Good MorningThe equities market tried to extend the August rally on Monday but wasn’t able to hold the gains. The S&P 500 set a new all-time high in early trading but gave it up to close with a small loss. Even so, the broad-market index closed out the month with the best August gains since 1984. The question for traders now is what will happen when Wall Street goes back to work in September?
With equities trading at all-time highs and near-record valuations, it is all but certain some profit taking will take place. One possible catalyst is the August Non-farm payroll report. The report is expected to show another sizeable gain in employment and could be make-or-break news for the stock market. Until then investors are urged to keep some cash ready. If and when the market decides to pull back it’ll be another great time to load up on cheap stocks
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Markets | | |
Some stocks have done shockingly well in the midst of a pandemic, and that really shouldn't be a surprise. We've seen explosive growth come out of it since the depths of April's disaster, and Sorrento Therapeutics (NASDAQ: SRNE) has recently emerged as one of the biggest gainers in the field. It m... Read the Full Story |
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From Our Partners | | Bitcoin just passed Amazon in total market cap — but most investors are missing the bigger opportunity.
While the crowd buys Bitcoin outright, trader Larry Benedict is using a method called “Bitcoin Skimming” to target 6x, 9x, even 22x bigger profits. He reveals how it works in a free video. | | Watch the Bitcoin Skimming strategy here |
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Markets | | | Chinese electric vehicle manufacturer NIO Limited (NYSE: NIO) stock has been on fire driven by the electric vehicle (EV) and SPAC speculation tailwinds stemming from the meteoric rise in Tesla (NASDAQ: TSLA) shares. Shares have blown away the performance of the benchmark S&P 500 index (NYSEARCA:... Read the Full Story |
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Markets | | | Big Lots Suffers From High-Expectation Syndrome
Looking at Big Lots (NYSE:BIG) second-quarter report I can find absolutely no reason why the stock tanked 10% after its release. Looking into the company’s expectations and taking note of an incredibly high short-interest (above 20% even today) ... Read the Full Story |
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Markets | | | Eaton Corporation Prepares For Economic Rebound
Eaton Corporation (NYSE:ETN) was not immune to the pandemic. The company is a maker of electrical components for business, industry, and residential use, and its markets were hit hard. But that doesn’t mean it isn’t a buy. The Eaton Corpor... Read the Full Story |
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Markets | | | Freshpet (NASDAQ: FRPT) was trading at all-time highs right before the onset of the pandemic. But after the natural pet food company’s shares lost around half their value in less than a month, they have come roaring back, nearly tripling off the lows and trading at nearly 40% above those pre-p... Read the Full Story |
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From Our Partners | | Washington is running out of money…And guess where they'll look next?
When governments go broke, they take from the people.
It's happened before, and it's happening again.
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The Early Bird Stock Of The Day Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations customers; non-residential construction market; farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota. | | View Today's Stock Pick |
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