Good MorningEquity markets began to correct last week, which may become a deep one for two reasons. The first is because the market has begun to believe the FOMC will not cut rates soon or even this year. The PCE index confirmed the belief on Friday and helped to send the S&P 500 down more than 2.0% at the week's low. The second reason is earnings. Reports from tech giants like Salesforce and Dell and small tech names like Gitlab and MongoDB included weak guidance that points to softness throughout the tech sector.
The S&P 500 is at a peak and could correct another 5% to 10% before hitting a solid bottom. The risk is that the market will fall through critical support at the 4,990 level and enter a long-term bear market. In that scenario, the market could shed as much as 35% before reaching the final low. The question is if the economy can sustain high interest rates for another six months or if it will tip into the recession that has been on the horizon for two years. Featured: Moonshot Coins for the Current Crypto Run (Crypto 101 Media) 
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Markets | | | Volume-weighted average prices (VWAP) are on most retail trading indicator lists for a reason: They matter. Volume is one of the most critical inputs for stock prices to move in a specific direction, so investors should watch out for any unusual trading volume spikes (buying or selling volume). T... Read the Full Story >> |
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Markets | | | Who is better to judge the actual intrinsic value of a stock than the insiders themselves? When the word insider is used here, it relates specifically to management in charge of a business’s financials and capital planning. Investors tend to focus on two main ways their stock holdings give t... Read the Full Story >> |
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Markets | | | After a painfully slow two years of trading within a tight channel, Best Buy Company Inc. (NYSE: BBY) rallied by a staggering 15.5% after it reported its first quarter 2024 earnings results. The initial reaction in the stock price is accredited to the unexpected recovery seen in the consumer discr... Read the Full Story >> |
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Markets | | | The current economic environment is characterized by a complex and volatile mix of inflation, shifting consumer preferences and persistent whispers of a potential recession. The earnings reports from major retail sector players reflect the financial performance of each company, but collectively, t... Read the Full Story >> |
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Markets | | | Activist investor Carl Icahn has made headlines again with a significant position in casino operator Caesars Entertainment (NASDAQ: CZR). This revelation caused a notable surge in Caesars' stock, which jumped 15% following the announcement. While the exact size of Icahn's stake remains undisclosed... Read the Full Story >> |
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Markets | | | Saudi Arabia said Friday it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019.Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure on... Read the Full Story >> |
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Markets | | | World shares began June mostly higher after a report showing that inflation in the U.S. is not worsening drove a rally on Wall Street. In early trading Monday, Germany's DAX advanced 1% to 18,728.00 and the CAC 40 in Paris climbed 0.6% to 8,040.94. Britain's FTSE 100 added 0.4% to 8,313.50.The futur... Read the Full Story >> |
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Markets | | | Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven't risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members of the producers cartel ... Read the Full Story >> |
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Markets | | | Storied Premier League club Everton faces an uncertain future after a proposed takeover by American investment firm 777 Partners collapsed on Saturday.The Miami-based private investment firm reached a deal in September to buy out Everton's majority shareholder, Farhad Moshiri, who has a 94.1% stake.... Read the Full Story >> |
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Markets | | | Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. That's more than expected as a painful spike in consumer prices takes its time to fade away.It's unlikely to stop the European Central Bank from making a first interest rate cut next week — and moving ah... Read the Full Story >> |
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Monday's Early Bird Stock Of The Day Zscaler, Inc. operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds. It also provides Zscaler Digital Experience... | | View Today's Stock Pick |
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