Good MorningEquity markets pulled back on Thursday following the Fed's Wednesday policy statement. The statement sent the yield on the 10-year treasury shooting skyward to set a new multi-year high, and the threat of recession grows. At the new levels, the rate on the 30-year mortgage will also rise and soon top 8%. At this level, homeowners signing contracts for new mortgages will be paying nearly 3 times as much interest payments as at the bottom of the pandemic, which threatens the housing market. With rates at these levels, existing homeowners are unlikely to move without cause, keeping the market tight.
The S&P 500 shed more than 1.50% at the session's low and is in danger of a more profound decline. The index is above critical support at the 150-day moving average, which may not hold. In that scenario, the S&P 500 could fall another 5% or more before hitting bottom. The next significant catalyst is the PCE report due next week. Another hot read on inflation will ensure the FOMC hikes rates at the next meeting. Featured: This is the #1 Stock to Buy for the AI Tidal Wave (Chaikin Analytics) 
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As the United States economy begins to pivot into what could be considered a 'hard landing,' the wealth gaps and distribution begin to upset specific members of the economy.
The United Auto Workers (UAW) members have gone on strike during most of September, demanding that their wages rise due to ... Read the Full Story |
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Regarding medium-cap technology companies, finding a stock that has performed as impressively and consistently throughout the year as AppLovin (NYSE: APP) might be difficult. Remarkably, year-to-date, shares of the software technology company increased in the triple digits, up over 273% to be exac... Read the Full Story |
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In a world obsessed with TV sensation “Shark Week” and viral kids song “Baby Shark,” SharkNinja, Inc. (NYSE:SN) is producing some thrills of its own. Shares of the consumer appliances maker are up more than 50% since August 4th — and becoming a popular momentum bet am... Read the Full Story |
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One stock in particular that has displayed impressive relative strength in recent days compared to the overall market and its sector is Akamai Technologies (NASDAQ: AKAM).
While the overall market, SPDR S&P 500 ETF Trust (NYSE: SPY), is down close to 4% on the week so far, shares of AKAM are ... Read the Full Story |
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Stocks | | | Wall Street wheezed to more losses Friday as it limped to the finish of its worst week in six months. The S&P 500 slipped 9.94 points, or 0.2%, to 4,320.06 after a late-day swoon erased a modest gain it had held for most of the day. It capped an ugly slide caused by Wall Street's growing underst... Read the Full Story |
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Amazon (NASDAQ: AMZN) is not a cheap stock, but there are indications it is undervalued. The company's transition to CEO Andy Jassy resulted in significant traction and, more importantly, an expectation for wider margins that engage the market at all levels. What this means for investors is that o... Read the Full Story |
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Markets | | | California will let insurance companies consider climate change when setting their prices, the state's chief regulator announced Thursday, a move aimed at preventing insurers from fleeing the state over fears of massive losses from wildfires and other natural disasters.Unlike other states, Californi... Read the Full Story |
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Markets | | | The average long-term U.S. mortgage rate edged up again this week, another setback for would-be homebuyers navigating an increasingly less affordable housing market.The average rate on the benchmark 30-year home loan rose to 7.19% from 7.18% last week, mortgage buyer Freddie Mac said Thursday. A yea... Read the Full Story |
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Markets | | | Turkey’s central bank raised its key interest rate by 5 percentage points Thursday, another large but expected hike that signals a continued push toward more traditional economic policies under President Recep Tayyip Erdogan.The bank hiked its policy rate to 30%, saying it has kept up the “monetary ... Read the Full Story |
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Markets | | | The Bank of England on Thursday joined the U.S. Federal Reserve in pausing interest rate increases after a surprising fall in U.K. inflation eased concerns about the pace of price rises.In a development that few predicted just two days ago, the central bank kept its main interest rate unchanged at a... Read the Full Story |
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Friday's Early Bird Stock Of The Day ModivCare Inc., a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The company offers risk underwriting, contact center management, network credentialing, claims management, and non-emergency medical transport management services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services. It also provides in-home personal care services, such as bathing, personal hygiene, grooming, oral care, dressing, medication reminders, meal planning, preparation and feeding, housekeeping, transportation services, prescription reminders, and assistance with dressing and ambulation services through placing non-medical personal care assistants, home health aides, and skilled nurses primarily to Medicaid patients in need of care monitoring and assistance in performing daily living activities, including senior citizens and disabled adults. In addition, the company offers remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, medication management, and data-driven patient engagement solutions. It serves federal, state, and local government agencies, MCOs, commercial insurers, private individuals, and health systems. The company was formerly known as The Providence Service Corporation and changed its name to ModivCare Inc. in January 2021. ModivCare Inc. was incorporated in 1996 and is headquartered in Denver, Colorado. | | View Today's Stock Pick |
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