Good MorningThe sell-off in equity markets deepened on Thursday. The broad market S&P 500 shed roughly 0.8%, led by big tech companies like Apple. Apple shed more than 2% at the day's low and could shed another 1% to 3% before hitting a solid support level. However, stock market corrections are a necessary function of equity markets, often leading to buying opportunities within bull markets, as this one is likely to do. Because the outlook for earnings is robust, this correction is likely to be short-lived and lead to higher index prices later in the year.
Thursday's economic data aligns with the outlook for higher index prices. Housing starts, permits, industrial production, and capacity utilization were all better than expected and suggest stable, if not growing, economic activity. Aside from earnings season, which is ramping into high gear, the next major hurdle for the market is the PCE price index at the end of the month. If it aligns with the CPI data, the market is sure to regain its footing and begin the next march higher. Featured: We recommended Nvidia in 2016, now we're recommending this… (Porter & Company) 
|
Markets | | | The artificial intelligence (AI) sector is rapidly expanding, revolutionizing industries and transforming how businesses operate. This dynamic growth is reflected in the stock market, where AI stocks are becoming increasingly sought after by investors seeking to capitalize on this burgeoning techn... Read the Full Story >> |
|
From Our PartnersCould Elon's New Device be Bigger than the iPhone?
According to 30-year Silicon Valley and Wall Street veteran, Eric Fry…
This mind-blowing new technology could be bigger than the iPhone. | | | | Click here for the full story… |
|
Markets | | | Now that the new earnings season has kicked off, the financial sector comes out swinging first, giving investors insights into what is happening underneath the hood of the economy, both the corporate and the commercial economy. This week, commercial banks like Bank of America Co. (NYSE: BAC) and J... Read the Full Story >> |
|
Stocks | | | U.S. stocks slumped Friday in another washout, as businesses around the world scrambled to contain the effects of a disruptive technology outage.The S&P 500 fell 0.7% to close its first losing week in the last three and its worst since April. The Dow Jones Industrial Average dropped 377 points, ... Read the Full Story >> |
|
From Our PartnersThe market is near all-time highs, we're told that unemployment is low, AI's a gift to humanity, and the FED will cut rates any day now.
But there's one indicator that's flashing a BIG warning sign to investors. | | | | Take these 4 steps to protect your retirement here. |
|
Markets | | | Hims & Hers Health, Inc. (NYSE: HIMS) is a prominent player in the telehealth sector, which is part of the larger healthcare sector. The company has garnered significant attention from investors due to its remarkable rise in the stock market. Hims & Her’s strategy of providin... Read the Full Story >> |
|
Markets | | | D.R. Horton, Inc. (NYSE: DHI) is the largest homebuilder in the United States. D.R. Horton’s stock has been on a tear recently, with its stock price hitting a new 52-week high following a better-than-expected earnings announcement. D.R. Horton’s earnings for the third-quarter fiscal 20... Read the Full Story >> |
|
From Our PartnersAs we approach the Democratic National Convention in August... many sense a Biden swap-out is looming.
In fact, according to Tucker Carlson, in private even "Obama is telling people Biden can't win, and he is therefore in favor of an open convention." | | | | WHO will they replace Biden with? |
|
Markets | | | Netflix's (NASDAQ: NFLX) stock price corrected about 5% ahead of its Q2 earnings release, and the correction may not be over now that the results are out, but it will soon result in a buying opportunity. Though mixed relative to analysts' consensus forecasts, the Q2 results were robust, featuring ... Read the Full Story >> |
|
Markets | | | The European Central Bank left its key interest rate benchmark unchanged Thursday as its rate-setting council and President Christine Lagarde take their time to make sure stubborn inflation is firmly under control before lowering rates again Read the Full Story >> |
|
Markets | | | China's ruling Communist Party wrapped up a top-level meeting on Thursday by endorsing policies aimed at advancing the country's technological power and fortifying its national security. A statement released when the four-day meeting ended provided only a broad-brush summary. More details are likely... Read the Full Story >> |
|
Markets | | | Sales of U.S. homes to foreign nationals have fallen to the lowest level in more than a decade, hampered by a strong dollar and many of the hurdles that have kept the housing market in a deep sales slump for over two years Read the Full Story >> |
|
Markets | | | United Airlines on Wednesday reported that its second-quarter profit rose 23% to $1.32 billion, as record crowds at U.S. airports helped the carrier overcome sharply rising costs for fuel and labor.However, United warned that third-quarter results will fall short of Wall Street expectations because ... Read the Full Story >> |
|
No comments:
Post a Comment