Bank stocks are getting ready to rally, after the U.S. Senate passed the Republican tax plan over the weekend. Shares of Bank of America Corp (NYSE:BAC), for instance, are up 2.5% in electronic trading -- on track to open at their highest mark since October 2008 -- as the business-friendly piece of legislation now heads to reconciliation between the House and Senate. Today's projected price move i...Read More
U.S. stocks are set to rally today, after Senate Republicansmanaged to push through a tax reform bill over the weekend. In fact, Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) futures are signaling all-time highs, as the Michael Flynn saga from last week is pushed to the back burner for the time being. One group to watch is bank stocks, with Dow components Goldman Sachs (GS) and JPMor...Read More
"The near-term risk to bulls is the move through the respective SPX and RUT century marks proving to be only temporary, as selling accompanied the RUT's last move through 1,500 in October, and there was a notable hesitation at SPX 2,600 during last Tuesday and Wednesday's trading."...The Nasdaq Composite (IXIC) continues to maintain a dominant leadership role, despite being in an 'overbought' cond...Read More
The Dow Jones Industrial Average (DJIA) was on track for another big win today, until the Michael Flynn news broke, sending the blue-chip index cratering by more than 350 points at its intraday low. The bombshell political news overshadowed cautious optimism over Senate Republican leader Mitch McConnell's belief that the GOP tax bill "has the votes." Stocks closed well off their session lows, tho...Read More
The SPDR Gold Shares (GLD) hit its intraday high of $122.43 at midday, around the same time the stock market was panning its session lows on news Michael Flynn could testify against President Donald Trump in a possible Russian collusion investigation, after the former national security advisor pleaded guilty to lying to the FBI. While the shares have since pared these gains to 0.4% to trade at $12...Read More
Reports that former national security advisor Michael Flynn is prepared to testify against President Trump sent shockwaves through the U.S. stock market, with the Dow flirting with at 350-point drop at its intraday low. What's more, the reports -- which suggest Flynn will confirm Trump told him to make contact with Russian officials -- sent the ruble dropping against the U.S. dollar, and has optio...Read More
Stocks are falling today amid reports that former national security advisor Michael Flynn could testify against President Trump. Among the names making big moves are healthcare stock Foundation Medicine Inc (NASDAQ:FMI), forex concern Gain Capital Holdings Inc (NYSE:GCAP), and pharmaceutical issue Mylan (NASDAQ:MYL). Here's a quick look at what's moving shares of FMI, GCAP, and MYL. FMI Stock Hits...Read More
U.S. stocks turned sharply lower at midday, as reports hit that former national security advisor Michael Flynn pleaded guilty over lying to the FBI, and agreed to cooperate with a special counsel investigation into possible Russian collusion in the 2016 U.S. presidential election. The quick decline in stocks sent the CBOE Volatility Index (VIX) -- or market's "fear gauge" to its highest point sinc...Read More
It was an interesting week on Wall Street, with all three indexes notching record highs, though the tech-rich Nasdaq Composite (IXIC) underperformed. Solid holiday shopping data lifted stocks early in the week, as did growing expectations for a Senate vote on tax reform. However, reports on Friday that former national security advisor Michael Flynn could testify against President Trump took some o...Read More
U.S. stocks have plummeted amid reports that former national security advisor Michael Flynn could testify against President Trump. The Dow Jones Industrial Average (DJIA) was down more than 350 points at its intraday low, after sources told ABCthat Flynnwill acknowledge Trump ordered him to initiate contact with Russians. Flynn today pleaded guilty to lying to the FBI, becoming the first of Trump...Read More
Netflix, Inc. (NASDAQ:NFLX) topped out at a record high of $204.38 on Oct. 17. Since then the streaming name has been stair-stepping lower. After suffering its worst one-day drop in a year on Wednesday during the broader tech selloff, NFLX came face-to-face with its 80-day moving average. Similar to one of its fellow FAANG stocks, this trendline has had historically bullish implications for Netfli...Read More
Hospital operator HCA Healthcare Inc (NYSE:HCA) has overcome previous resistance in the $80-$82 region, taking back the 200-day moving average in the process, after J.P. Morgan Securities yesterday issued an extremely bullish note. Analysts there upgraded HCA stock to "overweight" from "neutral," upping their price target to $96 from $75, saying the passage of Republicans' tax proposal would "disp...Read More
The Dow Jones Industrial Average (DJIA) yesterday wrapped up November with a healthy 3.8% gain, marking the eighth straight monthly win for the blue-chip index. In fact, the Dow is in the throes of its longest monthly winning streak in 22 years. Below, we take a look at how the DJIA tends to perform after these extremely rare rallies, and what history could tell us about the stock market in 2018.T...Read More
Shares of meal delivery specialist Blue Apron Holdings Inc (NYSE:APRN) are up 4.9% this morning at $3.13, after the company's co-founder Matt Salzberg yesterday stepped down as CEO -- though he'll stay on as executive chairman -- which follows co-founder Matthew Wadiak's departure as chief operating officer last July. Salzberg will be replaced by Chief Financial Officer Brad Dickerson. This news c...Read More
One stock on the move today is CME Group Inc (NASDAQ:CME), after the exchange operator said it will launch bitcoin futures beginning on Monday, Dec. 18. This much-anticipated development paves the way for bitcoin ETFs and other cryptocurrency derivatives.CME stock is up 1.2% at $151.27 in morning trading, and earlier set an all-time high of $152.14. CME is now up more than 31% on the year, and ha...Read More
Last night, VMware, Inc. (NYSE:VMW) reported third-quarter adjusted earnings of $1.34 per share on $1.98 billion in revenue. This came in above the consensus forecast for a per-share profit of $1.27 on $1.96 billion in revenue. The virtualization firm also said licensing revenue came in at a stronger-than-expected $785 million.The results were met with an onslaught of upbeat analyst attention. BMO...Read More
FedEx Corporation (NYSE:FDX) has been a solid performer in 2017. Analysts are starting to take notice too, with the global delivery service stock subject to upbeat analyst attention today. Here's a quick look at FDX stock, and how options traders are playing the equity.Earlier today, FDX received a price-target hike to $265 from $245 at BMO. Echoing this sentiment, analysts at Barclays see "plen...Read More
U.S. stock futures are signaling a mixed open, as investors consider the chances of a Senate vote on tax reform today. Buzz surroundingRepublicans' tax proposal sent the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) to record highs yesterday, but Senate Majority Leader Mitch McConnell postponed a vote on the measure. The economic schedule will also draw attention, since it features a...Read More
Bank stocks helped boost the Dow Jones Industrial Average (DJIA) to another big win today -- and past 24,000 -- after Republican Senator John McCain of Arizona signaled his support for the GOP tax plan. While Goldman Sachs (GS) was near the top of the Dow, big-cap oil stocks Chevron (CVX) and Exxon Mobil (XOM) weren't far behind, as energy shares got a lift on news the Organization of the Petroleu...Read More
Earlier this week, we highlighted the 25 worst stocks in December, looking at data from the last 10 years. While some stocks on that list may be targeted by short sellers looking for history to repeat,there are obvious downsides to selling a stock short. Namely, you have to borrow shares from a broker. However, a synthetic short options strategy allows you to simulate the risk/reward of an actual...Read More