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.

Stocks closed mixed on Thursday. The Dow edged higher, while the S&P 500 and the Nasdaq fell following a better-than-expected GDP report. Ahead of the Friday's June reading of the PCE and the Michigan sentiment survey, stocks are volatile and likely to end the week with losses.

In this edition, diving into mining in China; initiating coverage of Amer Sports; watching the waves in the cruise line industry; and Ericsson, Estee Lauder Companies, and GE HealthCare.

In this edition, diving into mining in China; initiating coverage of Amer Sports; watching the waves in the cruise line industry; and Ericsson, Estee Lauder Companies, and GE HealthCare.

Small-caps are winning the day with the Russell 2000 up 1%. Other indices are in green as well. Both the economic and earnings calendars are full this week. Fed Chairman Powell will give his semiannual testimony on Capitol Hill. Tomorrow, he goes before the Senate and on Wednesday, he visits the House. On Thursday, Wall Street will take in fresh inflation data in the June Consumer Price Index (CPI). On Friday, more inflation data is due from the wholesale side via the Producer Price Index (PPI). On the earnings front, the new reporting season kicks off on Thursday with reports from Delta Air Lines, PepsiCo, and Conagra Brands. On Friday, the major banks start to check in. This list includes: Citigroup, JPMorgan Chase, Bank of New York, and Wells Fargo. It's a busy week.

Both the Nasdaq and the S&P 500 reached record highs on mixed economic news. Although producer prices fell in May, jobless claims rose. The Nasdaq closed up 0.3% and the S&P 500 rose 0.2%. The Dow was down 0.2% and the Russell 2000 fell 0.9%. In other news, Tesla shares rose following shareholder approval for Musk's $56 billion pay package. Treasury yields fell, and crude oil and gold were both down slightly.

May 28 was a tough start to the last four days of May, especially for the broader market. Yes, NVDA hit another all-time high (ATH), finishing 7% higher and up 20% in just three days following the company's quarterly report. Since gapping to an ATH on May 15, the S&P 500 has stalled for the past eight days, while the Nasdaq and the Nasdaq 100 have crawled a bit higher. The real weakness on Tuesday was in the Dow Industrials, the NYSE, and the S&P MidCap 400 -- which all gave back 0.6%.

Management's ability to "raise guidance" can often be a catalyst for market-beating returns in the quarters ahead. The first-quarter earnings season has crossed the 90% mark and is wrapping up, with blended earnings (actual results and the consensus for those still to report) showing a year-over-year gain of almost 7%, according to Refinitiv. That is considerably better than the 4%-7% advance expected at the start of the earnings period. Leading the outperformance were strong gains in Communication Services earnings, up 43%, and Consumer Discretionary, up 26%. On the flipside, Healthcare and Energy, both down 24%, are performing the worst. Our analysts are always on the lookout for companies that boost outlooks during earnings season, as this is often a signal for momentum in the months ahead. Here is an initial list of BUY-rated companies in the Argus Fundamental Universe of Coverage at which management raised guidance or increased its outlook during the 1Q24 EPS reporting season.

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.

U.S. stocks sold off on Thursday morning following economic data that led investors to believe that the first interest rate cut will likely be in September. However, stocks recovered some of their losses by market close, while bond yields rose. On the housing front, pending home sales grew 3.4% in March according to the National Association of Realtors, ahead of estimates for sales to remain flat sequentially. The Dow was down 1.0%, the S&P 500 fell 0.5% and the Nasdaq lost 0.6%. Crude oil is trading above $83 per barrel and gold is up $1 to $2343 per ounce.

U.S. stocks bounced back after Wednesday's decline. However, regional banks are down following New York Community Bancorp's dismal results. Initial jobless claims for the week ending January 27 were 224,000, up 9,000 from the previous week's revised level. Ongoing unemployment was 1,898,000, an increase of 70,000 from the previous weeks revised 1,833,000. The Dow rose 0.1%, the S&P 500 was up 0.3% and the Nasdaq gained 0.4%. Crude oil traded above $76 per barrel, while gold rose $7.50 to trade near $2075 per ounce.

In 2023, the S&P 500 climbed almost 24%, skewed heavily by a handful of tech and consumer stocks that recovered from the pandemic. The top-10 stocks in the Argus Universe advanced, on average, 180%, while the top-20 rose 140%. The average stock rose 17%, and the median stock advanced 7%. The average BUY-rated stock increased 20%, while the average HOLD-rated stock gained 8%. Will investors continue to favor growth in 2024? Will small-caps reverse their recent thrust as the risk of recession puts a premium on clean balance sheets? Investors seeking value are encouraged to focus on dividends and yields in the 3%-4% range. As for small-caps and international stocks, valuations remain depressed -- and these group looks to offer value into 2024 as market breadth likely widens. Below are the top-10 performers from the Argus Universe last year, with representatives in six of the 11 major sectors, as well as the bottom-five performers.

Dear Reader,

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Equinix Inc (EQIX); Expedia Group Inc (EXPE); American Intl Grp In (AIG); Netflix Inc (NFLX) and the Focus List deletions are Arthur J. Gallagher & Co. (AJG); Comcast Corp (CMCSA); ProLogis (PLD); Royal Caribbean Group (RCL).

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.

Management's ability to "raise guidance" can often be a catalyst for market-beating returns in the quarters ahead. The third-quarter earnings season is wrapping up, with blended earnings (actual results and the consensus for those still to report) showing a 6.3% gain, year-over-year, according to Refinitiv. That is considerably better than the 1.0% expected at the start of the earnings period, and should be enough to end the "earnings recession" that investors have endured over the past three quarters. Propelling the 3Q outperformance were strong gains in Communication Services, up 46%, while Energy again (like last quarter) is performing the worst, down 33%. Our analysts are always on the lookout for companies that boost their outlooks during earnings season. Here is an initial list of BUY-rated companies in Argus Coverage at which management raised guidance or increased its outlook during the 3Q23 EPS reporting season.

Stocks fell again on Thursday morning, extending Wednesday's selloff, as investors weighed a wide range of earnings reports, a tentative labor agreement between Ford and the UAW, and stronger-than-expected GDP data. The Commerce Department, in its advance estimate, said that the U.S. economy expanded at a 4.9% annualized rate in 3Q, up from a revised 2.1% in the second quarter and above the Reuters consensus forecast of 4.3% growth. Meanwhile, first-time claims for state unemployment benefits rose by 10,000 to a seasonally adjusted 210,000 for the week ended October 21. In Europe, the ECB held its benchmark interest rate steady at 4.0%, reflecting progress in combating inflation after more than a year of rate hikes. The Dow fell 0.4%, the S&P 0.7%, and the Nasdaq 1.3%. Crude oil fell more than 2% to $83.50 per barrel, while gold traded near $1988 per ounce.

Stocks edged lower on Tuesday morning on more disappointing data in China. The Caixin China Services PMI was 51.8 in August, reflecting the smallest rate of growth in eight months. New orders growth slowed and exports fell, while employment rose. The U.S. Treasury yields rose. The S&P 500 fell 0.2%, the Dow 0.2% and the Nasdaq was down less than 0.1%. Crude oil traded near $87 per barrel and gold fell $15 to $1952.

Stocks edged higher on Monday morning as investors awaited earnings from Apple and Amazon, and the July employment report later this week. With about half of S&P 500 companies having reported, FactSet said that 2Q23 earnings were down 7.3% from the prior year, the sharpest decline since 2Q20. However, some 80% of reporting companies have beaten expectations, above the five-year average of 78%. The Dow rose 0.2%, the S&P 0.1%, and the Nasdaq 0.3%. Crude oil rose nearly 1% to $81 per barrel while gold traded near $2006 per ounce.

Stocks started a new bull market in 2Q23, as the S&P 500 climbed 20% above bear-market lows from last October. For the quarter, the index climbed about 8%. Performance was narrow in 2Q, led by last year's laggard sectors, including Communication Services, Consumer Discretionary, and Technology. Last year's top-performing sector, Energy, and the Utility sector, were the worst performers in 2Q23. The average stock in the diversified Argus Universe of Coverage rose 4% in the quarter, and the median stock advanced 2%. The average Argus BUY-rated stock rose 5.7%, while the average HOLD-rated stock gained 1.2%. We recently raised our sector rating on Consumer Discretionary to Over-Weight, as the employment environment is strong. We also look for a pick-up in EPS growth in Communication Services and Technology, and expect these groups to pace broad market performance. Below are the top 10 performers from the Argus Universe in 2Q23, many from Technology and Communication Services. After that, we list the bottom five performers.

The Consumer Price Index report was released yesterday and showed that top-level inflation pressures in the U.S. eased again last month, continuing a downward trend that began last summer. Core prices ticked lower as well. The CPI numbers generally were in line with consensus expectations and Argus forecasts. The Bureau of Labor Statistics reported a 4.0% increase in overall inflation year-over-year through May, compared to a 4.9% rate through April and a 9.1% rate back in June 2022. The core rate, excluding the impact of food and energy prices, fell as well -- to 5.3% in May versus 5.5% in the prior month. Segments of the economy with stable/easing year-over-year prices included gasoline (-19.7%), used cars and trucks (-4.2%), and medical care services (-0.1%). The overall rate was propped up by transportation services (10.2%), shelter (8.0%) and food (6.7%), which tend to have prices that are less likely to fall sharply. Looking ahead, we continue to think that the June 2022 CPI rate of 9.1% will prove to be the peak reading for the index this cycle, as the housing market cools, supplies of new vehicles are replenished, and the price of oil stays below $90 per barrel. The Federal Reserve has lifted the feds fund rate from 0.0% to above 5.0% over the past 15 months, and the rate hikes appear to be reducing inflationary pressures. The next question is whether the rapid rate increase will tip the economy into a recession as inflation continues to head toward 2.0%.

Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus Research.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Salesforce Inc (CRM); Royal Caribbean Group (RCL); Canadian Pac Kansas City Ltd (CP); Intuitive Surgical Inc (ISRG) and the Focus List deletions are Honeywell International Inc (HON); Danaher Corp. (DHR); Skechers U S A, Inc. (SKX); Palo Alto Networks Inc (PANW).

We recently discussed how NVDA had supercharged semiconductor indices, the QQQs, and the overall market. Generally, investors are greeting AI mania with enthusiasm. But those with enough years in the market remember being burned by other manias, such as the 'dot.com' implosion of 2000.

One week does not make a trend. Two weeks may suggest a trend. Three weeks start to make the case that a trend is in place. But in looking at the insider-sentiment data this week from Vickers Stock Research (which is bullish for a third week), we don't think trend analysis is needed. We think the absolute data says it all.

Stocks fell on Wednesday morning, a day after rallying following a speech from Fed Chair Jerome Powell. Mr. Powell said that the economy was in the 'very early stages of disinflation,' and that the process would take time, largely echoing his comments after the Fed's rate hike last week. On the earnings front, Uber shares rose after the ride-hailing service posted much better-than-expected fourth-quarter results. Yum! Brands also rose following strong 4Q sales and earnings. The Dow fell 0.6%, the S&P 1.0%, and the Nasdaq 1.5%. Crude oil rose 1% to $78 per barrel, while gold traded near $1888 per ounce.

The stock market is maintaining strength that started in the trading session on Friday, November 4 -- and with a little luck, stocks have some room to run. Indeed, the SPX rose almost 1% on Monday, while the Dow (which had been leading of late) tacked on 1.3% and popped back above its declining 200-day (as it did in August for a couple of days). Elsewhere, the Nasdaq gained 0.9% and the QQQs added 1.1%. Treasury yields across the curve rose and are back near recent highs, but the U.S. Dollar Index fell. Since late September, the dollar is working on two lower highs and is close to a second lower low. On Tuesday, stocks moved higher still.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Recent one-week insider-sentiment readings from Vickers Stock Research have been toggling between very positive and neutral. As a result, Vickers' eight-week sell/buy ratios have started to retreat a bit from the exceedingly bullish levels of a few weeks ago. Still, current readings remain well below the 2.00 line that starts the bullish territory for these sentiment gauges. Vickers' current NYSE Eight-Week Sell/Buy Ratio is 1.60, the Nasdaq is 1.87, and the Total, which accounts for activity across all of the exchanges, is 1.74. Those are good sentiment readings under any conditions.

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 have struggled in 2022, but corporate insiders have reacted with increasing optimism in recent weeks as stocks have plumbed new lows. Indeed, given the strength of current insider-sentiment readings from Vickers Stock Research, it seems clear that insiders are viewing the current dip as an opportunity.

The volume of insider transactions has been lower than normal over the past month, impacted first by trading restrictions during earnings season and then by Russia's invasion of Ukraine. But trading activity picked up over the last week -- and a review of data from Vickers Stock Research suggests a cautious stance from executives, directors, and beneficial owners. Over 1900 transactions from last week met the criteria for inclusion in Vickers' Weekly Insider Report, up from less than 1,200 in the prior week and a weekly average of about 1,300 over the past year.

Stocks were mixed on Thursday morning, a day after the Federal Reserve announced the start of its $15 billion per month tapering program. Fed Chair Jerome Powell also indicated that the Fed would prefer to wait for the completion of the tapering plan, and further improvement in the labor market, before considering higher interest rates. The Dow fell 0.2%, the S&P rose 0.3%, and the Nasdaq rose 0.6%. Crude oil rose slightly to $81 per barrel, while gold traded near $1796 per ounce.