Lingering COVID-19 fears may have triggered the midday sell-off on Wall StreetThe Dow finished with a triple-digit loss today, its third-straight day moving at least 100 points, regardless of direction. The blue-chip index was down by almost 400 points at its session lows, hit by a sudden midday sell-off potentially triggered by lingered COVID-19 concerns. The S&P 500 and Nasdaq also closed in th...Read More
The shares of Avis Budget Group are trading near two-year highs after a fourth-quarter earnings beatRental car specialist Avis Budget Group Inc. (NASDAQ:CAR) entered the earnings confessional last night after the close with impressive results. Specifically, the firm posted fourth-quarter profits of $1.90 per share and a jump in revenue to a record $2.2 billion, both of which beat out analysts' es...Read More
LL shares are spiking todayLumber Liquidators Holdings Inc (NYSE:LL) is in focus today, with the stock last seen trading 27% higher at $10.38, fueled by online speculation that the shares could keep rocketing higher. This price action has LL pacing for its first close atop the 200-day moving average since mid-December, and options activity is through the roof in the meantime. So far today, roughl...Read More
Earnings season will end with a bang, as several retailers to report The final week of February will be a busy one. Investors will be sifting through a deluge of economic data, while earnings season is set to go out with a bang. In the forefront will be gross domestic product data for the fourth quarter, as well as a slew of home sales figures and consumer spending. As for earnings, the single blu...Read More
Gold futures climbed Thursday, sending bullion up for a sixth straight session to its highest finish in seven years,as persistent worries about China's coronavirus and a benign interest-rate environment provide a runway higher for the precious metal. "Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak f...Read More
MGM has had a difficult start to FebruaryMere days off news its CEO Jim Murren has stepped down, MGM Resorts International (NYSE:MGM) is now buzzing after revealing it fell victim to a data breach in 2019. Reportedly the information of 10.6 million guests was compromised, though major financial systems were not affected. In response, MGM is down 0.2% at $32.11, at last check. MGM Resorts stock h...Read More
Stocks are suddenly pulling back sharply at middayStocks are suddenly selling off sharply at midday, with the Dow Jones Industrial Average (DJI) down almost 300 points at last check. The losses are just as deep for the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), while gold prices surge to fresh highs amid the risk-off trading. At last check, April-dated gold futures were trading up 0.8% at...Read More
Options traders have been focused on calls for a whileRenewable resource stock Plug Power Inc (NASDAQ:PLUG) is having a resurgent start to 2020, up 72.8% year-to-date. PLUG is 3.4% higher today too, last seen at $5.85, and options traders are piling on the penny stock with an emphasis on calls. At last check, 62,000 calls have changed hands, 10 times the average intraday amount and nearly seven t...Read More
ETFC has already had a volatile run over the past 12 monthsShares of E-Trade Financial Corp (NASDAQ:ETFC) are surging this morning, last seen up 24.7% at $56.04, earlier off an annual high of $56.30, after news it has accepted a buyout offer from Morgan Stanley (MS), for $13 billion in stock. The purchase will allow Morgan Stanley to build on its wealth management sector through the addition of E...Read More
DPZ hit a new record high right out of the gateA big earnings winner this morning is Domino's Pizza, Inc. (NYSE:DPZ). The restaurant company reported adjusted fourth-quarter earnings of $3.13 per share on $1.15 billion in revenue, both of whichtopped analyst expectations. Same-store sales also roared past estimates, and the company attributed faster delivery and new promotions as catalysts behind...Read More
L Brands will sell its lingerie unit to Sycamore Partners After months of speculation surrounding L Brands Inc (NYSE:LB) and speculation that it wanted to sell its struggling subsidiary Victoria's Secret, it appears that the rumors were true. It was announced this morning that the firm will be selling a controlling stake in the lingerie brand to Sycamore Partners for $525 million. Additionally, L...Read More
Traders have economic data to sift through this morningU.S. stock futures are pointing to a lower open, with earnings and economic data in focus. Weekly jobless claims showed 210,000 Americans filed for unemployment benefits in the past week, matching expectations, and thePhilly Fed manufacturing index rose to a three-year high in February. Still, the Dow Jones Industrial Average (DJI) looks set f...Read More
RambusJust a quick update on the Yen / PM combo we've been following. Today the yen is moving lower in its new impulse move to the downside doing away with the positive correlation it used to have with the PM complex. While the yen is moving lower more PM stock indexes are breaking out to the upside. I just wanted to post this combo chart early so you can follow the breaking out and the backtest...Read More
- Steve St. Angelo, SRSrocco Report According to a precious metals dealer I spoke with, the world out on the street is that demand for gold and silver has recently surged due to investor concerns about a disruption to the Global Supply Chain. We are already seeing a massive slowdown in China's oil demand as official reports show a 20% reduction in oil consumption. However, I believe China'...Read More
- Stewart Thomson, Graceland Updates 1. The decline of the American empire continues relentlessly. The citizens look towards their government for guidance and all they see is maniacal debt worship. Monkey see...monkey do:2. New statistics show that credit card debt of millennials now rivals total student loan debt. 3. Please click here now. The nation's so-called "leaders" now...Read More
By: Ira EpsteinGold Market: higher highs ad higher lows short-term. What resistance exists above? Markets in general are looking at the "what if" scenarios..Read More
One needs to keep on booking profit as long as gold does not break $1633.80 and silver does not break $1882.90. There is a big technical resistance between $1633.80-$1648.50 and $1663.30. For gold to rise to $1900-$2000 for the rest of the year, it has to break and trade over $1633.80-$1648.50-$1663.30 zone. Why am writing this? This is always a slip between the cup and the lip. The Lip here is...Read More
Renowned analyst and forecaster Luke Gromen joins us to answer questions about interest rates, central bank policy and the benefits of physical precious metal ownership.Luke Gromen is a graduate of the University of Cincinnati and received his MBA from Case Western Reserve University. He earned the CFA designation in 2003. Luke provides strategic consulting services for corporate executives and is...Read More
Just because impeachment is almost over and it's an election year does not mean that Congress won't be the scene of anti-Trump activity. Congress is set to keep up the pressure on Trump on a daily basis, and the attacks will continue.Continue...Read More
Frank Holmes is the CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors.Read More