Good MorningEquities sold off for a 5th straight day extending the downdraft to nearly 9.0% from the recent peak. The upshot is the market bounced off the low to close with a gain of 0.3%. The latest round of selling is being driven by the growing acceptance that inflation is not coming down appreciably and the FOMC is about to spark a major recession. The FOMC, through its many mouthpieces, has indicated an aggressive pace of interest hikes will continue until inflation is down and that could mean as many as 8 more 25 basis point hikes before the hiking cycle is over.
With the S&P 500 moving lower and firing off strong sell signals the odds the index will retest the 3,600 level are very strong. The risk now is the index will move below the 3,600 level and extend the sell-off to a new low in the range of 3,500 or lower. If the market can't get its feet back under by then, the selling could continue until the index reaches its long-term secular trend line near the 2,800 level. Featured: One Stock Doubles Your Money, During Crisis? (ad) 
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Politics | | | Asian stock markets were mixed Friday ahead of U.S. jobs data that might reinforce Federal Reserve plans for bigger interest rate hikes to cool surging inflation. Shanghai advanced while Tokyo, Hong Kong and Seoul retreated. Oil prices rose more than $1.50 per barrel. I... Read the Full Story >> |
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Markets | | | Entegris (NASDAQ: ENTG) is an example of a company that provides products or services to another industry and can benefit from the latter’s growth. For example, copper producer Freeport McMoRan (NYSE: FCX) sells to electric vehicle producers, which can boost its fortunes. Entegris devel... Read the Full Story >> |
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Politics | | | European stocks opened higher Friday while Asian markets mostly declined ahead of U.S. jobs data that might reinforce U.S. Federal Reserve plans for more interest rate hikes to cool inflation. London, Frankfurt and Shanghai rose. Tokyo, Hong Kong and Sydney declined. Wall Street futur... Read the Full Story >> |
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From Our PartnersMarkets are down...But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE.
He lives financially free trading this One Stock Once per month... | | Ticker Revealed. |
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Markets | | | Back in the day, as in pre-2013, aluminum manufacturer Alcoa (NYSE: AA) made financial headlines every quarter as the first Dow component to report earnings. In some ways, it served as a bellwether for what investors could expect in every earnings season. I was a financial journalist throughout the ... Read the Full Story >> |
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Markets | | | Nike (NYSE: NKE) stock is approaching its 52-week low made in July. That’s presenting an interesting dilemma for investors. On the one hand, if the stock holds the July lows as a support level, a technical case can be made that NKE stock is oversold. On the other hand, a weakening eco... Read the Full Story >> |
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From Our PartnersWhile Americans are worried about inflation, they are about to be blindsided by another crisis. This disaster is a direct result of the war in Ukraine and could have dire consequences for average Americans. According to a #1 ranked economist, this crisis could put millions on the brink of starvation... | | Click here now to see America's next crisis. |
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Politics | | | Raging inflation has so scrambled the economy that it's come to this: If Friday's jobs report for August were to show a significant hiring slowdown, the Federal Reserve — and even the White House — would likely welcome it Read the Full Story >> |
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Markets | | | DocuSign (NASDAQ: DOCU) is continuing a long, painful decline that started almost exactly one year ago in September 2021. What a different time that was. DOCU stock was trading for over $300 and was being fueled by a pandemic tailwind. But in 2022 that tailwind has turned into a strong hea... Read the Full Story >> |
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Tech | | | Commerce Secretary Gina Raimondo is announcing Friday $1 billion worth of federal grants for manufacturing, clean energy, farming, biotech and other sectors that will go to 21 regional partnerships. The winners were chosen from 529 initial applicants vying for grants that were part of... Read the Full Story >> |
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Markets | | | Hundreds of Lufthansa flights were canceled Friday as pilots staged a one-day strike to press their demands for better pay and conditions at Germany's biggest carrier. The airline said about 800 flights were grounded at its two biggest hubs, Frankfurt and Munich, due to the walkout. M... Read the Full Story >> |
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Markets | | | Is it even possible that companies like Royal Caribbean Cruises (NYSE: RCL) can ever return to smooth sailing? Prior to 2020, the company was posting steadily increasing earnings. Then, of course, it hit that iceberg. It reported a loss of $18.31 per share in 2020, and an even bigger loss, $1... Read the Full Story >> |
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The Early Bird Stock Of The DayFriday: Stock With Insider Buying MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. As of Febr... | | View Today's Stock Pick |
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