Good MorningEquity markets retreated on Wednesday after remarks from Fed Chief Jerome Powell failed to soothe the market. Mr. Powell says the committee may only hike rates one more time this year but also that inflation is yet to be tamed, and the committee is ready to hike rates again if needed. In addition, Mr. Powell seemed supportive of the financial system but failed to give explicit details of how the system could be backstopped.
The S&P 500 fell more than 1.6% at the end of the day, confirming the latest stock downtrend. The move confirms resistance at the 4,000 level and the 3rd lower consecutive peak since the bear market rally began. This could signify lower lows, but support may be present at 3,800. The only thing certain now is uncertainty, which will not be good for the market. In this light, 3,800 may only be a stopping point on the move to retest last year's lows. Featured: Is it possible to have a crash proof portfolio? (Masterworks) 
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A look at the stock symbol of Samsara, Inc. (NYSE: IOT) defines what the company does, internet-of-things (IOT). The IoT comprises a network of connected devices that can be accessed remotely and communicate with each other, providing and transforming real-time and robust data. Samsara provides Io... Read the Full Story |
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Bitcoin (CRYPTO: BTC) seems to move with a mind of its own. At the time of writing it has just breached the $28,000 resistance level, a new high for 2023. Coincidentally, this rally times perfectly with the collapse of certain conduits of the fiat banking system, and gleefully defies the broad sel... Read the Full Story |
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GameStop (NYSE: GME) is an interesting and exciting market to watch, but it is not a market for most investors to dabble with. The only thing that can be said is that volatility will reign supreme because the bulls and the bears have strong feelings about where its price should be. The analyst's s... Read the Full Story |
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Markets | | | China Evergrande, a real estate developer whose struggle to manage more than $300 billion in debt rattled global financial markets has announced a long-awaited plan to restructure what it owes to foreign bondholders Read the Full Story |
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Markets | | | The Bank of England has extended its battle against inflation, announcing an 11th consecutive interest rate increase despite concerns about the economic fallout from troubles in the global financial system Read the Full Story |
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Markets | | | The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzer... Read the Full Story |
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Markets | | | Approval of President Joe Biden has dipped slightly since a month ago, nearing the lowest point of his presidency as his administration tries to project a sense of stability while confronting a pair of bank failures and inflation that remains stubbornly high.That’s according to a new poll by The Ass... Read the Full Story |
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Markets | | | The Federal Reserve raised its key rate by another quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive.If you have money to save, you’ll probably earn a bit more interest on it, but the increase will ... Read the Full Story |
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Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) is in the sweet spot. Manufacturers and retailers eager to shed unwanted inventory are helping to drive favorable conditions for Ollie’s and its chain of stores. The company has ample choice of inventory and the traffic to keep its invento... Read the Full Story |
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Shoe Carnival (NASDAQ: SCVL) is a multifaceted story that begins with a company with intrinsic value to consumers and a push toward digital. It ends with Salesforce.com (NASDAQ: CRM), the leading Customer Relationship Management firm. The combination has unlocked increased profitab... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Surrozen, Inc., a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system. Its products in pipeline include SZN-043, a hepatocyte-specific R-spondin mimetic bispecific fusion protein, which is in Phase 1b clinical trial for the treatment of severe liver diseases, including alcohol-associated hepatitis. The company develops SZN-413, a Fzd4 targeted bi-specific antibody for the treatment of retinal vascular associated diseases. Surrozen, Inc. has collaboration and license agreement with Boehringer Ingelheim International GmbH to research, develop, and commercialize Fzd4 bi-specific antibodies. Surrozen, Inc. is based in South San Francisco, California. | | View Today's Stock Pick |
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