Good MorningEquity markets retreat on Thursday after another bad economic report, and earnings from Netflix and Tesla disappointed the market. On the economic front, the Index of Leading Indicators was negative for the 15th consecutive month and worse than expected at -0.7%. That was compounded by a negative reading of the Philly Fed Survey and earnings reports from Netflix and Tesla. Both companies failed to inspire market rallies and saw their shares fall by high-single to low-double-digits, and deeper declines could be coming.
The S&P 500 fell nearly a full percent at the session's low to confirm resistance at this week's high. The move could lead to a larger decline, given the outlook for earnings has taken a hit. If the market can't regain its footing on Friday, selling could gain momentum on Monday ahead of the FOMC meeting. The FOMC is expected to hike rates by another 25 basis points, putting more pressure on the economy. In this scenario, more banks will fail, and the economy will teeter closer to the recession lurking around the corner for the last 12 months. Featured: Invest in the Top Stock of 2023: Secure Long-Term Gains (Darwin) 
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Airline giant American Airlines Group (NASDAQ: AAL) reported second-quarter 2023 earnings results. The stock is trading down 6% in early trading as investors digest the report, perhaps providing an opportunity for patient value investors to buy in.
Investing in momentum is one thing; i... Read the Full Story |
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Stocks | | | The market rally is starting to extend beyond the “Magnificent 7” tech stocks. Yet many analysts and economists still believe investors may be in for a nasty pullback before the year ends.
Market timing is difficult for the best of investors. But there’s still a solid strat... Read the Full Story |
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Markets | | | Wall Street closed out another winning week with a quiet Friday, as stocks found some stability after sliding the day before.The S&P 500 edged up by 1.47, or less than 0.1%, to 4,536.34 to cap its eighth winning week in the last 10. The Dow Jones Industrial Average added 2.51 points, or less tha... Read the Full Story |
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From Our PartnersIt's time to face the harsh reality: the stability of the dollar is no longer guaranteed. The national debt is spiraling out of control, inflation is on the rise, and the government seems powerless to rein it in. These warning signs strongly suggest an impending collapse of the dollar, with catastrophic consequences looming over us.
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As the COVID-19 peak effect periods expired in 2021 and 2022, the chip industry's severe shortages caused delays in other pockets of the economy, such as new vehicles and consumer electronic products. Almost everything relying on chips saw delayed orders and increased lead times.
As the environme... Read the Full Story |
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Markets | | | A strong stock market turnaround is helping spur a resurgence in companies going public a year after the number of Wall Street newcomers fell to the lowest level since the Great Recession.Some 55 initial public offerings, or IPOs, have priced so far this year, raising $9.7 billion in proceeds, accor... Read the Full Story |
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From Our PartnersFor investors, this may be the biggest opportunity you'll see in your lifetime. (HINT: An unusual way for you to hop on board the fast-moving AI gravy train.) | | Go HERE for details |
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Markets | | | As dubious as the signals within the housing market, stocks like D.R. Horton (NYSE: DHI) have been rallying to new highs. The rally is driven by outperformance in the face of rising rates and falling mortgage demand, and it may continue. The Q3 report is more of the same strength, but there is a cav... Read the Full Story |
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Markets | | | Fewer shipping container deliveries this spring hurt CSX railroad's second-quarter profit and offset a sharp increase in shipments of automobiles, but executives remain optimistic about the economy.CSX said Thursday that it earned $996 million, or 49 cents per share, during the second quarter. That'... Read the Full Story |
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Markets | | | The average long-term U.S. mortgage rate slipped this week to the lowest level in four weeks, a boost for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale Read the Full Story |
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Markets | | | Travelers, considered a bellwether for the insurance industry due to its size, said catastrophe losses doubled in its most recent quarter and the company swung to a loss as severe wind and hail storms in a number of regions led to rising coverage claims Read the Full Story |
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After three years of waiting, Johnson & Johnson (NYSE: JNJ) shares have returned to trend, a monumental event for the market which presents a potential buying opportunity for income investors.
Not only is Johnson & Johnson's business sound but results from competitors like ... Read the Full Story |
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Friday's Early Bird Stock Of The Day Black Diamond Therapeutics, Inc., a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma. It is also developing BDTX-4933, a brain-penetrant RAF MasterKey inhibitor targeting KRAS, NRAS, and BRAF alterations in solid tumors that is in phase 1 clinical trial. In addition, the company is developing BDTX-4876, a MasterKey inhibitor of oncogenic FGFR2/3 mutations with selectivity versus FGFR1/4, which is in preclinical stage. The company was formerly known as ASET Therapeutics, Inc. and changed its name to Black Diamond Therapeutics, Inc. in January 2018. Black Diamond Therapeutics, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
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