The Dow is up over 550 points middayAll three major indexes are barreling higher at midday, with the Dow Jones Industrial Average (DJI) up nearly 600 points at last check, as investors unpack vaccine news and a slew of positive economic sentiment. Furthermore, both the blue-chip index and the S&P 500 Index (SPX) havebroken above key levels, with the latter reclaiming the round 3,000 level --an are...Read More
AutoZone's fiscal third-quarter results beat estimatesThe shares of AutoZone, Inc. (NYSE:AZO) are up 4.6% at $1,174.70 at last check, after reporting a fiscal third-quarter earnings beat as well as higher-than-expected revenue. After a quarter of extreme ups and downs, sales sped ahead in the last four weeks of the quarter as stimulus checks began to arrive. The company did add, however, that due...Read More
MRK is staring up at stiff resistance on the charts, thoughUnlike many sector peers, Merck & Co., Inc. (NYSE:MRK) has been quiet with its COVID-19 vaccine development plans. That's all changed now, after the blue-chip biotech company announced the acquisition of Themis Bioscience, an Austria-based company to begin development of a potential coronavirus vaccine. As a result, MRK is now up 1% to...Read More
Telsey doubled its price target on Williams-SonomaHome goods retailer Williams-Sonoma, Inc. (NYSE:WSM) just got an upgrade from Telsey this morning to "outperform" from "market perform." The analyst also doubled its price target to $80 from $40. Meanwhile, the company's West Elm unit announced a partnership with REI Co-op for the launch of a co-curated collection of REI x West Elm lifestyle produc...Read More
Stock futures are up on vaccine hopes and economies reopeningDow Jones Industrial Average (DJI) are soaring to kick off the holiday-shortened week, up over 500 points at last check, as investors unwind the optimism surrounding the reopening of the economy and potential for a coronavirus vaccine. Biotech company Novavax (NVAX) is making wavesthis morning, after announcing it had begun clinical tri...Read More
Additionally, short-term traders are becoming increasingly optimistic, evident by the 10-day moving average of our customer-only, equity-only buy (to open) put/call volume ratio, as seen in the chart below. As the market troughed in March, thesemarket participants were at a pessimistic extreme not seen in years. Now, just two months later, this group is showing levels of optimism seen at short-te...Read More
Stephen Roach, senior lecturer at Yale School of Management and former chairman of Morgan Stanley Asia, talks about China's deteriorating relationship with the U.S. because of the coronavirus and China's push to introduce new security laws in Hong Kong. Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, is a senior fellow at Yale University's Jackson Institute...Read More
If there's a crisis will you be able to get any cash out of the bank? Will the banks even have any cash? Because, as of last March, it is no longer a requirement - the banks aren't required to have a single dollar bill. Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the...Read More
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"It's not that gold is gaining in value, it's that fiat currencies are all losing value. Gold is the one stable factor. It's the one thing governments can't create out of thin air. Every currency in the world, except the dollar, are hitting new record lows against gold."Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. made h...Read More
The premiums in the silver market have come in over recent weeks but that still doesn't address the leverage that has been piled onto the market over the past decade and longer. Which has left Andy Schectman of precious metals dealer Miles Franklin saying that he thinks silver is the buying opportunity of a generation.Certainly, with Jerome Powell and the Federal Reserve indicating that even furth...Read More
Given that Federal Reserve chairman Jerome Powell has already hinted at more quantitative easing, it's not surprising that we've seen a continuation of the gold and silver rally. People see what's coming, and they're responding by buying gold and silver. Dave Kranzler spent many years working in various Wall Street jobs. After business school, he primarily traded junk bonds for a large bank. Dave...Read More
A scientific study which found COVID-19 may have been a "cell-culture" uniquely adapted for transmission to humans (more so than any other animal - including bats), is gaining steam.Continue...Read More
"Get the f**k outta here!"A viral video shows at least five people harassing a woman inside a grocery store in Staten Island because she wasn't wearing a mask Continue...Read More
Continue...Nouriel Roubini, a professor at NYU's Stern School of Business and Chairman of Roubini Global Economics, was Senior Economist for International Affairs in the White House's Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US Federal Reserve, and the World Bank.Read More
Read on below to hear Doug's thoughts on the true consequences of this pandemic... and what he considers the only solution that could restore some normalcy.Continue...Read More
On March 23 - the day the S&P dropped to its cycle low of 2,237 - the Fed stunned capital markets when it announced it would purchase investment grade corporate bonds, traversing a Rubicon into secondary Continue...Read More
Virginia reported 1,483 new cases of the novel coronavirus on Monday, the state's highest daily case count since the outbreak started.Continue...Read More
The typical hedge fund holds 71% of its long portfolio in its top 10 positions, up from 60% five years ago and just off the record high of 72% at the start of 2019Continue...Read More
Emerging-market equities are looking more fragile as valuations appear out-of-sync with earnings, especially given the increasingly bleak narrative surrounding virus cases and U.S.-China trade tensions.Continue...Read More