Good MorningThe S&P 500 edged higher on Tuesday to set another fresh all-time high and may continue to move higher, although the risk of a price correction grows daily. The market's rise is driven by momentum and analysts' upgrades of NVIDIA, making it extended and vulnerable to a sell-off. In this scenario, the market could begin to pull back at any time, and the retreat could be sharp. The caveat for investors is that a full-blown market reversal and bear market are unlikely, so staying the course is the best option.
The S&P 500 is set up for a price correction but not a reversal, which means the next major price drop is a likely entry point for new money. The earnings outlook supports the uptrend, and it is robust. The only thing that can derail the market now is a shift in expectations, which is unlikely without a change in the fundamentals. As it is, the next change in fundamental conditions should be an interest rate cut by the FOMC, which should come by the end of the year.
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Markets | | | As the temperature rises and thoughts turn to summer vacations, investors also look for ways to keep their portfolios generating warmth. One effective strategy for achieving this goal is investing in dividend stocks, a reliable source of passive income that can provide both current returns and the... Read the Full Story >> |
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Markets | | | Many misconceptions about the stock market exist and are constantly growing. These are particularly abundant when the market is coming off of a low interest rate cycle, where easy money and a risk-on mentality can seriously blur investor filters when looking for a stock to justify an investment. T... Read the Full Story >> |
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Markets | | | Molson Coors Beverage Co. (NYSE: TAP) stock recently fell to 52-week lows as it struggled to maintain any bounce attempts. The negative trajectory took over its price action ever since releasing its Q1 2024 earnings report. The brewer of popular beers and hard seltzers is not alone when it comes... Read the Full Story >> |
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Markets | | | Commvault Systems (NASDAQ: CVLT) share price nearly doubled in the last nine months because of its utility and appeal for business. The company is a leading data protection and recovery service focused on fighting AI-driven threats. AI-powered threats are the most insidious of cyber threats beca... Read the Full Story >> |
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Markets | | | Shares advanced in Europe on Wednesday after most markets in Asia declined, although Tokyo's Nikkei 225 index closed at another record high.Investors are awaiting comments by Federal Reserve Chair Jerome Powell to a congressional committee and looking ahead to earnings reports.Germany's DAX gained 0... Read the Full Story >> |
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Markets | | | Japan's Nikkei 225 share index closed Wednesday at another record high, gaining 0.6% to end trading at 41,831,99. That followed a record close on Tuesday, as world markets tracked gains on Wall Street. The Nikkei 225 index also hit a record intraday high on Wednesday of 41,889.16 as it bounced throu... Read the Full Story >> |
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Markets | | | The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue Read the Full Story >> |
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Markets | | | The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony to Congress, a shift in emphasis away from the Fed's single-minded fight against inflation that suggests it's moving closer to cutting interest rates Read the Full Story >> |
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Markets | | | Shares were mixed Wednesday in Asia after remarks by Federal Reserve Chair Jerome Powell in front of Congress did little to change investors' expectations for the timing of a Fed interest rate cut.Tokyo's Nikkei 225 index touched a fresh intraday trading high but fell back, edging 0.1% lower to 41,5... Read the Full Story >> |
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Markets | | | Intuit (NASDAQ:INTU) is seated in the technology sector and specializes in providing tax and small-business accounting software. RBC Capital recently initiated coverage on the company, setting a price target of $760, implying a 15% upside from the current price. Lead analyst Rishi Jaluria believ... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits. It also provides trust and wealth services, such as personal trusts, custodial accounts, investment management accounts, and retirement accounts, as we... | | View Today's Stock Pick |
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