The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs. When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds. So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy. Over the last several decade...Read More
RambusFrom the March 23rd low in the PM complex we've enjoyed the first easy part of this rally that should have many years to run yet. Every bull market will consist of an impulse move followed by a consolidation period, rinse and repeat until the bull market ends with some type of reversal pattern. Normally in a secular bull market the turning points will generally be very large to buildup the...Read More
By: Ira EpsteinGold still not in a new trend short-term, higher high and lower low. If sell-off continues, the 100 DMA is near $1,655:Read More
Big tech companies led the declines todayIn a sharp turn from an optimistic start to June, Wall Street's disappointment with jobs data took its toll, sending stocks mostly lower to close out the day, snapping a four-day win streak for the Nasdaq and for the S&P 500. The Dow barely scraped together an 11-point gain, while the SPX and Nasdaq dropped off, as shares from FAANG stocks Facebook (FB), A...Read More
SPX's standard deviation is usually slimmer-than-usual after major protestsAlthough it may not be as conspicuous on Wall Street, Main Street has been gripped by the protests and civil unrest overthe death of George Floyd. All 50 states have engaged in protests against police brutality and systemic racism since late May, and the tensions have been exacerbated by U.S. President Donald Trump's thre...Read More
Deutsche Bank raised its price target to $57 from $28The shares of casino stock Eldorado Resorts Inc (NASDAQ:ERI) are up 8% at $41.98, after receiving a price-target hike from Deutsche Bank to $57 from $28. The firm said though that many investors believe the sector could be in for a rough patch, due to social distancing and the long-term economic effects of coronavirus, it sees "new margin peaks...Read More
J M Smucker's fourth-quarter profits and revenue were better than Wall Street expectedThe shares of J M Smucker Co (NYSE:SJM) are down 4.2%, last seen trading at $109.09, despite the food and beverage manufacturer reporting fiscal fourth-quarter profits of $2.57 on revenue of $2.09 billion. Both top-line results were higher than analysts' estimates, thanks to increased consumer demand resulting...Read More
Implied volatility on FDX options is at historically low levelsShipping giant FedEx Corporation (NYSE:FDX) is in the news today, after announcing it was tacking on delivery fees to U.S. shipments. The move represents an effort to combat lagging business amid the coronavirus pandemic and subsequent shutdown of the economy. At last check, FDX is down 1% to trade at $136.61, but the trouble could jus...Read More
REGN is up 106.5% in the last nine months, but already down nearly 2% in JuneOver the past two weeks, we've been exploring some of the best S&P 500 stocks to own in June, historically. Now, with help from Schaeffer's Senior Quantitative Analyst Rocky White, we'll shift gears and focus on 25 of the worst performers this month, looking back over the past 10 years. One notable name on the list is Reg...Read More
The Dow is trading just below breakeven at middayStocks are struggling for direction at midday, with the Dow JonesIndustrial Average (DJI), S&P500 Index (SPX), and Nasdaq Composite (IXIC) all sporting shallow losses. The tech-heavy Nasdaq-100 Index earlier hit a new record high and there's optimism following the European Central Bank's historic stimulusprogram, but worse-than-expectedjobless...Read More
Nio stock hit a record high in vehicle deliveries for MayThe shares of Nio Inc (NYSE:NIO) are up 5.2% at $5.89 at last check, following a report on May deliveries and an announcement by chief financial officer Steven Feng that the company expects to achieve its second-quarter delivery goal. The China-based electric vehicle manufacturer delivered 3,436 vehicles in May, a record high, which led to a...Read More
Simon Property Group is suing apparel retailer Gap for overdue rent and other chargesThe shares of Simon Property Group Inc. (NYSE: SPG) are up 2.4% at $74.57 this morning, after the biggest mall owner in the country sued apparel retailer Gap (GPS) for more than $65.9 million in missed rent payments and overdue charges, according to a lawsuit filed Tuesday in Delaware state court. Gap is not the...Read More
Ciena Corporation's second-quarter profits and revenue were better than Wall Street expectedCiena Corporation (NYSE:CIEN) stepped into the earnings confessional this morning, reporting fiscal second-quarter profits of 76 cents on revenue of $894.1 billion, both of which were higher than analysts' estimates. According to a report from AlphaStreet, the network strategy and technology company suspen...Read More
The Fed's latest interest rate decision is due out on WednesdayIt's looking like a relatively quiet week, as far as earnings and economic data go. With earnings season in the rear-view, a few names are still trickling down with quarterly reports, including Stitch Fix (SFIX) and Lululemon Athletica (LULU), as well as jewelry staples Signet Jewelers (SIG) and Tiffany & Co (TIF). Investors will sift...Read More
Meanwhile, the European Central Bank increased its stimulus programAfter the stock market's three-day rally, futures onthe Dow Jones Industrial Average (DJI) are down almost 100 points below fair value this morning. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also drifting lower, after weekly jobless claims came in at 1.9million, surpassing the 1.8 estimates. That makes it now 12...Read More
Here are a Few Takeaways:?EUR? Silver's Silver Lining: Silver is going to outperform its big bro in the coming years. Throughout history, the gold-to-silver ratio has traded at much lower levels. A decrease in the GSR, down to 40 or 50 over the next several years, will juice the cash-flow generation of silver producers.Some targets to consider. In 2011, at the peak of the perceived efficacy of qua...Read More
Bob Moriarty ArchivesJun 4, 2020Gold bullion is having a moment right now. The metal is trading at $1,740 an ounce, seeking to crack its 52-week high of $1,765. The next stop is its all-time high of $1,921, set in September 2011.With global central banks and finance ministers printing trillions of dollars out of thin air, investors are buying gold as a hedge against inevitable inflation and negati...Read More
Daniel R. Amerman While the use of gold to protect against inflation is well known, it has other investment attributes that are potentially even more valuable, and this is particularly true in times of crisis.In this analysis, we will examine the relative performance of gold and stocks (as represented by the S&P 500) between early February and late May, as the coronavirus pandemic and the resul...Read More
RambusFrom the March 23rd low in the PM complex we've enjoyed the first easy part of this rally that should have many years to run yet. Every bull market will consist of an impulse move followed by a consolidation period, rinse and repeat until the bull market ends with some type of reversal pattern. Normally in a secular bull market the turning points will generally be very large to buildup the...Read More
By: Ira EpsteinGold still not in a new trend short-term, higher high and lower low. If sell-off continues, the 100 DMA is near $1,655:Read More