Good MorningWhat began as a mild pull-back in prices Thursday morning gained momentum throughout the day to shave more than 5.0% off the broad market. Thursday’s action is the worst day the market has seen in nearly three months and may be an indication of more losses to come. The move was sparked by fear the economic reopening will be marred by rising COVID counts that could lead to another shutdown.
While Thursday’s action is bearish, investors are warned not to read too much into the sell-off. This week is triple-witching options expiration which is enough by itself to have caused the selling. On a technical basis, the S&P 500 was able to hold the 30-day moving average which often acts as a near-term support level. The risk now is that support won’t hold, if not the S&P 500 could slip to 2,800 or lower over the next few weeks. Featured: America's richest man orders 100,000 units of game-changing new technology (Empire Financial Research) 
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Shares of FuelCell Energy (NASDAQ:FCEL) stock are moving higher yet again. At the opening of trading on June 12, FCEL stock is up over 25%. The catalyst is an earnings report in which the alternative fuel provider beat on both the top and bottom lines. The stock is now making a run at its 52-week ... Read the Full Story |
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Markets | | | This Melt-Up Has Legs
The stock market, despite a widespread and possibly worsening global recession, has been chugging steadily higher for weeks. If you are still wondering why it is because the market is melting up.
In its classic sense, a stock market melt-up is when the market is faced with a ... Read the Full Story |
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When it comes to finding companies to invest in that provide essential goods and services, you can’t go wrong with consumer staples. These companies produce the kinds of products that people buy on a consistent basis regardless of what the economy is doing. Since the demand for their product... Read the Full Story |
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Markets | | | Restaurant gaming operator Dave and Busters (NASDAQ: PLAY) shares have quadrupled since its pandemic lows of $4.61 in March 2020. With all 137 locations shut down from the stay-in-shelter mandates since Mar. 20th, revenues have been frozen heading into the Q1 2020 earnings release. Due out Jun. 11, ... Read the Full Story |
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Markets | | | Shares of data analytics platform Cloudera (NASDAQ: CLDR) got pummeled after reporting a (not so) surprising Q1 Fiscal Year 2021 earnings beat on June 3rd. The sell-the-news reaction underscores the recent market earnings reaction template. Stocks that rise sharply heading into an earnings release u... Read the Full Story |
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