Category Archives: Falcon’s Penny Picks

Stocks Flat To Close Losing Week

FRIDAY – Stocks were flat on Friday and the market headed for a losing week as investors braced for tighter monetary policy from the Federal Reserve.

Despite a small rebound Thursday and Friday’s early gains, the major averages were headed for weekly declines. The S&P 500 and Nasdaq were down 1% and 2.6%, respectively, for the week through Thursday’s close. The Dow was down 0.7% week to date. Those losses would mark the first weekly losses for the S&P 500 and Nasdaq in four weeks. Meanwhile, the Dow is headed for back-to-back weekly declines.

The losses have been driven by a change of tone by the Federal Reserve, signaling it will be even more aggressive to fight inflation. On Wednesday, the central bank disclosed its March meeting minutes, revealing that policymakers plan to reduce their bond holdings by a consensus amount of about $95 billion a month. The minutes also indicated potential interest rate hikes of 50 basis points in future meetings. A basis point equals 0.01%.

Investors are also looking ahead to earnings season kicking off next week with reports from five big banks.

The Dow bounced back on Thursday after two straight days of losses, ending the day up 0.25% after dropping as much as 300 points earlier in the session. The S&P 500 and Nasdaq also closed higher for the day.

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Stocks Start Week Flat

MONDAY – Stocks were steady Monday morning as a week filled with key economic reports kicked off, and investors continue to keep a close eye on the Fed’s planned interest rate hikes.

Parts of The Treasury yield curve inverted on Monday, raising some recession concerns. Earlier on Monday, the yield on the 5-year Treasury note rose to 2.6361%, while the 30-year yield was down less than 1 basis point to 2.6004%.

However, the main yield spread that traders watch — the spread between the 2-year and the 10-year rate — remained positive for now.

The Dow and S&P 500 rose on Friday to close out their second consecutive winning week. The Dow gained 153 points, or 0.4%. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. Meanwhile, the Nasdaq Composite dipped 0.2% but still finished the week in the green.

The moves came as investors continue to monitor developments in Russia’s war on Ukraine and expectations about the Fed’s plans to hike interest rates.

Investors are looking forward to the Job Openings and Labor Turnover Survey, or JOLTS, this week. The JOLTS report is one set of employment data that the Federal Reserve is watching closely as it tightens monetary policy.

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Stocks Now Mixed, S&P Still Higher

HTML clipboard FRIDAY – The S&P 500 was steady Friday as the benchmark index looked to close out its second consecutive positive week.

Overall, stocks were mixed early.

For the week, the S&P 500 and Nasdaq are up more than 1% and 2%, respectively. The Dow is marginally higher.

The S&P 500 is now up more than 3% in March, more than erasing its losses since Russia invaded Ukraine late last month.

The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year – some analysts saying as many as seven increases.

On Monday, Fed Chair Jerome Powell vowed to be tough on inflation. The remarks came after the Federal Reserve raised interest rates for the first time since 2018 last week, with hikes coming at each of the six remaining policy meetings this year.

Powell noted rate hikes could go from quarter-percentage-point moves to more aggressive half-point increases.

The central bank chief’s comments led Wall Street to raise rate hike expectations, with firms from Goldman Sachs to Bank of America penciling in half-point hikes in future Fed meetings this year.

Meanwhile, investors looked to promising signs the economy can run strong even as the Fed tightens monetary policy to address inflation.

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Stocks Extend Losses

U.S. stocks eased Wednesday as oil prices rose, renewing inflation fears.

The Dow Jones Industrial Average dropped about 410 points, or 1.2%. The S&P 500 declined 1%. The Nasdaq Composite dipped 0.9%.

Traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.

Oil prices ticked higher on the day, with international oil benchmark Brent crude advancing nearly 5% to top $120 per barrel. U.S. crude gained around 4% to more than $114 per barrel.

The 10-year U.S. Treasury yield surpassed 2.41% at its session high Wednesday, the highest since May 2019. The benchmark rate has surged since the beginning of the week, when Federal Reserve Chairman Jerome Powell vowed to be aggressive on inflation. The Fed last week raised interest rates for the first time since 2018.

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Stocks Wobble As Traders Await Fed

WEDNESDAY – U.S. stock indexes barely moved on Wednesday as shares of FedEx fell while investors awaited a policy decision by the Federal Reserve.

At 10:00 a.m. ET, Dow Jones Industrial Average was down just about 100 points. S&P 500 and Nasdaq 100 were also little changed.

Concerns over global growth and U.S.-China trade talks were also renewed to keep stock gains subdued.

Bloomberg News reported some U.S. officials are worried China could walk back on some concessions. However, The Wall Street Journal said U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin both plan to travel to Beijing next week for another round of negotiations with Chinese Vice Premier Liu He. These reports buffeted stocks on Tuesday.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods over the past year, battering financial markets and souring business and consumer sentiment.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, dipped 0.4 percent.

No economic data are expected on Wednesday, however, on the earnings front, General Mills is set to report its results before the bell and Williams-Sonoma will report after the bell.

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Penny Stocks / Small Caps For Bigger Returns

You’ve most likely heard about penny stocks from advertisements you’ve read on the Internet or from emails you’ve received. If you’ve got some extra money that you’d like to put into the market to generate big returns, you may want to consider small-cap and micro-cap stocks. These stocks can be very risky, though, so you have to know how to trade them well.

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Our September 23 penny stock pick, PLNR finally hit that double it was coming so close to. Falcon's Penny Stock Pick PLNR

Picked on Tuesday, Sept. 23 when it last traded at $4.03, Planar Systems, Inc. shares traded as high as $8.12 today, Friday, December 5. That’s a new 52-week high as well and a potential peak gain of 101% in just over 10 weeks.

Congrats to our readers that decided our PLNR pick was for them and thanks to all those that complimented us on our research report on the stock.

100% Unbiased, Guaranteed. We do not own shares and are never compensated in any way to pick our stocks. We have no vested interest in the stocks we pick… only to make our readers happy.

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