The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks are down sharply today, including all of the Magnificent 7 stocks. The first two Big Tech companies, Tesla and Alphabet, missed on earnings and that is shaking confidence across the board. The Nasdaq is faring the worst, down 2.5% at midday. Other Big Tech earnings are scattered with some coming next week. Chipotle and IBM report after-the-bell today.

The yield curve has been inverted for months now. But what has changed over the past year is that the inversion isn't so steep. Back in April 2023, 2-year Treasury Note yields were about 100 basis points above 10-year yields. Now the gap is 35 basis points. There are a couple of reasons for this change, and in our view they point toward an upcoming shift to a normal upward-sloping curve in the next few quarters. First, U.S. economic trends have been positive. Fixed-income investors have moved away from fears of deflation and are now again seeking a premium in yields versus inflation. That has lifted rates across the yield curve. Second, the Federal Reserve finally is in front of the inflation curve. The central bank is now building a cushion, or a gap, between fed funds and core PCE in order to push inflation back toward 2.0%. This is all well and good -- but if the Fed's gap is too wide for too long, the central bank risks tipping the economy into a recession (which is allegedly what the inverted yield curve is signaling). Fed Chairman Jerome Powell has explained to financial markets that he and his colleagues want to continue fighting stubborn inflation, so they are likely to keep short-term rates high for a period of time, which is where the markets are now. But the day will come when the data shows that the central bank has brought inflationary pressures to bay, and it will then start to lower rates in order to keep the economy growing. We think that first rate cut will be in September, with a second cut after the U.S. presidential election. Assuming those lower rates keep the economy in a growth gear, longer-term rates should remain stable and the yield curve should once again slope upward.

The yield curve has been inverted for months now. But what has changed over the past year is that the inversion isn't so steep. Back in April 2023, 2-year Treasury Note yields were about 100 basis points above 10-year yields. Now the gap is 35 basis points. There are a couple of reasons for this change, and in our view they point toward an upcoming shift to a normal upward-sloping curve in the next few quarters. First, U.S. economic trends have been positive. Fixed-income investors have moved away from fears of deflation and are now again seeking a premium in yields versus inflation. That has lifted rates across the yield curve. Second, the Federal Reserve finally is in front of the inflation curve. The central bank is now building a cushion, or a gap, between fed funds and core PCE in order to push inflation back toward 2.0%. This is all well and good -- but if the Fed's gap is too wide for too long, the central bank risks tipping the economy into a recession (which is allegedly what the inverted yield curve is signaling). Fed Chairman Jerome Powell has explained to financial markets that he and his colleagues want to continue fighting stubborn inflation, so they are likely to keep short-term rates high for a period of time, which is where the markets are now. But the day will come when the data shows that the central bank has brought inflationary pressures to bay, and it will then start to lower rates in order to keep the economy growing. We think that first rate hike will be in September, with a second cut after the U.S. presidential election. Assuming those lower rates keep the economy in a growth gear, longer-term rates should remain stable and the yield curve should once again slope upward.

In this edition, rental equipment companies haven't dug moats yet; homeowners are repairing remodel spending numbers; GE Vernova might power through the gap between position and performance; and Santos, Crown Castle, and Melrose Industries.

U.S. stocks finished mostly lower on Thursday. On the housing front, sales of existing homes declined 4.3% in March to a seasonally adjusted annual rate of 4.19 million, just ahead of estimates of 4.17 million. The median home sales price was $393,000, which is 4.8% higher than a year ago and marks the ninth consecutive month of year-on-year increases. The average 30-year mortgage rate rose above 7%. The Conference Board's Leading Economic Index slipped 0.3%, which was below expectations of a 0.1% decline and follows a 0.2% advance in February. Negative factors for the index were a weaker consumer outlook on business conditions, and a decrease in new orders and building permits -- which more than offset positive contributions from gains in equities and credit conditions. The S&P 500 fell about 0.2%, the Dow closed just above the flat line and the Nasdaq dropped 0.5%

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for the past decade-plus, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks that year. While growth stocks have retaken the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could possibly cap multiple expansion for growth companies in coming quarters. In any event, the value sector is the place to achieve income.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for the past decade-plus, the performance record has favored growth. Since 2010, the Russell 1000 Growth Index has climbed more than 575%, compared to an advance of almost 200% for the Russell 1000 Value Index. In 10 of the past 13 years, growth stocks have topped value stocks. That hasn't always been the case. In the 2000-2010 decade, including the Great Recession, value stocks were better performers than growth stocks, advancing an admittedly low 8%, but still better than growth, which declined 15% during the decade. Value investors trace their roots to the famous "Security Analysis" textbook, written by Ben Graham, an economics professor at Columbia University. Warren Buffett was one of his students. Why the recent deviation in performance? Several reasons, including changes in the make-up of the economy, growth in intangible assets, and the current low level of interest rates. But the tide turned back in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent quarters. While growth stocks have retaken the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could cap multiple expansion for growth companies in coming quarters. Regardless, the value sector is the place to achieve income. Our High-Yield theme model portfolio is designed to take advantage of these conditions.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for more than a decade, the performance record favored growth. Since 2010, the Russell 1000 Growth Index has climbed more than 575%, compared to an advance of almost 200% for the Russell 1000 Value Index. In 10 of the past 13 years, growth stocks have topped value stocks. That hasn't always been the case. In the 2000-2010 decade, including the Great Recession, value stocks were better performers than growth stocks, advancing an admittedly low 8% (but still better than growth, which declined 15% during the decade). Value investors trace their roots to the famous "Security Analysis" textbook, written by Ben Graham, an economics professor at Columbia University. Warren Buffett was one of his students. Why the recent deviation in performance? Several reasons, including changes in the make-up of the economy, growth in intangible assets, and the current level of interest rates. But the tide turned back in 2022, at least for a while, as the rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent years. While growth stocks have recaptured the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could possibly cap multiple expansion for growth companies in coming quarters. In any event, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.0%, compared to the 0.7% current yield on the iShares Russell 1000 Growth Index ETF. For our list this week, we have screened our coverage universe for stocks that are BUY-rated by Argus Research analysts, have an Argus Financial Strength Rating of at least Medium, and have a yield of 3.0% or higher. Here's a baker's dozen that meet the criteria. These stocks are also featured in our High-Yield theme model portfolio.

In this edition, we think utilities have good buzz; there are bargains in Asia if you shop carefully; Big Pharma is building some immunity to patent losses; and PayPal, Crown Castle, and Domino's Pizza.

Monday Tee Up: A Big Week

In this edition, we think utilities have good buzz; there are bargains in Asia if you shop carefully; Big Pharma is building some immunity to patent losses; and Paypal, Crown Castle, and Domino's Pizza.

The Argus Research Fundamental Universe of Coverage includes approximately 500 leading U.S. and international companies. We cover the waterfront -- from Technology to Utilities from Energy to Healthcare. Generally, we follow the top 200 most widely held stocks, a list we source from our sister company Vickers Stock Research, which collects institutional ownership data from the U.S. Securities and Exchange Commission. From there, we look to identify the next 200-300 emerging U.S. and international companies to add to our list. Our Universe of Coverage is dynamic and growing. We are continually adding stocks to coverage and often get great ideas from our clients. Here are some of our most recent additions.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks edged higher on Tuesday morning amid an upturn in consumer confidence and reports of strong Cyber Monday sales. Investors also looked ahead to new GDP and inflation data later in the week. The Conference Board said that its consumer confidence index rose to 102.0 in November, up from 99.1 in October and above the Reuters consensus forecast of 101.0. The reading was the first increase after three straight monthly declines. Adobe Analytics reported that consumers spent $12.4 billion online on Cyber Monday, up 9.6% from the prior year. The Dow rose 0.4%, the S&P 0.2%, and the Nasdaq 0.3%. Crude oil rose to $77 per barrel, while gold jumped $24 to trade near $2036 per ounce.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

In this edition, can regulators stop utilities' fall?; more mobile data means more towers; Hayward swimming well; and Splunk, Yum China, and Keurig Dr Pepper.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

With July 2023 now in the books, the S&P 500, Nasdaq, and Nasdaq 100 have all risen for five consecutive months, tacking on 16%, 25%, and 31%, respectively. For the month, the '500' rose 3%, the Nasdaq, Nasdaq 100 and S&P MidCap 400 all gained 4%, and the Russell 2000 popped 6%.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.