Good MorningEquities failed to advance significantly last week despite good news, indicating a top for equities is near. Neither better-than-expected results from NVIDIA nor cooler-than-expected inflation lifted equities, suggesting a rocky road ahead in September. The risk now is that the S&P 500 will enter another correction in September and could fall 10% or more before hitting bottom. If the FOMC fails to deliver on rate cuts as expected, the move could exceed 20% and happen within weeks.
This week's hurdle is the labor data. The monthly labor data is due out and unlikely to soften, leaving the FOMC without the need to support it. In this scenario, the FOMC could hold off on rate cuts for another cycle, reducing the odds of three cuts by year's end and increasing the chances for a recession. Featured: Wall Street Legend: "Sell this tech stock NOW" (Chaikin Analytics) 
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Markets | | | The world of artificial intelligence has been experiencing a major shift in sentiment lately, especially as the leader of the technology sector recently missed expectations for the future. Shares of NVIDIA Co. (NASDAQ: NVDA) are now trading lower for the second consecutive day since the company an... Read the Full Story >> |
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Markets | | | Birkenstock (NYSE: BIRK) has been on a strong run since going public in October 2023. Shares were up 54% prior to the release of its fiscal Q3 earnings on Aug. 29. This significantly outpaced the S&P 500 and the consumer discretionary sector. The Consumer Discretionary Select Sector SPDR Fun... Read the Full Story >> |
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Stocks | | | Stocks on Wall Street finished broadly higher Friday as the market closed out its fourth straight winning month with solid gains. A late-afternoon rally helped stocks bounce back from a midafternoon slide. The S&P 500 rose 1%, with about 76% of the stocks in the index notching gains. The benchma... Read the Full Story >> |
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Stocks | | | Strong growth for stocks on Wall Street this year have helped juice gains for savers with retirement accounts.The average 401(k) plan balance stood at $127,100 at the end of the second quarter, an increase of 13% from the same period last year, according to data from Fidelity Investments drawn from ... Read the Full Story >> |
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Markets | | | Just months ago, Chinese electric vehicle (EV) manufacturer Li Auto Inc. (NASDAQ: LI) stood out among competitors like Xpeng Inc. (NYSE: XPEV) and Nio Inc. (NYSE: NIO) as a rare profitable maker of new energy vehicles with a stock price that reflected its dominance at over $46 per share in la... Read the Full Story >> |
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Markets | | | Shares of cloud-based software provider Veeva Systems Inc. (NYSE: VEEV) have been on a wild ride in the last year, surging by more than 40% from last November through March 2024 before giving up nearly all of those gains by June. The stock price floated toward the lower end of that range for mos... Read the Full Story >> |
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Markets | | | Best Buy, the nation's largest consumer electronics chain, reported another quarterly drop in sales due to Americans pulling back on purchases of appliances and consumer-electronics gadgets to focus on essentials Read the Full Story >> |
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Markets | | | Global shares are mixed in cautious trading ahead of the Labor Day holiday in the U.S. Investors also are looking ahead to the U.S. employment report set for release later this week for an indication of the strength of the American economy Read the Full Story >> |
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Markets | | | The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.The Commerce Department had previously estimated that the nation's gross domestic product — the total outpu... Read the Full Story >> |
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Markets | | | Campbell Soup (NASDAQ: CPB) is one of the most well-known food product firms in the United States but it definitely isn’t stock on the tip of everyone's tongue in a market dominated by technology and AI. However, the company has quietly been having a good 2024, providi... Read the Full Story >> |
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Monday's Early Bird Stock Of The Day Snowflake Inc. provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems. The company was formerly known as Snowflake Computing, Inc. and changed its name to Snowfl... | | View Today's Stock Pick |
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