Good MorningEquity markets advanced on Wednesday despite another cooler-than-expected economic report. The housing starts and building permits figures were weaker than expected despite a recent downtick in mortgage rates. The news indicates a slowing within the housing sector and one that could gain momentum as the year progresses. Mortgage rates are back in the 7.5% range for an average 30-year mortgage and will likely rise, given the outlook for FOMC policy. The FOMC meets in less than a week and is expected to hike rates another 25 basis points.
The S&P 500 continues to rise but is heading for a hard ceiling. How it gets is still questionable, but signs are growing that the top could be closer than many market participants realize. The next target for solid resistance is at an all-time high, which will be reached soon. At the pace the market is advancing, the all-time high could be reached by the end of the summer. If the market can't move to a new high, the odds are high that equity markets will remain range bound for the remainder of the year. Featured: IRS Loophole Allows YOU to Collect Huge Payouts From “Amazon’s Secret Royalty Program” (Legacy Research) 
|
Markets | | |
If you look at the chart of Apple’s (NASDAQ: AAPL) stock price and wonder if it can bob to another new high, the odds are high that it can do so. This is among the world’s most-followed, most-traded, and widely held names. When the economy is doing well, it goes hand-in-hand that Apple... Read the Full Story |
|
From Our PartnersAir Force Magazine calls it "transformational." The Wall Street Journal calls it one of the Pentagon's "highest priorities." National Defense Magazine reports "Eye-popping budget" for it. This small company won the first contract to build them! | | | | Get the name of the company here >>> |
|
Markets | | |
Most investors may be disappointed that the mystical firm, The Goldman Sachs Group (NYSE: GS), a name often synonymous with the creme de la creme on Wall Street, has reported declining business profitability. Regarding banking earnings this summer, there is a degree of expectancy from markets... Read the Full Story |
|
Markets | | |
Baker Hughes Company (NASDAQ: BKR) beat on the top and bottom lines in its second-quarter earnings report on July 19. Earnings per share (EPS) of 39 cents on revenue of $6.32 billion was higher than analysts' expectations for EPS of 32 cents on revenue of $6.27 billion.
However, after ... Read the Full Story |
|
From Our PartnersNow, after years of big gains, he says one popular company's day in the sun is finally coming to an end. You must get off this sinking ship – NOW. 1 million people follow him for his surprisingly accurate predictions. His new sell alert could save your wealth in 2023. | | | | More here. |
|
Markets | | |
Which burger joint has the best fries is debatable, but there's no debating that Arcos Dorados Holdings Inc. (NYSE: ARCO) is the hottest stock in fast food. Arcos Dorados translates to "Golden Arches" in English.
The world's largest independent McDonald's franchisee climbed a... Read the Full Story |
|
Markets | | | The U.S. considers building strong economic and security ties with Vietnam a priority, U.S. Treasury Secretary Janet Yellen said Thursday as she met with Vietnamese officials in a visit aimed at fortifying America's relations across Asia. Yellen arrived in Vietnam after visits to Beijing and to Indi... Read the Full Story |
|
|
Markets | | | Inflation in the U.K. has fallen by more than anticipated to a 15-month low in a development that offered struggling homeowners hope that interest rates will not rise as much as feared over the coming months Read the Full Story |
|
Markets | | | The Biden administration on Wednesday proposed new guidelines for corporate mergers, took steps to disclose the junk fees charged by landlords and launched a crackdown on price-gouging in the food industry.The announcements were discussed as part of President Joe Biden's meeting with the White House... Read the Full Story |
|
Markets | | | China Evergrande, the property developer whose woes helped bring about a slump in the country’s vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year Read the Full Story |
|
Markets | | | Bank of America said its profits grew 19% in its most recent quarter, the latest of the big banks to see its bottom line boosted by higher interest rates. The nation’s second-largest bank by assets said Tuesday that it posted a profit of $7.4 billion in the three months ended June 30, up from $6.2 b... Read the Full Story |
|
Markets | | |
As weak as the Q2 results are, shares of J.B. Hunt Transportation Services (NASDAQ: JBHT) are moving higher and could set a new all-time high by the end of the year. The results are weak due to market conditions that have corrected from pandemic-inspired levels. However, the takeaway from the repo... Read the Full Story |
|
Thursday's Early Bird Stock Of The Day Smart Share Global Limited, a consumer tech company, provides mobile device charging services in the People's Republic of China. The company provides mobile device charging services through online and offline networks; and rents power banks. It offers services through its power banks placed in points of interests (POIs) operated by its location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces. The company also offers advertising services, as well as sells merchandises through online platform or distributors. Smart Share Global Limited was incorporated in 2017 and is headquartered in Shanghai, the People's Republic of China. | | View Today's Stock Pick |
|
