is still a great addition to a well-diversified portfolio. Read the Full Story |
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Monday's Early Bird Stock Of The Day DocuSign, Inc. provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce. It also provides Identify, a signer-identification option for checking government-issued IDs; Standards-Based Signatures, which support signatures that involve digital certificates; Monitor that uses advanced analytics to track DocuSign eSignature web, mobile, and API account; Notary which enables notaries public to conduct remote online notarization transactions; and Web Forms, a web forms that quickly draft agreements using pre-populated data from completed forms or external systems via APIs. In addition, the company offers Rooms for Real Estate that provides a way for brokers and agents to manage the entire real estate transaction digitally. Signature and CLM are FedRAMP, an authorized version of DocuSign eSignature for U.S. federal government agencies; and life sciences modules that support compliance with the electronic signature practices. The company sells its products through direct and partner-assisted sales, and digital self-service purchasing. DocuSign, Inc. was incorporated in 2003 and is headquartered in San Francisco, California. | | View Today's Stock Pick |
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