Good MorningThe S&P 500 edged higher on Tuesday to set another fresh all-time high and may continue to move higher, although the risk of a price correction grows daily. The market's rise is driven by momentum and analysts' upgrades of NVIDIA, making it extended and vulnerable to a sell-off. In this scenario, the market could begin to pull back at any time, and the retreat could be sharp. The caveat for investors is that a full-blown market reversal and bear market are unlikely, so staying the course is the best option.
The S&P 500 is set up for a price correction but not a reversal, which means the next major price drop is a likely entry point for new money. The earnings outlook supports the uptrend, and it is robust. The only thing that can derail the market now is a shift in expectations, which is unlikely without a change in the fundamentals. As it is, the next change in fundamental conditions should be an interest rate cut by the FOMC, which should come by the end of the year.
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Markets | | | As the temperature rises and thoughts turn to summer vacations, investors also look for ways to keep their portfolios generating warmth. One effective strategy for achieving this goal is investing in dividend stocks, a reliable source of passive income that can provide both current returns and the... Read the Full Story >> |
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Markets | | | The cybersecurity sector is rapidly transforming, marked by an increasingly sophisticated and persistent threat from cybercriminals. As businesses become increasingly reliant on digital infrastructure, the consequences of a successful cyberattack are becoming more severe, impacting financial stabi... Read the Full Story >> |
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Markets | | | Soligenix Inc. (NASDAQ: SNGX), a late-stage biopharmaceutical company, experienced an astonishing surge Tuesday. At the time of writing, the stock had soared nearly 400%. This dramatic increase, accompanied by a substantial rise in trading volume, warrants a closer look at the catalyst behind th... Read the Full Story >> |
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Markets | | | Drug prices continue to rise, driving up healthcare costs. Pharmaceutical companies usually hike drug prices at the beginning of each year. In January 2024, the average price hike was 5.4% on over 700 brand drugs. Their generic versions are alternatives to brand drugs, which come at a significant ... Read the Full Story >> |
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Markets | | | Jumia Technologies (NYSE: JMIA) stock is jumping, and the move is the start of a much larger rally that could last for decades. Today, Jumia is a small, African-based eCommerce portal. Over time, it will grow into a giant. African economies are projected to grow at a globe-leading average of 3.7% ... Read the Full Story >> |
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Markets | | | Shares advanced in Europe on Wednesday after most markets in Asia declined, although Tokyo's Nikkei 225 index closed at another record high.Investors are awaiting comments by Federal Reserve Chair Jerome Powell to a congressional committee and looking ahead to earnings reports.Germany's DAX gained 0... Read the Full Story >> |
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Markets | | | Japan's Nikkei 225 share index closed Wednesday at another record high, gaining 0.6% to end trading at 41,831,99. That followed a record close on Tuesday, as world markets tracked gains on Wall Street. The Nikkei 225 index also hit a record intraday high on Wednesday of 41,889.16 as it bounced throu... Read the Full Story >> |
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Markets | | | The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue Read the Full Story >> |
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Markets | | | The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony to Congress, a shift in emphasis away from the Fed's single-minded fight against inflation that suggests it's moving closer to cutting interest rates Read the Full Story >> |
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Markets | | | Shares were mixed Wednesday in Asia after remarks by Federal Reserve Chair Jerome Powell in front of Congress did little to change investors' expectations for the timing of a Fed interest rate cut.Tokyo's Nikkei 225 index touched a fresh intraday trading high but fell back, edging 0.1% lower to 41,5... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits. It also provides trust and wealth services, such as personal trusts, custodial accounts, investment management accounts, and retirement accounts, as we... | | View Today's Stock Pick |
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