Good MorningInvestors got a dose of good news with Thursday's CPI report. The data was cooler than expected on a month-to-month and year-over-year basis, aligning with the expectation that the FOMC would cut rates at least once this year. The data from the CME suggests two cuts are possible by December, which is now the hope.
The bad news is that the CPI data was a sell-the-news event. The S&P 500 surged initially but opened weakly and moved lower throughout the day, closing with a loss of nearly 1%. The silver lining is that the S&P 500 is extended and needs a periodic correction to alleviate overbought conditions. This means the pullback, should it deepen, is reasonable considering the long-term outlook and should result in a buying opportunity soon. Featured: Tim Sykes' Urgent Trade Alert: "Make this move now" (Timothy Sykes) 
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Markets | | | It is no secret now that while most of the market is focused on the developments inside the technology sector, particularly around stocks exposed to the wave in artificial intelligence, other extremes in the market are feeling a bit of pain. Some of these forgotten and beaten down sectors include ... Read the Full Story >> |
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Markets | | | MicroStrategy (NASDAQ: MSTR) is a leader in business intelligence and analytics, but the company has carved a unique niche for itself through its aggressive embrace of Bitcoin (BTC). On July 11, 2024, MicroStrategy announced a 10-for-1 stock split, which has sparked significant interest among in... Read the Full Story >> |
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Stocks | | | Asian stocks were mixed Friday with the yen moved between gains and losses after the latest update on inflation bolstered Wall Street's belief that relief on interest rates may come as soon as September.U.S. futures were mixed and oil prices rose.The USD/JPY currency dropped 2.1% overnight and trade... Read the Full Story >> |
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From Our PartnersCould Elon's New Device be Bigger than the iPhone?
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Stocks | | | Global stocks are mixed, with the Japanese yen losing some of its gains after the latest U.S. update on inflation bolstered Wall Street's belief that relief on interest rates may come as soon as September Read the Full Story >> |
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Markets | | | The housing market has faced headwinds in recent times, primarily due to the impact of rising interest rates. This surge in borrowing costs has slowed down homebuying activity, leading to a decline in homebuilder stock prices. However, recent economic indicators suggest a potential shift in the ma... Read the Full Story >> |
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Markets | | | Conagra Brands (NYSE: CAG) is a North American food industry leader and is considered part of the consumer staples sector. Conagra Brands’ earnings report for the fourth quarter of 2024 shows evidence of a company that continues to navigate a challenging and shifting consumer landscape. ... Read the Full Story >> |
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Markets | | | Americans are traveling in record numbers this summer, but Delta Air Lines said Thursday that it saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry.The airline is also predicting a lower profit than Wall Street expects for the third quarter... Read the Full Story >> |
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Markets | | | PepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks Read the Full Story >> |
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Markets | | | The average rate on a 30-year mortgage fell slightly this week, providing modest relief for home shoppers facing record-high home prices.The rate fell to 6.89% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.96%.The average rate has mostly hovered around 7% ... Read the Full Story >> |
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Markets | | | Trend-following is one of the most basic and widely used technical trading strategies because it works. AZZ Inc. (NYSE: AZZ) sends a signal to trend-following investors: a solid, sizeable green candle confirming support at a critical level that coincides with a long-term moving average. T... Read the Full Story >> |
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Friday's Early Bird Stock Of The Day ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment ... | | View Today's Stock Pick |
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