Stocks were mostly higher on Wednesday morning after a three-day losing streak ahead of Friday's PCE reading. Trump Media & Technology Group (DJT) is up 15%, while GameStop is down 15% after reporting disappointing 4Q results. The S&P 500 rose 0.2%, the Dow was up 0.6% and the Nasdaq lost 0.2%. Crude oil traded below $82 per barrel and gold was up $12 to $2211 per ounce.

Stocks headed higher on Monday with the S&P 500 on track to hit another all-time high. This month's FOMC decision on January 31 is widely expected to result in uncaged interest rates, while future rate-cut expectations have become less optimistic. Turning to stocks, shares of Archer-Daniels-Midland (ADM) are down sharply after the company placed the CFO on administrative leave and cut its earnings outlook while it investigates accounting practices related to its nutrition unit. The Dow rose 0.4%, the S&P 500 was up 0.3% and the Nasdaq gained 0.5%. Crude oil traded above $75 per barrel, while gold fell $4 to $2025 per ounce.

Stocks edged higher on Wednesday morning as investors weighed new producer price data and awaited the release of the Fed's latest meeting minutes. The Labor Department said that its producer price index for final demand rose 0.5% in September, down from 0.7% in August but above the Reuters consensus forecast of 0.3%. The core PPI, excluding food and energy, rose 0.3%, above the consensus of 0.2% growth. In M&A news, Exxon announced plans to acquire Pioneer Natural Resources in a $59.5 billion all-stock deal. The acquisition is Exxon's largest since its purchase of Mobil in 1999. The Dow rose 0.2%, the S&P 0.1%, and the Nasdaq 0.3%. Crude oil fell 2% to $84 per barrel, while gold rose $10 to $1885 per ounce.

Stocks stumbled in 3Q, as the S&P 500 declined about 3.5% after gaining for three quarters in a row before that. The new bull market remains intact, but is wobbling from labor strife, high interest rates, and a (for now at least) deferred government shutdown. Year-to-date, the broad market index is up about 11.7%. Sector performance shifted in 3Q, as value-oriented groups such as Energy and Financial Services were leaders. The Technology sector dropped 3.0%, but remains up 34% year-to-date. The average stock in the broadly diversified Argus Fundamental Universe of Coverage declined 3.2% during the quarter, and the median stock fell 4.7%. The average BUY-rated stock dipped 2.3%, while the average HOLD-rated stock gave back 5.3%. Here are the 10-best (many from the Energy sector) and five-worst performers from the Argus Universe in 3Q23.

Teva Pharmaceutical, based in Israel, is the leading generic drug manufacturer in the world. Teva derives half of its sales from North America and makes up a high-single-digit percentage of the total number of generic prescriptions in the U.S. It also has a significant presence in Europe, Japan, Russia, and Israel. Besides generics, Teva has a portfolio of innovative medicines and biosimilars in three main therapeutic areas: central nervous system with Copaxone, Ajovy and Austedo; respiratory with Qvar and ProAir; and oncology with Truxima, Herzuma, and Bendeka/Treanda. Teva also sells active pharmaceutical ingredients, offers contract manufacturing services, and owns Anda, a U.S.-based generic and specialty drug distributor.

Teva Pharmaceutical, based in Israel, is the leading generic drug manufacturer in the world. Teva derives half of its sales from North America and makes up a high-single-digit percentage of the total number of generic prescriptions in the U.S. It also has a significant presence in Europe, Japan, Russia, and Israel. Besides generics, Teva has a portfolio of innovative medicines and biosimilars in three main therapeutic areas: central nervous system with Copaxone, Ajovy and Austedo; respiratory with Qvar and ProAir; and oncology with Truxima, Herzuma, and Bendeka/Treanda. Teva also sells active pharmaceutical ingredients, offers contract manufacturing services, and owns Anda, a U.S.-based generic and specialty drug distributor.

Monday Tee Up: Labor (The Fed's Other Job)

Stocks rallied on Friday morning following a better-than-expected April employment report and a recovery in regional bank stocks. The Labor Department said that the U.S. economy generated 253,000 new payroll jobs in April, above the Reuters consensus of 180,000 and a revised 165,000 in March. The unemployment rate fell to 3.4% from 3.5%. The Dow rose 1.2%, the S&P 1.4%, and the Nasdaq 1.7%. Crude oil rose nearly 4% to $71 per barrel, while gold traded near $2022 per ounce.

Stocks rose on Tuesday morning as investors weighed earnings reports from General Motors, Pfizer, and McDonald's, and awaited the Fed's interest rate announcement on Wednesday. GM shares jumped 7% after the automaker posted much better than expected 4Q sales and earnings. On the inflation front, new data pointed to slower growth in labor costs. The Labor Department said that its employment cost index rose 1.0% in 4Q, down from 1.2% growth in 3Q and below the Reuters consensus forecast of 1.1% growth. The Dow rose 0.2%, the S&P 0.5%, and the Nasdaq 0.9%. Crude oil rose 1% to $79 per barrel, while gold rose $5 to $1944 per ounce.

The stock market had another good run in the trading week ended August 12, as FOMO (fear of missing out) seems to be in high gear. Most investors, both pros and individuals, were sitting with little equity exposure at the June lows. Can you blame them? The market was ugly, the news was frightening, yields and commodities were surging, inflation was roaring, Fedspeak was getting more aggressive, and worries about the economy and EPS were out of control. So what happened?

Stocks rallied on Friday morning, helped by strong retail sales data and a positive earnings report from Citigroup. The Commerce Department said that U.S. retail sales rose 1.0% in June after a 0.1% decline in May. The reading exceeded the Reuters consensus forecast of 0.8% growth. Citigroup shares jumped more than 10% after the company reported stronger-than-expected sales and earnings. The Dow rose 1.9%, the S&P 1.7%, and the Nasdaq 1.3%. Crude oil rose more than 2% to $98 per barrel, while gold fell $2 to $1704 per ounce.

Based in Israel, Teva is one of the world’s largest generic drug manufacturers, with over 3,500 products marketed in over 60 countries. While a majority of its revenue is attributed to prescription generic drugs, Teva develops and markets its own branded specialty and biopharmaceutical products, primarily in the U.S. and in Europe. The company’s branded portfolio generates one fifth of total revenue and consists of patented therapies targeting central nervous system conditions (Austedo, Ajovy, Copaxone), oncology (Bendeka/Treanda), and respiratory conditions (ProAir, Qvar). While global competition has facilitated the commodification of small-molecule generic drugs, Teva’s portfolio rationalization has resulted in less overall price erosion versus peers.

Based on the trading week ended April 14, the song remains the same. Commodities are still king while stocks, especially higher-beta issues, remain in the dumpster. This shouldn't be a surprise, at least based on technical analysis. Indeed, intermediate- to longer-term trends and price momentum tend to go hand-in-hand for longer than most expect.

This edition features Dollar Tree's solid quarter, Self-Injectors' potential, Barratt's bright earnings potential, and Bayer, Salesforce.com, and Veeva.

In 2021, several major corporations announced that they were splitting into pieces, and we don't think the dismantling of conglomerates has run its course. Last year, industrial icon General Electric decided to split into three companies, with one focused on Aerospace, one on Healthcare, and one on Power/Energy. Pharmaceutical titan Johnson & Johnson also announced it is planning to carve off its consumer division and focus just on drugs and devices. These companies, which took generations to build, have abruptly concluded that their best growth opportunities exist for them as smaller, more-nimble, and more-focused companies. Former conglomerate United Technologies blazed this trail in 2020. UTX, now Raytheon Technologies, or RTX, is now three listed firms, with focuses on Aerospace, HVAC and Elevators. This split-up has most favored the HVAC company Carrier Global Holdings Corp. (CARR), which has risen more than 200%. The other businesses are only slightly trailing the broad market. We think investors can benefit from these transactions if they look closely at the resulting companies and focus on the balance sheet, management, and earnings transparency. Companies that potentially fit this theme for 2022 include the following.

Good Earnings Will Try to Reverse the Market's Bumpy Start

In a volatile September, insiders generally were more bullish than bearish, buying dips and staying otherwise in the game. In the first week of October -- the beginning of a quarter (the fourth) that historically is favorable for stocks -- those same insiders were more cautious.

The stock market moved higher last week as the market digested a busy earnings week. Tech stocks outperformed blue chips as earnings came in very strong in portions of the tech sector. During Friday's session, the Dow Jones Industrial Average increased 238 points, or 0.68%. The S&P 500 was up 1.01%, and the Nasdaq Composite was up 1.04%. For the week, the DJIA was up 374 points, or 1.08%, the S&P 500 was up 1.96%, and the Nasdaq Composite was up 2.84%. Year-to-date, the DJIA is up 14.56%, the S&P 500 is up 17.46%, and the Nasdaq Composite is up 15.12%.

The stock market moved higher last week as the market digested a busy earnings week. Tech stocks outperformed blue chips as earnings came in very strong in portions of the tech sector. During Friday's session, the Dow Jones Industrial Average increased 238 points, or 0.68%. The S&P 500 was up 1.01%, and the Nasdaq Composite was up 1.04%. For the week, the DJIA was up 374 points, or 1.08%, the S&P 500 was up 1.96%, and the Nasdaq Composite was up 2.84%. Year-to-date, the DJIA is up 14.56%, the S&P 500 is up 17.46%, and the Nasdaq Composite is up 15.12%.

The stock market moved lower last week, then rallied on Friday, ultimately finishing flat-to-down. Tech stocks and blue chips performed similarly, with tech narrowly outperforming. During Friday's session, the Dow Jones Industrial Average increased 228 points, or 0.67%. The S&P 500 was up 1.09%, and the Nasdaq Composite was up 1.44%. For the week, the DJIA was down 0.46%, the S&P 500 was up 0.13%, and the Nasdaq Composite was down 0.25%. Year-to-date, the DJIA is up 11.23%, the S&P 500 is up 11.29%, and the Nasdaq Composite is up 8.76%.

Stocks fluctuated on Thursday morning, a day after Wednesday's strong rally, as President Biden prepared to announce a new federal pandemic response strategy that will include an accelerated vaccine rollout. On Wednesday, Mr. Biden signed 17 executive orders reversing Trump administration policies in such areas as climate change, immigration, racial equality, and government accountability. On the employment front, the Labor Department reported that first-time claims for state unemployment benefits fell to 900,000 for the week ended January 16, down from a revised 926,000 a week earlier and below the Bloomberg consensus forecast of 935,000. The Dow fell 0.1%, the S&P rose 0.1%, and the Nasdaq rose 0.5%. Crude oil fell to $53 per barrel, while gold traded near $1863 per ounce.

Each week in this space, we review and comment on the latest weekly insider-trading data from Vickers Stock Research. Among other things, we discuss developing trends, changes in trends, outlier data points, and how the trading activity among corporate executives, directors and beneficial owners compares to movements in broad market indices. Rarely are we left with just a 'huh' when we look over the data. But this week is one of those weeks.

Each week in this space, we review and comment on the latest weekly insider-trading data from Vickers Stock Research. Among other things, we discuss developing trends, changes in trends, outlier data points, and how the trading activity among corporate executives, directors and beneficial owners compares to movements in broad market indices. Rarely are we left with just a 'huh' when we look over the data. But this week is one of those weeks.

This edition features the U.S. election's impact on energy infrastructure; a coronavirus update on the auto sector; the generic drug market; and notes from AMD, Morgan Stanley, and Disney.

Stocks rose on Monday morning, reversing course after Friday's selloff, despite concerns about soaring coronavirus cases in many states. Housing market data was strong. The National Association of Realtors said that its pending home sales index jumped by a record 44.3% in May to 99.6, above the Reuters consensus forecast of 18.9% growth. Boeing shares rose more than 6% after the company received FAA approval to begin flight certification testing for its grounded 737 MAX jet. The Dow rose 1.4%, the S&P 0.7%, and the Nasdaq 0.3%. Crude oil rose more than 1% to $39 per barrel, while gold rose $6 to $1786 per ounce.

Stocks rose on Monday morning, reversing course after Friday's selloff, despite concerns about soaring coronavirus cases in many states. Housing market data was strong. The National Association of Realtors said that its pending home sales index jumped by a record 44.3% in May to 99.6, above the Reuters consensus forecast of 18.9% growth. Boeing shares rose more than 6% after the company received FAA approval to begin flight certification testing for its grounded 737 MAX jet. The Dow rose 1.4%, the S&P 0.7%, and the Nasdaq 0.3%. Crude oil rose more than 1% to $39 per barrel, while gold rose $6 to $1786 per ounce.

Argus Research covers 55 leading global healthcare companies. Many of them are working on new products, vaccines and medicals supplies and equipment to help healthcare professionals treat Covid-19 patients and prevent the outbreak from spreading even further than its current trajectory projects. Argus Senior Analyst David Toung and Security Analyst Jasper Hellweg cited the following companies in the current battle.

Argus Research covers 55 leading global healthcare companies. Many of them are working on new products, vaccines and medicals supplies and equipment to help healthcare professionals treat Covid-19 patients and prevent the outbreak from spreading even further than its current trajectory projects. Argus Senior Analyst David Toung and Security Analyst Jasper Hellweg cited the following companies in the current battle.

Headquartered in Israel, Teva Pharmaceutical is the largest generic drug manufacturer in the world with more than 60 manufacturing and R&D facilities. The company was formed in 1901 and has a portfolio of more than 3,500 medicines--roughly one out of nine generic prescriptions in the U.S. is filled with a Teva product. The company also develops branded pharmaceuticals in the central nervous system, oncology, and respiratory categories. Teva's generic drug sales represent about half of total revenue, with branded drug and distribution revenue making up the balance. Teva is an aggressive filer to bring generic drugs to market when brand patents expire and has the most generic products pending FDA approval.

Stocks gyrated between gains and losses for much of Friday, finishing mixed. The Dow Jones Industrial Average declined 0.1%, while the Nasdaq Composite and S&P 500 were both up by 0.2%. For the week, the rebound continued from a late January selloff inspired by fears of the impact from the coronavirus, with the Dow rising 1.0%, the Nasdaq up by 2.2%, and the S&P 500 adding 1.6%. Year-to-date gains were pushed to 3.0% for the Dow, 8.5% for the Nasdaq and 4.6% for the S&P 500.

Stocks gyrated between gains and losses for much of Friday, finishing mixed. The Dow Jones Industrial Average declined 0.1%, while the Nasdaq Composite and S&P 500 were both up by 0.2%. For the week, the rebound continued from a late January selloff inspired by fears of the impact from the coronavirus, with the Dow rising 1.0%, the Nasdaq up by 2.2%, and the S&P 500 adding 1.6%. Year-to-date gains were pushed to 3.0% for the Dow, 8.5% for the Nasdaq and 4.6% for the S&P 500.

The major market indices all had solid performances for 2019, closing with raw price gains of 36% for the Nasdaq Composite, 24% for the Dow Jones Industrial Average and 29% for the S&P 500. Growth stocks outperformed value, as the Russell 1000 Growth Index advanced 40% compared to the Russell 1000 Value Index's gain of 24%. Small-caps underperformed, with the Russell 2000 closing 25% higher. International stocks underperformed domestic stocks, as the EAFE Index increased 19% and the MSCI Emerging Markets Index advanced 17%.

The major market indices all had solid performances for 2019, closing with raw price gains of 36% for the Nasdaq Composite, 24% for the Dow Jones Industrial Average and 29% for the S&P 500. Growth stocks outperformed value, as the Russell 1000 Growth Index advanced 40% compared to the Russell 1000 Value Index's gain of 24%. Small-caps underperformed, with the Russell 2000 closing 25% higher. International stocks underperformed domestic stocks, as the EAFE Index increased 19% and the MSCI Emerging Markets Index advanced 17%.

Stocks rose on Monday morning, reversing course after Friday's selloff, despite concerns about soaring coronavirus cases in many states. Housing market data was strong. The National Association of Realtors said that its pending home sales index jumped by a record 44.3% in May to 99.6, above the Reuters consensus forecast of 18.9% growth. Boeing shares rose more than 6% after the company received FAA approval to begin flight certification testing for its grounded 737 MAX jet. The Dow rose 1.4%, the S&P 0.7%, and the Nasdaq 0.3%. Crude oil rose more than 1% to $39 per barrel, while gold rose $6 to $1786 per ounce.

Argus Research covers 55 leading global healthcare companies. Many of them are working on new products, vaccines and medicals supplies and equipment to help healthcare professionals treat Covid-19 patients and prevent the outbreak from spreading even further than its current trajectory projects. Argus Senior Analyst David Toung and Security Analyst Jasper Hellweg cited the following companies in the current battle.

Stocks gyrated between gains and losses for much of Friday, finishing mixed. The Dow Jones Industrial Average declined 0.1%, while the Nasdaq Composite and S&P 500 were both up by 0.2%. For the week, the rebound continued from a late January selloff inspired by fears of the impact from the coronavirus, with the Dow rising 1.0%, the Nasdaq up by 2.2%, and the S&P 500 adding 1.6%. Year-to-date gains were pushed to 3.0% for the Dow, 8.5% for the Nasdaq and 4.6% for the S&P 500.

The major market indices all had solid performances for 2019, closing with raw price gains of 36% for the Nasdaq Composite, 24% for the Dow Jones Industrial Average and 29% for the S&P 500. Growth stocks outperformed value, as the Russell 1000 Growth Index advanced 40% compared to the Russell 1000 Value Index's gain of 24%. Small-caps underperformed, with the Russell 2000 closing 25% higher. International stocks underperformed domestic stocks, as the EAFE Index increased 19% and the MSCI Emerging Markets Index advanced 17%.

Each week in this space, we review and comment on the latest weekly insider-trading data from Vickers Stock Research. Among other things, we discuss developing trends, changes in trends, outlier data points, and how the trading activity among corporate executives, directors and beneficial owners compares to movements in broad market indices. Rarely are we left with just a 'huh' when we look over the data. But this week is one of those weeks.

U.S. equity markets were up on Thursday morning following a report that an interim trade deal with China was being considered. The Labor Department reported that the consumer price index rose 0.1% in August on a seasonally adjusted basis, following a 0.3% gain in July. Increases in the indexes for shelter and medical care outweighed a decline in the energy index. The energy index fell 1.9% in August as the gasoline index declined 3.5%. The food index was unchanged for the third month in a row. The Dow gained 0.3%, the S&P 0.4%, and the Nasdaq was up 0.57%. Crude oil traded near $54 per barrel, while gold rose $16 to $1520 per ounce.

U.S. equity markets were up on Thursday morning following a report that an interim trade deal with China was being considered. The Labor Department reported that the consumer price index rose 0.1% in August on a seasonally adjusted basis, following a 0.3% gain in July. Increases in the indexes for shelter and medical care outweighed a decline in the energy index. The energy index fell 1.9% in August as the gasoline index declined 3.5%. The food index was unchanged for the third month in a row. The Dow gained 0.3%, the S&P 0.4%, and the Nasdaq was up 0.57%. Crude oil traded near $54 per barrel, while gold rose $16 to $1520 per ounce.

Risk-on Leadership Bodes Well Heading into Second Half

Risk-on Leadership Bodes Well Heading into Second Half

U.S. equities traded lower on Friday morning on fears of a global slowdown based on weak reports from Europe. In addition, IHS Markit's U.S. manufacturing purchasing managers' index for March hit a 21-month low of 52.5. The 10-year note yield fell nearly 10 basis points to 2.434%, slightly below the 3-month bill. On the housing front, the National Association of Realtors said that existing home sales rose 11.8% in February to a seasonally adjusted 5.51 million. The Dow fell 1.6%, the S&P 1.7%, and the Nasdaq was down 2.1%. Crude oil fell to near $68.50 per barrel, while gold rose $4 to $1312 per ounce.

U.S. equities traded lower on Friday morning on fears of a global slowdown based on weak reports from Europe. In addition, IHS Markit's U.S. manufacturing purchasing managers' index for March hit a 21-month low of 52.5. The 10-year note yield fell nearly 10 basis points to 2.434%, slightly below the 3-month bill. On the housing front, the National Association of Realtors said that existing home sales rose 11.8% in February to a seasonally adjusted 5.51 million. The Dow fell 1.6%, the S&P 1.7%, and the Nasdaq was down 2.1%. Crude oil fell to near $68.50 per barrel, while gold rose $4 to $1312 per ounce.