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: Notorious "Crypto Hater" drops bombshell: "Don't buy ANY Bitcoin before you see this expose'…" (ad) 
|
Politics | | | Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street's late-summer slump. Major stock indexes initially climbed broadly following the government's latest job market report, which showed employers slowed their hiring... Read the Full Story >> |
|
From Our PartnersWhen most folks think about making money through the markets, they think "buy and hold." They think "diversification." And they think about investing in things like index funds.
But one man has a different approach… | | It's called the "3-Stock Retirement Blueprint." |
|
Markets | | | Snapchat (NYSE: SNAP), continues to face fundamental issues and has resorted to restructuring the company during the quarter by announcing the layoff of its Web3 team. Snapchat reducing its headcount resulted in the stock rallying by over 7% during market hours as investors look forward to the com... Read the Full Story >> |
|
Markets | | | Just when equities were starting to look shaky again after a decent run to end the summer, athleisure brand Lululemon (NASDAQ: LULU) has given the would-be bears pause for thought. They reported their Q2 earnings after the bell rang to end yesterday’s session, and the numbers were red hot. Kee... Read the Full Story >> |
|
From Our PartnersThe Pentagon has said doing "THIS" was their "#1 Priority." And Wall Street's smartest investors are starting to invest billions into it. Opportunities like this give smart investors the chance to earn 46,751% returns. | | Click here to see how it works |
|
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 >> |
|
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 >> |
|
|
Tech | | | The Federal Trade Commission is investigating Amazon's $3.9 billion acquisition of the primary health organization One Medical, a move that could delay the completion of the deal. Both One Medical and Amazon received a request for additional information Friday in connection with an FT... Read the Full Story >> |
|
Markets | | | Hormel (NYSE: HRL) is not the cheapest pick in the consumer staples sector (NYSEARCA: XLP) but it is one of the better values. The stock trades at 25X its earnings compared to 15X at the low end of the range with Kraft-Heinz (NASDAQ: KHC) and upwards of 28X to 30X for names like Clorox (NYSE... Read the Full Story >> |
|
Tech | | | California Democratic Gov. Gavin Newsom signed legislation Friday intended to open the way for the state's last operating nuclear power plant to run an additional five years, a move that he said was needed to ward off possible blackouts as the state transitions to solar and other renewable sources. ... Read the Full Story >> |
|
Tech | | | Local law enforcement agencies from suburban Southern California to rural North Carolina have been using an obscure cellphone tracking tool, at times without search warrants, that gives them the power to follow people's movements months back in time, according to public records and internal emails obtained by The Associated Press Read the Full Story >> |
|
Politics | | | Federal health regulators remain unconvinced about the benefits of a closely watched experimental drug for the debilitating illness known as Lou Gehrig's disease, even as they prepare to give its drugmaker a rare second opportunity to make a public case for the treatment. Amylyx Pharm... Read the Full Story >> |
|
No comments:
Post a Comment
Keep a civil tongue.