Good MorningEquity markets rallied on Thursday on stronger-than-expected retail sales. Retail sales accelerated to 0.6% MoM from the prior read and suggest continued resilience in the US economy. Likewise, the latest read on the Fed's GDP shows US GDP advancing nearly 5.0% in Q3, a double-edged sword for the market. With CPI hot, PPI hot, and oil prices up, it's hard not to think the gains are underpinned by higher prices rather than actual demand. This means an increasing chance for additional FOMC interest rate hikes and another nail in this market's coffin.
The S&P 500 increased nearly 1.0% on Thursday's news, but there is a significant hurdle overhead. The market moved higher but is still below the critical 4,545 level, which could provide stiff resistance. The next major catalyst is the FOMC meeting next week; if the market confirms resistance at that level following the policy announcement, a significant correction will likely follow. Featured: The single greatest medical breakthrough of all time? (Behind the Markets) 
|
Markets | | |
Not very often do investors get the opportunity to buy an industry leader at a discount; today, shares of Shutterstock (NYSE: SSTK) are bringing what could be the deal of the cycle, yet people need to be talking about it. Is there any reason for the secrecy?
Perhaps because the top three owners o... Read the Full Story |
|
From Our PartnersStore your money with Cash Reserve, a high-yield account built for peace of mind. New customers earn 5.25% variable APY*—that’s 13x higher than the national savings rate.** Plus, your money’s FDIC-insured up to $2M† at our program banks and no limits on withdrawals and transfers.
**The national average savings account interest rate is reported by the FDIC (as of 5/15/23) as the average annual percentage yield (APY) for savings accounts with deposits under $100,000. | | | | Learn More |
|
Markets | | |
WeWork (NYSE: WE) experienced a remarkable surge of 62.15% on Tuesday, briefly surpassing the 100% mark intraday despite the absence of any significant news catalyst.
The driving force behind this dramatic uptick was the extraordinary trading volume, reaching an impressive 61.5 million shar... Read the Full Story |
|
Markets | | |
Resilient American consumers. Below normal valuations. Moderating inflation. Artificial intelligence. They're all adding up to a fantastic 2023 for U.S. equities.
Interestingly, this year’s rally has been a bit of a self-fulfilling prophecy. Rising stock prices are prompting investors... Read the Full Story |
|
From Our PartnersAre you searching for a lucrative investment opportunity in today's unpredictable market? We have the perfect solution for you: the alternative energy sector, promising an incredible 15x return on investment.
By clicking link you are subscribing to The Darwin Investor Network and may receive up to 2 additional free bonus subscriptions. Unsubscribing is easy. Full disclosures found here.
| | Click here to access our report |
|
Markets | | |
On August 24, World Wrestling Entertainment, Inc. (NYSE: WWE) was like a beefy man in tights standing atop the ropes in preparation for a takedown. The specialty media group had just announced record ticket sales for the upcoming 'WrestleMania 40' at Lincoln Financial Field in Philadelphia. Its st... Read the Full Story |
|
Stocks | | | Wall Street capped a choppy week of trading with a broad slide for stocks Friday, giving the S&P 500 its second losing week in a row. The benchmark index fell 1.2%, its first loss in three days. The Dow Jones Industrial Average dropped 0.8% and the Nasdaq composite gave back 1.6%. U.S. automaker... Read the Full Story |
|
|
Markets | | | Asian shares advanced Friday, with solid gains for Chinese markets after the central bank eased the reserve requirements for banks to encourage more lending and prop up the slowing economy.Hong Kong's Hang Seng surged 1.3% to 18,280.11 and the Shanghai Composite index was up 0.4%, at 3,138.94. Late ... Read the Full Story |
|
Stocks | | |
Despite coming close to topping last year's highs, restaurant stocks, as measured by the exquisitely ticketed Invesco Food & Beverage ETF (NYSEARCA: PBJ), have been having a sluggish 2023. Higher wages, rising borrowing costs, and a drop in consumer spending are just some of the headwinds... Read the Full Story |
|
Markets | | | Shares of U.K. chip designer Arm Holdings rose almost 25% in their stock market debut, in the largest initial public offering of shares in nearly two years.The shares opened at $56.10 on the Nasdaq Thursday after having been priced at $51. They closed at $63.59, giving Arm a market value of $68 bill... Read the Full Story |
|
Markets | | | The average long-term U.S. mortgage rate edged up this week, pushing up borrowing costs for prospective homebuyers already facing a housing market limited by a dearth of homes for sale and rising prices Read the Full Story |
|
Markets | | | China's factories picked up their pace and retail sales also gained momentum in August, the government reported Friday, suggesting the economy may be gradually recovering from its post-pandemic malaise. However, despite busy activity in restaurants and stores, the figures showed continuing weakness ... Read the Full Story |
|
Friday's Early Bird Stock Of The Day Inhibrx, Inc., a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency. It also develops INBRX-109, a tetravalent therapeutic candidate targeting death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, colorectal cancer, ewing sarcoma, and pancreatic adenocarcinoma; and INBRX-106, a hexavalent agonist of OX40 for a range of oncology indications. The company has license and collaboration agreements with 2seventy bio, Inc. and Bristol-Myers Squibb Company. Inhibrx, Inc. was incorporated in 2009 and is headquartered in La Jolla, California. | | View Today's Stock Pick |
|
