From Investopedia:“Correlation is a statistic that measures the degree to which two variables move in relation to each other. Correlation measures association, but doesn’t show if x causes y or vice versa, or if the association is caused by a third–perhaps unseen–factor.”In order for correlation to exist, there must be fundamentals that directly connect the two items...Read More
Precious metals are loving the uncertainty the coronavirus hascreated. Despite limited successessome countries have had with reopening, the virus is nowhere near contained. Asof this writing, close to 6 million worldwide are infected and 365,328 havedied. The important columns in the table below from the heavily visited Worldometer's coronavirus page, are the yellow andred. The United S...Read More
From Investopedia:“Correlation is a statistic that measures the degree to which two variables move in relation to each other. Correlation measures association, but doesn’t show if x causes y or vice versa, or if the association is caused by a third–perhaps unseen–factor.”In order for correlation to exist, there must be fundamentals that directly connect the two items...Read More
Ricky Wen, ElliottWaveTrader Monday's session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In addition, as you may be aware by now, the average range per day has been narrowing for the past few weeks due to this methodical grind...Read More
By: Ira EpsteinGold is back and forth short-term, does not have a trend at the moment. Caught in the volatility bands..Read More
Gold and silver will remain firm on developments in USA. Copper is on the verge of a big technical breakout. Crude oil is bullish. OPEC has decided to continue with production cuts. If India had faced a similar mass arson then global leaders would have condemned India with "secularism is at risk" slogan. The arsonists would have been divided between religion, caste and creed. USA's NATO allies a...Read More
Continued protests and the civil unrest that comes with them do little to deter investorsCivil unrest around the U.S. didn't hinder a rise in markets, with the Dow managing to tack on 267 points as investors eyed a reopening economy over protests. Meanwhile, the S&P 500 barely inched its way into positive territory, mostly in part to a lift in bank stocks, while the Nasdaq also struggled to mark a...Read More
Call volume is surging in the options pitsThe shares of online pet store Chewy Inc (NYSE:CHWY) are seeing a surge in call volume today, with 48,000 contracts traded compared to just 6,000 puts. Most popular is the weekly 6/5 50-strike call, where new positions are being opened. Second is the 45-strike call in the same session, which also happens to be the sixth most popular open interest positio...Read More
Planet Fitness reopened around 800 facilities in North AmericaThe shares of Planet Fitness Inc (NYSE:PLNT) are soaring today, up 7.6% at $72.66 at last check, after the fitness center franchise reported about 60% of its customers returned amid the reopening of around 800 gyms across the U.S. and Canada in the last week. Furthermore, the company also reported that memberships remain stable in gym...Read More
The Dow and S&P are higher midday, while the Nasdaq has taken a breather The Dow Jones Industrial Average (DJI) is trading up around triple-digits this afternoon, with stocks tied to the reopening U.S. economy leading the charge. The S&P 500 Index (SPX) is hovering at breakevenby midday, while a lackluster day for the tech sector has the Nasdaq Composite (IXIC) paring some of its earlier gains....Read More
Starbucks asked employees to further limit working hours or take unpaid leaveThe shares of Starbucks Corporation (NASDAQ: SBUX) are down 0.8% at $77.68 this morning, after the company asked employees to further limit their hours or take unpaid leave until September. Though the popular coffee chain has regained nearly two-thirds of its comparable U.S. sales from the past year as it reopens stores,...Read More
Western Union has offered MoneyGram a takeover offerOne of the best stocks on the Nasdaq so far today is MoneyGram International Inc (NASDAQ:MGI), up 32.4% at $3.43 at last check. The big move from the penny stock comes after Bloomberg News reported on a possible takeover offer from money transfer rival Western Union (WU). Following the news, BTIG chimed in that the combination would be subject t...Read More
Dick's Sporting Goods first-quarter losses and revenue were well below Wall Street's estimatesSports retailer Dick's Sporting Goods (NYSE:DKS) entered the earnings confessional this morning, reporting first-quarter losses and revenue that came in lower than analysts' estimates. Same-store sales missed estimates as well, falling nearly 30%, though its e-commerce sales more than tripled. As a resul...Read More
Several analysts are issuing bull notes to Slack stock todaySeveral analysts are raving about work-from-home staple Slack Technologies Inc (NYSE:WORK) this morning, including Cowen, which initiated coverage with an "outperform" rating and a $45 price target. The brokerage noted the recent shift to permanent remote work, sparked by stay-at-home orders, has given Slack the opportunity to accelerat...Read More
ADM is well overdue for a round of downgradesLast week, at Schaeffer's we dove into how the S&P 500 Index (SPX) is behaving during the current market turmoil, specifically exploring what, if anything, we could expect going forward. The analysis used an oscillator index called the Choppiness Index, and showed how the S&P 500 has performed based on specific key levels, including various spikes and b...Read More
Civil unrest has overshadowed the coronavirus and China tensionsDow Jones Industrial Average (DJI) futures are up around 150 points above fair value this morning, despite dipping overnight in the wake of U.S. President Donald Trump's statement that he will deploy the military if protests aroundthe country continue. As investors focus on states easing lockdowns, futures on the S&P 500 Index (SPX)...Read More
*This interview was recorded on 5/28/20Grant's Interest Rate Observer Founder and Editor James Grant and CNBC's Rick Santelli discuss the consequences of unprecedented policy.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: T...Read More
During this 120+ minute interview, Jason and George discuss the moral hazard the Fed has created and how any type of deflation, especially in asset prices, seems to no longer be allowed.George has some very interesting insights he shares about the global macro situation, inflation, the Fed and gold.To wrap up the interview, Jason asks George what lessons he has learned from interviewing so many su...Read More
Jordan discusses Silver, fundamentals, key levels, potential targets and upside potential.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service f...Read More
In a Wedensday manuscript detailing how high-risk COVID-19 patients should be treated, Risch notes that the combination of hydroxychloroquine (HCQ) and the antibioticContinue...Read More