August is typically an excellent month for NVDANvidia Corporation (NASDAQ:NVDA) is trying to break out, recently taking out its 200-day moving average and now could be set to test the $180-$190 region that's home to the shares' April highs and a bear gap from last November. Just going by seasonal data, it may be wise to think NVDA stock could keep pushing higher in the short term. For instance, th...Read More
U.S.-China trade talks are set to resume tomorrowThe Dow Jones Industrial Average (DJI) is modestly higher at midday, as Wall Street gears up for Wednesday's Fed decision and another week of corporate earnings. While the blue-chip index clings to gains, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly in the red, pulling back from Friday's record highs as tech stocks take a hit. A...Read More
Evercore ISI upgraded NXP Semiconductors to "outperform" from "in line"Dutch tech name NXP Semiconductors N.V. (NASDAQ:NXPI) is getting a boost today, after Evercore ISI upgraded the stock to "outperform" from "in line," and raised its price target to $125 from $110. Evercore's bull note touched on the firm's second-quarter earnings, which are slated for release after the close tonight, with the...Read More
The September 30 call has seen a notable increase in open interestAthletic apparel retailer Under Armour Inc (NYSE:UAA) is trading slightly lower today at $27.12, as options traders gear up for the company's upcoming second-quarter earnings report. Set to debut before the open tomorrow, Tuesday, July 30, the report comes on the heels of UAA's recent multi-month climb up the charts. The retail stoc...Read More
EA stock is lower today on a fresh bear noteElectronic Arts Inc. (NASDAQ:EA) breached its 200-day moving average earlier this month, as concerns over the video game maker's "Apex Legends" update sent the shares spiraling 4.6%. EA stock has only extended this slide -- down 2% today at $87.76, after a price-target cut to $96 from $102 at MKM Partners -- and the options market is bracing for even mor...Read More
DISH stock hit an annual high just last weekLast week, the Department of Justice (DoJ) gave its blessing to the Sprint (S)/T-Mobile (TMUS) merger after DISH Network Corp (NASDAQ:DISH) agreed to buy Sprint's prepaid wireless business and some of the telecom's wireless spectrum. However, Barclays doesn't think the deal will create "major upside" for DISH stakeholders, and downgraded the stock to "un...Read More
Kindred Biosciences will report earnings later this weekVeterinary stock Kindred Biosciences Inc (NASDAQ:KIN) is higher today, after the company announced positive results from a pilot study of KIND-016, used to treat atopic dermatitis in dogs. The equity is eyeing its fourth straight win today, up 8.5% at $7.29, and earnings are just around the corner. The stock's surge comes just days after hit...Read More
BUD stock could hit a new high in today's tradingThe shares of Anheuser-Busch Inbev NV (NYSE:BUD) are up 1.4% in electronic trading, set to open a chip-shot away from Thursday's earnings-induced annual high of $102.70. BofA-Merrill Lynch upgraded the brewer to "buy" from "neutral," with the analyst in coverage praising the company's macro environment and reasonable valuation. Today's positive p...Read More
GILD is clinging to a 6% year-to-date leadShares of drugmaker Gilead Sciences, Inc. (NASDAQ:GILD) are up 1.5% in pre-market trading, after the stock received an upgrade to "top pick" from "outperform" out of RBC. The brokerage firm cited new leadership as one reason for its bullish view on GILD stock. Overall, analysts have been extremely optimistic toward the security, with 14 of 19 covering fir...Read More
Investors expect a Fed rate cut on WednesdayWith the Fed meeting right around the corner, Dow Jones Industrial Average (DJI) futures are hovering cautiously atop breakeven. Wall Street is expecting the Fed to cut its benchmark lending rate by 25 basis points this Wednesday, despite recent economic growth and positive unemployment data.However, blue chip Pfizer (PFE) is keeping the Dow's early gain...Read More
This marks the first "sell" rating for PYPL stockPayPal Holdings Inc (NASDAQ:PYPL) shares have gained over 37% in 2019 and hit an all-time high of $121.48 last week before a disappointing earnings update sparked a small bear gap for the payments stock. More specifically, the company issued a downbeat sales outlook for the rest of the year, which is one reason Guggenheim just came in and downgraded...Read More
Look for S&P price action to be "Fed dependent" in the immediate wake of the July 31 policy decision"Do not be surprised if round numbers like SPX 3,000 and Dow Jones 27,000 act as barriers in the short term. For what it's worth, SPX 3,008 is around 20% above the 2018 close, and could act in concert with SPX 3,000 as resistance. There was evidence of this resistance on Wednesday and Thursday, as t...Read More
Should investors panic over IWM underperformance?The following is a reprint of the market commentary from the August 2019 edition of The Option Advisor, published on July 26. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.If you've been following the stock market's rebound rally from its early June lows, then it's...Read More
* GRAPHIC-2019 asset returns:* Cash zinc at premium over three-month contract* Focus on U.S. Federal Reserve meeting (Adds closing prices, comment)By Pratima DesaiLONDON, July 29 (Reuters) - Copper prices rose on Mondaybefore planned U.S.-China trade talks and a flood of economicdata, while shrinking profits at Chinese industrial firmshighlighted the headwinds facing demand in the top consumingcou...Read More
Dollar strength is keeping gold stuck in its lateral trading range.Yet, gold's currency component is no longer a seriously limiting factor.Gold's multi-year high suggests the establishment of a new bull market.After a failed breakout attempt, the gold price has fallen back into the holding pattern which was established last month. While it may be frustrating for some investors that gold re...Read More
- Clint SiegnerFirst, a bank's commodities trading department takes metals investors for a ride like unwitting victims in the back of Jeffrey Epstein's "Lolita Express."Now federal prosecutors have extended the same sort of cozy non-prosecution agreement to shield the bank itself from a criminal indictment.Federal prosecutors signed a non-prosecution agreement in June with Merrill Lynch Comm...Read More
StrengthsThe best performing metal this week was platinum, up 2.24 percent on hedge funds cutting short positions and flipped the futures composite to a net long. Gold traders and analysts in the weekly Bloomberg survey are split between a bullish and a neutral outlook on the yellow metal ahead of the Fed's meeting next week. Gold gained on Thursday after the European Central Bank (ECB) signaled...Read More
Keith Weiner, Monetary MetalsWe have spilled many electrons on the topic of capital consumption. Still, this is a very abstract topic and we think many people still struggle to picture what it means. Thus, the inspiration for this week's essay.Enterprise Car ServiceSuppose a young man, Early Enterprise, inherits a car from his grandfather. Early decides to drive for Uber to earn a living. Being...Read More
By: Gary Savagehttp://blog.smartmoneytrackerpremium.com/Read More
Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Luf...Read More