Good MorningEquity markets rebounded on Thursday on hopes that inflation was subsisting but these hopes are likely misplaced. Today's PCE price index will tell the tale, and it is expected to confirm the acceleration of monthly inflation and that inflation is still running well above the Fed's 2.0% target. The S&P 500 action is also telling; Thursday's market closed with a gain but the candle formed is dark and consistent with consolidation within a bear market. Price action is still below the 30-day EMA, a sign that short-term traders are bearish on the market.
Next week could be another down week for the market. There is not much on the economic calendar, but a raft of earnings reports is due out from the retail sector. So far, the results are better than expected but point to slowing and contraction in 2023. More news of this variety will harm what are already declining estimates for the 2nd half of the year and add additional downward pressure to the S&P 500. Featured: The One Ticker Retirement Plan Over the Shoulder Demo Now Available (Legacy Research) 
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Stocks | | | Shares in Asia were mixed Friday after Wall Street broke its longest losing streak since December with a modest rally led by tech stocks.
Benchmarks rose in Tokyo and Sydney but fell in Hong Kong, Shanghai and Seoul. Oil prices rose while U.S. futures edged lower.
Japa... Read the Full Story |
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Bitcoin is screaming higher, up roughly 45% on the year, making its first convincing rally since last summer and holding above the critical psychological $20,000 level. The wildly bullish, one-sided price action comes at an interesting time. The crypto industry is in "crypto winter" right now, lik... Read the Full Story |
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Stocks | | | Shares are higher in Europe after closing mostly lower in Asia ahead of the release of consumer price data in the U.S. Benchmarks advanced in Paris, London, Tokyo and Sydney but fell in Hong Kong, Shanghai and Seoul Read the Full Story |
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Markets | | | Shares are higher in Europe after closing mostly lower in Asia ahead of the release of consumer price data in the U.S. Benchmarks advanced in Paris, London, Tokyo and Sydney but fell in Hong Kong, Shanghai and Seoul Read the Full Story |
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If Garmin (NYSE: GRMN) has anything to its credit, and it has quite a lot, it has diversification. This technology powerhouse makes and markets a wide range of gadgets and components used by governments, businesses and individuals in use cases that span all verticals. If one segment sees weakness,... Read the Full Story |
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From Our PartnersA strange event (that no one has warned you of) is about to disrupt the foundations of the U.S. political, economic, and financial system… and could cause devastating losses for unprepared investors | | Go here for all the details |
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Markets | | | Consumer prices in Japan jumped in January by the most in more than 41 years, the government reported Friday, adding to pressure on the central bank to adjust its longstanding ultra-lax monetary policy.
The key price indicator, which excludes volatile fresh foods, rose 4.2% last mont... Read the Full Story |
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Markets | | | Indian Prime Minister Narendra Modi has urged financial policymakers of the Group of 20 leading economies to focus on the world's “most vulnerable people" in talks taking place in the technology hub of Bengaluru Read the Full Story |
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If you are wondering if the rally in the TJX Companies (NYSE: TJX) is over the answer is probably not. The bigger question is what will happen between now and the following new high, and that is a consolidation. The company’s Q4 results and outlook for 2023 support the current price action a... Read the Full Story |
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Alibaba Group (NYSE: BABA) rose in pre-market trading in New York; its shares increased by more than 6%. The online retailer considerably surpassed the average expectation of 35 billion yuan by reporting net profits of 46.8 billion yuan ($6.8 billion). Just above expectations, revenue increased 2.... Read the Full Story |
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Shares of NVIDIA (NASDAQ: NVDA) are rocketing higher after some surprisingly good news. The company reported better-than-expected Q4 results led by AI and gaming. The recovery in gaming is a real surprise because all signs from within the industry are that slowing is the theme of 2023.
This means... Read the Full Story |
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Friday's Early Bird Stock Of The Day Precigen, Inc. operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar. The company offers therapeutic platforms consisting of UltraCAR-T to provide chimeric antigen receptor T cell therapies for cancer patients; AdenoVerse immunotherapy, which utilizes a library of proprietary adenovectors for gene delivery of therapeutic effectors, immunomodulators, and vaccine antigen; and ActoBiotics for specific disease modification. It also develops programs based on the UltraCAR-T platform, including PRGN-3005 in Phase 1b clinical trial to treat advanced ovarian, fallopian tube, or primary peritoneal cancer; PRGN-3006 in Phase 1b trial for patients with relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndromes; and PRGN-3007 in Phase 1/1b trial for the treatment of advanced receptor tyrosine kinase-like orphan receptor 1-positive, hematologic, and solid tumors. In addition, the company is developing programs based on the AdenoVerse immunotherapy platform comprising PRGN-2009 in Phase 2 trial for patients with HPV-associated cancer; and PRGN-2012 in Phase ½ trial to treat recurrent respiratory papillomatosis, as well as AG019, which is based on the ActoBiotics platform and in Phase 1b/2a trial, to treat type 1 diabetes mellitus. Further, it provides UltraPorator, a proprietary electroporation device; and develops research models and services for healthcare research applications. The company was formerly known as Intrexon Corporation and changed its name to Precigen, Inc. in February 2020. Precigen, Inc. was founded in 1998 and is headquartered in Germantown, Maryland. | | View Today's Stock Pick |
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