Good MorningEquity traders resumed their selling on Tuesday bringing the downtrend to three weeks and the market to a five-week low. The selling intensified under mounting fear the FOMC will not quit hiking interest rates until inflation is in control and that it could mean a very deep recession. The S&P 500 shed about 1.5% at the low of the day and it looks like it will retest the 3,700 level sooner rather than later.
Market fear was stocked by a hotter-than-expected JOLTs figure. The number of job openings surged to 11.2 million and just shy of record highs despite an expectation for openings to fall to 10. million. The figures suggest economic activity is still hot enough to underpin wage inflation if not broader inflation and support the idea of another aggressive FOMC rate hike. The odds of a third 75 basis point hike rose above 70% following the news and the next FOMC meeting is only 3 weeks away. Featured: The Day of Financial Reckoning Is Near (Weiss Ratings) 
|
Markets | | | If you’re a student of chart patterns, you’ll notice that Cadence Design Systems (NASDAQ: CDNS) appears to be forming a cup with high handle.
Now, I’m well versed in many of these typical chart patterns. I’m not aware of any empirical data showing the probabilities of a cup ... Read the Full Story |
|
From Our PartnersWhen Russia invaded Ukraine, this caused major stock losses and soaring gas prices.
But it also created a HUGE opportunity for savvy investors. | | | | Learn more here >>> |
|
Markets | | | Targa Resources (NYSE: TRGP), which specializes in midstream energy infrastructure, has been etching the right side of a consolidation since late July.
Targa has been correcting in a pretty orderly fashion, especially if you compare it to the many stocks that are down 50% or more this year.
... Read the Full Story |
|
Stocks | | |
The earnings reports from within the retail sector (NYSEARCA: XRT) were very mixed for Q2 but one thing is clear. The companies with great branding, healthy eCommerce profiles, the right demographics, and solid execution are outperforming peers and the group as a whole. Williams-Sonoma (NYSE: WSM)... Read the Full Story |
|
From Our PartnersTo build just one electric vehicle (EV) engine requires 183 pounds of copper. Compare that to just 18 pounds required in a gas-powered car. That's 10 TIMES more copper. EVs are expected to increase 1,400% by 2030. More sources of copper are desperately needed to keep up with demand. | | See Who Can Benefit from Huge Copper Demand. |
|
Markets | | | Global stock markets declined Wednesday after strong U.S. jobs data fueled expectations of more interest rate hikes and Chinese manufacturing activity weakened.
London and Frankfurt opened lower. Shanghai, Tokyo and Hong Kong declined. Oil prices lost more than $1 per barrel.
... Read the Full Story |
|
Stocks | | |
Not so fast! At least for now, Jerome Powell has dimmed investor hopes of a second half comeback for U.S. equities. The Fed Chairman’s surprisingly ‘hawkish’ Jackson Hole tone brought renewed volatility to a market that appeared to be coasting towards a summer revival. ... Read the Full Story |
|
|
Tech | | | Toyota is investing 730 billion yen ($5.6 billion) in Japan and the U.S. to boost production of batteries for electric vehicles, the Japanese automaker said Wednesday.
Production is set to start between 2024 and 2026. In Japan, 400 billion yen ($3 billion) will go into the Himeji Plan... Read the Full Story |
|
Stocks | | | Multi-cloud application network and cybersecurity solutions provider F5 (NASDAQ: FFIV) stock has fallen (-35%) for the year. F5 enables organizations and data centers to defend its networks and applications from hackers and bots. The Company has largely pursued a growth by acquisition strategy to en... Read the Full Story |
|
Markets | | | As winter nears, European nations, desperate to replace the natural gas they once bought from Russia, have embraced a short-term fix: A series of roughly 20 floating terminals that would receive liquefied natural gas from other countries and convert it into heating fuel Read the Full Story |
|
Tech | | | Japan's Defense Ministry made a budget request for the coming year Wednesday without specifying the costs of missiles for preemptive strikes and dozens of other weapons as well as its development plans, as the government aims to drastically raise Japan's military capability.
The minis... Read the Full Story |
|
Markets | | | Russia's Gazprom stopped the flow of natural gas through a major pipeline from Russia to Europe early Wednesday, a temporary move to it announced in advance.
The Russian state-controlled energy giant said earlier this month that it would the cut the flow of gas through the Nord Stream... Read the Full Story |
|
Wednesday's Early Bird Stock Of The Day Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, the Middle East, Africa, and the Asia Pacific. It offers turnkey packaging and test services, including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test, and drop shipment services; flip chip scale package products for smartphones, tablets, and other mobile consumer electronic devices; flip chip stacked chip scale packages that are used to stack memory digital baseband, and as applications processors in mobile devices; flip-chip ball grid array packages for various networking, storage, computing, automotive, and consumer applications; and memory products for system memory or platform data storage. The company also provides wafer-level CSP packages for power management, transceivers, sensors, wireless charging, codecs, radar, and specialty silicon; wafer-level fan-out packages used in power management, transceivers, radar, and specialty silicon; silicon wafer integrated fan-out technology that replaces a laminate substrate with a thinner structure; leadframe packages for electronic devices and mixed-signal applications; and substrate-based wirebond packages used to connect a die to a substrate. In addition, it offers micro-electro-mechanical systems packages that are miniaturized mechanical and electromechanical devices; and advanced system-in-package modules used in radio frequency and front end modules, basebands, connectivity, fingerprint sensors, display and touch screen drivers, sensors and MEMS, and NAND memory and solid-state drives. Further, the company provides wafer, package, and system level test services, as well as burn-in test and test development services. It serves integrated device manufacturers, fabless semiconductor companies, original equipment manufacturers, and contract foundries. The company was founded in 1968 and is headquartered in Tempe, Arizona. | | View Today's Stock Pick |
|
