Good MorningEquity markets held their ground on Wednesday following a round of mixed earnings reports. News from companies like Netflix, Abbott Laboratories, and big banks left the market wanting more. While many are reporting better than expected, the results are offset by uncertainty and have the market in a wait-and-see mode. More reports are due on Thursday that could tip the balance in favor of bulls or bears.
The S&P 500 remains below resistance at critical levels. If the market can not get above 4,150 and stay there, it will risk another significant decline. The true risk is inflation and the Fed, which was highlighted in the Beige Book report. According to the Fed, activity is down in most regions, although inflation remains high and above target. The takeaway is that activity is declining, and the FOMC can be counted on to keep interest rates high until activity slows enough to tame inflation. Featured: Seven AI Stocks to Watch in 2023 (Darwin) 
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Markets | | | Asian shares were trading mixed Wednesday, as investors took a wait-and-see attitude ahead of earnings reports and possible moves by central banks. Japan's benchmark Nikkei 225 slipped 0.2% in morning trading to 28,590.40. Australia's S&P/ASX 200 edged up 0.1% to 7,370.70. South Korea's Kospi ga... Read the Full Story |
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It is no surprise that Abbott Laboratories (NYSE: ABT) produce a solid quarter. Med-tech companies like Intuitive Surgical (NASDAQ: ISRG), Boston Scientific (NYSE: BSX) and DexCom (NASDAQ: DXCM) have seen an increase in analyst interest driven by results and outlook. What is surprising is that Abb... Read the Full Story |
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Lockheed Martin Corporation (NYSE: LMT) scored a double beat in its first-quarter earnings report. And analysts are impressed. The morning after the announcement, Citigroup, Inc. (NYSE: C) and Credit Suisse Group AG (NYSE: CS) boosted their price targets for LMT stock to $579 and $550, respectivel... Read the Full Story |
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From Our PartnersAs you know, the stock market has been volatile lately, and there's a lot of uncertainty in the air. But we want to assure you that this is not the time to panic. In fact, it's the time to be buying stocks.
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Markets | | | Netflix began the year with another burst in subscriber growth that eclipsed analysts’ projections for the third consecutive quarter, providing further evidence the video streaming service has regained its momentum after a jarring downturn in customers prompted a shake up.The 1.75 million gain in Ne... Read the Full Story |
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Markets | | | United Airlines said Tuesday that it lost $194 million in the first quarter, but its revenue soared compared with last year, and the airline said consumer demand remains strong despite economic uncertainty.United predicted that results in the April-through-June quarter will be slightly better than W... Read the Full Story |
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Markets | | | Spain’s leftist coalition government on Tuesday approved a plan to make available around 50,000 houses for rent at affordable prices as part of measures aimed at curbing soaring rents and house prices. The apartments will come from the state-controlled SAREB “bad bank” that was set up in 2012 to man... Read the Full Story |
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Markets | | | Bank of America said its profits grew 15% last quarter, the latest of the big banks to do exceptionally well this earnings season as investors and consumers flock to Wall Street for safety after the failure of Silicon Valley Bank and Signature Bank Read the Full Story |
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ASML (NASDAQ: ASML) reported its first quarter 2023 earnings this morning as the Dutch semiconductor equipment manufacturer gears up for what the year may hold for the semiconductor industry. ASML shares are trading lower today, selling off by as much as 3.65% after the announcement... Read the Full Story |
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When Mullen Automotive (NASDAQ: MULN) began its aggressive strategy in the summer of 2022, it caught the market’s attention. A series of more-than-positive news events starting with the acquisition of Bollinger Motors and ending with the recently announced deliveries of vans, was enough to g... Read the Full Story |
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Shares of Okta (NASDAQ: OKTA) are down from their peaks along with most of the rest of the cyber-security industry, but a bottom is in progress, and a reversal is at hand. Not only is the upcoming earnings report an opportunity for outperformance but there is a devil in the details regarding the a... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Chemomab Therapeutics Ltd., a clinical-stage biotechnology company, discovers and develops therapeutics for the treatment of fibrotic and inflammatory diseases. The company's lead clinical product candidate is CM-101, a humanized monoclonal antibody had completed Phase 2a clinical trials that hinders the basic function of soluble chemokine CCL24 for the treatment of primary sclerosing cholangitis (PSC) and systemic sclerosis (SSc). The company was formerly known as Anchiano Therapeutics Ltd. and changed its name to Chemomab Therapeutics Ltd. in March 2021. Chemomab Therapeutics Ltd. was founded in 2011 and is based in Tel Aviv, Israel. | | View Today's Stock Pick |
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