Good MorningEquity markets resumed selling on Thursday, reversing the post-FOMC rally, confirming that the CPI data was a sell-the-news event triggering market rotation. The S&P 500 fell nearly 2% at the session's low, confirming resistance at a lower level, setting the market up for a deeper fall. The bad news is that selling may persist through September and into the Q3 earnings reporting season; the good news is that the market is setting up for a broader rally than we've seen recently, and it could last for years.
The hardest hit are the big tech stocks like NVIDIA and Microsoft, which have led the market for the last two years. Even the impressive results from Facebook's parent company, Meta Platforms, could not maintain the stock's upward trend. The way the market looks on the charts, the next round of selling could be vigorous and take the S&P 500 down by another 4% by the end of August. Featured: The asset beating inflation by 4x (Colonial Metals) 
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Markets | | | The broader stock market is causing investors a little pain to start the month of August, as the S&P 500 is declining by as much as 0.75%. The NASDAQ is lowering by over 1%, despite the Federal Reserve (the Fed) announcing that an interest rate cut is on the table for September 2024 and the CM... Read the Full Story >> |
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Markets | | | Generac Holdings Inc. (NYSE: GNRC) delivered a solid second-quarter earnings report that included raising its full-year outlook for revenue and earnings. But this looks like a sell-the-news event. GNRC had climbed to a 52-week high before the earnings report, but the results don’t seem to ... Read the Full Story >> |
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Markets | | | First Solar's (NASDAQ: FSLR) stock price was corrected to lower levels in early summer because of mounting concerns centered on political risk, but its operational quality continues to shine. The upcoming election threatens the solar market in several ways but nothing to offset the growing deman... Read the Full Story >> |
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Markets | | | Japan's benchmark Nikkei 225 index sank 5.8% on Friday in what some reports said were the worst single-day loss since Black Monday of 1987. The drop of more than 2,000 points to its close at 35,909.70 left the index near where it was in January, erasing huge gains that had taken the Nikkei index pas... Read the Full Story >> |
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Markets | | | Shares in Europe and Asia tumbled Friday, with Japan's Nikkei 225 index slumping 5.8% as investors panicked over signs of weakness in the U.S. economy. Bracing for a highly anticipated employment report coming on Friday, the future for the S&P 500 was down 1.3%, while that for the Dow Jones Indu... Read the Full Story >> |
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Markets | | | Chipmaker Intel says it is cutting 15% of its huge workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.In a memo to staff, Intel Corp. CEO Pat Gelsinger said Thursday the company plans to save $10 billion in 2025."Simply ... Read the Full Story >> |
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Markets | | | Shares fell Friday in Asia, with Japan's Nikkei 225 index slumping nearly 4.7% before regaining some ground. The declines followed a retreat in U.S. stocks after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy's growth. Th... Read the Full Story >> |
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Markets | | | Exxon Mobil recorded one of its largest second-quarter profits in a decade on record quarterly production from oil and gas fields in Guyana and the Permian basin in the U.S., and its $60 billion acquisition of Pioneer Natural Resources. The energy company earned $9.24 billion, or $2.14 per share, fo... Read the Full Story >> |
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Markets | | | Mastercard (NYSE: MA) is the third largest company in the United States financial services industry, with a market capitalization of $431 billion. The firm released Q2 2024 financial results on July 31, 2024. We will review key points from the earnings release and explain the company's diverse r... Read the Full Story >> |
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Markets | | | Altria Group (NYSE: MO) is one of the world’s “Big Three” tobacco companies and is in the consumer staples sector. Let's examine the firm’s business segments and the state of the cigarette market. We'll then review its Q2 2024 earnings report and examine the company’s... Read the Full Story >> |
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