Oil edged higher, despite a trimmed demand forecast from OPECThe Dow closed the book on a roller-coaster week with an emphatic 306-point gain. Rallying bond yields and cooling trade tensions with China fueled the blue-chip index's fourth triple-digit move of the week. The S&P 500 and Nasdaq both finished with strong gains today as well, thanks to resurgent bank and tech sectors, respectively. How...Read More
BofA-Merrill Lynch cut DOW to "underperform"U.S. stocks are higher with bond yields today, though the major indexes are still pacing for a third straight weekly loss. Among stocks making notable moves are chemical concern Dow Inc (NYSE:DOW)and biotechPlus Therapeutics Inc (NASDAQ:PSTV). Here's a quick look at what's moving the shares of DOW and PSTV.Dow Stock Shrugs Off DowngradeAfter earlier touc...Read More
The stock market took a hit as a rare inverted yield curve spooked tradersIt was another volatile week on Wall Street, with the Dow Jones Industrial Average (DJI) exploring a more than 1,000-point trading range. Most of the action occurred to the downside -- creating a profitable environment for SPDR S&P 500 ETF (SPY) straddle traders -- after a rare yield curve inversion of the 2-year and 10-year...Read More
Gold ended lower on Friday, distancing itself from the more-than six-year high it settled at a day earlier, but the metal's investment haven appeal contributed to a third weekly climb in a row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hon...Read More
Gold ended lower on Friday, distancing itself from the more-than six-year high it settled at a day earlier, but the metal's investment haven appeal contributed to a third weekly climb in a row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hon...Read More
Gold has made an incredible move in recent weeks, but it wasn't an easy journey getting to this point for traders and investors.GLD is a good example of how to understand and trade a consolidation market.There is no shortage of fundamental data supporting the gold market.Gold is due for a pause, but higher prices are the likely path in the long term.While many traders seek instant gratificatio...Read More
Goldman Sachs upgraded KTOS to "buy" and hiked its price target to $26Drone maker Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) is eyeing its best day in months following a bull note from Goldman Sachs. The analyst upgraded the stock to "buy" from "hold," and hiked its price target to $26 from $24 -- a roughly 44% premium to last night's close. Goldman said it had confidence in the 2020...Read More
Gold mining stocks are subject to weakening internal momentum.A stronger U.S. dollar is also putting pressure on the mining stocks.Intermediate outlook for gold and gold stocks is still bullish, though.Although the price of gold has stubbornly pushed higher in the face of a strong dollar, gold mining stocks are finally showing signs of weakness after a huge summer rally. Profit taking was clearly...Read More
The "Chinese Netflix" is higher on stimulus hopesIQIYI Inc (NASDAQ:IQ) -- often called the Chinese Netflix -- will report earnings after the close on Monday, Aug. 19. Ahead of the event, J.P. Morgan Securities launched coverage of the stock with an "underweight" rating and $14 price target, representing a record low for IQ shares and an 18% discount to their current price. Nevertheless, IQ stock i...Read More
A short squeeze could also power the shares higherWhen we last checked in on InVitae Corp (NYSE:NVTA), the genetic testing concern was fresh off a lofty bull note from Citron Research. Since nabbing an earnings-induced record high of $28.75 on Aug. 7, the shares have pulled back sharply, down 6.3% month-to-date. However, this Citron favorite -- which has more than doubled in 2019 -- is now flashi...Read More
The Nasdaq is higher too, after NVDA's big earnings win The Dow Jones Industrial Average (DJI) is keeping the positive momentum going at midday, looking to end a wild trading week with a daily win. Anxiety is easing over bond yields, and traders are cheering President Donald Trump's comments that the U.S. and China are "having very productive talks" by phone ahead of an expected September meeting...Read More
NVDA is popping after an earnings beatShares of chipmaker Nvidia Corporation (NASDAQ:NVDA) are soaring this morning, in reaction to the company's impressive second-quarter earnings and revenue beat. Nvidia cited increased demand for high-end video game graphics chips as the main driver, sending NVDA stock up 6.7% to trade at $158.79.Analysts have been quick to respond, with Mizuho and J.P. Morgan...Read More
Baidu will report earnings after the close on MondayU.S.-listed Chinese stocks are higher across the board today, after China's state planner outlined plans to boost disposable income this year and next, in order to spur a stalling economy. At last check, China-based search engine Baidu Inc (NASDAQ:BIDU) was up 0.7% to $95.02, shaking off a price-target cut from J.P. Morgan Securities to $110 fro...Read More
Applied Materials' CEO said the memory chip market is unlikely to recover in 2019Chip concern Applied Materials, Inc. (NASDAQ:AMAT) is sinking this morning, after CEO Gary Dickerson said a recovery in the memory chip market is unlikely before 2020. Dickerson also said that he expects2019 revenue to come in about one-third lower than the previous year. This is overshadowing the chipmaker's fiscal...Read More
The bear note has the shares testing a key trendline todayGoldman Sachs downgraded Hexcel Corporation (NYSE:HXL) to "sell" from "neutral," and cut its price target by $2 to $73 -- a discount to last night's close at $80.49. The analyst in coverage called HXL's valuation "stretched," and warned of a potential deceleration in growth.Goldman's bear note marks the first "sell" rating for the industria...Read More
Housing starts fell for the third straight month in July Dow Jones Industrial Average (DJI) futures are trading well above fair value, as the blue-chip index looks to end a volatile week on a bright note and build on yesterday's positive momentum. Bouncing Treasury yields are easing concerns about a global recession for now, with the 10-year Treasury yield last seen at 1.56%. On the trade front, P...Read More
DDS shares have been getting crushedLooking at this morning's stock market news, two names making notable moves are retailers Dillard's, Inc. (NYSE:DDS) and TJX Companies Inc (NYSE:TJX). Here are the numbers to know for the shares of DDS and TJX today.DDS stock is generating headlines because of the company's earnings release, which is set to spark a massive sell-off. The security is trading down...Read More
There are so many bulls in the metals complex that it is getting quite crowded.Oftentimes, when a market becomes to bullish, we see a pullback to reset sentiment.There is a set up I am tracking, which may suggest another extension can be seen before the metals pull back.I am seriously amazed at how bullish the metals market has become. Everyone and their grandmother are now calling for a rally bac...Read More
* Tin hits fresh three-year low * Aluminium only metal in positive territory * GRAPHIC-2019 asset returns: (Updates with closing prices, adds comment on aluminium)By Eric OnstadLONDON, Aug 16 (Reuters) - Most industrial metals pricesfell on Friday, weighed down by uncertainty over how much weakglobal economic growth is undermining demand, but aluminium roseon potential shortages. "People are...Read More
By Kate Duguid3 Min ReadNEW YORK (Reuters) - The dollar ended roughly flat on Friday, retracing the morning's move higher, after worries tied to trade tensions and a Federal Reserve rate cut weighed on consumer sentiment and a report that Germany may run a deficit to boost growth lifted the euro.Slideshow ( 2 images )Germany's right-left coalition government would be prepared to ditch its balanced...Read More