Good MorningEquity markets rallied in the prior week on hopes the Fed rate hiking cycle is near the end. Remarks from Fed chief Jerome Powell alluded to the event but left the door open to additional hikes should they be required. However, the takeaway is that rates will remain high indefinitely, and the first cut may not come until late in 2024. The S&P 500 gained about 6% for the week but remains below the 2023 highs with critical resistance close.
This week will be a trying time for equity traders. There is very little economic data, lots of fed speak, and another week of earnings. Earnings reports from Disney, Kellanova, and Occidental Petroleum will take the spotlight. The questions are how margins hold up and the outlook for capital returns. Disney, specifically, could shed light on when it will reinstate its dividend, which would be a significant catalyst for the stock. Featured: New gold-backed currency could kill the Dollar (Stansberry Research) 
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What's the hot defensive play right now?
Exactly what you'd think: utilities stocks, which are tried-and-true dividend payers, are trending higher. The Utilities Select Sector SPDR Fund (NYSEARCA: XLU) is up 4.72% in the past week. The sector is up 2.44% in the past month, outpacing the... Read the Full Story |
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Results from ServiceNow (NASDAQ: NOW) bode well for cloud services stocks. The company posted results that sparked a round of surprisingly bullish chatter from analysts that points to continued strength in this and other cloud services names.
Analysts viewed the ServiceNow results as remark... Read the Full Story |
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Just like many investors got around investing in Chinese names, such as Alibaba Group (NYSE: BABA), after Ray Dalio got behind it, a wave of money will jump into the industry's favorite play today: uranium.
Backing names like Cameco Corporation (NYSE: CCJ) and Ur-Energy ... Read the Full Story |
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Estee Lauder Companies Inc. (NYSE: EL) is on track to regain traction. Despite solid trends in the beauty category, it faces substantial headwinds with the near-term outlook declining. The takeaway is that Estee Lauder stock will be a buy for 2025, but not until later in 2024. Between then an... Read the Full Story |
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Markets | | | Seeking to generate excitement around a largely lackluster economy, Chinese Premier Li Qiang is pledging to continue deepening reforms, expand free trade zones and relax market access for foreign investment Read the Full Story |
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Shares of Zillow Group Inc. (NASDAQ: ZG) were trading about 9% lower for the week of October 30 after a federal jury in Missouri ruled that the National Association of Realtors and some large real estate brokerages conspired to inflate realtor commissions.
Like Zillow, Redfin Corp.... Read the Full Story |
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Markets | | | Shares mostly fell in Asia on Tuesday after a mixed close on Wall Street, where wild recent moves calmed a bit at the beginning of a quiet week for data releases. Benchmarks dropped more than 1% in Hong Kong and Tokyo and South Korea’s Kospi gave up 3% of its big gains from a day earlier. The flashp... Read the Full Story |
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Markets | | | Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns — particularly the insurers — generally performed well.Berkshire Hathaway said Saturday that it lost $12.8 billion, or $8,824 per Class A share, ... Read the Full Story |
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Markets | | | All signs point to a relatively solid holiday season for America’s small businesses. Yet, owners of these businesses appear to have a collective anxiety about the months ahead.They have their customers to thank on both counts.American kept up their spending over the summer, witness the government’s ... Read the Full Story |
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Markets | | | Maersk, the world’s biggest shipping company, said Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics services. The company said the move would result in savings of $600 million in 2024.The announcement was made as Co... Read the Full Story |
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Monday's Early Bird Stock Of The Day Etsy, Inc., together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels. Further, the company provides the Etsy Purchase Protection program that is designed to help buyers; the Etsy Share and Save program for sellers to save on Etsy fees for sales that drive to their Etsy shop from their own channels. Additionally, it offers educational resources comprising blog posts, video tutorials, Etsy Seller Handbook, Etsy.com online forums, and insights; Etsy Teams, a platform to build personal relationships with other Etsy sellers; and a Star Seller program. The company was formerly known as Indieco, Inc changed its name to Etsy, Inc. in June 2006. Etsy, Inc. was founded in 2005 and is headquartered in Brooklyn, New York. | | View Today's Stock Pick |
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