Stocks are trading lower on Tuesday morning on some weaker-than-expected economic data as well as growing concerns that AI-related stocks are overbought at this juncture. Specifically, the Conference Board's Leading Economic Index slipped 0.4% in January and was lower than the expected 0.3% drop. The index was down 3.0% over the past six months -- a narrower decline than the preceding six-month period, which fell by 4.1%. Still, with six of the 10 index components being positive over the past six-month period, the index no longer is signaling a recession ahead. Turning to stocks, shares of Nvidia (NVDA) are down today, with the company reporting earnings tomorrow after market close. Despite expectations for positive earnings results, the selloff indicates many investors may be concerned that the shares are due for a pullback following an impressive run this year (which saw shares rise over 50% to an all-time high set last week). Shares of other tech companies which also saw strong gains related to AI prospects are trading lower on overvaluation concerns, including Arm Holdings (ARM), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI).

Global stocks are picking up the pace. While the S&P 500 has jumped almost 11% in the past month, the EAFA index of large- and mid-cap stocks based in countries other than the U.S. and Canada has risen 10%. Over the past six years, the performance gap has been wider, with the S&P 500 advancing 12% compared to a 7% gain for the EAFE. But the underperformance has given global stocks a valuation advantage, particularly in the area of dividends. The EAFE dividend yield of 2.4% is 80 basis points higher than the comparable S&P 500 dividend yield. We think global dividend stocks now offer opportunity, particularly given the endless speculation over the direction of interest rates in the U.S., which has created market-timing headaches for equity income investors. Those investors have endured recent wide swings in prices for rate-sensitive equity sectors such as Utilities, REITs and MLPs. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this asset class for U.S. investors, including a wide selection of companies that pay dividends, robust industry diversification, and, as we have mentioned, higher yields and lower valuations. Argus has recently boosted its global coverage, and recommends the following international dividend stocks, each of which has at least a long-term HOLD rating from an Argus analyst.

First Look at 3Q23 Earnings: The Beat Goes On

Weekly insider-sentiment data from Vickers Stock Research is almost exactly what we'd expect at the start of earnings season. Almost. Transaction volume is low, as many insiders are unable to trade while they await earnings reports. Eight-week sell/buy ratios from Vickers are of little concern, reflecting previous bullish trading activity that became more cautious as insiders came closer to the blackout period. And finally, Vickers overall Insider Index, which reflects transactions over six months, has flat-lined ahead of earnings.

In this edition, global oil inventories face future; feeling the internet's backbone; and initiating coverage of Qualys; and Lithium Americas, Bausch & Lomb and Macy's.

In this edition, railroads may be in for a bumpy ride; ESG has some opportunities; biotechs innovate; and Constellation Brands, Autodesk, and Tencent.

In this edition, railroads may be in for a bumpy ride; ESG has some opportunities; biotechs innovate; and Constellation Brands, Autodesk, and Tencent.

There is a large dichotomy between sentiment when the stock market is in a bear market and sentiment when the stock market is in a bull market. For many, this is hard to grasp. But it happens, cycle after cycle.

Global stocks are on a run. While the S&P 500 has jumped almost 8% year-to-date, The EAFA Index of large- and mid-cap stocks based in countries other than the U.S. and Canada has risen 9%. Over the past six months, foreign stocks also have outperformed, climbing 11% versus a 1% decline by the U.S. market. The story is different over the past five years, as the S&P 500 has risen 50% and global stocks have fallen 1%. Even so, the long outperformance has given global stocks a valuation advantage, particularly in the area of dividends. The EAFE dividend yield of 2.7% is 100 basis points higher than the comparable S&P 500 dividend yield. We think global dividend stocks now offer opportunity, particularly given the endless speculation over the direction of interest rates in the U.S., which has created market-timing headaches for equity income investors - who have endured recent wide swings in prices for rate-sensitive equity sectors such as utilities, REITs and MLPs. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S. interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this asset class for U.S. investors, including a wide selection, robust industry diversification, and, as we have mentioned, higher yields and lower valuations. Argus recently boosted its global coverage, and recommends the following international dividend stocks, each of which has at least a long-term BUY rating from an Argus analyst. This list of approximately 25 companies offers exposure to eight of the 11 major industrial sectors. The list includes companies from 10 countries.

Monday Tee Up: The Fed, Jobs, Earnings Roll On

Dividends are supposed to lend stability to a portfolio. However, U.S.-based income investors have experienced a high degree of volatility in recent years, as the Federal Reserve since 2018 has embarked on two campaigns to raise interest rates, sandwiched around a desperate program that lowered the federal funds rate to zero in order to help the economy recover from the pandemic. The endless speculation over the direction of rates has created market-timing headaches for equity income investors. They have endured wide swings in prices for rate-sensitive equity sectors such as Utilities, REITs and MLPs. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this asset class for U.S. investors, including a wide selection, robust industry diversification, higher yields, and lower valuations. Argus has recently boosted its global coverage, and recommends the following international dividend stocks. Note this list of 25 companies offers exposure to eight of the 11 major sectors. The list includes companies from 10 countries.

Stocks rose again on Friday morning, led by gains in the Consumer Discretionary and Energy sectors, as investors looked past Thursday's weak GDP numbers. Apple rose nearly 3% and Amazon nearly 11% following strong earnings reports. Exxon and Chevron also rallied after posting record profits. The Dow rose 0.5%, the S&P 0.8%, and the Nasdaq 1.0%. Crude oil rose 4% to $100 per barrel, while gold traded near $1780 per ounce.

Stocks rallied on Thursday, recovering from recent sharp losses as investors weighed more 1Q earnings from major companies and new GDP and employment data. The Commerce Department reported that the U.S. economy contracted at a 1.4% annualized rate in 1Q, below the consensus growth forecast of 1.1% and the first decline since 2Q20. Weekly employment data was better than expected. First-time claims for state unemployment benefits fell to 180,000 for the week ended April 23, down from 185,000 a week earlier and below the Bloomberg consensus of 184,000. On the earnings front, Meta shares rose more than 17%, despite mixed 1Q results, after the company reported better-than-expected growth in daily active users. The Dow rose 1.85%, the S&P 2.47%, and the Nasdaq 3.06%. Crude oil traded near $105 per barrel, while gold rose $8 to $1897 per ounce.

Stocks were mixed on Thursday amid continued inflation concerns. The Technology and Materials sectors finished higher while Industrials, Communication Services, and Utilities declined. Disney shares fell sharply following weaker-than-expected 4Q results and disappointing subscriber growth in the Disney+ streaming service. Electric vehicle maker Rivian jumped 22% and has now risen more than 50% since its Wednesday IPO. The Dow fell 0.44%, the S&P rose 0.06%, and the Nasdaq rose 0.52%. Crude oil fell slightly to $81 per barrel, while gold rose $16 to $1865 per ounce.

Stocks were mixed on Thursday amid continued inflation concerns. The Technology and Materials sectors finished higher while Industrials, Communication Services, and Utilities declined. Disney shares fell sharply following weaker-than-expected 4Q results and disappointing subscriber growth in the Disney+ streaming service. Electric vehicle maker Rivian jumped 22% and has now risen more than 50% since its Wednesday IPO. The Dow fell 0.44%, the S&P rose 0.06%, and the Nasdaq rose 0.52%. Crude oil fell slightly to $81 per barrel, while gold rose $16 to $1865 per ounce.

The July 19 trading week began with somber discussions of an overdue correction, and stocks wobbled - but investors bought the dip and shares raced to new all-time highs. Although stocks suffered a drubbing on Monday of that week, with the benchmark S&P 500 down 1.6% for the session, they clawed back on Tuesday through Thursday and then staged a big-finish Friday.

Dividends are supposed to lend stability to a portfolio. However, U.S.-based equity income investors have experienced a high degree of volatility in recent years as the endless speculation over the direction of rates has created market-timing headaches. Investors have endured wide swings in prices for rate-sensitive equity sectors such as utilities, REITs and MLPs. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this segment for U.S. investors.

Stocks edged higher on Wednesday morning as the yield on the 10-year Treasury fell below 1.5%, signaling reduced inflation concerns. On the earnings front, Campbell Soup shares fell nearly 6% after the company reported below-consensus fiscal 3Q results and lowered its full-year guidance. The Dow rose 0.1%, the S&P 0.2%, and the Nasdaq 0.2%. Crude oil traded near $70 per barrel, while gold fell $2 to $1893 per ounce.

When the investing environment is potentially undergoing a major trend change, investors find themselves deciding if good news is good or bad, and if bad news is bad or good. The current major trend change encompassing the investing environment is the rise in interest rates; and the good news/bad news event was the February nonfarm payrolls report.

Into the Home Stretch: Our Monthly Survey of the Economy, Interest Rates, and Markets

Dividends are supposed to lend stability to a portfolio. However, U.S.-based equity income investors have experienced a high degree of volatility in recent years. In our view, investing in international income stocks is one way to increase portfolio diversification while reducing sensitivity to volatile U.S interest rates. Investing in overseas stocks carries its own set of risks, including the impact of currency exchange and geopolitical turmoil. But there are also a number of positives in this segment for U.S. investors. One is a more robust selection of high-quality names. Yields also tend to be higher in overseas markets in general. And finally, valuations can be more attractive.

Dividends are supposed to lend stability to a portfolio. However, U.S.-based equity income investors have experienced a high degree of volatility in recent years. In 2018, the U.S. Federal Reserve embarked on an aggressive campaign to raise interest rates, causing Treasury yields to swoop and dive, resulting in a wild ride for supposedly stable U.S. high-income equities. The central bank reversed course in 2019, before moving to the sidelines. In 2020, due to the coronavirus, the Fed is back in action, cutting rates, backstopping numerous financial markets and pledging to do "whatever it takes" and "for as long as necessary." Also due to COVID-19, many U.S. companies have cut back or eliminated their dividends in order to preserve capital during the pandemic. The endless speculation over the timing of the Fed's next moves has created market-timing headaches for equity income investors. They have endured wide swings in prices for rate-sensitive equity classes such as Utilities, REITs and MLPs -- even as generally positive industry fundamentals remained largely intact. In our view, investing in international income stocks is one way to increase diversity of holdings while reducing sensitivity to the Fed's head fakes on rate policy. Investing in overseas stocks carries its own set of risks, such as currency exchange and even the potential for geo-political turmoil. But there are also lots of positives in this asset class for U.S. investors, including a wide selection, robust industry diversification, higher yields and lower valuations. Argus has boosted its global coverage, adding the following BUY-rated international dividend stocks.

Dividends are supposed to lend stability to a portfolio. However, U.S.-based equity income investors have experienced a high degree of volatility in recent years. In 2018, the U.S. Federal Reserve embarked on an aggressive campaign to raise interest rates, causing Treasury yields to swoop and dive, resulting in a wild ride for supposedly stable U.S. high-income equities. The central bank reversed course in 2019, before moving to the sidelines. In 2020, due to the coronavirus, the Fed is back in action, cutting rates, backstopping numerous financial markets and pledging to do "whatever it takes" and "for as long as necessary." Also due to COVID-19, many U.S. companies have cut back or eliminated their dividends in order to preserve capital during the pandemic. The endless speculation over the timing of the Fed's next moves has created market-timing headaches for equity income investors. They have endured wide swings in prices for rate-sensitive equity classes such as Utilities, REITs and MLPs -- even as generally positive industry fundamentals remained largely intact. In our view, investing in international income stocks is one way to increase diversity of holdings while reducing sensitivity to the Fed's head fakes on rate policy. Investing in overseas stocks carries its own set of risks, such as currency exchange and even the potential for geo-political turmoil. But there are also lots of positives in this asset class for U.S. investors, including a wide selection, robust industry diversification, higher yields and lower valuations. Argus has boosted its global coverage, adding the following BUY-rated international dividend stocks.

So far, the major indices (S&P 500, Nasdaq, Nasdaq 100) have seen only minor technical damage, with most of them finding support from their respective 50-day moving averages last week. Yet the attempted bounces have been weak, running out of gas at their 10-day simple and 21-day exponential averages. All the indices have broken their uptrends off the secondary low from early April.

So far, the major indices (S&P 500, Nasdaq, Nasdaq 100) have seen only minor technical damage, with most of them finding support from their respective 50-day moving averages last week. Yet the attempted bounces have been weak, running out of gas at their 10-day simple and 21-day exponential averages. All the indices have broken their uptrends off the secondary low from early April.

So far, the major indices (S&P 500, Nasdaq, Nasdaq 100) have seen only minor technical damage, with most of them finding support from their respective 50-day moving averages last week. Yet the attempted bounces have been weak, running out of gas at their 10-day simple and 21-day exponential averages. All the indices have broken their uptrends off the secondary low from early April.