This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Stocks are little-changed on Monday morning. While this week is full of major earnings report, Fed news, and significant economic data, investors appear to be in 'wait and see' mode for now -- with the biggest events still to come on Tuesday (earnings), Wednesday (Fed), Thursday (earnings again), and Friday (employment). Tension in the Middle East is also on the rise, likely adding to hesitation on the part of traders. As of this writing, the major stock indices are in a tight range between off 0.04% and up 0.30%. Crude oil is lower by about 1.15%, while gold is up about 0.35%.

Stocks rose strongly on Thursday morning amid optimism that the Federal Reserve has finished with rate hikes - at least for the remainder of 2023. On Wednesday, the Fed held rates steady, as expected, though Fed Chair Jerome Powell reiterated that it could raise rates again to maintain progress against inflation. On the earnings front, investors weighed strong reports from Starbucks and Shopify and awaited results from Apple after the close. The Dow rose 1.2%, the S&P 1.5%, and the Nasdaq 1.4%. Crude oil rose more than 1% to $81 per barrel, while gold traded near $1991 per ounce.

On Tuesday, Treasury yields broke to new recovery highs and the stock market shrugged yet again. The small- and mid-caps had a good day, with the Russell 2000, the S&P 600, and the S&P 400 all rising 1.1% to 1.2%. Regional banks, some of which reported Q3 earnings, also had a good day, with the SPDR S&P Regional Bank ETF (KRE) popping. Still, the KRE is not far from its bear-market lows following the implosion early this year in the industry.

For at least one day, the major stock indices on Monday looked over the edge of the cliff, didn't like the view, took a few steps back, and rallied in the last hour of trading. Chalk one up for the bulls, as the major indices not only held important support areas but did it in the face of the continued selloff in bonds and corresponding higher interest rates. The bears must be gnashing their teeth after a day like Monday.

The major indices have fallen in three consecutive weeks for the first time since December 2022, when they all fell four weeks in a row. The Nasdaq fell to its key 21-week exponential average (EMA) on Friday and bounced, while the S&P 500 was within 10 points of its 21-week EMA before bouncing. The Nasdaq 100 (QQQ) got within four points of the average and popped. Rebounds on Friday did nothing to erase the short-term downtrends, as the 10- and 21-day EMAs for the indices are above declining price and the indices all undercut their 50-day.

Stocks rose modestly on Friday morning as investors weighed more 2Q earnings reports and looked ahead to the Fed's interest rate decision next week. American Express shares fell, despite better-than-expected earnings, on concerns about rising loss provisions and slower card spending in the second half of the year. CSX also fell after the railroad operator reported second-quarter revenue and earnings that were down from the prior year. The Dow rose 0.2%, the S&P 0.4%, and the Nasdaq 0.3%. Crude oil rose 1% to $76.50 per barrel, while gold traded near $1961 per ounce.

The major indices were little changed on Friday morning, as gains in the Consumer Discretionary and Staples sectors were offset by declines in Financials, Energy, and Materials. On the earnings front, Procter & Gamble shares rose more than 3% after the company posted better-than-expected fiscal 3Q earnings, helped by price increases and strong sales of new products, and raised its full-year sales forecast. Hospital operator HCA Healthcare also rose 5% after reporting strong 1Q results and raising its sales and earnings guidance. The Dow fell 0.1%, the S&P fell 0.1% and the Nasdaq was flat. Crude oil rose to $78 per barrel, while gold dropped $31 to $1988 per ounce.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Stocks fluctuated on Tuesday morning following more earnings reports from major companies. Verizon reported strong subscriber growth in 4Q, but offered disappointing 2023 guidance, while Johnson & Johnson posted mixed results and projected above-consensus earnings in 2023. GE posted better-than-expected 4Q earnings, but offered below-consensus guidance. The Dow was flat, and the S&P and the Nasdaq both fell 0.1%. Crude oil fell nearly 2% to $80 per barrel, while gold rose $3 to $1932 per ounce.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Monday Tee Up: Earnings, Inflation Data, and GDP

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks were mixed on Thursday morning following earnings reports from Tesla, AT&T, and United Airlines, and new weekly employment data. Investors also weighed a rate hike in Europe. The European Central Bank announced a 50-basis-point hike in its benchmark interest rate, more than the 25-basis-point increase that had been expected and the first hike since 2011. The move sent the euro higher against the dollar, though the gains were tempered by political turbulence in Italy following the resignation of Prime Minister Mario Draghi. The Dow fell 0.4%, the S&P rose 0.2%, and the Nasdaq rose 0.4%. Crude oil fell nearly 4% to $96 per barrel, while gold traded near $1710 per ounce.

As we detailed recently, short-term market breadth was very strong during last week's rally. But longer-term measures of breadth take more than a week to turn from a bearish condition, so we still don't have enough time or evidence to forecast with confidence that a final low is in.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks were mixed on Thursday morning after giving up strong early gains. Tesla shares rose more than 6% after the carmaker posted better-than-expected 1Q sales and earnings, helped by price increases that more than offset the impact of higher costs. American Airlines shares also rose strongly after the company posted a narrower-than-expected 1Q loss and forecast a return to profitability in the second quarter. The Dow rose 0.3%, the S&P rose 0.2%, and the Nasdaq fell 0.1%. Crude oil rose more than 1% to $103.50 per barrel, while gold fell $14 to $1942 per ounce.

Stocks stumbled early in 2022. Growth stocks were the weakest, as Technology, Communication Services, and Consumer Discretionary underperformed. Leading sectors tended to be value-oriented, including Energy, Financial, and Utilities. The average stock in the Argus universe declined 2% in 1Q22, and the median stock declined 4%. The average BUY-rated stock dropped 3.2%, while the average HOLD-rated stock gained 1.4%. Will investors continue to favor value? Will high inflation drive continued outperformance in Energy and Materials? Given interest rates that remain historically low, we expect growth stocks to outperform over time and believe that 2022 simply may be the one-in-five years that value leads. Investors seeking value are encouraged to focus on dividends and yields in the 3%-4% range. Our current Over-weights sectors are Energy, Financial, Healthcare, Industrials, and Materials.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks pared sharp early losses on Friday morning amid mixed fourth-quarter earnings, as interest rate uncertainty continued to weigh on sentiment. Netflix shares plunged more than 20%, despite better-than-expected 4Q earnings, after the company projected that it would add 2.5 million streaming subscribers in 1Q, down sharply from the fourth quarter and well below the consensus forecast of 5.9 million. The Dow fell 0.1%, the S&P 0.4%, and the Nasdaq 0.7%. Crude oil fell slightly to $85 per barrel, while gold traded near $1835 per ounce.

Stocks were mixed on Thursday morning following earnings reports from IBM, Tesla, and Blackstone, and new employment data. IBM shares fell more than 7% after the company posted weaker-than-expected third-quarter revenue, while Tesla rose 3% after strong 3Q earnings, driven by record vehicle deliveries. On the employment front, the Labor Department said that first-time claims for state unemployment benefits fell to 290,000 for the week ended October 16, down from 296,000 a week earlier and below the consensus forecast of 297,000. The Dow fell 0.2%, the S&P was flat, and the Nasdaq rose 0.4%. Crude oil fell more than 1% to $82 per barrel, while gold traded near $1781 per ounce.

Stocks saw additional selling on Tuesday, with the S&P 500 losing 0.6%, the Nasdaq falling 0.5%, the Nasdaq 100 (QQQ) giving up only 0.3%, the S&P MidCap 400 shedding 0.8%, and the Russell 2000 hit for 1.3%. NYSE breadth was -1561, the worst daily reading since late August.

Stocks edged higher on Thursday as investors weighed a new round of earnings reports along with employment and housing market data. AT&T posted better-than-expected 2Q results, reflecting strong growth in wireless subscribers, and raised its full-year guidance. Texas Instruments also topped consensus estimates, though the shares fell 5% on a lower-than-expected 3Q sales forecast. On the housing front, the National Association of Realtors said that sales of existing homes rose 1.4% to an annualized 5.86 million units in June, slightly below the consensus forecast. First-time jobless claims rose to 419,000, up from the prior week and above consensus. Continuing claims fell by 29,000 to 3.236 million. The Dow rose 0.07%, the S&P 0.20%, and the Nasdaq 0.36%. Crude oil rose 2% to $71.50 per barrel, while gold rose $4 to $1808 per ounce.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Drivers continue to face the highest gas prices in three years, just in time for what is perhaps the most-meaningful summer driving season in a very long time. Propelling gas prices is West Texas Intermediate (WTI), which is now at $70/barrel, the highest point since October 2018. Gasoline futures are at $2.22, the highest level since May 2018 -- and not far from the highest since late 2014.

Stocks rose on Friday morning amid strong manufacturing and housing market data. The rally followed a Thursday afternoon selloff prompted by the Biden administration's plan for increased capital gains taxes on high earners with incomes above $1 million. IHS Markit said that its manufacturing purchasing managers' index rose to 60.6 in the first half of April, up from a final reading of 59.1 in March and slightly above the consensus forecast. On the housing front, the Commerce Department said that U.S. new home sales rose 20.7% to an annualized 1.021 million units in March, above the consensus of 886,000. The Dow rose 0.5%, the S&P 0.9%, and the Nasdaq 1.3%. Crude oil traded near $62 per barrel, while gold fell $6 to $1776 per ounce.

Stocks fell on Monday morning, giving up early gains amid concerns about congressional opposition to the Biden administration's $1.9 trillion stimulus plan and the impact of new coronavirus variants. Moderna shares rose more than 7% after the company said that it was developing a new version of its COVID-19 vaccine to better target a rapidly spreading South African variant of the disease. Meanwhile, Merck said that it would halt the development of its COVID vaccines after disappointing clinical trial data. The Dow fell 1.1%, the S&P 0.7%, and the Nasdaq 0.2%. Crude oil traded near $52 per barrel, while gold fell $4 to $1852 per ounce.

Stocks fluctuated on Thursday morning amid mixed earnings reports, new weekly employment data, and diminishing prospects for a pre-election stimulus deal. Tesla shares rose after the company posted stronger-than-expected 3Q earnings and reiterated its full-year forecast of 500,000 vehicle deliveries. Coca-Cola shares also rose following above-consensus results, reflecting strength in at-home sales. On the employment front, the Labor Department said that initial claims for state unemployment benefits fell to 787,000 for the week ended October 17, down from 842,000 a week earlier and below the Bloomberg consensus forecast of 870,000. The Dow rose 0.1%, the S&P rose 0.1%, and the Nasdaq fell 0.2%. Crude oil traded near $41 per barrel, while gold fell $29 to $1900 per ounce.