The stock has ended Q3 higher 100% of the time over the past decadeThe Dow Jones Industrial Average (DJI) is set to wrap up its second-best month since October 2015, with the index pacing for a June gain of more than 7%. What's more, if past is prologue, the summer rally could have legs. According to Bespoke Group, July has been the strongest month of the year for the Dow over the last century, wi...Read More
Weekly calls are popular on GSBank stocks are having a strong session after U.S. financial institutions passed their stress tests from the Fed. One winner is Goldman Sachs Group Inc (NYSE:GS), who is set to close atop the 200-day moving average for the first time in over a year, last seen trading up 2.4% at $204.12. This price action has sparked interesting GS options trading, too. More than 48,00...Read More
Gold futures edged higher on Friday and scored their biggest monthly percentage gain in three years following a climb to a nearly six-year higher earlier in the week. "Gold has surged over the past month as the [U.S. Federal Reserve's] amazing turn from hawks at the beginning of the year to doves today has finally shifted investor expectations," said Brien Lundin, editor of Gold Newsletter. "Inves...Read More
Gold futures edged higher on Friday and scored their biggest monthly percentage gain in three years following a climb to a nearly six-year higher earlier in the week. "Gold has surged over the past month as the [U.S. Federal Reserve's] amazing turn from hawks at the beginning of the year to doves today has finally shifted investor expectations," said Brien Lundin, editor of Gold Newsletter. "Inves...Read More
The weekly 7/5 47-strike call is being targeted todayIt's been a a big week for Uber Technologies Inc (NYSE:UBER), which closed above its initial public offering (IPO) price of $45 per share for the first time ever yesterday. The ride-sharing stock is extending this upside today, last seen 3.2% higher at $46.56. The breakout session has options traders blitzing UBER stock, and the bulk of the acti...Read More
A rally continuation is likely after a small consolidation.Sentiment turned bullish quickly.The entire precious metals complex looks bullish from a technical and behavioural angle.Gold delivered a magnificent rally over the course of the last month. It performed slightly more than 10% during this short period of time. The party is probably not over yet. Some follow-through on the upside is likely....Read More
The S&P 500 clocked a four-day losing streak It was a mostly down week for stocks, with the Dow trading on both sides of the breakeven, and the S&P 500 clocking a four-day losing streak before finally rebounding on Thursday. Anticipation over U.S. President Donald Trump and Chinese President Xi Jinping's meeting at the G-20 summit was steering most of thetrading. Elsewhere, Fed Chair Jerome Powel...Read More
Open interest in Gold futures on the COMEX bottomed at 430k contracts on April 30.From a technical perspective, Gold is clearly extremely overbought according to several indicators and across multiple time frames.Silver is likely to fall too, but I expect it to outperform Gold both on the upside and the downside given its superior technicals, sentiment, and positioning data.By David Brady, CFA Ope...Read More
Upside is modest ahead of this weekend's Trump-Xi trade meetingThe Dow Jones Industrial Average (DJI) is trading higher today, as big-cap bank stocks JPMorgan Chase (JPM) and Goldman Sachs (GS) pop after the Fed's annual stress tests opened the door for dividend hikes. However, the upside is modest as caution sets in ahead of this weekend's highly anticipated meeting between U.S. President Donald...Read More
It's the only fund on our list with a 100% win rateThe U.S. stock market is set to wrap up a banner June, with the S&P 500 Index (SPX) fresh off all-time highs. What's more, several sectors could continue to shine in July, if recent history is any guide. In fact, the Technology Select Sector SPDR Fund (XLK) emerged as one of the best exchange-traded funds (ETFs) to own next month, having ended Ju...Read More
XOM options are attractively pricedEnergy icon Exxon Mobil Corporation (NYSE:XOM) is about to lock up its best month since October 2015. However, heading into July and the heat of the summer, XOM could be headed for a pullback, if history is any guide.More specifically, XOM is one of the worst SPX stocks to own in July, looking at historical returns over the past decade. To make the list -- culti...Read More
The biotech was downgraded at Piper Jaffray earlierBiogen Inc (NASDAQ:BIIB) stock is trading down 1.8% at $235.42, after Piper Jaffray downgraded the biotech to "neutral" from "overweight," and lowered its price target to $250 from $280. The brokerage firm is concerned about increasing competition among multiple sclerosis drugs, and says it sees "troubling near- and longer-term trends" for BIIB. M...Read More
Apple is currently testing the $200 levelTech powerhouse Apple Inc. (NASDAQ:AAPL) is inching lower this morning, down 0.6% at $198.60, afterthe company's design chief, Sir Jony Ive, announced he is stepping down from his role later this year. Ive obtained his position in 1996, overseeing the financial and design turnaround of many memorable products. Current CEO Tim Cook noted Ive's "role in Appl...Read More
AutoZone stock recently hit an all-time high AutoZone, Inc. (NYSE:AZO) stock has had a huge year, rising 29% in 2019 and hitting an all-time high of $1,135.39 last week. Just this morning, Guggenheim upgraded its opinion on the auto parts retailer to "outperform" from "perform," and lifted its price target to $1,225 from $900, expecting more strong sales growth going forward. Taking a step back, m...Read More
Just because the price of gold goes higher, doesn't mean gold is ready for liftoff.U.S. Mint sales are still lagging. Gold dealer sales are still lagging.Faith in the Fed, Trump, Stocks, et al not helping gold.Silver needs to lead if we are ready for liftoff. It's not. Why?National Debt and Budget Deficits are irrelevant to gold. What's the Fed doing?I have been following gold for a lo...Read More
STZ option bears were circling ahead of earningsThe shares of Constellation Brands Inc (NYSE:STZ) are headed for their fourth day in the black, after the adult beverage concern announced fiscal first-quarter earnings and revenue that beat analysts' expectations. The company said sales of its Modelo and Corona Premier brands were major drivers, and lifted its fiscal 2020 profit forecast as well. T...Read More
Last week, gold spiked above $1,400/oz - a move driven by a change in the U.S. Federal Reserve's (Fed's) outlook that increases the chances for a series of rate cuts to stimulate both the economy and inflation.The U.S. stock market's blind faith in the Fed's policies is pushing the market back to its highs.The range-bound gold market of the past six years has brought a lack of inte...Read More
SQ options can be had for a bargain at the moment, tooThe shares of Square Inc (NYSE:SQ) are up 2.3% to trade at $72.93 this morning, after Instinet hiked its price target to $100 from $90. The triple-digit mark sits just under SQ's Oct. 1 record high of $101.15, and implies expected upside of 40% to last night's close. Square stock started 2019 off gangbusters, racing past the $80 level by Marc...Read More
The brokerage firm lifted its rating on the Dow stock to "buy"Goldman Sachs upgraded Procter & Gamble Co (NYSE:PG) stock to "buy" from "neutral," and lifted its price target to $125 from $114 -- a nearly 14% premium to last night's close. The brokerage firm said this next year will "mark a turn in [PG's] margin profile and profit growth as relative organic strength sustains," and that it "offers i...Read More
US banks received mostly positive reviews with their stress testsStock futures are trading sharply higher this morning, as eyes turn to the G-20 summit in Japan, where President Donald Trump will meet Chinese President Xi Jinping on Saturday. Bank stocks look to be in for a strong session thanks to mostly positive marks following the Fed's annual stress tests, and traders are also considering earn...Read More