Good Morning. As the market faded on Tuesday and the Senate appears to be balking on Trump's..
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| |  Good morning. As the market faded on Tuesday and the Senate appears to be balking on Trump's stimulus, you knew there would be some difficulty continuing the advance.
However, as news of Southwest Airlines continuing their policy of fewer passengers until September or later, it became clear that the recovery in these areas isn't progressing as fast as investors would like. It was never going to be an easy road to full recovery despite the hopes for the killer V.
Now here's the rest of the news: | | | | | |
| | |  | DOW 26,119.61 | -0.65% | | | | S&P 3,113.49 | -0.36% | | |  | NASDAQ 9,910.53 | +0.15% | | | | | *As of market close | | | • | Stocks fell yesterday, economic data surprises on the negative side. | | | • | Oil fell 0.60%, as inventories had a larger than expected weekly build of 1.2 million barrels. | | | • | Gold finished flat, as the U.S. dollar continues to consolidate against other major currencies. | | | • | Cryptocurrencies traded lower, with Bitcoin finishing 1.4 % lower closing at $9400. | | | | | |
| | | 4 S&P 500 Retail Stocks that are Built to Last | | | | Earlier in the week the May retail sales numbers were released and posted record results. Coming into the report, the April number was down 14.7% and is reflective of the mass closures due to COVID-19. The estimates for May at 7.9% would have been the largest monthly jump in the history of the series, eclipsing the previous record of 6.7% in October 2001. However, the actual saw retail sales increase 17.7%, which blew away the estimates and the previous record.
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| | Is the Options Market Signaling Another Down Move in Airlines? | | | | The U.S. Global JETS ETF (NYSEARCA: JETS) is a fund that provides investors access to the global airline industry through airline operators and manufacturers. On Wednesday, there were several unusually large option trades on JETS. This was the second day in a row that a significant number of put options were bought on the 18 SEP 20 $15 strike price. A 5,000-contract order had 3,000 contracts filled at the ask and 2,000 filled between the market for a $1.40 to $1.45.
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| | Insiders Step Up the Purchases this Week on this Holding Company | | | | Cannae Holdings Inc (NYSE: CNNE) is a diversified holding company. The company recently announced a public offering of 11,000,000 shares of common stock. The company plans to have 500,000 shares purchased by directors, officers and other related parties. As part of the offering, 248,334 shares were purchased by insiders on June 15, 2020. The money provides an opportunity for the company to raise $412,500,000 for new acquisitions and investments but also for adding to existing holdings.
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| | | | TOP | | | BMRN | 4.555% | | | | AAP | 4.192% | | | | ATVI | 3.466% | | | | AON | 3.122% | | | | NXPI | 3.081% | | | | BOTTOM | | | HRB | 9.484% | | | | NCLH | 8.397% | | | | TRIP | 7.606% | | | | RCL | 7.152% | | | | FANG | 6.844% | | | | |
| | |  | | Do I think that you can sit down and decouple the United States economy from the Chinese economy now? That was a policy option years ago, but I don't think it's a policy or reasonable policy option at this point. I think you will see supply chains come back as a result of U.S. policy. | | - U.S. Trade Representative Robert Lighthizer, quoted by Fox Business  | |
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