Good MorningEquities started the week with a push to new highs but the move was short-lived. The S&P 500 index moved up above the 4,150 level within the first few minutes of trading but quickly fell back to break even under the weight of caution. The PCE price index is due out this week and may send the market into another tailspin. The index is expected to retreat from last month's high of 9.1% but the risk of a hotter number is very high. While the price of oil has come down in recent weeks it is still high relative to the recovery and underpinning higher prices. The risk for the economy, however, is ongoing systemic increases in prices that point to compounded inflation for consumers later in the year.
In business news, a warning from Nvidia that demand is slowing added downward pressure to stocks. The company says weakness in the gaming industry is leading to weaker than expected Q2 results. The risk for the market is that weakness will bleed over into other chip maker results and other industries. Featured:
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Markets | | |
Before the pandemic, many pharmacy chains were adapting to a wellness model
Both CVS and Walgreens are making significant in-roads into this space
What is current, and future, outlook for both stocks
At first glance, CVS Health NYSE: CVS) looks clearly superior to Walgreens Boots Allia... Read the Full Story |
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Markets | | | Industrials 3M (NYSE: MMM), Honeywell (NASDAQ: HON) and General Electric (NYSE: GE) are all trading higher following recent earnings reports.
One truism about the industrial sector: These companies’ businesses are intricately tied to economic cycles. We maybe familiar with the consumer produc... Read the Full Story |
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Politics | | | European stock markets have opened higher while Asia fell ahead of the release of U.S. inflation data that traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes Read the Full Story |
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Stocks | | |
Workhorse Group (NASDAQ: WKHS) and the rest of the EV market got a lift in mid-summer when Tesla (NASDAQ: TSLA) released better-than-expected earnings and a potential stock split that could be worth billions to investors. The caveat is that Workhorse Group, like other EV startups such as Lordstown... Read the Full Story |
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Stocks | | |
Draftkings (NASDAQ: DKNG) share prices have been in a sustained downtrend that has the look of a rounded bottom. This is noteworthy because truly rounded bottoms are very rare and, to be fair, this one is really a series of smaller bottoms that have led to a slow build-up of support. The bottoming... Read the Full Story |
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Markets | | |
While Sofi missed its EPS loss estimate, the Company is still showing double digit growth in many areas.
The second half should show the contributions of its added margin trading in the quarter
The Company raised its fiscal full-year 2022 revenues to come in between $1.508 billion to $1.513 bi... Read the Full Story |
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Markets | | | As if buying a new car in today’s supply-constrained market wasn’t hard enough, this year, many shoppers are experiencing sticker shock when they realize that the car they wanted has a price tag well over the manufacturer’s suggested retail price Read the Full Story |
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Politics | | | Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation Read the Full Story |
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Politics | | | Japanese Prime Minister Fumio Kishida has reshuffled his Cabinet in a bid to distance his administration from the conservative Unification Church over its ties to the assassinated leader Shinzo Abe and senior ruling party members Read the Full Story |
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Politics | | | Former President Donald Trump will be questioned under oath Wednesday in the New York attorney general’s long-running civil investigation into his dealings as a real estate mogul, he confirmed in a post on his Truth Social account.
Trump’s testimony comes amid a flurry of legal activi... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms. In addition, the company offers first aid and safety services, and fire protection products and services. It provides its products and services through its distribution network and local delivery routes, or local representatives to small service and manufacturing companies, as well as major corporations. The company was founded in 1968 and is based in Cincinnati, Ohio. Cintas Corporation was formerly a subsidiary of Cintas Corporation. | | View Today's Stock Pick |
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