Good MorningEquity markets advanced on Monday, starting the week on solid footing ahead of key economic data. Top of the list is the Retail Sales figures expected to show gains versus the previous month and last year. The caveat is that retail sales are expected to grow only 0.3% which is only slightly better than inflation. At this pace, underlying demand is barely growing and compounded by higher prices. With the Fed slated to hike rates at least another 25 bps, there is a risk that demand could turn negative and bring the economy down.
The S&P 500 continues its upward march. The index gained over 0.30% at the session's high to hit a new 1-year closing high. The index looks set to retest resistance near 4,660 and could reach that level within weeks. The question is what the market will do then, which could come down to the outlook for earnings. The FOMC is expected to hike rates, but if the outlook for 2nd half earnings improves, the market will continue to rally and set a new high. Featured: Invest in the Top Stock of 2023: Secure Long-Term Gains (Darwin) 
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Unity Software (NYSE: U) broke above a critical resistance level last week. The stock, now up 55% year-to-date, looks set to continue its impressive momentum on the year after last week's action. Despite pulling back over 5% on Friday, U still closed above the previous resistance, indicating that ... Read the Full Story |
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The June CPI report revealed that core inflation had fallen to 4.8% from 5.3% in May 2023, which the market interpreted as great news sending stocks soaring the following days. Inflation deceleration has taken many food companies by surprise. Food distributors and producers are getting hit hard on... Read the Full Story |
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Markets | | | Asian shares were mixed on Wednesday after Wall Street’s frenzy around artificial intelligence and stronger-than-expected profit reports from big financial companies helped pushed U.S. stocks to their best level in more than 15 months.Shanghai and Hong Kong fell on selling of property shares after t... Read the Full Story |
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A reversal has been brewing for Chewy, Inc stockholders (NASDAQ: CHWY), and it looks like it is about to take off. An upgrade from Goldman Sachs highlights the company’s recent strengths and suggests a complete reversal is possible. In this scenario, the market will regain the top of its con... Read the Full Story |
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GreenPower Motor Company (NASDAQ: GP) has had its share of hurdles and headwinds but has overcome the challenges. The company’s FQ4 results, which were delayed for several months, have finally been released, proving the company is building momentum and not just specialty EVs. Among the takea... Read the Full Story |
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Markets | | | Turkish President Recep Tayyip Erdogan traveled to Saudi Arabia on Monday in a three-stop tour of Persian Gulf states to seek trade and investment opportunities for Turkey’s floundering economy.Erdogan arrived in Jeddah accompanied by an entourage of some 200 businesspeople, according to the Foreign... Read the Full Story |
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It’s highly unlikely you’ve heard of Applied Optoelectronics Inc. (NASDAQ: AAOI) until maybe recently, as shares soared more than 300% on its new supply agreement with Microsoft Co. (NASDAQ: MSFT). The company is a vertically integrated optical networking product and laser manufacturer... Read the Full Story |
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Markets | | | For Sadie James, the cost-of-living crisis in Britain just never seems to ease. First, it was skyrocketing energy and food costs stemming from Russia's invasion of Ukraine. Now, the 61-year-old worries whether she can keep a roof over her head.James, who lives in south London, has struggled for year... Read the Full Story |
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Markets | | | Sean “Diddy” Combs wants to strengthen the Black dollar: The music mogul is spearheading a new online marketplace called Empower Global that will specifically feature Black-owned businesses.“I want to create our own Black Wall Street,” Combs told The Associated Press about his e-commerce platform, w... Read the Full Story |
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Markets | | | The German economy appears to have returned to slight growth in the April-June period after shrinking for two consecutive quarters, the country's central bank said Monday.Germany’s national statistics office said in late May that Europe's biggest economy contracted by 0.3% in the first three months ... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day United Airlines Holdings, Inc., through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties. The company was formerly known as United Continental Holdings, Inc. and changed its name to United Airlines Holdings, Inc. in June 2019. United Airlines Holdings, Inc. was incorporated in 1968 and is headquartered in Chicago, Illinois. | | View Today's Stock Pick |
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