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: He put $213,000 into this Bitcoin Loophole (DTI) 
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Markets | | | Most investors would look at consumer staples stocks for protection against the whipsaws that the market can bring during cycles. While this theory tends to work over time and has worked over time, it is a widely accepted model. However, markets aren’t a simple model. They are dynamic, and e... Read the Full Story >> |
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Markets | | | The second quarter of the 2024 earnings season has just kicked off, and the financial sector is again under the spotlight. Bank stocks are leading the pack in letting markets know how the economy is doing so far into the year's second half. However, not all bank stocks are made equal. There are ty... Read the Full Story >> |
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Markets | | | Reddit, Inc. (NYSE: RDDT) has been on an impressive run, recently achieving a new all-time high and up almost 40% YTD. The question now is whether this momentum and sector outperformance can continue after the stock pulled back nearly 10% from its recent highs and has a growing short interest.&n... Read the Full Story >> |
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From Our PartnersAs central banks increase their gold reserves, savvy investors are following suit, seizing the opportunity to bolster their portfolios. Last year alone, central banks acquired a staggering 1,037 tons of gold, nearing record-breaking levels. Warren Buffett himself allocated over $500 million to gold investments. | | | | Claim your complimentary guide today |
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Markets | | | U.S. stocks rose Friday after some mixed signals on big banks' profits and inflation did little to dent Wall Street's belief that easier interest rates are on the way.The S&P 500 climbed 0.6% to close its fifth winning week in the last six. The Dow Jones Industrial Average rose 247 points, or 0.... Read the Full Story >> |
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Markets | | | JPMorgan Chase & Co. (NYSE: JPM) shows a Rising Wedge Pattern. Like all technical patterns, it is never 100% correct but often signals a bearish reversal in the underlying market. A rising wedge occurs at the end of an uptrend and consists of two rising but converging trend lines that end at... Read the Full Story >> |
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From Our PartnersLook 2023 kind of sucked from a trading standpoint…
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Markets | | | As temperatures rise and consumers seek refreshment, the beverage industry and consumer staples sector gears up for its busiest season. Summer often brings increased sales and heightened investor interest in beverage stocks. The "Summer Beverage Wars" are heating up this year, with three key playe... Read the Full Story >> |
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Markets | | | Signs of consumers slowing down their spending and falling behind on their bills weighed down shares of the big banks on Friday. JPMorgan Chase and Wells Fargo saw their adjusted profits fall, while Citigroup saw sluggish spending on its credit cards. The major banks have benefitted from higher inte... Read the Full Story >> |
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Markets | | | Joemar Flores, a spindly 28-year-old, gestured across his family's farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance.They're still there, producing food and an income for him, thanks in part to a novel form of insurance that is increasin... 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 | | | 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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