Good MorningEquity markets slipped on Thursday following a round of weaker-than-expected data. While the rise in jobless claims, the shortfall in the Philly Fed MBOS, and weaker-than-expected housing data suggest softening in the economy, none were truly bearish. Jobless claims are trending at healthy levels, the Philly Fed MBOS points to economic expansion, and housing data aligns with trends. The question is whether the trends will remain in place while the FOMC waits for inflation to cool or if the economy will tip into a recession. However, the odds of a recession are low, so the market should continue to climb its wall of worry.
The next big hurdle for markets won't come until next Friday. The May read on income, spending, and consumer inflation is due and expected to align with the recent CPI data. The CPI shows inflation cooling but at a slow pace, which is unlikely to allow the FOMC to cut rates before November or at the pace markets have priced in. However, if the data aligns with cooling inflation and an FOMC pivot to lower rates, the market rally will likely continue. Featured: A way to target $500 each week? (DTI) 
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Because of how inflation in the U.S. economy has been headed lately, it isn’t consumer discretionary stocks that tend to call on the market’s attention, but rather the artificial intelligence-drunk technology names, the likes of NVIDIA Co. (NASDAQ: NVDA) and others. However, there are ... Read the Full Story |
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After showing relative strength in the first quarter, the energy sector and the Energy Select Sector SPDR Fund ETF (NYSEARCA: XLE) trended lower in the second quarter, recouping most of their gains. Now up just over 5% year-to-date, the sector is underperforming the market and its benchmark. ... Read the Full Story |
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Stocks | | | U.S. stocks coasted to the close of their latest winning week on Friday, as Nvidia ’s stock continued to cool from its startling, supernova run.The S&P 500 slipped 0.2%, but it remained close to its all-time high set on Tuesday and capped its eighth winning week in the last nine. The Dow Jones I... Read the Full Story |
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Kroger’s (NYSE: KR) long-anticipated merger with Albertsons Companies (NYSE: ACI) has been a deadweight on their stock price for years. Try as they might; they just can’t get approval, and the stock prices are wallowing within trading ranges.
The deal, blocked by the FTC, would unlo... Read the Full Story |
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Accenture (NYSE: ACN) is a global leader in professional services and technology consulting. Accenture’s third-quarter earnings revealed a company strategically positioned for growth within the rapidly evolving technological sector. While the company's earnings and revenue slightly missed Ac... Read the Full Story |
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Markets | | | Japan's exports surged 13.5% in May, faster than expected growth helped by a weak yen and strong demand in the U.S. and Asia. Finance Ministry data reported Wednesday showed that the trade deficit totaled 1.22 trillion yen ($7.7 billion), down nearly 12% from 1.38 trillion yen a year earlier. Import... Read the Full Story |
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Darden Restaurants, Inc. (NYSE: DRI) is a dominant player in the full-service dining sector. Darden operates a diverse portfolio of restaurant brands familiar to many Americans. From the iconic Olive Garden and Longhorn Steakhouse to specialty brands like The Capital Grille and Seasons 52, Darden'... Read the Full Story |
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Markets | | | World stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be slowing without falling into recession.The future for the Dow Jones Industrial Average was down 0.1% while that for the S&P 500 rose 0.1%. U.S. markets are cl... Read the Full Story |
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Markets | | | The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25% even though inflation has fallen to its target of 2%, with several policymakers warning that a premature cut could stoke another bout of price rises.For the second meeting in a row, seven of the nine members of th... Read the Full Story |
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Markets | | | Apple is discontinuing its buy now, pay later service known as Apple Pay Later barely a year after its initial launch in the U.S., and will rely on companies who already dominate the industry like Affirm and Klarna Read the Full Story |
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Friday's Early Bird Stock Of The Day Zillow Group, Inc. operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services. In addition, the company's brand portfolio includes Zillow Premier Agent, Zillow Home Loans, Zillow Rentals, Trulia, StreetEasy, HotPads, and Out East; and a suite of marketing software and technology solutions for the real estate industry, including ShowingTime+, Spruce, and Follow Up Boss. Zillow Group, Inc. was incorporated in 2004 and is headquartered in Seattle, Washington. | | View Today's Stock Pick |
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