This was the summer investors fell hard for risk — at first reluctantly, having just been dumped over the winter, and now avidly. The embrace of stocks by those willing to take the chance in the spring has been blissful: The S&P 500 has gained 60% from the March 23 low and 13% since June 30, while rising the past seven days in a row and every day in August but four. Up more than 7% this...
Continue reading >>The market ended the week higher as optimism about a fast-response coronavirus test and confirmation of the Federal Reserve’s new inflation strategy bolstered ongoing bullish sentiment. A bevy of economic news also lifted spirits with the Nasdaq and S&P setting their 40th and 20th record closes for 2020. The Russell 2000 closed on its session high of 1,578 (+0.9%). Key resistance at 1,575...
Continue reading >>Walmart and Microsoft might seem like an unlikely partnership to acquire TikTok’s U.S. assets, but until very recently the retailer had other plans. Before teaming up with Microsoft in recent days, Walmart was part of a consortium put together by SoftBank Chief Operating Officer Marcelo Claure, which also included Google parent company Alphabet, according to people familiar with the...
Continue reading >>The market showed overall strength for the 5th-straight session on Wednesday, powered by shares of technology and e-commerce shares. News of progress on corona virus vaccine trials and expectations for the Federal Reserve to signal it will keep monetary policy easy in a speech by Chairman Jerome Powell on Thursday also helped sentiment.The Nasdaq closed at 11,665 (+1.7%) after tagging a fresh...
Continue reading >>Gold prices last traded at $2,043 – and could head to $2,500, we believe. All thanks to fallout from the coronavirus, economic fears, tensions with China, central banks pumping liquidity into markets, and fear ahead of U.S. elections. Worse, the International Monetary Fund estimates the global economy could shrink by up to 5% this year, prompting central banks to pump billions into the...
Continue reading >>The market showed overall strength for the 5th-straight session on Wednesday, powered by shares of technology and e-commerce shares. News of progress on corona virus vaccine trials and expectations for the Federal Reserve to signal it will keep monetary policy easy in a speech by Chairman Jerome Powell on Thursday also helped sentiment.The Nasdaq closed at 11,665 (+1.7%) after tagging a fresh...
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