Insider Financial recaps the day's stock market action and covers the five penny stocks we are watching for the rest of the week, including our new biotech stock trading on the Nasdaq under $.70.Sign up below to get our full report on this biotech penny stock!This video covers SPY, QQQ, TLT, AIRE, THRX, INVO, LIFW, SOFI, TNON, TENX, MGOL, EFSH, SLDB, EXFY, AEVA.
MARKET SUMMARY
Stocks climbed while bond yields tumbled as an unexpected inflation slowdown bolstered bets the Federal Reserve’s aggressive hiking cycle is now over — and the next move will be a rate cut next year.The S&P 500 rose nearly 2%, the most since April. Tesla Inc. led gains in megacaps and Nvidia Corp. rallied for a 10th straight session. Regional banks jumped almost 6%. The Russell 2000 index of small caps added over 5%. Goldman Sachs Group Inc.’s basket of the most-shorted stocks beat the broader market in a sign some traders are preparing to cover bearish wagers. Two-year yields plunged over 20 basis points. The dollar fell 1.2%.While Wall Street’s rally could risk further easing of financial conditions — and ultimately complicate the Fed’s job — bets on a “pivot” next year have increased. Fed swaps indicate the odds of another hike have fallen to almost zero — with the market pricing in a 50 basis-point rate cut by July.The Consumer Price Index indicated zero inflation M/M in October, less than the 0.1% increase expected and the 0.4% rise in September. The month's print was mainly due to falling gasoline prices.On a Y/Y basis, the October CPI climbed 3.2%, compared with the +3.3% expected and +3.7% prior. Fed target rate is 2%.The biggest takeaway for me today was the strength in small caps. IWM over SPY and QQQ. Rotation. Small caps have lagged while big cap tech has led the markets this year.Tomorrow we get US retail sales, business inventories, PPI, and Empire manufacturing.In the meantime, our focus here at InsiderFinancial.com continues to be on low-float penny stocks with the potential to squeeze the shorts. Our 2 p.m. alerts have been on fire!We will continue to update our subscribers with new companies to research.
BOTTOM LINE
As we keep saying, there are always opportunities in the markets, and it’s our job to find winning stocks to trade. Huge gains can be made in such a short amount of time.It’s essential to look for stocks that have yet to run. There are plenty of opportunities, and we look at hundreds of stocks weekly for our subscribers.Remember, all it takes is one or two to become a winner, and you’ve crushed the market indices (and Jim Cramer) for the year.Good luck to all (except the shorts and Cramer)!
WHEN INSIDER FINANCIAL HAS A NEW COMPANY TO RESEARCH, IT IS IMPORTANT TO PAY ATTENTION. AFTER ALL, OUR FREE NEWSLETTER PROFILED MANY TRIPLE-DIGIT WINNERS FOR SUBSCRIBERS. WE ALWAYS ARE LOOKING FOR MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have not been compensated for this article/video. Insider Financial is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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