Good MorningEquities began the week on solid footing but early gains on Monday quickly evaporated. The S&P 500 closed with a loss for the day and just above the summer lows which is the key level to watch this week. If the index slips below this level the market could begin to pick up momentum on its slide to new lows. In that scenario, the S&P 500 could fall to the 3,500 level or lower.
One catalyst that could lead to such a move is the PCE price index on Friday. The index is expected to accelerate on a core basis in both the month-to-month and YOY comparisons. This data would support the need for another aggressive FOMC interest rate hike and it could come in hotter than expected. While gas prices have come down from their peak the rise in fuel prices and other commodities is still working its way through the economy and is underpinning core consumer-level inflation. Featured: Want To Trade Tech? This Is The Stock For You (Darwin) 
|
Markets | | |
E-commerce infrastructure platform Shopify (NYSE: SHOP) stock has fallen from a high of $176.29 to the recent low of $27.65 in less than a year’s time. Shares are down a tear jerking (-79%) in 2022. The pandemic accelerated e-commerce adoption by a decade according to some estimates. Shopify... Read the Full Story |
|
From Our PartnersTin is the forgotten, but CRITICAL metal in the forthcoming electrification revolution. Every component of the carbon reduced and growing data-driven economy requires it. Be an early adopter by investing in this company with a high-quality portfolio of tin projects and an aggressive exploration plan. Positive results recently announced! | |
Add this company to your watchlist |
|
Politics | | | World shares were mostly higher on Tuesday as buying kicked in after heavy selling on Wall Street put the Dow Jones Industrial Average into what’s known as a bear market.
U.S. futures and oil prices gained.
In early European trading, Germany's DAX climbed 0.7% to 12,3... Read the Full Story |
|
Politics | | | The British pound stabilized in Asian trading on Tuesday after plunging to a record low a day earlier, as the Bank of England and the British government tried to soothe markets nervous about a volatile U.K. economy.
The instability began to have real-world impacts, with several Britis... Read the Full Story |
|
|
Markets | | |
Dick’s Sporting Goods sustains high comps relative to pre-pandemic levels.
Starbucks’ new CEO is a game-changer and not the only catalyst.
Ulta Beauty is growing revenue and grabbing market share.
The Q3 earnings cycle is about to heat up and it looks like it could be a ro... Read the Full Story |
|
Markets | | | Global media and communications company Comcast (NASDAQ: CMCSA) stock is down (-37%) on the year and testing its pandemic lows. Despite the cord cutting trend that is killing its legacy cable video tv business losing (-521,000) customers in Q2 2022, the Company is still showing strong profits. It ad... Read the Full Story |
|
|
Markets | | | Biotech Amyris (NASDAQ: AMRS) appears well-positioned to capitalize on a growing interest in environmentally sustainable replacements for ingredients in consumer products.
California-based Amyris, which went public in 2010, is focused on a business called synthetic biology. It develops, manuf... Read the Full Story |
|
Markets | | | The Asian Development Bank said Tuesday it will devote at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific.
The development lender said it plans a comprehensive program of support to help the 1.1 billion people in the region who lack healthy die... Read the Full Story |
|
Markets | | | The German economy ministry says the Nord Stream 1 pipeline leading from Russia to Europe has reported a drop in pressure, only hours after a leak was reported in the Nord Stream 2 pipeline in the Baltic Sea off Denmark Read the Full Story |
|
Markets | | | The German economy ministry says the Nord Stream 1 pipeline leading from Russia to Europe has reported a drop in pressure, only hours after a leak was reported in the Nord Stream 2 pipeline in the Baltic Sea off Denmark Read the Full Story |
|
Markets | | |
Altria Group, Inc. (NYSE: MO) staged a mini rally last week that was eventually snuffed out by Friday’s market selloff—the fourth straight selloff to new 2022 lows nonetheless.
Still, with the tobacco leader outperforming the S&P 500 by 10% year-to-date, the stock’s de... Read the Full Story |
|
Tuesday's Early Bird Stock Of The Day Core & Main, Inc. is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide. The company was founded in 1874 and is headquartered in St. Louis, MO. | | View Today's Stock Pick |
|
