There were lower-than-normal trading volumes across Wall Street this week due to Thanksgiving, but stocks pushed to record highs nonetheless. Many of the gains came on Tuesday, when the Dow Jones Industrial Average (DJIA), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) all soared to record highs thanks to a strong round of corporate earnings. The Dow is now set to avoid a rare third-straight wee...Read More
U.S. stocks are trading higher after yesterday's holiday break, with retail stocks being the main focus of the market. Three stocks making moves today are drug concern Teva Pharmaceutical Industries Ltd (NYSE:TEVA), "Russian Google" Yandex N.V. (NASDAQ:YNDX), and biopharmaceutical concern Nektar Therapeutics (NASDAQ:NKTR). Here's a closer look at what's moving shares of TEVA, YNDX, and NKTR.TEVA...Read More
Dow Jones Industrial Average (DJIA) futures are pointed higher this morning, after settling modestly lowerin a low-volume session on Wednesday. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also trading above fair value, with all three benchmarks on track to post weekly wins. Retail stocks are in focus on this shortened trading day, as the holiday shopping frenzy engulfs investors. R...Read More
Analysts are weighing in on farming machinery concern Deere & Company (NYSE:DE), healthcare stock Quest Diagnostics Inc (NYSE:DGX), and oil shipping expert Frontline Ltd. (NYSE:FRO). Here's what's moving shares of DE, DGX, and FRO. Deere Stock Gets Post-Earnings UpgradeDeutsche Bank this morning upgraded Deere stock to "buy" from "hold," and raised its price target to $167 from $149. The move com...Read More
The following is a reprint of the market commentary from the December 2017 edition of The Option Advisor, published on November 17. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.By now, just about every major financial media outlet has published an article questioning how much longer General Electric (GE) can c...Read More
Wilshire 5000 divided by US GDPSource: Thomson Reuters Datastream; BMG Group Inc.Read More
The Federal Reserve has become an increasingly powerful force in the stock market, as our Senior V.P. of Research Todd Salamone has documented in his weekly Monday Morning Outlook column. With another Fed policy decision approaching in December, along with a changing of the guard at the central bank, now is a good time to review some Fed basics.What is the Fed?The Federal Reserve is the U.S. centr...Read More
There's a trendline battle shaping up on a daily chart of the Direxion Daily Gold Miners Bear 3X Shares (DUST) -- an exchange-traded fund (ETF) meant to deliver a triple-leveraged inverse return of a basket of gold mining stocks. While the descending 160-day moving average has kept a tight lid on all rally attempts since early May, DUST has recently established a credible foothold above its rising...Read More
The Federal Reserve will be in focus next week, with an onslaught of central bank officials slated to speak in the lead-up to the mid-December Federal Open Market Committee (FOMC) meeting. With expectations running high that the Fed will pull the trigger on a December rate hike, the preliminary reading on third-quarter gross domestic product (GPD) should draw its fair share of Wall Street's attent...Read More
The comments above & below is an edited and abridged synopsis of an article by Bill BlainThe ever-rising global stock markets don't matter; the truth is in bond markets. That's where the dam will break. The bond markets are the bubble to watch, starting with high yield.It wasn't just banks that benefited from too-big-to-fail; most collateralized loan obligations (CLOs) did, too. The 2008 global fi...Read More
The comments above & below is an edited and abridged synopsis of an article by Olivier GarretHaving seen the astounding rise in Bitcoin's value, those who remained on the sidelines are now kicking themselves for not buying it when it was first released. Surely they'd be millionaires by now.But is the meteoric rise of Bitcoin and other cryptocurrencies really an indication of true value?It seems th...Read More
The comments above & below is an edited and abridged synopsis of an article by Jeff ClarkWhen the economy skids into a recession most investors end up riding shotgun right along with it, and that means big losses for stock portfolios.Cycling through ups and downs, the economy overheats and growth slows, which affects company earnings and pushes stocks down.An allocation to bonds hardly makes up fo...Read More
The comments above & below is an edited and abridged synopsis of an article by Egon von GreyerzThe concentration of global wealth has reached dangerous proportions. The world's three richest people have a greater wealth than the bottom 50%. The top 1% has $33 trillion; the bottom 1% has debt of $196 billion.The interesting point is not just that the rich are getting richer and the poor poorer, but...Read More
The comments above & below is an edited and abridged synopsis of an article by M.N. GordonAs more money is issued relative to the output of goods and services in an economy, it is watered down and loses value. Price inflation is not rising prices; it's the loss of purchasing power resulting from an inflating money supply.In its October Consumer Price Index Report, the Bureau of Labor Statistics sa...Read More
It was a choppy, low-volume session on Wall Street, with traders carefully eyeing the November Fed minutes. While the policy-setting Federal Open Market Committee (FOMC) was upbeat on employment and the economy, some members are concerned that "elevated asset valuations" could lead to a sharp reversal in asset prices -- with potentially "damaging effects" on the economy. Against this backdrop, the...Read More
U.S. stocks are mixed ahead of the Thanksgiving holiday, though the Nasdaq Composite (IXIC) carved out a new high earlier. Among those making the biggest moves are online vehicle auction services provider Copart, Inc. (NASDAQ:CPRT), bitcoin biochain expert Riot Blockchain Inc (NASDAQ:RIOT), and Roomba maker iRobot Corporation (NASDAQ:IRBT). Here's a quick look at what's moving shares of CPRT, RI...Read More
Earlier today, Square Inc (NYSE:SQ) stock hit a new record of $49.55 -- marking its 10th consecutive session of all-time highs, fueled in large part by optimism over the mobile payment company's recent move to allow its customers to buy and sell bitcoin. However, SQ has since reversed course to trade down 1.7% at $47.24, on pace for its first daily loss in over a week.Meanwhile, the recent crop of...Read More
Oil prices have been climbing amid increased expectations members of the Organization of Petroleum Exporting Countries (OPEC) and non-cartel members will extend their production cut agreement at next week's meeting. This positive price action is continuing today, with January-dated crude futures up 1.9% at $57.88 per barrel, after data showed a surprise decline in domestic crude supplies. As such,...Read More
Stocks are bouncing around breakeven today, as trading volumes remain muted before the Thanksgiving holiday tomorrow. However, the Nasdaq Composite (IXIC) managed to touch a fresh record high in early action. And while the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) trade in a tight range, many investors will likely stay glued to the market to see this afternoon's release of the Fe...Read More
The Consumer Discretionary Select Sector SPDR Fund (XLY) -- whose top holdings include FAANG stocks Amazon (AMZN) and Netflix (NFLX) -- has been roaring higher, as solid earnings and an ongoing tech rally help boost the sector. Earlier today, XLY shares hit a record high of $94.55, but options traders think there's even more upside on the horizon.At last check, roughly 3,600 calls had traded on XL...Read More