By: Ira EpsteinGold remains in this congestion zone. Will it breakout? Fighting a battle..Read More
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week. Economic growth news will be the key. Measures (other than interest rate or different forms of quan...Read More
The S&P and Nasdaq closed higher despite a down day for NetflixThe Dow explored a 198-point range on both sides of breakeven today, with the blue-chip index ultimately avoiding a third straight loss thanks to a post-earnings pop for IBM (IBM). Gains for the Dow were modest, though, as a disappointing revenue forecast pressured UnitedHealth (UNH) stock. The S&P and Nasdaq managed to muscle to a win...Read More
Gold futures notched a fresh six-year high on Thursday, then extended their gains into the electronic trading session on the back of dovish comments from a Federal Reserve official, worsening tensions in the Middle East and a drop in the dollar. "News of the U.S. Navy shooting down an Iranian drone always adds fuel to the market, but the underlying buying momentum after a break of the $1,425 area...Read More
One speculator wrote calls to bring the cost of a Dillard's put position down to $1.17MDepartment store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. The moving average has capped multiple breakout attempts over the past year for the retailer, and now has the stock pulling bac...Read More
ACB is eyeing its worst session since January U.S. stocks are eyeing their third straight close in the red today, as Wall Street weighs a batch of disappointing earnings reports. Three stocks also below breakeven, due to bear notes from analysts, are weed concern Aurora Cannabis Inc (NYSE:ACB), online advertising issue Trade Desk Inc (NASDAQ:TTD), and oil titan Exxon Mobil Corporation (NYSE:XOM)....Read More
One speculator may be rolling down their September putsOil prices are plunging today, extending a recent slide that has the front-month crude contract down more than 8% week-to-date. Accordingly, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) is 8.5% so far this week -- off 0.9% today at $24.42 -- prompting one options bear to set their sights even lower.Taking a quick step back, XOP pu...Read More
Wells Fargo trimmed its TIF price target and earnings estimatesOn Monday, Tiffany & Co. (NYSE:TIF) was hit with a downgrade from Citi. Today, the luxury retailer received another bear note,this time from Wells Fargo, which trimmed its price target to $88 from $90. The analyst in coverage warned that Tiffany's "domestic business has historically decelerated in election years," and said political...Read More
Silver futures marked a fifth straight day of gains session gain on Thursday, for their highest finish in more than a year. Tight supply concerns, along with strength in gold, may help lift prices for silver back to levels not seen since 2016. "We were overdue for a rally in silver as the gold/silver ratio was sitting near historic highs," said Chris Gaffney, president of world markets at TIAA Ba...Read More
AXP has been climbing the charts since late DecemberFinancial giant American Express Company (NYSE:AXP) is 1% higher this afternoon at $128.41, ahead of the company's quarterly report, slated for before the market opens tomorrow, July 19. Below, we will take a look at how AXP has performed on the charts, and see what the options market is pricing in for the shares' post-earnings move.American Exp...Read More
ERI pulled back to a historically bullish trendline on the chartsCasino concern Eldorado Resorts Inc (NASDAQ:ERI) hit an all-time high in late June, before gapping lower on confirmation the firm is buying Caesars Entertainment (CZR). The stock came close to filling the bear gap earlier this month following a bounce off its 320-day moving average. ERI has once again pulled back to this historicall...Read More
Harley-Davidson and McDonald's are also set to report earningsThe last full trading week of July will be light on the economic front, though Wall Street will get a first glance at second-quarter gross domestic product (GDP). The earnings calendar is chock-full of notable names, though, with quarterly reports from Dow components Boeing (BA) and Caterpillar (CAT) on the radar. Earnings from FAANG na...Read More
UNH is the biggest blue-chip loser The Dow Jones Industrial Average (DJI) is down triple digits at midday, trudging toward its third straight loss. UnitedHealth (UNH) is the biggest blue-chip loser, despite an earnings win, overshadowing a well-received report for IBM Corp (IBM). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also in the red and on track for three-day skids of their ow...Read More
Deutsche Bank weighed in with fresh "buy" endorsementsAnalysts at Deutsche Bank weighed in on several biotech stocks this morning, including Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) and Sutro Biopharma Inc (NASDAQ:STRO). The brokerage firm initiated coverage of both DCPH and STRO stocks with a "buy" rating, and their new respective price targets of $42 and $22 suggest the analysts think the equ...Read More
Put buyers are swooping in on CLF ahead of earningsCleveland-Cliffs Inc (NYSE:CLF) will report earnings ahead of the open tomorrow, July 19. The mining name is coming off back-to-back positive earnings reactions -- with the stock jumping 2.3% and 8.5% the day after the firm's April and February reports, respectively -- but today's options traders are betting against the trend.At last check, 2,563...Read More
AMD stock has roughly doubled over the past 12 monthsTechnology powerhouse Advanced Micro Devices, Inc. (NASDAQ:AMD) is down 2% at $32.92 this morning, after Mizuho downgraded the chip stock to "neutral" from "buy." The firm did hike its price target to $37 from $33, but stated that it's moving to the sidelines due to pricing pressure from rival Intel (INTC), as well as the stock being past its f...Read More
UnitedHealth reported second-quarter earnings and revenue that beat estimatesDow component UnitedHealth Group Inc (NYSE:UNH) islower this morning, despite reporting second-quarter earnings and revenuethat exceeded analysts' expectations. The healthcare concern also upped itsfull-year profit forecast, but the company's CFO predicted 2019 revenue that comes in "at or just slightly below" the previou...Read More
NFLX is headed for its sixth straight lossOne of the biggest and most surprising earnings losers this morning is Netflix, Inc. (NASDAQ:NFLX), down 9.7% to trade at $328.46 this morning. The streaming giant lost 126,000 U.S. video streaming customers for the first time in eight years, and international subscriber additions came in lower than expected. This has offsetbetter-than-expected second-qua...Read More
The best part? It's risk-free. In an explosive report a former Lehman Brothers executive reveals one of Wall Street's most closely guarded investing secrets.The secret?A proven system for turning small sums of cash into vast windfalls of profits-without risking a penny in the stock market.Essentially, this system uses the latest advances in computer science and financial technology to give inve...Read More