Over the past several days, the market has finally started to dig in a little and we didn't see a limit down event overnight or a trading stoppage during normal market hours.
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| | Good morning. I hope you were able to relax over the weekend and didn't have to wait outside of your local Costco for a long while as they limit the number of entrants. When it's finally your turn, you got a squirt of hand sanitizer and a freshly wiped down cart.
Nice touch, but I'll take a shorter wait time please. I'm struggling a little bit, as you can tell, with what is considered essential services and what isn't. Nobody seems to want to consult me. Well, maybe they shouldn't. | | | | | | | | | | DOW 19,173.98 | -4.557% | | | | S&P 2,304.92 | -4.34% | | | | NASDAQ 6,879.52 | -3.79% | | | | *As of market close | | • | Stocks fell 4.34%, as the market slipped below the March 16 low at the close. | | • | Oil fell 8.760%, as we finished the week above $20. | | • | Gold rallied 1.47%, as dollar demand eased. | | • | Cryptocurrencies traded flat on the day, as Bitcoin finished over 0.23% higher to close at $6205. | | | | | | | | 3 Chipmakers Signaling a Potential Chinese Manufacturing Recovery | | | | The current environment is an uncertain one, but investors are doing their best to sort through the ashes and attempt to find value. Upgrades on Friday led to some nice early moves that were mostly faded.
Technology stocks have been market leaders for so long and even during the recent sell-off the Nasdaq 100 (NDX) has outperformed the S&P 500 (SPX). It makes sense that traders will go back to what has worked so well in the next rally. » FULL STORY | | | | | | Option Traders Bought a Large Amount Calls on this COVID-19 Vaccine Stock on Friday | | | | Inovio Pharmaceuticals (INO) has been high on the list of companies that traders have been speculating on as the race for a vaccine continues. While it may be 12 to 18 months away from being available for public use, that doesn't mean that there isn't opportunity right now as the probabilities of a positive outcome are reflected every day in the movement of the stock price.
» FULL STORY | | | | | | Carl Icahn's Investment in this Car Rental Company May Finally be Paying Off | | | | Stocks that are down precipitously are generally down for a reason, and right now most companies are getting hammered because of high debt levels. With leverage nearly double the industry average, Hertz Global Holdings Inc (HTZ) has paid a price, despite its solid fleet management and cost containment strategy.
However, Carl Icahn, who is over a 10% owner in the company, purchased nearly 12M shares, increasing his holdings of HTZ by 25%. It looks like he's finally being rewarded.
» FULL STORY | | | | | | | TOP | | CCL | 20% | | | MGM | 18.312% | | | MOS | 16.667% | | | UAL | 15.132% | | | MPC | 13.337% | | | BOTTOM | | FLIR | 18.726% | | | WEC | 18.051% | | | ARNC | 16.404% | | | L | 16.215% | | | RMD | 15.988% | | | | | | | | | We think this is going to play out very strongly over the remainder of March, as well into April, with very strong declines. | | - Tyson Jominy, vice president of data and analytics for J.D. Power, quoted by Bloomberg | | |
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