The market traded lower throughout Wednesday’s action following a resurgence in several states concerning coronavirus cases, including Florida and Texas, and could threaten the economy's recovery. The governors of New York, New Jersey and Connecticut told travelers that are arriving from states with high rates of coronavirus to self-quarantine for 14 days.In addition to the troubling...
Continue reading >>The market showed continued strength on Tuesday after White House trade adviser Peter Navarro told Fox News "it's over" in an interview when asked about the China trade agreement. However, following the interview, Navarro said his comments were taken "wildly out of context" while President Donald Trump tweeted that the "China Trade Deal is fully intact."Those reassurances, along with encouraging...
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Continue reading >>The market closed mostly lower on Tuesday as dismal economic news weighed on sentiment. Specifically, Consumer Confidence tanked another -31.9 points to 86.9 in April following March's -13.8 point plunge to 118.8. Forecasts were for a print of 90.As far as 1Q earnings, five of the six companies with the largest market caps in the S&P - Alphabet (GOOGL), Microsoft (MSFT), Facebook (FB), Apple...
Continue reading >>Keep an eye on Carnival (CCL). The stock has been battered by the coronavirus story. However, it’s down too far, too fast, and could soon recover, even though it could see an EPS loss of 55 to 65 cents a share if operations in Asia are suspended through April 2020. “While that has not come to pass and may be averted, the cruise line said there will be a material impact on...
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