Good MorningSelling resumed on Wall Street Tuesday, with the S&P 500 down more than 0.5% at the session's low. The move was led by tech stocks, with names like NVIDIA down by more than 5% and most Magnificent Seven moving lower. The selling is due to an expectation that the Fed will confirm that rate cuts are coming with today's policy statement. The news is good news, signaling easier economic times ahead, and will lead to new highs for the S&P 500 once sector rotation is completed.
The bad news is that sector rotation could take weeks if not months. The rally preceding the rotation lasted more than two years, driven by economic normalization post-pandemic and compounded by robust consumer spending, inflation, and AI; it will take some time to unwind. When it does, the market will be ready for another rally, this time broader and lasting much longer. Featured: Unlock Your Opportunity (See inside) (DTI) 
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Stocks | | | Investors are still hanging onto the momentum of some sectors in the stock market today, namely those in the technology sector dealing with the global adoption of artificial intelligence. However, some in the market feel like better opportunities in other areas are beginning to gain more bullish m... Read the Full Story >> |
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Markets | | | When investors think of stocks worthy of a second look or even a percentage allocation of their hard-earned capital, the technology sector and its run for artificial intelligence growth might come to mind first. However, not all stocks in the sector are made equal. While most have outperformed, th... Read the Full Story >> |
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Markets | | | Global media and broadband giant Comcast Co. (NASDAQ: CMCSA) stock is underperforming the S&P 500, trading down 9.4% year-to-date (YTD) versus the index, up 14.54%. Its Q2 2024 earnings results did nothing to break it out of its 4-month trading range. Its shares initially sold off on the rep... Read the Full Story >> |
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Markets | | | Entertainment technology platform operator IMAX Co. (NYSE: IMAX) stock hit 52-week highs following its robust Q2 2024 earnings release. The company has been able to survive and thrive in the motion picture industry even as cinemas and movie theater operators struggle. While consumers flock to IM... Read the Full Story >> |
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Markets | | | Solaris Oilfield Infrastructure (NYSE: SOI) is up nearly 60% in July after announcing a deal to acquire Mobile Energy Rentals (MER). The move has the market on track to break critical resistance, likely leading to another large share price gain. The technical outlook is robust, suggesting a dyna... Read the Full Story >> |
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Stocks | | | Global stocks advanced Wednesday and oil prices jumped more than $2 a barrel after Hamas's top political leader Ismail Haniyeh died in an air strike.Haniyeh died in a predawn airstrike in the Iranian capital early Wednesday, Iran and the militant group said, blaming Israel for a shock assassination ... Read the Full Story >> |
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Markets | | | With the end of their two-year fight against inflation in sight, Federal Reserve officials are likely Wednesday to set the stage for the first cut to their key interest rate in four years, a major shift in policy that could eventually lower borrowing costs for U.S. consumers and businesses. Inflatio... Read the Full Story >> |
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Markets | | | A closely watched measure of Chinese manufacturing activity remained negative in July as concern persists about the state of the world's second largest economy.The Purchasing Managers' Index, based on a survey of factory managers, slipped 0.1 points to 49.4, the National Bureau of Statistics said We... Read the Full Story >> |
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Markets | | | Inflation in the 20 countries that use the euro ticked up to 2.6% in July, stubbornly above the European Central Bank's target and complicating the ECB's next decision on whether to cut interest rates and boost growth as the economy struggles to stage a convincing recovery from more than a year of stagnation Read the Full Story >> |
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Markets | | | The Bank of Japan raised its key interest rate Wednesday to about 0.25% from a range of zero to about 0.1%, acting to curb the yen's slide against the U.S. dollar. The move was widely expected, and the yen gained sharply against the dollar ahead of and after Wednesday's decision, trading below 152 y... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day East West Bancorp, Inc. operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other. It accepts various deposit products, such as personal and business checking and savings accounts, money market, and time deposits. The company's loan products include mortgage and home equit... | | View Today's Stock Pick |
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