🐻 Bear’s see opportunity as S&P 500 fades into the close on COVID-19 drug trial failure.

It was less than a week ago that the market popped on news of a potential vaccine candidate.
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Good morning. It was less than a week ago that the market popped on news of a potential vaccine candidate.

There wasn't much follow through this week, but Thursday slipped into the close as the same hopeful attitude about the potential treatment failed its first trial.

To be honest, I'm not necessarily wanting to be a guinea pig, but the market wants to see one get better from COVID-19.
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MARKETS
DOW 23,515.26 +0.17%
S&P 2,797.80 -0.05%
NASDAQ 8,494.75 -0.01%
*As of market close
Stocks fell yesterday, on news of COVID-19 drug trial by GILD.
Oil rose 24%, as production cuts help ease storage constraints.
Gold rose 0.72%, as it approaches its April 14 high of $1788.
Cryptocurrencies traded higher, with Bitcoin finishing 6.25% higher closing at $7560.

Today's TOP TIPS
3 COVID-19 Vaccination and Treatment Stocks to Watch
As the U.S. starts to emerge from the quarantine, the grasp that state authorities are holding on the economy is having trouble letting go. The goal posts keep shifting and the move toward contact tracing, testing and an eventual vaccine is the direction they are heading.

The timeline for a vaccine will likely be a year away, but much of the opportunity is occurring now as investors try to weigh the possibility of a viable vaccine.

» FULL STORY

Option Traders Not Fearing the Radiation of Uranium Stocks Amid COVID-19 Closures
Cameco Corporation is a Canadian uranium producer whose primary operation is their property at Cigar Lake in Saskatchewan, Canada. On Thursday, the option market began to heat up for uranium stocks as CCJ and Energy Fuels Inc (UUUU) over 15 times and 31 times the average call volume, respectively. For CCJ, 43% of the call volume occurred at the ask price.

» FULL STORY

CEO or Alchemist? Top Executive Buying Shares of this Petrochemical Company as Analysts Cut Estimates
Lyondell Basell Industries N.V. (LYB) is a Houston, TX petrochemical company that produces olefins and polyethylene products. The company is scheduled to release its earnings on May 1, 2020. As earnings loom and economic uncertainty abounds, the CEO of LYB is stepping in a buying shares in April. On April 6, 2020 Bhavesh Patel purchased 4,654 shares at $49.35. His purchase has a value of over $229,000.

» FULL STORY

IN OTHER NEWS
Capital One posts surprise Q1 loss, shares fall
S&P 500 slips after report on coronavirus drug trial
Intel forecasts second-quarter profit below estimates
Biggest Oil ETF 'Almost Unanalyzable' After Ditching Disclosures
Oil rallies on faster output cuts to offset virus-induced falloff in demand
Empire State Building Owner Sees Observatory Opening in July
PulteGroup's stock slips, as buyer traffic 'decreased materially' in April after orders sank in March
Independent contractors may find less money in their unemployment checks
Short sellers make nearly $300 million betting against retail investors' favorite oil fund
Hedge Funds Are on Defense and Testing the Stamina of a $5 Trillion Stock Rally

S&P 500 MOVERS
TOP
XEC 12.537%
LVS 12.016%
APA 11.465%
ODFL 10.137%
ADS 10.115%
BOTTOM
IVZ 21.133%
CTXS 6.678%
FTI 6.659%
GWW 6.41%
STX 5.617%

Quote of the Day
The hope as of last week was that Gilead could take the fear of dying off the table, which would result in a much quicker, cleaner, faster recovery. If that's less likely today than it was yesterday, it is perfectly reasonable for the market to have sold off.
- David Katz, chief investment officer at Matrix Asset Advisors, quoted by Reuters

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