🤦‍♀️Why the Market May Face a Bigger Selloff as Earnings Season Unfolds

Good morning. While the stock market is likely to rally as soon as the Federal Reserve announces...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. While the stock market is likely to rally as soon as the Federal Reserve announces they're done raising interest rates, that still leaves the possibility for a further decline in the months ahead until that happens. One big reason for such a decline may be the fact that earnings are clearly dropping. Walmart (WMT) warned on its full-year sales numbers, and was hit hard by he market on Tuesday. That may just be the start for corporate America, and many Wall Street analysts have yet to cut their earnings forecasts. That could make for a second half of a market decline in the coming months. Either way, the data is still pointing to a lot of stress in the market right now, so traders shouldn't give up on bearish opportunities like put options quite yet. Now here's the rest of the news: Sponsored Content What Is the Next Gen Coin? Experts are saying it will be 20 times bigger than bitcoin at its all-time high. Get the full story here. MARKETS DOW 31,761.41 -0.71% S&P 3,921.02 -1.16% NASDAQ 11,562.57 -1.87% *As of market close • Stocks declined on Tuesday, as earnings reports came in largely negative. • Oil dropped 1.7 percent, closing at $95.02 per barrel. • Gold traded flat, last going for $1,716 per ounce. • Cryptocurrencies trended lower, with Bitcoin at $20,912 at the stock market close. Today's TOP TIPS Beat the Bear Market with Safe Companies Now Traders have largely priced in a recession, with slowing growth all but certain for some time to come. The slowdown is being done in order to combat high inflation. Part of that is to lower prices. That could cause some big changes for retail companies. Investors already saw Walmart (WMT) warn that they would miss their full-year profit target, as a number of items would have to go on sale in order for the company to clear its excess inventory. » FULL STORY Insider Trading Report: Alta Equipment Group (ALTG) B. Riley Financial, a major holder at Alta Equipment Group (ALTG), recently added 20,243 shares. The buy increased the fund's stake by 0.3 percent, and came to a total purchase price of just under $205,000. The fund has been a regular buyer of shares over the past few months. Plus, back in May, two directors and the company CEO were also buyers as well. The last insider sale occurred in late 2021. » FULL STORY Unusual Options Activity: Abbott Laboratories (ABT) Shares of medical diagnostic device company Abbott Laboratories (ABT) are down just under 10 percent in the past year. One trader is betting that shares will trend lower in the coming months. That's based on the November $80 puts. With 114 days until expiration, 11,118 contracts traded compared to a prior open interest of 118, for a massive 118-fold rise in volume on the trade. The buyer of the puts paid $0.68 to make the trade. » FULL STORY IN OTHER NEWS • IMF Lowers Global Economic Forecast The International Monetary Fund is lowering its global forecast. The IMF is doing so as it downgrades expectations for China, Europe, and the United States. With an ongoing global conflict, high inflation, and tightening monetary policy, global growth has been reduced from expectations of 6.1% to just 3.2% this year. • Consumer Confidence Sinks in July Consumer confidence came in at 95.7 in July, according to the Conference Board. That's lower than expectations for a read of 98, and a sizeable drop from June's data, which came in at 98.4. Consumers report that they're less inclined to spend more as prices continue to rise. The data marks the third consecutive monthly decrease in consumer confidence. • Natural Gas Hits Highest Prices Since 2008 Natura gas prices topped $9.75 per million British thermal units, the highest price since July 2008. High temperatures are increasing the price for fuel, and as Europe looks to move away from Russian-based fuels. The price surge has led to natural gas prices soaring 77 percent so far this month, the best month on record going back to 1990. • Senate Looks to Advance Chip Bill The US Senate has voted to advance a bill that would increase US production of semiconductors. The bill has bipartisan support, and is on track to provide about $280 billion in subsidies and research funding for semiconductor companies that move their operations back to the United States. • Shopify Announces Layoffs Shopify (SHOP) has announced that it's looking to lay off about 1,000 employees, or nearly 10 percent of its workforce. The move comes as the company expanded its workforce during Covid, amid a rapid increase in online sales. This marks the first big round of layoffs at the company since it was founded in 2006 S&P 500 MOVERS TOP MMM 5.406% GE 4.999% ADM  4.404% FISV 4.196% ARE 3.873% BOTTOM FTNT 8.131% WMT 7.789% CCL 7.135% SIVB  6.555% DLTR 6.496% Quote of the Day I think that there's going to be a bifurcated market. I think the bottom might be in certain stocks, but nowhere in others. So this actually could be one of the most dynamic earnings seasons we've seen in a long time. - Avery Sheffield, analyst at VantageRock Capital, on why this earnings season may cause some stocks to perform well, while others break down to new lows in the coming months. Sponsored Content What Is the Next Gen Coin? Experts are saying it will be 20 times bigger than bitcoin at its all-time high. Get the full story here. Not sure the best way to get started? 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