Good MorningThe market had a bit of a mixed day on Wednesday following the first U.S. Presidential debate of the 2020 election cycle. Although equity traders largely shrugged off the event in favor of better than expected economic data by the end of the day the major indices had given up some of the gains leaving the S&P 500 up about 1.0% for the day. The data includes an upward revision to the final read on the 2nd quarter GDP as well as more current data from the labor, housing, and manufacturing sectors.
The GDP data underscores what we already know. The shut-down was bad but not as bad as expected and nowhere close to the worst-case scenario. The other data underscores a developing story in that the rebound is stronger than expected. On the labor front, the ADP employment report showed upward of 700,000 newly added jobs in September, better than expected and up from the previous month. Regarding housing and manufacturing, both the pending home sales and Chicago PMI data were up from last month and better than expected.
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Construction | |
One of the more unexpected trends that have resulted from the pandemic is the increase in the demand for new single-family homes. At first, many believed that the pandemic would cause an economic crisis that would decimate the real estate market. However, that hasn’t exactly been the case fo... Read the Full Story |
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From Our Partners | | MP Materials surged 111%. Lithium Americas climbed 194%. Trilogy Metals jumped 211% overnight. Three stocks, three months, every one doubling - and they all share one common thread.
Trump's National Energy Dominance Council quietly touched each one first. Now they're targeting a five-trillion-dollar rebuild of the American power grid, and one company sits at the center of it. | | See the committee's next target before the market catches on |
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Technology | |
Micron Shares Tank After Earnings
Shares of Micron Technology (NASDAQ:MU) have not been performing all that well since hitting the pandemic-bottom. The share prices recaptured only a fraction of the pre-COVID highs and are still struggling with resistance. Its understandable past-performance was ... Read the Full Story |
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Technology | | Nothing lasts forever – even the Apple (NASDAQ: AAPL) rally. After making a V-shaped recovery, shares spent much of June, July and August on the all-time high list. But September has been a different story, with shares dipping nearly 24% from peak to trough. AAPL has since clawed back some of ... Read the Full Story |
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Medical | |
Under normal circumstances, pharmaceutical companies are thought to be safer than most industries during periods of economic uncertainty. This year is unique in that the pandemic has led to fewer people going to the doctor and getting prescriptions, which ultimately impacts the sales for big pharm... Read the Full Story |
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Transportation | | The Theme Of 3rd Quarter Earnings? Upgrades
If the theme of the 2nd quarter earnings cycle was “better than expected” then upgrades will be the theme of the 3rd quarter. It’s only natural. If 2nd quarter earnings and the outlook for the full-year are better than consensus the prog... Read the Full Story |
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From Our Partners | | Trader Chris Pulver says a new SEC document dropping the day-trading limit to $2,000 has created the biggest retail opportunity he has seen in over 30 years.
His strategy targets what he calls Flashpoints - moments when market makers must move billions of dollars on the S-P 500 in a narrow window. Research shows one recent signal would have returned 83.7% in 36 minutes and another 62.8% in 51 minutes.
Lance Ippolito flew to Utah for a full breakdown of the method. | | Tap here to see the complete Flashpoint trading breakdown now |
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Consumer Staples | |
When McCormick (NYSE:MKC) delivered earnings in June, the consumer carried the day. Despite surveys that say Americans don’t like to cook, it seems they did just that in the early months of our global pandemic. Millions of Americans dusted off old recipe books and found their spice cabinets ... Read the Full Story |
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Retail/Wholesale | | Restaurant operator Brinker International (NYSE: EAT) shares have nearly doubled since our MarketBeat Original article highlighting the delicious entry on pullbacks under the restart narrative on May 20, 2020. With isolation mandates lifted, the restart narrative has taken shape as limited in-dining... Read the Full Story |
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Auto/Tires/Trucks | | Thor Industries; Loving The Van Life
Thor Industries (NYSE:THO) just reported a strong quarter and improved guidance and I am not surprised. The #vanlife is a wildly popular and rapidly growing phenomenon that has only been accelerated by the pandemic (where have I heard that before?). Not only are... Read the Full Story |
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Medical | | On Friday, Johnson & Johnson (NYSE: JNJ) released early results from the Phase 1/2 a clinical trial for its COVID-19 vaccine. One dose appeared to produce a strong immune response in 99% of the participants. There were some mild side effects, such as fever, headache, and fatigue, but they resolv... Read the Full Story |
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Consumer Staples | |
With market volatility on the rise again and signs that an economic recovery might take longer than initially expected, now is the perfect time to look towards consumer staples for investment opportunities. These stocks are interesting because they are companies that produce essential goods that p... Read the Full Story |
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