U.S. stocks found their footing last week, finishing up a July to remember. The Dow popped nearly 3% while the S&P added 4.3% last week and the Nasdaq Composite rose 4.7% for the month. For the month, the S&P 500 rallied 9.1% while the Nasdaq popped in a 12.3% gain, recording one of the strongest months in the index's history. If that was a bear trap , it wasn't very convincing, as nine out of the 11 sectors in the S&P 500 all posted gains. If you want to get technical about it, the major indexes all found support for the time being, and we're starting to see some true breadth thrusts playing out across the stock market. A breadth thrust, my friends, is not a fencing move. It's a technical indicator that flashes when a large percentage of stocks make new short-term highs, driving their moving averages higher, with more of those stocks advancing rather than declining. If we look back into the history of the S&P 500, every time we've seen a breath thrust this … [Read more...] about Examining the Health of the Stock Market with Dr. Ed Yardeni
Session topic stock market price behavior
Share to Twitter Share to Linkedin Topline The stock market rallied on Wednesday, reversing losses from earlier this week thanks to stronger-than-expected economic data which helped offset lingering recession fears, even as Federal Reserve officials continue to promise more rate hikes to bring down inflation. Key Facts Stocks rebounded after back-to-back losing sessions earlier this week: The Dow Jones Industrial Average was up 1.3%, over 400 points, while the S&P 500 rose 1.6% and the tech-heavy Nasdaq Composite 2.6%. Markets got a boost after a surprise rebound in the U.S. services sector in July, with the ISM non-manufacturing purchasing managers index rising to a reading of 56.7—above 55.3 last month and 54 expected by economists. Investors also cheered comments from St. Louis Federal Reserve President James Bullard, who told CNBC on Wednesday that the U.S. economy is “not in a recession right now” and the Fed will keep hiking … [Read more...] about Dow Jumps 400 Points As Stocks Rebound Thanks To Solid Earnings, Upbeat Economic Data
Share to Twitter Share to Linkedin Topline Several Wall Street experts are warning that despite moving higher in recent weeks, the stock market still has further to fall—with recent gains likely to be nothing more than a “bear market rally,” as investor concerns about Fed rate hikes and slowing economic growth continue to weigh on markets. Key Facts Despite an earnings season marked by profit warnings from major companies, the stock market has risen significantly from its low point on June 16, with the S&P 500 gaining roughly 12% and rallying for the last three weeks in a row. With stocks starting to recover from a brutal selloff in the first half of the year, investors are now debating whether recent gains are merely a bear market rally—with stocks set to hit new lows—or the start of a new bull market. Analysts at Bank of America argue that it’s “premature to declare a ‘big low’ in the market,” predicting more downside ahead and … [Read more...] about Some Experts Are Warning Of A ‘Bear Market Rally’—Here’s Why Stocks Could Hit New Lows
Share to Twitter Share to Linkedin Topline The stock market was mixed Friday after the U.S. economy added back a better-than-expected 528,000 jobs in July, with investors now anticipating that a strong labor market will keep the Federal Reserve on its path of aggressive interest rate hikes to bring down inflation. Key Facts The Dow Jones Industrial Average rose 0.2%, nearly 100 points, while the S&P 500 fell 0.2% and the tech-heavy Nasdaq Composite dropped 0.5%. The S&P 500 fell despite a strong non-farm payrolls report : The labor market added back 528,000 jobs in July—easily surpassing the 258,000 expected by analysts, according to the Bureau of Labor Statistics on Friday. Unemployment ticked down to 3.5%, while wage growth continued to rise, up 0.5 percentage points from the previous month and over 5 points higher than a year ago, signaling that inflation pressures continue to remain. With the labor market still running … [Read more...] about Stocks Under Pressure Despite Strong Jobs Report As Investors Fear Bigger Fed Rate Hikes
Share to Twitter Share to Linkedin Topline Shares of electric vehicle maker Tesla rallied in after-hours trading Thursday as the company won shareholder approval for a 3:1 stock split, the second such move in around two years, as the world’s most valuable automaker looks to make its stock more affordable. Key Facts In a widely expected move, Tesla shareholders approved the company’s proposed 3:1 stock split, causing shares of the company to continue rallying in after-hours trading following a 0.4% gain earlier in the session. Tesla first announced the proposed 3:1 stock split in June as a way to make the $925 stock more affordable; based on today’s closing price the new share price would be around $308. Though the stock is down roughly 20% this year amid the wider market selloff, billionaire Elon Musk’s electric vehicle maker has still seen its shares surge more than 200% since the last stock split in August 2020. Stock splits don’t … [Read more...] about Tesla’s 3:1 Stock Split Wins Shareholder Approval—Here’s What It Means For Investors
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Last Week, the Nifty found support at upward sloping trendline, adjoining the low of June 20, 2022 (15,191) and July 1, 2022 (15,511). It broke out from the bullish Flag pattern on the daily charts, which indicates the continuation of an uptrend, yesterday. The Nifty has surpassed the crucial resistance of its 50 days EMA (exponential moving average), placed at 16,138. It has also taken out previous swing high of 16,275 on the daily charts. The benchmark has been forming higher bottom and higher top formation on the daily chart. Indicators and oscillators like RSI (relative strength index), MACD (moving average convergence divergence) and ADX (average directional index) are placed in the bullish territory on the daily chart of Nifty. Next resistance for Nifty is seen at 16,522, which happens … [Read more...] about Hot Stocks | Double-digit return from Exide Industries, Poonawalla Fincorp, Talbros Automotive likely in short term. Here’s why
Share to Twitter Share to Linkedin August is officially underway, and Schaeffer’s Senior Quantitative Analyst Rocky White is back once again to outline the best and worst stocks to own for the new month. High energy prices recently helped Exxon Mobil (XOM) secure record profits for the second quarter, and the equity is now up a little over 50% year-to-date. However, seasonality shows XOM could cool off as August heats up, with the security appearing on White’s list of 25 worst S&P 500 performers for the month, looking back over the last decade. According to White’s data, Exxon Mobil stock averaged an August loss of 3.8% over the past 10 years, and has finished the month positive only twice. Digging deeper, the last time the equity turned in an August win was in 2014 after adding a paltry 0.5% over the 31-day period. At last glance, XOM was down 2.4% to trade at $91.81. From its current perch, a similar move lower would put the shares back below the … [Read more...] about Exxon Mobil Stock Is One Of The Worst To Own In August
Share to Twitter Share to Linkedin Booking Holdings (NASDAQ: BKNG) , the world’s largest online travel agency that offers services from lodging to airline tickets to car rentals, is scheduled to announce its fiscal second-quarter results on Wednesday, August 3. We expect the company’s stock to likely trade slightly higher with revenues and earnings beating market expectations marginally. BKNG saw record gross bookings in Q1 against the 2019 pre-pandemic quarter. In fact, the company mentioned in its first-quarter earnings call that global leisure travel trends have continued to improve in the second quarter, even with the current macroeconomic uncertainties, and that it is looking forward to a busy summer travel season ahead. All this indicating to setting expectations of upside recovery in the stock price levels which have been down nearly 20% this year. Booking Holdings derives a majority of its revenue from the European market, which has undertaken a … [Read more...] about What To Expect From Booking Holdings Stock?
Share to Twitter Share to Linkedin ConocoPhillips (NYSE: COP) , a pure-play oil and natural gas producer, is scheduled to announce its fiscal second-quarter results on Thursday, August 4. We expect ConocoPhillips COP stock to trade higher past Q2 with both revenue and earnings beating market expectations. Unlike many other oil companies, ConocoPhillips does not hedge its production. As a result of that strategy, the company has been able to capture the full upside of higher prices and generate a gusher of cash flow this year. ConocoPhillips produced $5.1 billion in cash provided by operating activities in the first quarter, more than double the roughly $2 billion it generated in the year-ago period. An increase in production and oil prices contributed to the surge in cash flow. In fact, all of COP’s efforts are devoted to finding and producing oil and gas at the lowest price and then selling it at the highest price - providing resilience during oil and gas … [Read more...] about Earnings Beat In The Cards For ConocoPhillips Stock?
Share to Twitter Share to Linkedin Topline Meme stocks surged higher on Monday—with shares of Bed Bath & Beyond jumping nearly 40%, while GameStop and AMC also rallied—as retail traders bought up shares in a coordinated effort, causing some experts to warn that meme stock mania has made a comeback. Key Facts Brick-and-mortar retailer Bed Bath & Beyond rose roughly 35% to $11 per share on Monday as retail investors, including those from Reddit’s WallStreetBets discussion forum piled into the stock. Bed Bath & Beyond added to a winning streak that has seen its shares rise for nine consecutive sessions, gaining more than 130% in that period. Bed Bath & Beyond was the most-searched name on the WallStreetBets forum on Monday, per investing research platform Quiver Quantitative, while most users were posting in a discussion titled “GME, BBBY and AMC Memestock Megathread for Monday August 8th, 2022.” Shares of other meme … [Read more...] about Bed Bath & Beyond Surges Nearly 40% As Retail Traders Pile Back Into Meme Stocks