Good MorningEquity tried to advance on Thursday after a stronger-than-expected retail sales report. Retail sales accelerated to 0.4% monthly and 1.7% compared to last year, revealing the resiliency of American consumers. In this environment, demand is strong and likely to keep inflation elevated, diminishing the outlook for FOMC interest rate cuts, but there is a silver lining. The silver lining is that the U.S. consumer-led economy drives earnings growth for the S&P 500 in 2024 and continues to outpace estimates. With this dynamic in place, the market could rally well into 2025.
Tech stocks like NVIDIA underpinned movement in the S&P 500 on Thursday. Shares of NVIDIA rose more than 3% at the session's high to set a new all-time high. The risk is that market action in the semiconductor stock was tepid at the new highs, creating a small, spinning top candle showing indecision. Without a significant catalyst to drive it, shares of NVIDIA could revert to lower prices within the 2024 trading range and cap gains for the broader market until its earnings are released in November. Featured: Man who Predicted Trump 2016 Win: "Prepare for Election Meltdown" (Paradigm Press) 
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Markets | | | Many investors still hold high regard for the technology sector in the United States today, which makes sense as the services PMI index is carrying most—if not all—of the economic growth left in the country, compared to the 23-month contraction in the manufacturing sector, as seen in t... Read the Full Story |
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Markets | | | Most investors dismiss insurance stocks as the boring niche in the finance sector without realizing that this industry could significantly outperform all others during an economy ridden by threats of prolonged higher inflation. Today’s environment is ripe for insurance businesses to rally fu... Read the Full Story |
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Stocks | | | World shares have mostly gained after China's central bank released plans for supporting the stock market through share repurchases by companies and major shareholders.European markets opened mostly higher, with Germany's DAX up 0.2% at 19,617.85. In Paris, the CAC 40 gained 0.6% to 7,629.20. Britai... Read the Full Story |
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Markets | | | As we turn the corner into the final few weeks of the year, there are not going to be many stocks offering the kind of upside that Joby Aviation Inc (NYSE: JOBY) is. What’s interesting is that its outlook hasn’t been this bullish in a while. The California-based electric air taxi com... Read the Full Story |
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Markets | | | It's a trend that has surprised many: Why, despite being squeezed by high prices, have Americans kept spending at retail stores and restaurants at a robust pace?One key reason is a relatively simple one: Wealthier consumers, boosted by strong gains in income, home equity and stock market wealth, hav... Read the Full Story |
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From Our PartnersJuan Villaverde may be America's top crypto expert.
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Markets | | | If you’ve been wondering when Lucid Motor's (NASDAQ: LCID) downtrend will resume and how deep the stock price can go, the answers are soon and much deeper. The latest news is more of the same as what was issued earlier in the year, resulting in increased dilution and reduced investor confi... Read the Full Story |
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Markets | | | Amazon’s (NASDAQ: AMZN) latest foray into nuclear energy shows the technology has reached a critical mass. Long known to be a critical component of carbon reduction goals, costs, time constraints, and safety were barriers. Today's difference is Small Modular Reactor technology, which is abou... Read the Full Story |
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Markets | | | An Alabama man has been arrested for his alleged role in the January hack of a U.S. Securities and Exchange Commission social media account that led the price of bitcoin to spike, the Justice Department said Read the Full Story |
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Markets | | | China's economy expanded at an annual rate of 4.6% in the July-September quarter, the government said Friday, in the latest evidence that recent efforts to rev up growth have yet to take hold. The world's second largest economy slowed from 4.7% annual growth in the previous quarter and falling short... Read the Full Story |
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Markets | | | Elevance Health surprised Wall Street with a rare, late-year guidance cut Thursday after a jump in Medicaid costs marred its third quarter. Shares of the Blue Cross-Blue Shield insurer tumbled after it joined rival UnitedHealth in noting that rates it receives for managing government-funded Medicaid... Read the Full Story |
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Friday's Early Bird Stock Of The Day Southwest Airlines Co. operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cub... | | View Today's Stock Pick |
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