Good MorningThe S&P 500 fell for another week shedding more than 1.5% at the low of the day on Friday alone making this the 3rd consecutive week of declines. The S&P 500 is down more than 10% from the recent high and heading lower if the recent signals are to be believed. The next target for support for the S&P 500 is near the 3,650 level and it may not be strong enough to keep the market from setting a new low. A move below the 3,650 level would open the door to 3,525 and the potential for a bigger move down to 2,800.
The hurdle for the market this week will be the Fed's Beige Book on Wednesday. The Beige Book is not expected to give any insight into the psyche of the Fed but it will give a broad view of economic conditions. The takeaway is likely to be tight labor markets, tight supply chains, and rising inflation which will all underpin the outlook for FOMC policy tightening. Featured: CEO of biggest PE firm predicts “social unrest” (Stansberry Research) 
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Snapchat (NYSE: SNAP), continues to face fundamental issues and has resorted to restructuring the company during the quarter by announcing the layoff of its Web3 team. Snapchat reducing its headcount resulted in the stock rallying by over 7% during market hours as investors look forward to the com... Read the Full Story |
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Markets | | | Just when equities were starting to look shaky again after a decent run to end the summer, athleisure brand Lululemon (NASDAQ: LULU) has given the would-be bears pause for thought. They reported their Q2 earnings after the bell rang to end yesterday’s session, and the numbers were red hot. Kee... Read the Full Story |
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Markets | | | Back in the day, as in pre-2013, aluminum manufacturer Alcoa (NYSE: AA) made financial headlines every quarter as the first Dow component to report earnings. In some ways, it served as a bellwether for what investors could expect in every earnings season. I was a financial journalist throughout the ... Read the Full Story |
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Politics | | | OPEC and allied oil-producing countries are weighing how much crude to ship to a troubled global economy as recession fears have sent prices far down from summertime peaks.
And that is a concern for producers like Saudi Arabia and Russia, whose state coffers benefited from oil prices... Read the Full Story |
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Nike (NYSE: NKE) stock is approaching its 52-week low made in July. That’s presenting an interesting dilemma for investors. On the one hand, if the stock holds the July lows as a support level, a technical case can be made that NKE stock is oversold.
On the other hand, a weakening eco... Read the Full Story |
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Hormel (NYSE: HRL) is not the cheapest pick in the consumer staples sector (NYSEARCA: XLP) but it is one of the better values. The stock trades at 25X its earnings compared to 15X at the low end of the range with Kraft-Heinz (NASDAQ: KHC) and upwards of 28X to 30X for names like Clorox (NYSE... Read the Full Story |
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Politics | | | Liz Truss, who is widely expected to become Britain's new prime minister this week, has pledged to act within a week to tackle a cost-of-living crisis fueled by soaring energy bills linked to the war in Ukraine.
But Truss, speaking to the BBC on Sunday, refused to provide any details ... Read the Full Story |
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Markets | | | California's chance of power outages will grow in the coming days, as the state prepares to enter the most brutal stretch yet of an ongoing heat wave, officials said Sunday.
Energy demand is expected to outpace supply starting Monday evening, and predictions for Tuesday show the state... Read the Full Story |
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Markets | | | The uniquely enduring literary agent who worked for years to find a publisher for Jack Kerouac’s “On the Road” and over the following decades arranged deals for everyone from true crime writer Joe McGinniss to the creators of the Berenstain Bears has died Read the Full Story |
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Politics | | | Energy problems plagued Ukraine and Europe as much of the Russian-occupied region that's home to a largely crippled nuclear power plant was reported temporarily in blackout Sunday.
Only one of six reactors at the Zaporizhzhia facility was connected to the electricity grid, and Russia’... Read the Full Story |
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Monday's Early Bird Stock Of The Day HP Inc. provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets. The Printing segment provides consumer and commercial printer hardware, supplies, media, solutions, and services, as well as scanning devices; and laserJet and enterprise, inkjet and printing, graphics, and 3D printing solutions. The company was formerly known as Hewlett-Packard Company and changed its name to HP Inc. in October 2015. HP Inc. was founded in 1939 and is headquartered in Palo Alto, California. | | View Today's Stock Pick |
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