Good MorningThe S&P 500 extended its decline on Wednesday falling a little more than 0.70% at the low of the day after a late day downdraft. The move was small but sparked by a weak ADP employment figure and has the index below a key technical level. The index price action has fallen back into a downward sloping price channel that has been in place since late 2021. At this level, bearish traders may begin to pile back into the market and drive the index down to retest the recent lows near 3,650.
The next hurdle will come on Friday with the NFP report. The NFP report is expected to echo the ADP report and show weaker and weakening trends within the employment sector. The risk is that wage inflation won't subside, however, and add extra pressure on the Fed to raise interest rates. Featured: CEO of biggest PE firm predicts “social unrest” (Stansberry Research) 
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Markets | | | Can Chinese Internet companies Alibaba Group Holdings (NYSE: BABA) and Baidu (NASDAQ: BIDU) recapture their glory days as high-flying growth stocks?
Both companies have been on downward trajectories when it comes to stock price and earnings slowdowns.
Alibaba began trading in the U.S. ... Read the Full Story |
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Tech | | | Asian shares were lower Thursday, tracking the broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time.
Benchmarks fell in Tokyo, Sydney, South Korea and China. Japan's benchmark Nikkei 225 declined 1.6% in afternoon trading to 27... Read the Full Story |
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Markets | | |
Nvidia (NASDAQ: NVDA) and AMD have been directed by the U.S. government to stop the sales of their latest data center and enterprise chips, specifically the A100 and H100 chips. These chips have a number of different uses including AI, enterprise, networking, and cloud. Nvidia’s stock fell i... Read the Full Story |
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Stocks | | |
This may seem like an odd time to be looking at materials stocks. After all, these are stocks that tend to perform well when the economy is booming. But not so well when businesses are dealing with rising interest rates to offset 40-year high inflation.
But this isn’t a typical econom... Read the Full Story |
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Politics | | | Global shares were lower Thursday, tracking a broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time.
France's CAC 40 declined 1.6% to 6,025.93 in early trading, while Germany's DAX slipped 1.6% to 12,633.32. Britain's FTSE 100 w... Read the Full Story |
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From Our PartnersI thought you'd be interested in this report from Behind the Markets.
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Politics | | | The International Monetary Fund announced Thursday it has reached a preliminary agreement to provide Sri Lanka with $2.9 billion over four years to help it recover from its worst economic crisis.
The arrangement will help restore financial and macroeconomic stability and debt sustaina... Read the Full Story |
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Politics | | | Malaysia’s former first lady Rosmah Mansor has been convicted of soliciting and receiving bribes during her husband’s corruption-tainted administration Thursday, a week after her husband was imprisoned over the massive looting of the 1MDB state fund Read the Full Story |
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Politics | | | As the war in Ukraine stretches into its seventh month, North Korea is hinting at its interest in sending construction workers to help rebuild Russian-occupied territories in the country's east.
The idea is openly endorsed by senior Russian officials and diplomats, who foresee a cheap... Read the Full Story |
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Markets | | |
Bed Bath and Beyond (NYSE: BBBY), recently has seen a significant increase in its stock price, mainly owing to speculative sentiment. The stock has rallied from its recent lows of $4.38, to $23, only to fall back down to $9.53 per share. Despite, the recent rally, which can be attributed to specul... Read the Full Story |
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Markets | | | Consumer retail names have had a tough 2022 so far, with soaring inflation and falling household spending combining to create the perfect storm, and Best Buy (NYSE: BBY) has been no exception. The well-known consumer electronics store has had to watch its shares fall 50% from the dizzying heights th... Read the Full Story |
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Thursday's Early Bird Stock Of The Day AEye, Inc., together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia-Pacific. It offers 4Sight intelligent sensing lidar platform, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight; and 4Sight for automotive and industrial market. The company was formerly known as CF Finance Acquisition Corp. III and changed its name to AEye, Inc. in August 2021. AEye, Inc. was founded in 2013 and is headquartered in Dublin, California. | | View Today's Stock Pick |
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