Good MorningTraders betting on another major market correction may be disappointed. The market action on Thursday failed to carry through on Wednesday sharp dive and breakthrough support levels. Support, a price point at which investors can be expected to start buying the S&P 500 stocks, is above the 3,000 at the important 30-day moving average. The moving average is a measure of price action over the previous 30-days and represents the sentiment among short-term traders.
Because the moving average is moving higher, the sentiment is said to be bullish. With this in mind, Wednesday’s pullback in prices should be viewed as a buying opportunity. Looking forward, the outlook for economic rebound remains strong despite the growing shadow of COVID-19 resurgence. Investors hoping to avoid volatility in the coming weeks and month are reminded to stay focused on their investment plans and high-quality stocks.
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Darden Restaurants (NYSE:DRI), the owner of Olive Garden, LongHorn Steakhouse, and other popular dining brands, reported better than expected results for the fourth quarter of fiscal 2020.
For the period ended May 31st, sales declined 43% to $1.27 billion and were in-line with the Zacks' consensu... Read the Full Story |
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Markets | | The Facts Are In, This Stock Is Worth The Money
A few days ago IHS Markit (NYSE:INFO) emerged as a quality buy for its value, growth and dividend so it is no surprise to me today the same is true for Factset Research Systems (NYSE:FDS). The fiscal third-quarter results were a mixed bag if you belie... Read the Full Story |
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Shares of Groupon (NASDAQ: GRPN) got pumped up into June 10, 2020. This was the payable date of the 20-for-1 reverse stock split. Shares collapsed promptly from that day forward only to coil into the Q1 2020 earnings and collapse again. Shares collapsed twice on sell-the-news reactions, initially ... Read the Full Story |
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From Our Partners | | Porter Stansberry - who warned readers about Fannie Mae in 2006, called gold in 2008, and predicted COVID-era inflation - believes the U.S. dollar is undergoing its most significant reset since 1974.
In a new documentary, Stansberry connects the tariffs, the Greenland obsession, the $1.4 trillion UAE deal, and disputes with China to what he calls Trump's New Dollar - and explains specific steps investors should take before a critical meeting of world leaders this December. | | Watch the documentary and learn what steps to take now |
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Markets | | Staying a few steps ahead of the latest stock market trends is one of the best ways to improve your profits. For example, being able to identify sectors that are either outperforming the overall market or ready to break out higher can end up paying nicely. One sector in the stock market had a pretty... Read the Full Story |
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Markets | | Restaurants have been among the biggest losers of the coronavirus pandemic. Forced to shudder their doors, the ability to offer curbside pickup and delivery has been a small consolation for many.
But Chipotle (NYSE: CMG) has bucked the trend. The fast-casual restaurant has been resilient in the fac... Read the Full Story |
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From Our Partners | | A 50-year U.S.-Saudi arrangement established under Henry Kissinger - one credited with anchoring the dollar in global trade - is reportedly over. Analyst Garrett Goggin, CFA, CMT believes what follows could be the most significant dollar reset in modern history.
Goggin has recorded an emergency briefing outlining what investors should consider doing now - including one asset he believes is positioned to climb sharply, similar to how it performed during the currency turbulence of the 1970s. | | Watch the briefing now and see which asset Goggin is watching |
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In the last few months, advice from investment companies and brokerage firms and the like on when to “get back in the game” has flown hard and fast. We couldn't go much over a week without someone insisting that now was the time to “buy the dip”. Now, one more voice has kic... Read the Full Story |
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Markets | | Right From The Horses Mouth
I may be showing my age and/or upbringing by using adages like “straight from the horses” mouth but so what? For those in the know, it rings true and is a saying every trader should take to heart. After all, who better to know the fundamental condition of a c... Read the Full Story |
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Markets | | Shares of PVH Corp (NYSE: PVH) has started to retreat on its Q1 2020 earnings miss and rising fears of a second wave of COVID-19 stifling demand for its popular Calvin Klein, IZOD, Geoffrey Beane, Heritage and Tommy Hilfiger brands. The restart narrative is underway with the majority of global regio... Read the Full Story |
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DraftKings (NASDAQ:DKNG), the world's top daily fantasy sports platform, has had little problem navigating the coronavirus pandemic. In fact, its thriving. But with American professional sports benched since early spring, how can this be?
At the onset of the COVID-19 outbreak, the stock's early 2... Read the Full Story |
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Markets | | Beating The Estimates, And The Outlook Is Good
Smith & Wesson (SWBI) just reported a blow-out quarter, literally, and has the stock positioned for longer-term gains. The company's name was recently changed from American Outdoor Brands to Smith & Wesson Brands is the same great firearms comp... Read the Full Story |
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The Early Bird Stock Of The Day Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. It operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company was incorporated in 1967 and is headquartered in Santa Clara, California. | | View Today's Stock Pick |
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