The semiconductor sector is a big winner from the U.S.-China trade truceThe Dow Jones Industrial Average (DJI) is enjoying outsized gains today, as Wall Street reacts to a U.S.-China trade truce. Fresh off its best month in years, the blue-chip index neared new highs earlier, but lost steam after data from the Institute for Supply Management showed U.S. manufacturing grew in June at the slowest pa...Read More
MA has performed great during this time of yearWe've already discussed Visa (V) and its historical outperformance in the coming months, but rival Mastercard Inc (NYSE:MA) has also done extremely well in both July and the entire third quarter over the past decade. For July, MA shares have averaged a 4.9% gain during the past 10 years, and they've closed the month positive each time. The average gai...Read More
AMD and MU have seen unusually heavy options activity in recent weeksThe Nasdaq is outperforming in today's broad-market rally, with chip stocks leading the charge on a U.S.-China trade truce, which includes reducing sanctions on Chinese tech firm Huawei. Two names in particular making notable moves are Advanced Micro Devices, Inc. (NASDAQ:AMD) and Micron Technology, Inc. (NASDAQ:MU), and options...Read More
The firm just announced positive results for its Spinraza treatment todayThe shares of Biogen Inc (NASDAQ:BIIB) are up 0.9% at $236 after the firm said its spinal muscular atrophy treatment Spinraza was well tolerated in patients with the disease, with many seeing "unprecedented" motor milestones. The study also reported that 100% of children who participated were able to sit without assistance an...Read More
The S&P's rolling six-month return briefly exceeded 20% in late JuneThe April-June gains in the S&P 500 Index (SPX) weren't quite as "runaway" as those collected in the first calendar quarter of 2019, but the June snapback in the equities market -- which completely erased May's rout -- was sufficient to deliver a second consecutive positive quarter for stocks. What's more, on the heels of its earl...Read More
The weather in 2019 could be raining on Brunswick's businessThe U.S. has experienced historic levels of rainfall in 2019, and some on Wall Street see this as bad news for the boating business. Brokerage firm RBC this morning downgraded boat producer Brunswick Corporation (NYSE:BC) to "sector perform" from "outperform," and lowered its price target to $47 from $55. The analyst note said that dealer...Read More
The easing of U.S.-China trade tensions are also fueling upside todayIt was a big weekend for Applied Materials, Inc. (NASDAQ:AMAT). First, the semiconductor name got a boost from the U.S.-China trade truce --more specifically -- the easing of U.S. restrictions on Chinese tech giant Huawei. Then, Applied Materials inked a deal to buy Japanese chipmaker Kokusai Electric for $2.2 billion. The deal b...Read More
WYNN has been recovering from its early June lowsCasino giant Wynn Resorts, Limited (NASDAQ:WYNN) is moving higheralongside its sector peers this morning, seeing a lift after Chinese territory Macau reported a 5.9% year-over-year rise in gambling revenue for the month of June, more than analysts were expecting. WYNN was last seen up 5% in electronic trading, as traders brush off a price-target cu...Read More
The U.S. and China struck a positive tone on trade after G-20 talks between Trump and XiA warm reception to this weekend's trade talks between U.S. President Donald Trump and China's President Xi Jinping on the sidelines of the G-20 meeting has Dow futures surging more than 200 points above fair value. The two nations decided they would hold off on imposing new tariffs in favor of moving forward w...Read More
Goldman Sachs cut its rating on ZM to "sell"Goldman Sachs downgraded Zoom Video Communications Inc (NASDAQ:ZM) to "sell" from "neutral," with analyst Heather Bellini saying the video conferencing's long-term potential is already priced in. However, given ZM stock's impressive run since its mid-April trading debut, the brokerage firm upped its price target to $66 from $53 -- still a major discount...Read More
The equities market was primed for a positive shock to the system after the G-20 meeting "The breakdown in Sino-U.S. talks and the latest targeting of Chinese companies by the White House has economists at investment banks increasingly pessimistic about the long-term outlook. Goldman Sachs Group Inc., Nomura Holdings Inc., and JPMorgan Chase and Co. are among those pricing-in a greater chance of a...Read More
* GRAPHIC-2019 asset returns:* Discount for cash against 3-month aluminium narrows (Updates with official prices, U.S. data and nickel)By Pratima DesaiLONDON, July 1 (Reuters) - Copper prices hit six-week highson Monday as sentiment turned positive after the United Statesand China agreed a trade truce, but weak manufacturing datareinforced expectations of slowing economic activity and demand.Bench...Read More
June 28th, 2019(S14-E702)Featured GuestsWolf Richter& Bill MurphyPlease Listen Here - MP3Interview RecapBill Murphy of GATA.org returns to the show with fresh insights on the stunning PMs shares rally, which outperformed the key US equities markets.Gold may have built a final base in preparation for liftoff to $2,000+ in the coming years, as the "Gold Cartel" runs out of physical bullion to s...Read More
RambusThis is a condensed version of Rambus Weekend Report. There are over 20 individual PM stocks individually updated in the full version.I would like to start out this Weekend Report by looking at a long term monthly chart for the GDX. The multi year bear market actually began in September of 2011 at the head portion of the 3 1/2 year H&S top. The H&S top actually began to form in September...Read More
It has been a truly glorious month for gold, and the purpose of this update is to point out firstly that the gold breakout of the past week was genuine and secondly that any short term reaction back as far as $1380 or even $1370 will not negate the breakout - instead it should be seized upon as an opportunity to build positions across the sector, especially in trampled down undervalued silver st...Read More
StrengthsThe best performing metal for the week was platinum, which gained 3.02 percent. Both platinum and palladium seem to be playing catch up to gold's strong move last week. Gold extended its rally this week, pushing past $1,400 an ounce and fueling investors to pour cash into funds backed by the yellow...Read More
- Keith Weiner, Monetary MetalsLast week, we discussed the fundamental flaw in GDP. GDP is a perfect tool for central planning tools. But for measuring the economy, not so much. This is because it looks only at cash revenues. It does not look at the balance sheet. It does not take into account capital consumption or debt accumulation. Any Keynesian fool can add to GDP by borrowing to spend....Read More
- Jordan Roy-Byrne CMT, MFTAAs I pen this article, Gold is set to close the month and the quarter above $1400/oz and holding the majority of its recent gains. That does not necessitate continued strength but it is a good sign.The technicals and fundamentals are finally in place for Gold. It is outperforming all major currencies and the Federal Reserve is weeks away from beginning a new cycle of...Read More
Gold and silver can fall more after the US-China meeting at G20. Gold will crash if it trades below $1390. Silver will crash if it trades below $1505. Copper and crude oil should rise today. Traders will assess the US-China trade talk. Since details are not yet made public, reaction will be limited. I do not think North Korea will have any impact on currencies or bullion. Do not confuse that tr...Read More