Fed stops big banks from buying back stock, caps dividends. Accenture (NYSE: ACN) Completes Recovery With Strong Earnings. The Gap (NYSE:GPS): Risky Story With Upside.
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The Early Bird Newsletter

Friday, June 26th

S and P pricesDow pricesQQQ prices
Good Morning

Traders 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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Markets

Fed stops big banks from buying back stock, caps dividends

A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered t...

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Markets

Accenture (NYSE: ACN) Completes Recovery With Strong Earnings

It’s taken a little longer than others, but by the time the bell rang to end Thursday’s session, shares of Accenture (NYSE: ACN) had not only reclaimed their pre-coronavirus levels but had closed above them.

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Markets

The Gap (NYSE:GPS): Risky Story With Upside

Sometimes the best stories are the ones you don't see coming. For instance, consider the story that shows it might be a good idea to make an investment in a mall-facing retailer, which as we've seen from several other mall-facing retailers that are currently floundering—like American Eagle O...

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Politics

Rocky business restart and an enticing offer for MLB

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus. ________________________ OUT & ABOUT: Resta...

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Politics

In Wisconsin, Trump boasts of 'aptitude for manufacturing'

Despite enormous economic headwinds and sky-high unemployment numbers, President Donald Trump sought to showcase his record as a job creator during a visit to a shipyard in the battleground state of Wisconsin

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Politics

Dutch minister throws carrier KLM 3.4 billion euro lifeline

The Dutch government announced Friday that it will throw national carrier KLM a 3.4 billion-euro ($3.81 billion) lifeline to help the airline survive the aviation slump caused by the coronavirus pandemic. Finance Minister Wopke Hoekstra said the support package is made up of a 1 billi...

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Tech

Lobbyist Abramoff charged in cryptocurrency fraud case

U.S. officials say Jack Abramoff, a once-powerful lobbyist who spent time in federal prison for fraud and corruption, has been charged in a San Francisco court in an investor fraud case involving cryptocurrency and lobbying disclosure

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Markets

Square (NYSE: SQ) is Set for Huge Growth But Are Shares Too High?

Square (NYSE: SQ) has had extremely high volatility in 2020 - even by pandemic-era standards. Before the pandemic hit, Square looked to be on the verge of all-time highs. But in less than a month, shares of the mobile payment processor went from $87 to $32. Now, just three months later, shares ha...

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Markets

Want Big Gains? It’s Time To Pull The Trigger On Big Lots (NYSE:BIG)

Big Lots Raises Guidance, Shares Surge Big Lots (NYSE:BIG) is and has always been an underappreciated name in the retail space. The company operates as a big-box/consumer discounter and comes with a very strong following. Over the past few years, long before the COVID pandemic or even the Trade War...

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The Early Bird Stock Of The Day

Enterprise Products Partners L.P.

Enterprise Products Partners L.P.

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. The NGL Pipelines & Services segment offers natural gas processing and related NGL marketing services, as well as NGL export docks and related services. It operates approximately 19,200 miles of NGL pipelines; NGL and related product storage facilities; 16 NGL fractionators; and liquefied petroleum gas and ethane export terminals, and related operations. The Crude Oil Pipelines & Services segment operates approximately 5,300 miles of crude oil pipelines; and crude oil storage and marine terminals located in Oklahoma and Texas, as well as a fleet of 360 tractor-trailer tank trucks used to transport crude oil. It also engages in crude oil marketing activities. The Natural Gas Pipelines & Services segment operates approximately 19,700 miles of natural gas pipeline systems to gather and transport natural gas in Colorado, Louisiana, New Mexico, Texas, and Wyoming. It leases underground salt dome natural gas storage facilities in Texas and Louisiana; owns an underground salt dome storage cavern in Texas; and markets natural gas. The Petrochemical & Refined Products Services segment operates propylene fractionation and related activities, including 800 miles of pipelines; butane isomerization complex and related deisobutanizer units; and octane enhancement and high purity isobutylene production facilities. It also operates approximately 4,100 miles of refined products pipelines; and terminals, as well as provides refined products marketing and marine transportation services. The company was founded in 1968 and is headquartered in Houston, Texas.

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