The broader stock market is soaring today, tooThe S&P 500 Index (SPX) is fresh off a record intraday peak, fueled by a big day for luxury retailer Tiffany (TIF). Among other names making notable moves are Dow stock Microsoft Corporation (NASDAQ:MSFT), streaming issue Roku Inc (NASDAQ:ROKU), and child care provider Care.com Inc (NYSE:CRCM). Here's a quick roundup of what's moving the shares of MSFT...Read More
The Nasdaq is also comfortably higherThe Dow Jones Industrial Average (DJI) is kicking off the week with big gains -- up triple digits at midday -- but is ceding the spotlight to the S&P 500 Index (SPX), which just nabbed a new all-time high of 3,044.08 and is cruising toward its fourth straight win. The Nasdaq Composite (IXIC) is is nearing its own record highs and four-day winning streak, as...Read More
Workers signed a contract outlining a mix of one-time bonuses and three U.S. plant closuresThe General Motors Company (NYSE:GM) strike has come to a close, with workers agreeing to sign a new four-year labor contract, which awards union members part of the 40-day strike a combination of one-time bonuses, and outlines the closure of three U.S. plants. While the strike may be over, the United Auto W...Read More
Analysts love RingCentral stockRingCentral Inc (NYSE:RNG) shares recently bounced from the $150 area, near the site of their huge bull gap earlier this month, and today they're trading up 0.5% at $161.41, thanks to a bullish note out of brokerage firm Jefferies. The analyst in coverage says they see a path where the company's annual revenue can top $2 billion, keeping their "buy" recommendation in...Read More
The Paris retailer made a $14.5 billion unsolicited bid for TiffanyTiffany & Co. (NYSE:TIF) stock is red-hot this morning, after Paris-based LVMH made a $14.5 billion buyout bid for the U.S. jeweler. The Louis Vuitton owner's unsolicited offer equates to roughly $120 per TIF share -- a 21.7% premium to last Friday's close at $98.55 per share -- and has the retail stock up 32.4% out of the gate to...Read More
SPOT is on track for its biggest one-day jump everThe shares of Spotify Technology SA (NYSE:SPOT) are up 10% to trade at $132.90 this morning, on track for the best single-session gain ever. The media streaming name reported adjusted third-quarter earnings of 40 cents per share, blowing past the analyst estimates of a 31 cents per share loss. Revenue and premium subscribers also surpassed expect...Read More
CFO Louis Hsieh resigned from the company for personal reasonsThe shares of electric carmaker Nio Inc (NYSE:NIO) are sinking even further into penny-stock territory, amid newsthe firm's chief financial officer (CFO), Louis T. Hsieh, will be resigning from his post for personal reasons. A search for a replacement has been initiated, with Hsieh's resignation taking effect on Wednesday, Oct. 30. The...Read More
YUMC looks to be in recovery mode after a recent fall off its September highsGlobal fast food name Yum China Holdings Inc (NYSE:YUMC) is up 2.3% at $44.58 this morning, after brokerage firm Jefferies initiated coverage with a "buy" rating and $54.60 price target. The target isa 25% premium to Friday's close of $43.57, and top the equity's Sept. 13 annual high of $48.36. The bull note also comes j...Read More
Earnings have been strong this morningU.S. stock futures are trading above fair value this morning, putting the S&P 500 Index (SPX) on pace to hit a record high. Dow Jones Industrial Average (DJI) futures are comfortably in the black, as well, pointing to a roughly 100-point rise at the open, thanks to a strong earnings reaction for blue chip Walgreens Boots Alliance (WBA). Lingering optimism...Read More
The sentiment backdrop still favors a breakout, even with Fed uncertainty in the mix"Even though the SPX failed at resistance levels last week, I still see growing potential for a breakout. First, the headwind of an options-related call ceiling disappeared last Friday with October options expiration. Additionally, looking ahead to November standard expiration, it appears the major SPY call open in...Read More
We've previously discussed why one might want to own gold, but another question involves timing one's entry into that volatile market.To that tricky question, Seeking Alpha contributor Ploutos proposes an intriguing approach based on calculating "gold yield.".I find the approach elegant and relevant, and look forward to seeing how this method stands the test of time.Listen on the go! Subscribe to...Read More
What a rare AAPL outperformance signal means for the DowThe following is a reprint of the market commentary from the November 2019 edition of The Option Advisor, published on October 25. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.There's been something of a "changing of the guard" going on this quarter among th...Read More
GAMCO Global Gold, Natural Resources & Income Trust is a closed-end fund that's designed to generate income by applying a buy-write strategy to more volatile sectors.Gold and gold stocks are rising despite the strong dollar. Oil prices and energy stock performance is lagging.The volatility of gold and energy stocks remains high and this will positively impact GGN's premium income and divid...Read More
David HaggithIt's no longer just me using terms like "Armageddon, crisis, devastating, chaos, Great Depression;" it's leaders of the world's most august and conservative central banks!The big banking squeeze that began in September never went away. In fact, repo auctions last week looked worse than ever, in spite of the Fed's launching of QE4ever. With a new $60 billion a month in permanent re-...Read More
By: Ira EpsteinGold's pullback on the long-term chart is normal, gold market is running higher on the monthly..Read More
Hong Kong and the NBAChina's Vision of VictoryClashing ValuesHouston, Philadelphia, and DallasAnd once you see it, you cannot unsee it.I'm not alone. Here is what we are observing at macro scale:That it has been common knowledge something we all knew that we all knew since the Nixon years that by simply exporting capitalism and free enterprise, we would unshackle the forces of freedom in China....Read More
David HaggithIt's no longer just me using terms like "Armageddon, crisis, devastating, chaos, Great Depression;" it's leaders of the world's most august and conservative central banks!The big banking squeeze that began in September never went away. In fact, repo auctions last week looked worse than ever, in spite of the Fed's launching of QE4ever. With a new $60 billion a month in permanent re-...Read More
By: Ira EpsteinGold's pullback on the long-term chart is normal, gold market is running higher on the monthly..Read More
Hong Kong and the NBAChina's Vision of VictoryClashing ValuesHouston, Philadelphia, and DallasAnd once you see it, you cannot unsee it.I'm not alone. Here is what we are observing at macro scale:That it has been common knowledge something we all knew that we all knew since the Nixon years that by simply exporting capitalism and free enterprise, we would unshackle the forces of freedom in China....Read More
StrengthsThe best performing metal this week was platinum, up 3.96 percent. Gold is back with a weekly gain and its best week in five, trading above $1,500 an ounce on hopes that the Fed will cut borrowing costs next week. The yellow metal also benefitted from haven demand due to geopolitical turmoil from Chile to Lebanon, plus volatility surrounding Brexit negotiations. Holdings in gold-backe...Read More