Good MorningEquity markets rallied on Thursday on stronger-than-expected retail sales. Retail sales accelerated to 0.6% MoM from the prior read and suggest continued resilience in the US economy. Likewise, the latest read on the Fed's GDP shows US GDP advancing nearly 5.0% in Q3, a double-edged sword for the market. With CPI hot, PPI hot, and oil prices up, it's hard not to think the gains are underpinned by higher prices rather than actual demand. This means an increasing chance for additional FOMC interest rate hikes and another nail in this market's coffin.
The S&P 500 increased nearly 1.0% on Thursday's news, but there is a significant hurdle overhead. The market moved higher but is still below the critical 4,545 level, which could provide stiff resistance. The next major catalyst is the FOMC meeting next week; if the market confirms resistance at that level following the policy announcement, a significant correction will likely follow. Featured: The single greatest medical breakthrough of all time? (Behind the Markets) 
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Markets | | | Not very often do investors get the opportunity to buy an industry leader at a discount; today, shares of Shutterstock (NYSE: SSTK) are bringing what could be the deal of the cycle, yet people need to be talking about it. Is there any reason for the secrecy? Perhaps because the top three owners o... Read the Full Story >> |
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Markets | | | WeWork (NYSE: WE) experienced a remarkable surge of 62.15% on Tuesday, briefly surpassing the 100% mark intraday despite the absence of any significant news catalyst. The driving force behind this dramatic uptick was the extraordinary trading volume, reaching an impressive 61.5 million shar... Read the Full Story >> |
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Markets | | | On August 24, World Wrestling Entertainment, Inc. (NYSE: WWE) was like a beefy man in tights standing atop the ropes in preparation for a takedown. The specialty media group had just announced record ticket sales for the upcoming 'WrestleMania 40' at Lincoln Financial Field in Philadelphia. Its st... Read the Full Story >> |
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Stocks | | | Rising oil prices and the cooling vehicle market have one thing in common: cars. Both developments impact vehicle sales and usage. Vehicle maintenance, service and repair companies keep cars on the road. Their business grows with more cars on the road, especially with collisions, accidents and rep... Read the Full Story >> |
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Markets | | | Resilient American consumers. Below normal valuations. Moderating inflation. Artificial intelligence. They're all adding up to a fantastic 2023 for U.S. equities. Interestingly, this year’s rally has been a bit of a self-fulfilling prophecy. Rising stock prices are prompting investors... Read the Full Story >> |
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Markets | | | Global shares were mostly higher Friday after China reported that its slowing economy showed signs of stabilizing in August.France's CAC 40 gained 1.5% in morning trading to 7,414.96. Germany's DAX rose 1.1% to 15,980.43. Britain's FTSE 100 edged up 0.9% to 7,738.95. The future for the Dow industria... Read the Full Story >> |
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Markets | | | The average long-term U.S. mortgage rate edged up this week, pushing up borrowing costs for prospective homebuyers already facing a housing market limited by a dearth of homes for sale and rising prices Read the Full Story >> |
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Markets | | | China's factories picked up their pace and retail sales also gained momentum in August, the government reported Friday, suggesting the economy may be gradually recovering from its post-pandemic malaise. However, despite busy activity in restaurants and stores, the figures showed continuing weakness ... Read the Full Story >> |
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Markets | | | The lawsuit alleges Westfield allowed the property to deteriorate and become a hub for criminal activity, resulting in more than 100 security incidents in the American Eagle store between May 2020 and May 2023. Read the Full Story >> |
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Markets | | | Time is the most precious resource for an entrepreneur, as every moment is an opportunity to innovate, strategize and drive their business toward success. Don't waste another person's time because you don't have brevity. Read the Full Story >> |
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The Early Bird Stock Of The DayFriday: Stock With Insider Buying Inhibrx, Inc., a clinical-stage biopharmaceutical company, focuses on developing a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, and pancreatic adenocarcinoma; INBRX-105, a tetravalent conditional agonist of programmed death-ligand 1 and a conditional agonist of 4-1BB that is in Phase 1 clinical tr... | | View Today's Stock Pick |
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