Good MorningThe S&P 500 was advanced to set another new high. The market has accepted the Fed's policy stance and is focused on S&P 500 earnings growth. The index is growing its earnings power, and growth is expected to accelerate over the next four quarters, providing a powerful tailwind for the market. While the outlook for rate cuts and inflation is a worry, the fundamentals remain positive. Economic activity is expanding, and the labor markets are healthy, leaving the market nowhere to go but up.
The question is how high the S&P 500 can go. The technical picture is robust and suggests a move to 6,100 is possible. The timing of the move and how long it will stay at that level depend on the data and the Fed, but the target may be reached by late this year or early 2025. Price corrections are likely between now and then, but each should be treated as a buy-the-dip opportunity provided no significant changes in the economy or earnings outlook. Featured: Could Elon's New Device be Bigger than the iPhone? (InvestorPlace) 
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Markets | | | Shares of Walmart Inc. (NYSE: WMT) are reaching a new all-time high this week after analysts at HSBC decided to boost their price targets on the stock higher. Seeing the company’s valuation as high as $81 a share, daring the stock to rally by an additional 22.2% from its already elevated lev... Read the Full Story >> |
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Markets | | | The latest readings on inflation show some cooling, and stocks seem to like it. However, it's important to be clear about why investors feel bullish. Inflation growth of around 3.3% won't prompt the Federal Reserve to lower interest rates, but it won't cause them to hike rates either. So, i... Read the Full Story >> |
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Markets | | | C3.ai (NYSE: AI) has been garnering attention lately, with many investors wondering if the company could emerge as a leader in the AI field, if it is simply a sleeping giant waiting to be awakened, or if it has come too far too soon and is due for a pullback. Its RSI is now hitting 73. To a... Read the Full Story >> |
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Markets | | | Wall Street rallied Thursday as Argentina's President Javier Milei traveled to Italy for the Group of Seven summit, buoyed by his first legislative victory after the Senate passed sweeping proposals to slash state spending and boost his powers.Having hitched his political fortunes to the goal of cut... Read the Full Story >> |
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Markets | | | Dave & Buster’s Entertainment’s (NASDAQ: PLAY) Q1 report left something to be desired but did not give sufficient reason to sell off the way it did. While sales are sluggish and margins are weakened, mitigating factors include remodeling efforts, investments in efficiency and growt... Read the Full Story >> |
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Stocks | | | Global shares were mixed on Friday after Wall Street touched fresh records, with benchmarks pushed higher by the frenzy over artificial-intelligence technology. France's CAC 40 dropped 1.3% in early trading to 7,606.73 while Germany's DAX dipped 0.5% to 18,174.98. Britain's FTSE 100 fell 0.2% to 8,1... Read the Full Story >> |
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Markets | | | Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it's been much of this year.The rate fell to 6.95% from 6.99% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.69%.Borrowing costs... Read the Full Story >> |
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Markets | | | WeWork has officially emerged from bankruptcy. And all eyes are on whether its new leadership can guide the long-embattled provider of co-working office space to success.Once a Wall Street darling promising to revolutionize the world of work, WeWork took a stunning — but anticipated — fall last Nove... Read the Full Story >> |
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Markets | | | Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia's frozen central bank assets would be used as collateral. Details of the deal were being hashed out by G7 leaders at their su... Read the Full Story >> |
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Markets | | | The Federal Open Market Committee (FOMC) didn’t exactly give the market what it wanted, but the policy statement and outlook have the S&P 500 (NYSEARCA: SPY) on track to hit new highs. High inflation and high interest rates aside, the US economy is growing, labor markets are healthy, a... Read the Full Story >> |
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Friday's Early Bird Stock Of The Day Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, in... | Should I Buy Occidental Petroleum Stock? OXY Pros and Cons Explained These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Occidental Petroleum was last updated on Wednesday, June 05, 2024 at 8:58 PM. Pros- Occidental Petroleum stock trading up 2.1% recently, showing positive momentum in the market.
- Occidental Petroleum increased its dividend, providing investors with a steady income stream.
- Analysts have set new price targets for Occidental Petroleum, indicating potential growth in stock value.
- Occidental Petroleum has a moderate buy consensus rating from analysts, suggesting positive sentiment towards the company.
- Occidental Petroleum's return on equity of 20.63% showcases strong profitability and efficient use of shareholder funds.
Cons- Occidental Petroleum's revenue for the quarter was down 9.6% on a year-over-year basis, indicating a decline in sales performance.
- Occidental Petroleum's dividend payout ratio (DPR) is currently 24.04%, which may limit future dividend growth.
- Several analysts have rated the stock as a hold, suggesting uncertainty in the company's future performance.
- Occidental Petroleum's debt-to-equity ratio of 0.82 may pose risks in times of economic downturns or financial instability.
- Occidental Petroleum's stock has a beta of 1.64, indicating higher volatility compared to the market average.
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