Good MorningEquity markets hovered near record highs for the third day on Wednesday as traders waited on the most critical data reading this quarter, the PCE Price Index. The PCE is the FOMC's favored tool to gauge consumer-level inflation and is expected to be hot. Analysts forecast a sequential increase at the headline and core levels, keeping the YOY comps well above the Fed's target range. At these levels, the Fed will unlikely cut rates before June and may wait until after the summer.
In this scenario, the S&P 500 is unlikely to experience the robust earnings growth acceleration forecasted for this year, a potential catalyst for a massive sell-off. The S&P 500 has advanced solidly this year without a significant round of profit-taking, and the charts are oversold. However, the risks for traders go both ways. The data may be hot, but still not hot enough to spook investors. The S&P 500 is working hard on improving margins, controlling costs, and building leverage. The Fed may not cut rates as soon as expected but will cut rates when it sees the proper time. The takeaway is that the economy is still growing, the market is rallying, and the Fed Put is in place. Featured: The World's First "$20 Trillion Drug"? (Behind the Markets) 
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Markets | | | The recent insider selling activity at JPMorgan Chase & Co. (NYSE: JPM), a leading banking and financial institution, has drawn notable attention, with CEO Jamie Dimon making his first-ever stock sale since assuming leadership 18 years ago. Dimon sold approximately $150 million worth of share... Read the Full Story >> |
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Markets | | | Freshpet (NASDAQ: FRPT) is a well-known refrigerated pet food products company. Freshpet’s earnings for Q4 2023 and FY 2023 have caught market attention, sending the stock up over 15% . This surge can be attributed to a combination of factors, including the company's strong financial perform... Read the Full Story >> |
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Stocks | | | U.S. stocks are drifting Wednesday and edging a bit lower from their all-time highs.The S&P 500 was down 0.1% in midday trading, continuing a quiet and listless run since it set a record last week. The Dow Jones Industrial Average was down 69 points, or 0.2%, as of 11 a.m. Eastern time, and the ... Read the Full Story >> |
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Markets | | | Cars.com Inc. (NYSE: CARS) and Carvana Co. (NYSE: CVNA) are two different ways to play the retail automotive market. Both companies are attempting to modernize and digitize the car buying experience. However, the two automotive stocks are behaving very differently. Despite showing year-ove... Read the Full Story >> |
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Markets | | | Workday, Inc. (NASDAQ: WDAY) issued a lackluster FQ2 report that left the market wishing for more. However, as tepid as the results are, underperformance is relative to analysts' consensus estimates. The results are strong for the business and shareholders, providing ample cash flow for capital re... Read the Full Story >> |
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Markets | | | If you are bullish on any optionable stock in any stock sector, you can play any number of options trades. The easiest directional strategy is to buy a call option. However, you will fight time whenever you own a long call option since the Theta (time decay) works against you. Even if the underlyi... Read the Full Story >> |
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Markets | | | Beyond Meat shares soared Tuesday as investors cheered better-than-expected fourth quarter revenue and a new, healthier burger that could help revive U.S. sales.The plant-based meat maker's stock jumped more than 78% in after-market trading.The El Segundo, California-based company said its revenue f... Read the Full Story >> |
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Markets | | | The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate Read the Full Story >> |
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Markets | | | American consumers are feeling less confident this month as concerns over a possible recession grew despite most recent data pointing to a healthy U.S. economy.The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in Janua... Read the Full Story >> |
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Markets | | | Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales.As part of the strategy, Macy's aims to upgrade its remaining 350 stores, with plans to add more s... Read the Full Story >> |
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