Good MorningEquity markets nearly snapped a 3-day winning streak on Thursday, with the S&P 500 rising marginally for the day. The move was sparked by fears of slowing consumer spending and the possibility of deflation and recession. In that scenario, deflating prices and slowing demand could equate to widespread job losses, stagnating GDP growth and aggressive FOMC rate cuts. While rate cuts are what the market wants, they may come at a cost that will trim significant value off the S&P 500.
The S&P 500 is at another critical juncture with little more than a month left in the trading year. Next week is the Thanksgiving Holiday, and after that, December. With inflation in retreat and the FOMC in wait-and-see mode, Santa Claus may bring a rally to Wall Street. No major economic releases are due, but a few earnings reports, including NVIDIA, could amp up the market. The company's solid momentum could easily lead to outperforming the astronomical estimates. Revenue for the AI-chip leader is expected to ramp nearly 175% YOY.
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S&P’s 2023 hero, chip designer Nvidia Corp. (NASDAQ: NVDA) is in the buy range after clearing a double-bottom base above $476.09. Shares closed at $494.80, up 3.9% from its buy point.
Nvidia stock is up 21.33% in November after posting declines in September and October.&... Read the Full Story |
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Stocks | | | Wall Street’s third straight winning week came to a quiet close Friday, as stocks tacked a whisper more onto their sizzling gains for November so far.The S&P 500 edged up by 5.78 points, or 0.1%, to 4,514.02 and is near its highest level in three months. The Dow Jones Industrial Average inched u... Read the Full Story |
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Markets | | | President Joe Biden has made America's case to CEOs attending the Asia-Pacific summit in San Francisco that the United States is committed to high standards in trade that will benefit economies across the Pacific Read the Full Story |
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The retail sector is struggling in 2023, and Williams-Sonoma (NYSE: WSM) is not immune. Shifting consumer habits and a general pullback in spending on discretionary items are taking a toll on the business. However, Williams-Sonoma is among the highest-quality retail stocks and a resilient name for... Read the Full Story |
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Shares of General Electric (NYSE: GE) posted its highest closing price in six years on November 16.
So what's going on here?
The stock has been on fire this year, advancing 78.67%, far outperforming the S&P 500's gain of 17.28%.
GE's business has changed recently, as the c... Read the Full Story |
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Warren Buffett's Berkshire Hathaway (NYSE: BRK.B), a financial powerhouse, regularly discloses its current holdings to shareholders through a 13F regulatory filing with the Securities and Exchange Commission (SEC) each quarter. This transparency lets investors and market enthusiasts track the comp... Read the Full Story |
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Markets | | | Target on Wednesday reported a hefty third-quarter profit increase that handily beat Wall Street expectations as the retailer held down costs and cut inventory. Revenue slipped more than 4%, however, as customers saddled with broadly higher costs pulled back on spending as the holiday season nears. ... Read the Full Story |
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Amazon.com Inc. (NASDAQ: AMZN), Target Corp. (NYSE: TGT) and Walmart Inc. (NYSE: WMT) are in a race to see which company can offer the fastest, most efficient delivery services.
All of this, of course, is an effort to both increase revenue while slashing costs, two initiatives with the pote... Read the Full Story |
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Markets | | | Macy's third-quarter sales declined as customers grow more cautious with their spending, but sales and profit both topped Wall Street expectations. The department store also raised the top end of its full-year revenue and adjusted profit forecasts. Shares surged nearly 7%, or 88 cents, to $13.48 in ... Read the Full Story |
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Markets | | | Russia's State Duma took a step forward Wednesday towards approving its biggest-ever federal budget which will increase spending by around 25% in 2024, with record amounts going on defense.Defense spending is expected to overtake social spending next year for the first time in modern Russian history... Read the Full Story |
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Friday's Early Bird Stock Of The Day Square, Inc. provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions. The company also provides Square Point of Sale software; Cash App, which provides access to the financial system, allowing customers to electronically send, store, and spend money; Caviar, a food ordering platform for restaurants to offer food ordering, pickup and delivery, to their customers; and Square Capital that facilitates loans to sellers based on real-time payment and point-of-sale data. Square, Inc. was founded in 2009 and is headquartered in San Francisco, California. | | View Today's Stock Pick |
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