Good MorningThe equity market rebounded on Thursday, breaking a 3-day losing streak. The rebound shows support at a 2-week low and may lead to another rally, given the right news. The risk is that the summer rally is already peaking due to the renewed fear of FOMC rate hikes. The FOMC has come out with strong rhetoric that inflation is not tamed, more work needs to be done, and 2 or more rate hikes could be on the way.
Next week will be another trying week for the market. The May read of the PCE price index is due out on Friday, and it could be another hot one. If so, the market may be unable to shrug it off as it has in the past. The market, the economy, the Fed, and inflation are heading toward a reckoning that may only produce losers. Odds of a recession stand at 65%. Featured: Sell Every Stock, Except ONE (Ticker Revealed) (Legacy Research) 
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Stocks | | | Another drop for stocks on Friday helped drag Wall Street to its first losing week in the last six.The S&P 500 fell 33.56, or 0.8%, to 4,348.33, pulling back further from last week when it reached its highest level in more than a year. The Dow Jones Industrial Average dropped 219.28, or 0.6%, to... Read the Full Story |
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Investors rarely get to consider a blue-chip company like T-Mobile US (NASDAQ: TMUS) amid a decline of more than 17% during the past two months. As the underlying stock carries a beta of only 0.56, a significant move like the one seen in previous months is out of the usual. Beta represents a proxy... Read the Full Story |
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Just like a flight preparing for departure, United Airlines Holdings Inc. (NASDAQ: UAL) is taxiing toward a breakout, potentially rising to new heights.
The stock has been forming a base below a March 7 high of $55.04. With the broad market weakness in recent sessions, United shares h... Read the Full Story |
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From Our PartnersSkyrocketing national debt, persistent inflationary pressures, and a government struggling to implement effective measures all serve as clear signals of an impending collapse. The implications of such an event would be nothing short of catastrophic.
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Markets | | | Qatar's sovereign wealth fund is buying a roughly 5% stake in the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics as part of a $4.05 billion deal, a person with knowledge of the sale said Thursday.The person spoke to The Associated Press on con... Read the Full Story |
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Markets | | | Investors and a wide range of retailers are taking a dim view of the remainder of 2023 and expect consumers to buckle under pressure from inflation.Macy's, Target and Dollar General are warning investors about weaker sales through the rest of the year as consumers shift their spending to essentials.... Read the Full Story |
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KB Home (NYSE: KBH) reported a solid quarter and raised guidance, but the news may not be enough to keep the market moving higher. While better than expected, the results and guidance point to a top in the housing market that some builders have already hit. KB Home produced surprise growth in Q2, ... Read the Full Story |
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Patterson Companies, Inc. (NASDAQ: PDCO) is a dual-story that includes healthcare for humans and animals. The company operates in 2 segments, Dental and Animal Health, and both are growing. The growth is good, but the outperformance relative to expectations, the cash flow, and the capital return o... Read the Full Story |
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Markets | | | Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market Read the Full Story |
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Markets | | | Opponents of Myanmar’s military government applauded fresh financial sanctions imposed by the United States on the Southeast Asian nation but called Thursday for further measures to pressure its ruling generals to restore peace and democracy. The U.S. Treasury Department announced Wednesday it was i... Read the Full Story |
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Darden Restaurants (NYSE: DRI) Q4 results and guidance were insufficient to spark a rally, but neither are they a good reason to sell the stock. The company is performing well in a tough environment and managing to improve its operations while growing. The pullback in price action following the Q4... Read the Full Story |
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Friday's Early Bird Stock Of The Day American International Group, Inc. offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance. This segment offers marine, energy-related property insurance, aviation, political risk, trade credit, trade finance, and portfolio solutions, as well as operates reinsurance business; voluntary and sponsor-paid personal accident, and supplemental health products; and personal auto and personal property insurance. Its Life and Retirement segment offers individual retirement products, including variable, fixed index, and fixed annuities, as well as retail mutual funds; group retirement products comprising record-keeping, plan administrative and compliance services, financial planning, and advisory solutions; life insurance, including term and universal life insurance; and institutional markets products, which includes wrap products, structured settlement, pension risk transfer annuities, corporate and bank-owned life insurance, high net worth, and guaranteed investment contract products. It distributes its products through a network of brokers, agents, advisors, banks, and other distributors. The company was founded in 1919 and is headquartered in New York, New York. | | View Today's Stock Pick |
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