Gold futures on Thursday logged their lowest settlement year to date, a day after Federal Reserve Chairman Jerome Powell cast doubt about the prospect for a near-term rate reduction. "Apparently a number of markets were expecting to see signs that the Fed was leaning toward cutting interest rates, and those hopes were dashed by the upbeat economic assessment from the Fed Chairman press conference"...Read More
The cloud stock is staring up at a historically bearish trendlineWhile one cloud stock soars to new heights, another could be in trouble. The shares of Nutanix Inc (NASDAQ:NTNX) are down 1.4% to trade at $42.36 today, as they consolidate below a key trendline. Unfortunately, staring up at this trendline has had bearish implications for the cloud specialist, if history is any guide. More specific...Read More
Wednesday's trading session was bearish, as investors reacted to the FOMC Rate Decision release. However, the S&P 500 index has managed to reach yet another new record high of 2,954.13, before reversing and closing 0.8% lower. Was it a downward reversal or just some quick profit-taking action?The U.S. stock market indexes lost 0.6-0.8% on Wednesday, as investors reacted to the Fed's Statement...Read More
It took just six weeks for subscribers to double their investment Subscribers to Schaeffer's Weekend Trader Series managed to double their money in a little more than a month with the Veeva Systems Inc (NYSE:VEEV) June 115 call. Below, we will dive into why we anticipated an upside move from the cloud specialist, and how the options trade unfolded. When we first recommended the call optio...Read More
The risks and rewards of the long strangle strategyEarnings season has been at full speed these past few weeks, but there's still time tospeculate on volatility using options. One way to do this is by employing a long strangle options strategy. Much like a straddle, a long strangle involves a bullish option trade and a bearish option trade, played simultaneously. Both the call and put are bought t...Read More
Investors may be expressing disappointment over the Fed's decision to not cut ratesStocks are pulling back today, as investors react to corporate earnings and yesterday's Fed decision. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all in the red, while the yield on the 10-year Treasury note rises. And even as strong earnings from the likes of Under Ar...Read More
* Gold slips for second straight session * Platinum touches lowest in a month * Silver hovers close to a more than four-month low * Dollar extends gains on Fed statement * Markets eye Friday's U.S. jobs data, U.S.-China tradetalks (Updates prices)By K. Sathya NarayananMay 2 (Reuters) - Gold prices slumped to an over four-monthlow on Thursday after the U.S. Federal Open Market Committee(FOMC) axed...Read More
The shares bottomed at a record low yesterdayOppenheimer initiated coverage on Athenex Inc (NASDAQ:ATNX) with an "outperform" rating and $20 price target -- a nearly 112% premium to last night's close at $9.44. The covering analyst waxed optimistic on positive data for the biopharmaceutical firm's specialty oncology products, as well as positive late-stage Oraxol breast cancer data.Analysts are al...Read More
The beauty stock is cooling off after hitting a record highShares of beauty product name Estee Lauder Companies Inc (NYSE:EL) touched a record high of $178.58 yesterday, as traders responded to the company's quarterly earnings and upwardly revised 2019 forecast. However, EL stock ultimately ended the day lower, and is in the red today amid negative analyst attention and an ugly earnings reaction...Read More
The shares have averaged a one-month gain of more than 10% after signalsBausch Health Companies Inc (NYSE:BHC) -- n?(C)e Valeant Pharmaceuticals -- is schedule to report earnings before the open next Monday, May 6. Ahead of the event, BHC shares have pulled back to a key trendline, which could be a short-term buy signal, if recent history is any indicator.The past year has been choppy for Bausch H...Read More
Global demand for gold grew to 1,053.3 tonnes in Q1, up 7% year-on-year, according to the latest report by the World Gold Council. A big reason for the stronger demand is central banks, which continued to buy gold for diversification and liquidity purposes. Another is improvement in the India market.Central banks around the world bought 145.5 tonnes of gold this quarter, the largest increase in gl...Read More
Global demand for gold grew to 1,053.3 tonnes in Q1, up 7% year-on-year, according to the latest report by the World Gold Council. A big reason for the stronger demand is central banks, which continued to buy gold for diversification and liquidity purposes. Another is improvement in the India market.Central banks around the world bought 145.5 tonnes of gold this quarter, the largest increase in gl...Read More
SQ stock is down, despite an earnings beatDespite upbeat first-quarter results, including the e-pay concern's stronger-than-anticipated 11 cents per-share profit and $489 million in revenue, Square Inc (NYSE:SQ) stock has taken a tumble this morning. The stock is down 6.1% at $69.14 in early trading on the firm's worse-than-expected gross payments volumes (GPV) and current-quarter guidance, with s...Read More
Most analysts remain wary of the apparel stock, thoughA big earnings winner this morning is Under Armour Inc (NYSE:UAA), after the athletic apparel maker reported first-quarter adjusted earnings of 5 cents per share, surpassing estimates. In addition, revenue also topped expectations, and the company lifted its fiscal-year profit outlook. Strong demand from outside the U.S. markets helped fuel th...Read More
An SEC filing revealed the company's plans to raise $2 billionTesla Inc (NASDAQ:TSLA) stock is up 5.4% to trade at $246.80, after a Securities and Exchange Commission (SEC) filing revealed the electric car concern's plans raise over $2 billion in capital through convertible notes and a new stock offering. Additionally, TSLA CEO Elon Musk intends to buy $10 million of stock in the offering. This fo...Read More
The earnings heavy week will also feature speeches from several Fed leadersNext week will be packed with earnings, as blue chip Walt Disney (DIS) and e-tailer Etsy (ETSY) step into the spotlight. Earnings from Lyft (LYFT) and Roku (ROKU) are also on tap. Elsewhere, the consumer price index (CPI), and producer price index (PPI) will be two of the biggest releases on the earnings front. Plus, severa...Read More
Zynga could be set up for a record year after first-quarter bookings blew past estimates Corporate earnings releases keep pouring in, and this morning Wall Street is digesting numbers from social gaming company Zynga Inc (NASDAQ:ZNGA), maker of Words with Friends, and online furniture selling expert Wayfair Inc (NYSE:W). While ZNGA is jumping out of the gate, shares of W are pulling back.For Zynga...Read More
Tesla stock is pointed higher on plans to raise capitalDow Jones Industrial Average (DJI) futures are pointing toward a lower open, with the S&P 500 Index (SPX) following suit. Investors continue to digest Fed Chair Jerome Powell's post-meeting comments indicating interest rates will likely remain unchanged, which dampened expectations for a rate cut. Meanwhile, the Nasdaq-100 Index (NDX) is poi...Read More
Grayscale Investments launches anti-gold, pro Bitcoin campaign. THe company believes that our future lies with digital assets. The cryptocurrency asset management company Grayscale Investments, which is a part of Barry Silbert’s Digital Currency Group, launched Drop Gold campaign, designed to lure investors from gold to digital assets. “The gold...Read More
Gold higher time frame cycles suggest that cycle from 8/16/2018 low ended 5 waves advance on February 20, 2019, at $1346.75 high. Since then, Gold is going lower in an impulse manner as the decline is unfolding as Elliott wave zigzag structure. It’s important to note that the cycle from 2/20/2019 peak remains incomplete to the downside therefore, further downside is expected. Looking for mor...Read More