Good MorningEquity markets tried to rebound on Thursday, lifting the S&P 500 by nearly 1% at the session's high, but the move was short-lived. Selling resumed later in the day, driving the index to a new low and confirming resistance at a critical level. That level is near 5,500 and may cap gains for the market for the remainder of the summer.
The risk for markets now is that selling for the sake of selling will take control. The S&P 500 chart is on the verge of a Death Cross, a bearish signal for traders. A Death Cross forms when a short-term moving average crosses over a longer-term moving average, a move that could compound day-trader selling with selling by institutions and other large investors. In this scenario, the S&P 500 decline could gain momentum and reach 20% or more before hitting bottom. Featured: How to automate your options trades (DTI) 
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Markets | | | Some names in the retail and apparel sectors have made a splash in investors’ monitors in recent weeks, even months. Unfortunately, the attention is founded on seriously bearish price action, like the fact that shares of Lululemon Athletica Inc. (NASDAQ: LULU) are now trading at only 48% of ... Read the Full Story >> |
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Stocks | | | As earnings season unfolds and several mega-cap tech stocks, including members of the "Magnificent Seven," have reported, the overall market and tech sector have seen significant declines in recent weeks. The XLK technology sector ETF has dropped nearly 6% this month and is now down over 10% from ... Read the Full Story >> |
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Stocks | | | A widespread rally swept Wall Street Friday, lifting far-reaching corners, to close a tumultuous week where stocks that had been left behind for much of this year's record-setting run wrested the spotlight back from the market's biggest stars.The S&P 500 jumped 1.1% for its best day in seven wee... Read the Full Story >> |
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Markets | | | Suddenly, smaller stocks seem to be making bigger noise on Wall Street.After getting trounced by their larger rivals for years, some of the smallest stocks on Wall Street have shown much more life recently. Hopes for coming cuts to interest rates have pushed investors to look at smaller stocks throu... Read the Full Story >> |
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Markets | | | ServiceNow Inc. (NYSE: NOW), a leading provider of cloud-based software solutions, has recently made headlines with a notable 15% surge in its stock price following a strong earnings report. This impressive gain brings its year-to-date performance to nearly 20%, and the stock has just bro... Read the Full Story >> |
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Healthcare | | | Molina Healthcare, Inc. (NYSE: MOH) is a leading provider of managed healthcare services, primarily focusing on government-sponsored programs such as Medicaid and Medicare. Molina Healthcare’s earnings report for the second quarter was released, and it sent shockwaves through the market, p... Read the Full Story >> |
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Markets | | | 3M’s (NYSE: MMM) rebound is gaining momentum because of surprisingly good results. Today’s story is that repositioning efforts are taking hold and driving improved profitability while litigation risks dwindle. The takeaways from the Q2 report include better-than-expected top and bottom... Read the Full Story >> |
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Markets | | | The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates in September Read the Full Story >> |
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Markets | | | A key question is looming for Vice President Kamala Harris as she edges closer to gaining the Democratic presidential nomination: Can she turn the Biden-Harris economic record into a political advantage in a way that President Joe Biden failed to do Read the Full Story >> |
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Markets | | | Shares of Ford Motor Co. are tumbling Thursday after the automaker's second-quarter adjusted profit badly missed Wall Street's expectations as it spent more money fixing customers' cars and trucks.Late Wednesday Ford reported an adjusted profit of 47 cents per share. That was far short of industry a... Read the Full Story >> |
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