Options volume is accelerated on CTST, ACB, and CGC stocksU.S. stocks are rallying again today to end their record-setting week on another high note. In the meantime, we're monitoring moves from weed stocks CannTrust Holdings Inc (NYSE:CTST), Aurora Cannabis Inc (NYSE:ACB), and Canopy Growth Corp (NYSE:CGC). Here's how the shares of CTST, ACB, and CGC are trading today. New Low For CTST After It P...Read More
Gold futures ended higher on Friday to build a gain for the week, after Federal Reserve Chairman Jerome Powell this week did nothing to dispel expectations for an interest rate cut later this month. The recent dovish comments from the Federal Reserve are "helpful to gold," said George Gero, managing director at RBC Wealth Management, in daily commentary. "Traders still buy good dips, so gold has s...Read More
The shares have retreated after every other signal over the past three yearsCardinal Health Inc (NYSE:CAH) was among the drug distributors that catapulted higher yesterday, after the Trump administration withdrew a proposal that aimed to end rebates paid to pharmacy benefit managers. As such, CAH stock yesterday rallied to its highest point in nearly two months. However, if recent history is any i...Read More
Analysts are overwhelming bullish on the biopharmaRedhill Biopharma Ltd (NASDAQ:RDHL) stock is near the top of the Nasdaq today, up 12.7% at $7.48, after the Israel-based drugmaker saw some bullish brokerage attention. Specifically, WBB Securities raised its rating to "strong buy" from "buy," and reiterated its $17 price target -- a 156% premium to last night's close.The firm said it expects the F...Read More
Goldman Sachs upgraded SFIX stock to "buy" from "neutralThe shares of online styling service Stitch Fix Inc (NASDAQ:SFIX) are on the rise, after Goldman Sachs upgraded the stock to "buy" from "neutral," commending the company's "product innovation, operational efficiencies, and geographic expansion," as well as its recent brick-and-mortar store closures, which could provide "significant opportun...Read More
Palladium's record prices have grabbed the spotlight but at nearly half the cost per ounce, platinum, its sister metal, deserves attention too. "Platinum did not participate in the rally that gripped fellow precious metals, such as gold, silver, palladium, and rhodium, over the past month," says Ryan Giannotto, director of research at GraniteShares, which runs the GraniteShares Platinum Shares exc...Read More
The SPX has reclaimed the 3,000 levelThe Dow Jones Industrial Average (DJI) is heading toward its third straight win and second straight triple-digit gain to close out a record-setting week. The blue-chip index already nabbed another fresh intraday record high earlier today, as optimism regarding a Fed rate cut builds. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are confidently higher as...Read More
Weekly options trading has picked up on FBFacebook, Inc. (NASDAQ:FB) is in focus today after President Donald Trump tweeted about the company's new cryptocurrency Libra, saying he's "not a fan" of cryptocurrencies in general and that the company may need to get a banking charter. This comes as the Senate Committee on Banking, Housing, and Urban Affairs is set to hold a hearing for Libra next week,...Read More
Both Citi and BMO see headwinds for banks from potential Fed rate cutsMost bank stocks got a boost yesterday, after Fed Vice Chair Randal Quarles said the central bank would announce changes to the Volcker Rule later this year as a means of deregulating the financial industry. Nevertheless, Citigroup sees headwinds for the sector, saying a 100-basis point Fed rate cut could pull down U.S. banks ea...Read More
Cititgroup has been climbing higher on the chartsBank giant Citigroup Inc (NYSE:C) is up 0.3% at $71.83 this afternoon, eyeing its sixth straight weekly win. Options traders may be gearing up for the company's second-quarter earnings, slated for before the market opens, Monday, July 15. Below we will take a look at how C has been faring on the charts, as well as to what the options market is pric...Read More
Illumina also lowered its full-year revenue growth forecastBiopharma concern Illumina, Inc. (NASDAQ:ILMN) is eyeing its worst day in nearly three years, after the company reported preliminary second-quarter revenue that fell well below analysts' expectations. The firm also lowered its full-year revenue growth forecast, citing a weak direct-to-consumer market, among other things. ILMN stock is down...Read More
Analysts remain quite bullish on SAVE, thoughA day after Delta Air Lines (DAL) soared in the wake of its quarterly report, the shares of sector peer Spirit Airlines Incorporated (NYSE:SAVE) are down 0.4% to trade at $52.04 this morning. Spirit's second-quarter revenue growth outlook of nearly 19% came in lower than expected. Despite the subpar number, Citi upped its price target on SAVE today to...Read More
Ford has been climbing the charts since its December bottomShares of Ford Motor Company (NYSE:F) are higher this morning, after the car name announced an extended collaboration with sector peer Volkswagen. Specifically, the two automakers will take equal minority stakes in self-driving and electric vehicle startup Argo, which will result in a majority stake when combined. The deal allows the compa...Read More
The brokerage firm began coverage on Wall Street freshmen Zoom Video Communications and SlackWall Street newcomers Zoom Video Communications Inc (NASDAQ:ZM) and Slack Technologies Inc (NYSE:WORK) are in focus this morning after receiving new coverage at Stephens. More specifically, the brokerage firm took a bullish view on both the shares of ZM and SLACK, giving them "overweight" designations. Loo...Read More
The Dow is set to extend its journey atop 27,000Dow Jones Industrial Average (DJI) futures keep surging, signaling another record high on the horizon, amid lingering optimism about a July rate cut. Traders continue to cheer dovish two-day testimony from Fed Chair Jerome Powell, with bank stocks Goldman Sachs (GS) and JPMorgan Chase (JPM) higher ahead of the bell -- and ahead of a flood of bank ear...Read More
The biopharma outlined a Phase 3 study for its MS treatment, ibudilastMediciNova, Inc. (NASDAQ:MNOV) stock is up 9% in electronic trading, after the California-based biopharmaceutical firm announced plans for a late-stage clinical trial for ibudilast in patients with progressive multiple sclerosis (MS). The company said it will conduct just one study, with the Food and Drug Administration (FDA) sa...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, July 12 (Reuters) - Nickel prices touched theirhighest in four months on Friday on worries that major producerIndonesia will resume an export ban on ore in 2022.Indonesia relaxed the ban in 2017, but said at the time thatit would last only five years and that exports would berestricted again in 2022. Analyst Colin Ham...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average and the S&P 500 both closed at record highs Thursday, bolstered by suggestions from Fed Chair Jerome Powell that the central bank would cut interest rates and a healthcare stocks rally. Bed Bath & Beyond (BBBY - Get Report) shares fell after the home retailer posted stronger-than-expected first-quarte...Read More
(Kitco News) - Legendary investor Jim Rogers, chairman of Rogers Holdings, is back, and he's warning that the next bear market is going to be "horrible, compounded by too much debt and a trade war." The longest bull market in American history will be short lived, as macroeconomic problems will surface soon, Rogers said. "Later, this year or next year when the economies around the world are gettin...Read More
Investing.com - Gold rose on Thursday in Asia after the U.S. Federal Reserve indicated that it’s preparing to cut interest rates despite a strong U.S. jobs report released last week.Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, were up 1% to $1,426.05 by 11:57 PM ET (03:57 GMT).Fed chairman Jerome Powell said overnight that the central ba...Read More