The most likely scenario is that the markets will begin to rise from here -- and that bounce is just beginning to take hold.
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Evidence suggests economic growth is set to continue.
As stocks moved lower out of the April high, you started to hear a lot more talk about the rising potential for "double-dip" recession -- a la the experience of the early 1980s where the economy, instead of embarking on a multi-year expansion, started contracting again.
With all the concerns over the sovereign debt troubles in Europe, ho-hum job growth here in the United States, and falling stock prices, I'll admit there is plenty of raw material to base these fears on.
But a closer look at what's driving the economic cycle gives us reason for hope and optimism.
The king of retail is no longer two steps behind on the launch of a new gadget.
Apple (AAPL) is synonymous with exclusivity, from its closely controlled operating systems to its top secret research. So it’s a bit surprising that for the first time ever, the mass retailer Wal-Mart (WMT) will be partnering on the launch.
When the Apple iPhone 4 debuts June 24, Wal-Mart will stock the gadget on its shelves at the exact moment the company’s namesake Apple Stores do.
And if that's not impressive enough, the Wal-Mart-iPhone deal is not just a first for Steve Jobs & Co. -- it’s a first for the big-box store, too.
The latest charts reveal some good opportunities to buy.
By Jim Cramer, TheStreet
Every weekend when I review the charts, I list all the ones that seem buyable or interesting on the front page of the hand-delivered booklet.
This weekend, I ran out of room. There were so many that looked like they had found solid positive momentum, or have bottomed and are on the way up.
All sorts of groups appear worth buying, including aerospace with Boeing (BA) leading the way; auto, with Magna (MGA) and Ford (F); and health care, with Cardinal (CAH), Express Scripts (ESRX), Medco (MHS), Stericycle (SRCL), and United Health (UNH) finally joining AmerisourceBergen (ABC) with nice trends (the HMOs all show up strongly, at last).
The stock market ended on an upbeat note. Have things turned around?
Value Line Index -- contains 1700 stocks so it's broader than the narrower S&P 500 or very narrow Dow 30
- Ended the week up 2.32% but that's still down 1.34% for the month
- Barchart still rates the Index a 62% sell with 9 sell, 3 hold and only 1 buy signals
- The Index closed Friday below it's 20, 50 & 100 Day moving averages
Barchart Market Momentum -- The percentage of stocks closing above their Daily Moving Averages for various time frames -- Above 50% is always good
Some of the market's top minds are split on which way stocks are headed.
Has the recent correction presented investors with a chance to buy back into the market, or is it a sign of more -- and greater -- trouble to come for stocks? While the market gurus I keep an eye on are tending to lean to the bullish side of that question, there are some very bright minds on both sides of the issue.
On the bullish side, for example, there's Bob Doll, portfolio manager and chief equity strategist for fundamental equities for Blackrock. In an opinion piece for The Wall Street Journal this week, Doll said that despite the formidable challenges the U.S. faces, “overweight positions in U.S. equities are more than warranted”.
A World Bank study finds that faster budget-cutting in some economies hurts growth.
Ah, somebody is finally spelling out the trade-offs if the world's developed economies move now to cut government spending or to raise taxes!
This isn't another one of those exercises that says health care spending and welfare payments will get cut if governments adopt austerity budgets. Really? No kidding. If governments cut spending, governments will spend less?
No, what the World Bank has done is to look at what the effects of different timing for cuts in government spending would do to growth in different parts of the world.
Activist investor says he has enough shares to trigger creditors' default provisions.
Icahn, who holds 19 percent of Lionsgate's outstanding shares and likely will be tendered another 5.4 percent by Mark Cuban and about 4 percent by individual investors, said he had enough shares to trigger "cross-defaults" on Lionsgate's outstanding debt, which he put at "over $472 million of bond indebtedness."
Warning that Lionsgate may not have enough money to repay its debt all at once, Icahn said that could send the company into voluntary bankruptcy.
Stay away from those rare coins sold at a premium that some website is offering.
If you don't think gold is in a bubble, and want to diversify your portfolio to include the precious metal, there are plenty of ways to do it. Check out the SPDR Gold Trust (GLD), for example.
And, as CBSMoneyWatch.com shows, there are terrible ways to buy gold. Kathy Kristof lists the five worst ways to buy, and it's a good read before venturing into the gold business:
Premium promotion was a huge success, proving "new upscale" items are crucial to fast food companies
Burger King (BKC) launched a bit of an unexpected campaign this summer with its barbecue pork ribs. With a price tag north of $7 for eight pieces, the ribs are an oddity in an era when many other merchants are offering up bargains for cash-strapped consumers.
Well it turns out Burger King's rib deal may wind down sooner than expected -- but perhaps not for the reason some think. Demand turned out to be so strong for the tasty barbecue items that BK has just sold its 10 millionth rib and expects to exhaust its supply this month!
This is great news for Burger King and its shareholders, and could be a further sign of a moment towards a "new upscale" in fast food where higher-priced, higher-margin items compliment traditional offerings of cheap burgers and fries.
Spanish banking behemoth Banco Santander announces good news -- if you can believe it.
By Jim Cramer, TheStreet
My checklist keeps getting granted. The other day, I said one of the six things we need to see before the market can make real gains was some stabilization in the Spanish banking situation, particularly with Banco Santander (STD). Last night, on the way home, I said that in order for a second-day follow-up rally, you had to have STD go higher.
Voila, my wish has been granted. The CEO this morning said the interim picture for the continent's largest bank is "brilliant." He reiterated that the year would be good, and next year would be at least as good. He also declared the dividend.
The good news is igniting a second-day rally in Europe, which should spill over here. (No pun intended, but the spill stock, BP (BP), is climbing, too.)
Positive trial results, market advantages and platform technology.
Written by Douglas Estadt
Wall Street Media presents exclusive video of the internationally renowned Interventional Radiologist and Delcath’s Chief Medical Officer, Dr. Krishna Kandarpa, MD, Ph.D. Dr. Kandarpa discusses PHP’s extremely positive trial results and market advantages and potential. He also clarifies recent inaccuracies concerning PHP in the media.
- There are no requirements under Delcath’s SPA for enrollment minimums for either ocular or cutaneous melanoma
One well-respected indicator suggests that economic growth may have peaked.
We're talking about the ECRI Weekly Leading Index, which Jon Markman calls "the most prescient statistical guide to the health of the U.S. economy."
The ECRI is set to go negative Friday for the first time since early 2009, which Markman says will spook super-bulls and make super-bears happy.
GM gives -- and apparently later retracts -- license to kill the word 'Chevy.'
General Motors caused a ruckus this week by telling employees to phase out the "Chevy" nickname in favor of "Chevrolet."
The company asked workers to say "Chevrolet" when talking to a dealer or even when speaking with friends or family, according to a memo obtained by The New York Times.
Why kill off one of the most beloved American brand names? To be consistent, the memo said.
Companies used to split their stocks to keep prices attractive. Not anymore.
That's the opinion of Howard Silverblatt, a senior index analyst at Standard & Poor's, according to Bloomberg. Three companies in the S&P 500 Index are splitting this week, which is a little unusual.
But a decade ago, Bloomberg reports, that would have been par for the course.
The stock looks locked into a short-term down trend.
The stock has not performed well on up days for the market and looks locked into a short-term down trend. (On the chart, Microsoft is flirting with a negative cross-over, where the 50-day moving average breaks below the 200-day moving average.) The stock traded just below $25 in late Wednesday trading.
I might want to own this one in the fall again when visions of higher sales for the Vista operating system and for Office 2010 start to dance in investors' heads.
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Serious issues like drought and the deterioration of the developed world spell opportunity for this industry leader.
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[BRIEFING.COM] The stock market ended the holiday-shortened week on a mixed note as the Dow Jones Industrial Average shed 0.1%, while the S&P 500 added 0.1% with seven sectors posting gains.
Equity indices faced an uphill climb from the opening bell after disappointing quarterly results from Google (GOOG 536.10, -20.44) and IBM (IBM 190.04, -6.36) weighed on the early sentiment. Google reported earnings $0.15 below the Capital IQ consensus estimate on revenue of $15.42 ... More
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