Good MorningThe S&P 500 advanced on Tuesday but remains within a narrow range it has held for the last two weeks. The consolidation is a healthy move for the market, allowing overbought conditions to recede ahead of the Q2 earnings reporting season. The index should move higher because the average index stock is expected to produce accelerating growth relative to Q1. If not, a correction may form, and a buying opportunity may be set up for gains later in the year.
The outlook for the second half is improving. Analysts are forecasting another 15% increase in the S&P 500 driven by big tech. AI is the central theme: NVIDIA and Microsoft will be the key reports, but a broader rally in tech is expected. Widening use cases will improve earnings for those able to monetize AI, such as Apple, Meta Platforms, and Alphabet. Because these stocks are led higher by analysts and have a potential for 15% to 20% upside, the index could rise to 6,100 or higher. Featured: Who are Nvidia's Silent Partners? (Weiss Ratings) 
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Markets | | | The new commodity cycle is underway, and typically, two items take the lead wherever the cycle is headed. Of course, these two widely watched leaders are oil and gold prices, as both are reliable fundamental and psychological indicators to show investors where the economy could be headed tomorrow.... Read the Full Story >> |
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Tech | | | The biotechnology sector, represented by the iShares Biotechnology ETF (NASDAQ: IBB), has experienced a year of consolidation. With the ETF up just 0.8%, it has underperformed the broader market, making it one of the worst-performing sectors year-to-date. However, as the year's second half begins,... Read the Full Story >> |
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Markets | | | While most steel producer stocks are trading down in 2024, Steel Dynamics Inc. (NASDAQ: STLD) is an exception. Its stock is trading up 9.1% year-to-date (YTD). The VanEck Steel ETF (NYSEARCA: SLX) is down 9.67% YTD. Incidentally, a number of steel companies lowered their guidance, which caused t... Read the Full Story >> |
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Markets | | | Shares of RXO Inc. (NYSE: RXO) are up more than 20% on the week, something investors probably didn’t see coming out of the ‘boring’ transportation sector. This sector is notorious for having a low beta, English for low volatility. RXO stock has a beta below 1.0, meaning the compa... Read the Full Story >> |
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Markets | | | TikTok and its bite-sized videos arrived in the United States as a global version of the Chinese app Douyin. Less than six years later, the social media platform is deeply woven into the fabric of American consumerism, having shortened the shelf life of trends and revamped how people engage with foo... Read the Full Story >> |
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Markets | | | Guidewire Software (NYSE: GWRE) stock price has increased 150% in the last eighteen months because of the utility it provides insurers. The company operates as a B2B cloud-based SaaS that provides a suite of platforms for property and casualty insurers. The suite can be used piecemeal or as an end... Read the Full Story >> |
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Markets | | | Global shares were mostly higher on Wednesday after comments by Federal Reserve chief Jerome Powell raised hopes for interest rate cuts.Speaking at a conference of central bankers in Portugal a day earlier, Powell gave a nod to improvements in inflation data after some disappointingly high readings ... Read the Full Story >> |
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Markets | | | Japan issued its first new banknotes in two decades Wednesday, yen packed with 3-D hologram technology to fight counterfeiting.Prime Minister Fumio Kishida praised as "historic" the state-of-the-art anti-counterfeit traits of the new 10,000 yen, 5,000 yen and 1,000 yen bills."I hope the people will ... Read the Full Story >> |
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Markets | | | U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market.Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department reported Tuesday. April openings were ma... Read the Full Story >> |
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Markets | | | Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate.The figure released Tuesday was down from 2.6% in May, welcome ... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies. The Production Chemical Technologies segment offers onshore, offshore, and oil sands chemical solutions, such as corrosion inhibitors, scale inhibitors, emulsion bre... | | View Today's Stock Pick |
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