"I wonder if the New York Times will apologize to me a second time, as they did after the 2016 Election. But this one will have to be a far bigger & better apology. On this oneContinue...Read More
Corporate earnings took U.S. markets by storm todayU.S. stocks closed significantly higher, with both the S&P 500 and Nasdaq nabbing all-time closing highs on the back of several impressive corporate earnings reports and strong housing data. The Dow also made a notable move north, settling at its highest mark since Oct. 3, after noteworthy results surfaced out of United Technologies (UTX) and Coca...Read More
Oil prices are pointed higher, tooDow Jones Industrial Average (DJI) futures are modestly above fair value this morning, as Wall Street digests a heavy dose of blue-chip earnings. Among the winners are Coca-Cola (KO) and United Technologies (UTX), while Procter & Gamble (PG) stock seems set for a post-earnings slip. Traders are also keeping a close eye on oil prices, which continue to rise. At las...Read More
The fund appears headed for its longest weekly win streak in five yearsSkyrocketing oil prices have sparked heavy options trading on United States Oil Fund (USO). The energy-focused exchange-traded fund (ETF) is up 0.9% today to trade at $13.79 -- and 10.3% higher month-to-date -- and calls are in high demand, with one bull betting on even bigger gains over the next month.Taking a quick step back,...Read More
The shares are stalling near a key technical area, thoughIt's a record-setting session on Wall Street today, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) poised for all-time closing highs. Among individual stocks making notable moves are retailer Kohl's Corporation (NYSE:KSS), semiconductor name Qualcomm, Inc. (NASDAQ:QCOM), and integrated circuit specialist Silicon Motion Technology C...Read More
Cantor Fitzgerald is bullish on the company's migraine drugZosano Pharma Corp (NASDAQ:ZSAN) shares are higher today, after analysts at Cantor Fitzgerald initiated coverage with an "outperform" rating and $12 price target -- more than triple yesterday's ZSAN close of $3.66. The brokerage firm last night waxed optimistic on Zosano's ADAM technology and Qtryptadrug, the latter of which Cantor expects...Read More
The Dow component is preparing to report earningsMicrosoft Corporation (NASDAQ:MSFT) just hit an all-time high of $125.25 ahead of its post-close earnings release tomorrow, April 24, extending its year-to-date gain to roughly 23%. We noted earlier this month that bullish options traders were getting behind the stock, and that trend has continued, with MSFT's 10-day call/put volume ratio at the Int...Read More
The Dow is heading toward its highest close since OctoberThe Dow Jones Industrial Average (DJI) is up triple-digits today, and eyeing its highest close since October, thanks to a upbeat quarterly earnings from blue chips Coca-Cola (KO) and United Technologies (UTX). In addition, traders are digesting a surprise jump in new home sales in March. Both the S&P 500 Index (SPX) and Nasdaq Composite...Read More
By: Ira EpsteinJune gold contract swing line 1$273 / $1299.1Read More
By: Jordan Roy-Byrne CMT, MFTAThe downside potential in precious metals discussed last week is playing out as Gold and gold stocks have broken down technically. The global economy appears to be firming and that is evidenced by a sustained rebound in global equity markets. As a result, the potential for a rate cut which pushed precious metals higher is now unwinding. That has caused the breakdo...Read More
I have been writing for quite some time that higher crude oil prices will be a big threat to global economic growth. Iran, Venezuela and Libya crude oil is not there. May to September is the key consumption months for the year. Global economic growth will be derailed if crude oil prices continue to rise. Inflation in Asia will also rise if crude oil prices zoom. Higher crude oil prices is genera...Read More
Portfoliostrategies like Modern Portfolio Theory andothers tend to assume that market returns follow a normal distribution.Notreally.Certainsecurities have high kurtosis.That is where out-of-the ordinary returns (larger or smaller) occur morefrequently than the normal distribution predicts.Ofcourse, nobody who is stable and balanced puts 100% of their assets intosomething which has the p...Read More
The software shares are trading in record-high territorySoftware name VMware, Inc. (NYSE:VMW) has been trading in a solid channel of higher highs lately. The shares hit an all-time high of $194.24 just last week, and are now pulling back to their 20-day moving average - a trendline that has acted as support this year.We believe now is an opportune time to get in on VMW's next leg higher. In spite...Read More
PayPal reports earnings after the close on WednesdayPayPal Holdings Inc (NASDAQ:PYPL) stock this morning received a price-target increase to $125 from $110 at Jefferies. The move shows confidence in PYPL shares extending their impressive start to the year, already up 27% in 2019 and they hit an all-time high of $109 last week. Technical data suggests more upside indeed is ahead, since Schaeffer's...Read More
We know many of you follow our research posts and have been waiting for the Gold/Silver setup we predicted would happen near April 21~24, 2019 back in January 2019. Well, it looks like our predictions were accurate and the current downward price rotation in Gold/Silver are the opportunities of a lifetime for precious metals traders.Our original research regarding the predicted Gold price rot...Read More
DIS recently gapped higher after providing details for its new streaming serviceThe shares of Walt Disney Co (NYSE:DIS) are up 1.9% to trade at $134.16 this morning, and earlier nabbed a fresh record high of $134.23, getting a boost ahead of this week's premier of "Avengers: Endgame," the final chapter of the movie industry's highest-grossing franchise of all time. The movie is a contender to s...Read More
The shares have broken out above their 200-day trendlineHasbro, Inc. (NASDAQ:HAS) stock gapped higher at the open this morning, after the toymaker said it swung to an unexpected first-quarter profit of 21 cents per share, while revenue of $732.5 million handily exceeded the consensus estimate. HAS cited rising sales from its franchise brands -- which include Play-Doh and Monopoly -- as well as a s...Read More
Rebar producers that re-roll billet in Egypt have appealed to the Egyptian government to reconsider a recently imposed safeguard duty on imports of the semi-finished product.The country's Ministry of Trade & Industry began imposing a temporary import duty of 3-15% for billet on April 15, in addition to a 25% tariff on rebar, following an investigation that began at the end of last month. The provi...Read More
SHOP could notch new highs again todayShopify Inc (NYSE:SHOP) scored a price-target raise to $240 from $210 at CIBC, with the brokerage firm maintaining its "outperform" rating ahead of earnings next Tuesday, April 30. CIBC said it was impressed by Shopify's improving trends in international markets and around its Plus e-commerce product, as well as its positive earnings history sinceits May 2015...Read More
China's major mills raised their daily output rates for crude steel in early April and their inventories of finished steel also increased.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.96 million tonnes per day during the first 10 days of April, up 6.56% from 1.83 million tpd in late March, according to data released by the industry body late on T...Read More