Good MorningWall Street got what it wanted from the Fed. The FOMC held rates unchanged and indicated an easy money policy would remain in effect for an extended period. Within the statement, Fed officials say that economic activity is well below pre-COVID levels but employment has picked up in recent weeks. The outlook is promising but depends solely on the course of the COVID-19 pandemic and timing of any treatments or vaccines.
The statement release sparked some intraday volatility but nothing major for investors to worry about. The S&P 500, up about 1.0% going into the release, was able to maintain that level despite a few ticks of volatility immediately after. By the end of the day, the S&P 500 was closing near the highs of the session, and confirming the market melt-up is still in-progress with attention focused on earnings. /Speaking of earnings, the 2nd quarter season hits full boil after the bell with reports from four of the five FAANG stocks.
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Stocks | | |
With the spot price of gold reaching new all-time highs of over $1,900 per ounce, it’s safe to say that the gold and precious metals market is heating up. Traditionally, gold is considered as a safe-haven asset or a hedge against the U.S. dollar, low-interest rates, and inflation. This could... Read the Full Story |
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Markets | | | Sometimes with stocks, you’re better off not asking too many questions and just trusting your gut. From January 2017 to January 2018, shares of Paypal (NASDAQ: PYPL) ran up 120%. Since March of this year, they’re up about the same. For a $200 billion company, they sure know how to move a... Read the Full Story |
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Markets | | | With a seven-year trading range of $200 to $400 and every price in between, shares of Massachusetts based Biogen (NASDAQ: BIIB) know exactly what it’s like to be a biotech company where your future depends on your next drug.
Shares are currently bobbing along in the middle of that range after... Read the Full Story |
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Markets | | | Fasteners Are In High Demand
Simpson Manufacturing Company (NYSE: SSD), like its competitor Fastenal (NASDAQ: FAST), is emerging as a sleeper-win in the post-pandemic age. The pandemic has people staying home, staying home has people fixing up their homes, fixing up homes means trips to Home Depot ... Read the Full Story |
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Markets | | | Juniper Networks (NYSE: JNPR) has been a favorite of mine over the last year for several reasons. Regarding its business, it is a maker of all-things networking-related and therefore fundamental to technology infrastructure. Read the Full Story |
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The Early Bird Stock Of The Day Casey's General Stores, Inc. engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items. The company was founded by Donald F. Lamberti in 1968 and is headquartered in Ankeny, IA. | | View Today's Stock Pick |
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