Short-term SKX volatility expectations are soaringSkechers USA Inc (NYSE:SKX) stock is hot today, with some pointing to buzz surrounding a potential takeover of the footwear firm by North Face parent VF Corp (VFC). Whatever the reason, SKX shares were last seen up 5.8% to trade at $26.81, and options traders are in overdrive.Most recently, around 36,000 calls and 10,100 puts had changed hands on S...Read More
Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. "The dovish U.S. Federal Reserve has been supporting the market," with some officials at the central bank suggesting a cautious approach to future interest-rate hikes, analysts at ICICI Bank wrote in a daily note. "This...Read More
The blue chip is pulling back to a historically friendly trendlineThe shares of Merck & Co Inc (NYSE:MRK) just logged an 18-year high of $80.19 in early December, but have since taken a breather to consolidate around the $75 area. What's more, the healthcare concern just pulled back to a key trendline -- a signal that, if past is precedent, might send MRK on its next leg higher. Specifically, the...Read More
The number of Americans filing applications for jobless benefits unexpectedly fell last week.The data pointed to sustained labor market strength that should continue to underpin the economy.Initial claims for state unemployment benefits decreased to 213,000 for the week ended Jan. 12, the Labor Department said.Published 11 Hours AgoUpdated11 Hours AgoReuters show chapters Initial jobless claims...Read More
The short holiday week tends to be a sluggish one for the S&P 500This year marks the 21st that the U.S. stock market will be closed in observance of Martin Luther King Jr. Day, which means we now have a round 20 years' worth of historical data to draw from in analyzing the impact, if any, this mid-January holiday has on investors. We've already shared what have historically been the best and worst...Read More
Getty ImagesNew factory orders hit a six-month high in January, the Philly Fed said. The numbers: The Philadelphia Fed manufacturing index rose to a seasonally adjusted reading of 17 from a two-year low of 9.1 in the prior month. Any reading above zero indicates improving conditions. Economists polled by EconoDay expected a 10 reading. What happened: Below the headline, the new orders index rose...Read More
Kirk Woodman, vice-president of exploration for Vancouver-based private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier by as-yet unidentified individuals.According to a statement by Burkina Faso minister of foreign affairs Alpha Barry, Woodman was kidnapped near the village of Tiabangou at the Bira Trend exploration site...Read More
Morgan Stanley's earnings misstep weighed on stocks early onThe Dow Jones Industrial Average (DJI) hasn't recovered from this morning's Morgan Stanley (MS) earnings disappointment, but has pared its loss to just over 20 points at midday.Anxieties over China's economy and U.S.-China trade relations also weighed on stocks early on.The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have both tur...Read More
VFC will report earnings before the open tomorrowEarnings season is hitting high gear, and one of the first retail names due up is VF Corp (NYSE:VFC), scheduled to report its fiscal third-quarter earnings before the open tomorrow, Jan. 18. VFC is known for making volatile moves after its quarterly reports, and the options market is expecting more of the same in Friday's session.Specifically, Trad...Read More
The oil stock was heavily shorted at the end of 2018Subscribers to our Schaeffer's Weekly Options Trader service recently won big with the Continental Resources, Inc. (NYSE:CLR) weekly 1/11 37-strike calls. Here's a quick look at what initially drew us to CLR, and how the successful bullish options trade unfolded.When we recommended the call on Thursday, Dec. 27, the energy stock was fresh off a s...Read More
Mizuho is bullish on this company's exposure to 5GNomura Instinet upgraded NXP Semiconductors NV (NASDAQ:NXPI) to "buy" from "neutral," and maintained its $95 price target -- a 21.3% premium to last night's close at $78.34. The analyst in coverage said valuation is appealing after the chip stock's recent sell-off, and traders are "underappreciating an attractive end-market mix." Likewise, CrispIde...Read More
USDCHF, "US Dollar vs Swiss Franc" As we can see in the H4 chart, USDCHF is consolidating. In this case, the price is expected to rebound from the 5/8 level and fall towards the support at the 3/8 one. Risk Warning: the result of previous trading operations do not guarantee the same results in the future The lines in the H4 and H1 charts are completely the same and confirm the scenario...Read More
Put buying on SIG surged in recent weeksSignet Jewelers Ltd. (NYSE:SIG) is one of the biggest losers on Wall Street this morning. The stock was last seen trading down 23.2% at $25.63 -- fresh off a nine-year low of $25.51 -- after the company cut its fourth-quarter and full-year forecasts due to a weak holiday season. One reason given for the poor performance was a sharp drop in traffic at brick-a...Read More
These S&P stocks tend to stand out in the short holiday weekNext week will be a short one for traders, as U.S. equity markets will be closed on Monday, Jan. 21, in honor of Martin Luther King Jr. Day. The federal holiday is observed on the third Monday of each calendar year -- to roughly coincide with the late Dr. King's birth date of Jan. 15 -- and 2019 will mark the 21st year that the stock mark...Read More
The shares are set for their best day in monthsThe shares of Adamis Pharmaceuticals Corp (NASDAQ:ADMP) have added 11.2% to trade at $2.92 in early market trading, on the U.S. launch of the company's allergy treatment, Symjepi. The drug -- launched by commercial partner Sandoz -- will directly compete with pharma company Mylan's (MYL) popular EpiPen. The jump has ADMP stock pacing for its third str...Read More
Gold mining veteran Rob McEwen is nothing if not optimistic.The founder of Goldcorp Inc. is sticking with his bold prediction that the precious metal will soar almost fourfold to $5,000 an ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks."Once people get over buying cryptos and biotech and cannabis stocks they're going to start looking at gold again," the chi...Read More
Netflix will report earnings after the closeDow Jones Industrial Average (DJI) futures are trading below fair value this morning, as attention stays on fourth-quarter earnings season. Traders are digesting Morgan Stanley's (MS) quarterly report, though the shares are set for sharp losses at the open. Later on, after the closing bell, Netflix (NFLX) earnings will be the major story, with blue chip...Read More
AKS options traders have heavily favored putsThe shares of AK Steel Holding Corporation (NYSE:AKS) aredown 1.9% in electronic trading, after Clarksons Platou Securities downgraded the steel name to "neutral" from "buy," and trimmed its price target to $3 from $5.10. Earlier this week, Goldman Sachs gave AKS a price-target cut to $2.5 from $4, while noting the initial investor excitement around t...Read More
• The precious metal struggled to build on the overnight positive momentum and was again seen retreating from the top end of a near one-week-old trading range. • The recent price-action constituted towards the formation of a rectangle, usually seen as continuation pattern but sometimes mark significant trend tops/bottoms. •&nb...Read More
(Recasts ahead of U.S. trading, updates prices throughout) * European car shares fall on U.S. tariff worries * Beijing injects masses of cash into financial system * Huawei subject of U.S., German displeasure* Pound supported as May wins confidence vote * Graphic: World FX rates in 2019* Asian stock markets: By Marc JonesLONDON, Jan 17 (Reuters) - Concern over China's economicoutlook and possible...Read More