Good MorningThe S&P 500 advanced on Tuesday but remains within a narrow range it has held for the last two weeks. The consolidation is a healthy move for the market, allowing overbought conditions to recede ahead of the Q2 earnings reporting season. The index should move higher because the average index stock is expected to produce accelerating growth relative to Q1. If not, a correction may form, and a buying opportunity may be set up for gains later in the year.
The outlook for the second half is improving. Analysts are forecasting another 15% increase in the S&P 500 driven by big tech. AI is the central theme: NVIDIA and Microsoft will be the key reports, but a broader rally in tech is expected. Widening use cases will improve earnings for those able to monetize AI, such as Apple, Meta Platforms, and Alphabet. Because these stocks are led higher by analysts and have a potential for 15% to 20% upside, the index could rise to 6,100 or higher. Featured: Who are Nvidia's Silent Partners? (Weiss Ratings) 
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Markets | | | The technology sector continues to drive the overall market higher, with cybersecurity stocks presenting intriguing setups. Software infrastructure and cybersecurity stocks have performed modestly year-to-date, aligning with the broader market. The Amplify Cybersecurity ETF (NASDAQ: HACK) is up ne... Read the Full Story >> |
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Markets | | | Onsemi (NASDAQ: ON) share price struggles in 2024, but the bottom is in, and a rebound is at hand. While sales will decline in 2024, the cause is macro, including end-market inventory, and an end to the pain is near. Analysts forecast a bottom in Onsemi end semiconductor markets, suggesting a pivo... Read the Full Story >> |
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Markets | | | The S&P 500 (NYSEARCA: SPY) can continue to climb its wall of worry because its foundation is built on earnings growth. The bricks are made from FOMC and inflation news bites, which sustain a low level but subsiding fear. The bricks may grow heavy enough to keep the market from rising more, ... Read the Full Story >> |
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Markets | | | TikTok and its bite-sized videos arrived in the United States as a global version of the Chinese app Douyin. Less than six years later, the social media platform is deeply woven into the fabric of American consumerism, having shortened the shelf life of trends and revamped how people engage with foo... Read the Full Story >> |
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Markets | | | Global shares were mostly higher on Wednesday after comments by Federal Reserve chief Jerome Powell raised hopes for interest rate cuts.Speaking at a conference of central bankers in Portugal a day earlier, Powell gave a nod to improvements in inflation data after some disappointingly high readings ... Read the Full Story >> |
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Markets | | | Japan issued its first new banknotes in two decades Wednesday, yen packed with 3-D hologram technology to fight counterfeiting.Prime Minister Fumio Kishida praised as "historic" the state-of-the-art anti-counterfeit traits of the new 10,000 yen, 5,000 yen and 1,000 yen bills."I hope the people will ... Read the Full Story >> |
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Markets | | | U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market.Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department reported Tuesday. April openings were ma... Read the Full Story >> |
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Markets | | | Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate.The figure released Tuesday was down from 2.6% in May, welcome ... Read the Full Story >> |
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Markets | | | CrowdStrike Holdings (NASDAQ: CRWD) is a technology firm specializing in AI-powered cybersecurity. It has recently seen massive share price growth, up 162% in the last 12 months. Since going public in 2019, the firm has had a total return of 573% and is now the 8th largest software company... Read the Full Story >> |
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Markets | | | McCormick & Company (NYSE:MKC) is in the consumer staples sector and is the 8th largest US food products company by market capitalization. The firm reported Q2 2024 earnings on Jun. 27, 2024. The firm beat earnings per share (EPS) estimates by 10 cents, equating to an earnings surprise of 17... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies. The Production Chemical Technologies segment offers onshore, offshore, and oil sands chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion bre... | | View Today's Stock Pick |
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