At 1 p.m. EDT on Wednesday, Aug. 10, Senior Strategist Roger Scott is going live to reveal his No. 1 Frontrunner Stock for the rest of 2022…
Not only that, but he’ll also discuss the core factors behind what he calls “Frontrunner Stocks,” how to build your own custom ETF, portfolio management and more.
He’ll even go into great detail on the formula used to backtest the Frontrunner Portfolio, and share the results!
We had another amazing macro discussion on this week’s edition of The Big Picture With Jeff & Roger about where things stand right now on Wall Street, particularly in regard to inflation, oil and the S&P 500 sectors…
But what about leading chipmaker Nvidia, the latest big company to lower guidance?
This is a bad, bad thing, especially on the heels of the massive chip bill that just got through Congress. These guys are getting free money from the government, and the sector still can’t catch a bid as a whole…
Shares of Nvidia promptly dropped from $190 heading into the weekend down to $168 by Tuesday afternoon, and it’s concerning.
The reality is consumer spending is slowing down and lagging…
The S&P 500 and Nasdaq slipped Tuesday morning as chipmakers lowered future guidance — and more in Tuesday’s stock market recap.
Nvidia kicked off the week by releasing preliminary earnings that revealed second-quarter revenue of $6.7 billion versus its initial outlook of $8.1 billion, citing weaker-than-expected gaming revenue.
The news was followed by an announcement from Micron on Tuesday warning that revenue for the current quarter may fall near the low end of its forecast, or even lower.
The S&P 500 and Nasdaq slid 0.3% and 0.7%, respectively, while the iShares Semiconductor ETF fell 1.5% in premarket trading Tuesday, following its 1.5% fall on Monday.
Correlation is a statistical concept that, in simple terms, describes the relationship between two or more variables. The relationship is positive when the two variables move in the same direction (both up or both down), and is negative when they move in opposite directions (one up, the other down). An example of “perfect positive” correlation would be: Stock A moves up by 7%, and Stock B also moves up by 7% (direction and magnitude same). An example of “positive” correlation would be: Stock A moves up by 7%, and Stock B moves up by 5.5% (same direction but magnitude varies).
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