The S&P and Nasdaq closed lower for a second straight dayThe Dow spent almost the whole session in the red, as troubling trade tweets from President Donald Trump and a sharp sell-off for newly downgraded Pfizer (PFE) overshadowed positive earnings reactions for blue chips Procter & Gamble (PG) and Merck (MRK). This risk-off backdrop was seen on the S&P and Nasdaq, too, which both closed lower for...Read More
Home Depot was among the stocks that got drilledThe Federal Open Market Committee (FOMC) is widely expected to cut interest rates for the first time in more than a decade tomorrow. The last time the Fed cut rates after a string of hikes was back in September 2007, just before the financial crisis. Following that cut, several stocks took a massive hit over the subsequent month, including Dow compon...Read More
Offshore driller McDermott is a huge loser in today's tradingStocks are struggling today due to trade headwinds. Three of the names trading in the red today are online stylist Stitch Fix Inc (NASDAQ:SFIX), offshore drilling issue McDermott International (NYSE:MDR), and property management software provider AppFolio Inc (NASDAQ:APPF). Here's where the shares of SFIX, MDR, and APPF were trading at...Read More
TTWO has been one of the best stocks to own in August over the past decadeTake-Two Interactive Software, Inc. (NASDAQ:TTWO) stock has been making a beeline higher since bouncing from the $88 region in mid-April, up more than 39% atop support from its 10-day moving average. The shares could be headed even higher in the near term, if past is precedent, considering TTWO has been one of the best stock...Read More
Ross Stores has added 21% over the past 12 monthsShares of department store chain Ross Stores, Inc. (NASDAQ:ROST) have surged 21% year-over-year, while simultaneously marking a fresh record high as recently as July 19. And despite pulling back within the past few weeks, ROST has quickly rebounded near the site of its previous highs, making now the perfect time to buy calls to bet on a bigger bounc...Read More
SunPower pulled back to a historically bullish trendline ahead of tomorrow's earnings reportSolar energy concern SunPower Corporation (NASDAQ:SPWR) has been on a tear this year. The stock has gained roughly 117% so far in 2019, and just hit a nearly three-year high of $12.79 earlier this month. What's more, the equity landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks w...Read More
The precious metals sector appears to have started a correction. It was roaring higher until natural resistance kicked in and the US Dollar grinded its way higher, towards its 2019 high. Factor in the Fed decision this week and it has created a natural “buy the rumor, sell the news” event. We cannot know for certain what the Federal Reserve will do or even more importantly, h...Read More
The Fed's two-day meeting is set to begin todayThe Dow Jones Industrial Average (DJI) was down more than 150 points earlier, but has pared its losses at midday, thanks to solid earnings reactions from Procter & Gamble (PG) and Merck (MRK) stocks. Still, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) arefirmly in the red amid renewed trade tensions with China. Hopes for a trade deal took a h...Read More
The equity is among the 25 worst stocks to own in AugustThe major market indexes are set to wrap up July with a win, with the S&P 500 Index (SPX) pacing for a monthly gain of 2.4%. However, several stocks could underperform next month, if history is any indicator. While this FAANG stock tends to shine in August, fellow blue chip Exxon Mobil Corporation (NYSE:XOM) could slump -- especially if the o...Read More
The stock is headed toward its worst day in yearsCapital One Financial Corp. (NYSE:COF) stock is spiraling today, down 7% at $90.13 -- set for its worst day since July 2015 -- after the financial firm said it was hacked. Personal data from roughly 100 million customers in the U.S. and Canada was compromised in the security breach, including around 140,000 Social Security numbers and 80,000 linked...Read More
Our Adaptive Dynamic Learning (ADL)predictive modeling system is predicting that Crude Oil will break recentsupport levels near $55 and move very quickly down to levels near $50 to $51 beforeAugust 2nd, 2019. The move tonear the $50 price level is likely to be a 100% measured Fibonacci priceextension related to the initial downside move from $61 to $55 earlier in July2019.After this new down...Read More
Stewart Thomson, Graceland Updates 1. Is gold finally due to swoon or can it continue to rally?2. The naysayers point to overbought conditions on the weekly charts, COT reports showing a mammoth short position held by the commercial traders, and the upcoming stock market "crash season".3. The bulls point to a peaking US business cycle, inflationary and growth-destr...Read More
By: Ira EpsteinWeekly gold charts shows a bullish bias, but daily chart shows a different picture:Read More
The firm posted second-quarter earnings and revenue that exceeded expectationsThe shares of pharmaceutical concern Merck & Co, Inc. (NYSE:MRK) are higher today, following a second-quarter earnings and revenue beat from the company. The Dow component cited strong sales of its lung cancer treatment Keytruda, and high demand for vaccines. As such, Merck upped its 2019 earnings forecast, too. In respo...Read More
Fiat Chrysler scrapped a merger with Renault earlier this summerThe shares of Fiat Chrysler Automobiles NV (NYSE:FCAU) are reeling this morning, down 4.8% to trade at $12.98, one of the worst stocks on the New York Stock Exchange (NYSE). The drop comes after fellow European carmaker Renault slashed its revenue goal for 2019, citing weakening auto demand and the fallout of Carlos Ghosn's arrest...Read More
Valeritas' h-Patch technology seemed to be effective in administering CBDOne stock making a notable move this morning is Valeritas Holdings Inc (NASDAQ:VLRX), which is gaining 13.2% to trade at $2.83, thanks to news the company used its proprietary h-Patch technology to effectively deliver cannabidiol (CBD) subcutaneously. The news could help VLRX shares gain some attention on Wall Street, where r...Read More
(Adds German inflation data, analyst) * German inflation hits lowest since November 2016 * French GDP growth slows unexpectedly in second quarter * German consumer morale adds to bleak growth outlook * EZ sentiment hits lowest in more than three years * Read-out gives weight to calls for more stimulusBy Leigh Thomas and Michael NienaberPARIS/BERLIN, July 30 (Reuters) - A series of weak economicdat...Read More
Last Friday, July 26, 2019 - the spot gold price got what should be the opposite of a “Friday News Dump” using a longer gold price history perspective.Effectively the significant bank power of Europe (ECB) and 21 other national central banks publically agreed that no gold bullion sale coordination is needed this September 2019 and after.These +20 central 'gold holding' banks likely agr...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up we continue our discussion on the importance of sound money -- and we are going to check in on the progress at both the state and federal levels. Jp Cortez of the Sound Money Defense League joins me to update us about sound money bills across the nation and also shares his group’s sound money scorecard -- reve...Read More