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Continue reading >>The stock market rebounded on Friday with the gains nearly giving the bulls the weekly win. However, the bears did just enough damage throughout the week to get their first overall victory in five weeks. The rally was enough to lift the small-caps to a weekly gain with the S&P 500 setting a fresh all-time intraday peak in the process. Volatility also settled lower and below a key level of...
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Continue reading >>The stock market erased opening gains to trade lower on Thursday following news President Biden is set to propose a plan that could nearly double the capital gains taxes on the wealthy. The proposal would boost the rate to 39.6% for individuals earning $1 million or more, an increase from the current rate of 20%.The continued rise in coronavirus cases globally, notably the surge in India, also...
Continue reading >>Keep an eye on Electronic Arts (EA). The stock has become exceptionally oversold after pulling back from $150 to $127.50. From here, we’d like to see it challenge its prior highs, especially with the video game market expected to grow even more this year. Video game spending in the U.S. totaled $56.9 billion for 2020. That was 27% higher year over year, according to NPD. In...
Continue reading >>The stock market rebounded on Wednesday despite opening weakness and a major revenue miss from Netflix (NFLX). Specifically, the company reported a profit of $3.16 versus forecasts for a print of $2.68 but revenues of $7.3 billion fell shy of forecasts for nearly $7.4 billion.Additionally, Netflix reported first-quarter subscriber growth that sharply missed expectations. Despite the news, the...
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