Good MorningEquity markets started the week on solid footing, but the rally may not go much higher. The S&P 500 continues to trade below critical resistance, and there is a significant catalyst. The August CPI data is due on Wednesday and is expected to show a cool-down at the core level.
That said, investors should be wary of the news because an acceleration in the headline number will offset the decline in core inflation. The headline level is expected to accelerate 40 basis points compared to last month and last year due to the rise in oil prices. The takeaway is that oil and headline CPI are leading indicators for the core figure, and both are rising. If the data confirms what the market expects, it could lead to a more hawkish than expected FOMC when it reveals the policy statement next week.
Tech stocks led the day on Monday, with the NASDAQ up more than 1.0% at the session high. The move was underpinned by Tesla, which gained more than 10% in the same period. Tesla shares were boosted by an upgrade that put a $500 billion valuation on the company's newest project, the Dojo supercomputer. Featured: A Tale Of Two Americas (IPM) 
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Stocks | | | The Dividend Kings are among the safest dividend-paying stocks on Wall Street, but that doesn’t mean it’s always a good time to buy them. Like any diverse group of stocks, their prices don’t track in sync with each other as with their respective industries' strengths and th... Read the Full Story >> |
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Markets | | | In the coming weeks, AMC Entertainment Holdings, Inc. (NYSE:AMC) will be releasing “The Nun II,” “A Haunting in Venice,” “Saw X” and other buzzworthy horror thrillers. None may be as scary as its financial situation. Last week, the movie theater chain announced... Read the Full Story >> |
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Stocks | | | Ray Dalio, the former manager of Bridgewater Associates, has been widely regarded as one of the best macroeconomic investors of all time, with his fund's philosophy focused on building the perfect 'all-weather' portfolio. These strategies seek to take advantage of different economic developments w... Read the Full Story >> |
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Markets | | | Think of movies about the financial system and your mind is almost sure to go to Gordon Gekko and "Wall Street" or Leonardo DiCaprio's gyrating Jordan Belfort in "The Wolf of Wall Street."When Hollywood takes on Wall Street, it usually heads straight to the C-suite.The protagonist of "Dumb Money," t... Read the Full Story >> |
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Markets | | | Digital lodging platform Airbnb Inc. (NASDAQ: ABNB) shares gained over 7% on news of being added to the S&P 500 index on Sept. 18, 2023. It will replace Newell Brands Inc.(NYSE: NWL), heading to the S&P 600 Small-Cap index. This was great news for investors as ABNB had sold off shortly aft... Read the Full Story >> |
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Markets | | | Hardware and infrastructure solutions provider Dell Technologies Inc. (NASDAQ: DELL) has proven to be a large benefactor of the artificial intelligence (AI) wave. The company reported a large EPS beat by 60 cents for its fiscal Q2 2024, despite revenue falling 13.2%. The company raised its estimat... Read the Full Story >> |
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Markets | | | Global shares were mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. France's CAC 40 slid 0.1% in early trading to 7,270.28, while Germany's DAX shed 0.4% to 15,737.20. But Britain's FTSE 100 gained 0.4% to 7,52... Read the Full Story >> |
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Markets | | | Economic downturns are no joke. Recession throws a massive cog in the proverbial wheels of several established entrepreneurs as well as new startup owners. A recent study by Startup Genome found that a staggering 74% of startups saw their revenues plummet since the pandemic. Even more grim is how ma... Read the Full Story >> |
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Markets | | | It's never fun to find a foreign object in your food. And recently, there have been a series of recalls and contaminations of store-bought brands that have gone far beyond a stray hair.In the last few months alone, "extraneous materials" (metal fragments, rubber gaskets, insects) are among the top r... Read the Full Story >> |
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Markets | | | New Zealand's economy is expected to remain sluggish for another two years, although the overall picture is rosier than many observers had feared, new figures released Tuesday indicate.The nation's Treasury released the projections ahead of an election next month. They showed a slight deterioration ... Read the Full Story >> |
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The Early Bird Stock Of The DayTuesday: Stock Being Upgraded Intuit Inc. provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Online Advanced, a cloud-based solution; Q... | | View Today's Stock Pick |
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