Good Morning. The financial sector really led the way into the close as it was the top-performing..
| | Good morning. The financial sector really led the way into the close as it was the top-performing sector. However, the late vote by the Federal Reserve may require some banks to eliminate their dividend because of the stress tests. While its big news, we'll see how the market responds.
Now here's the rest of the news: | | | | | | | | | | DOW 25,745.60 | +1.18% | | | | S&P 3,083.76 | +1.10% | | | | NASDAQ 10,017.00 | +1.09% | | | | *As of market close | | • | Stocks fell yesterday, as the late-day surge in financials lifted stocks. | | • | Oil fell 3.3%, as the price could not stay above $40. | | • | Gold rose 0.83%, as the price firmed up following Wednesday's selling. | | • | Cryptocurrencies traded flat, with Bitcoin finishing near Wednesday's low closing at $9265. | | | | | | | | 10 Large Cap Growth Stocks Positioned to Weather the COVID Storm | | | | Virtually all indices are weighted according to the size or market capitalization of a company. The bigger the market cap, the bigger the effect on the index. This becomes an issue when so many mega capitalization companies cross over to so many categories. As you look at the top holdings, you'll typically see the same five technology and communications companies at the top. This is where being a stock picker can give you an edge. » FULL STORY | | | | | | Option Market Anticipating Unfriendly Skies for this Airline | | | | The rise in COVID-19 cases is creating a stir over what activities are acceptable and what businesses pose the most risk to consumers. Clearly, airlines have been in the crosshairs for a while and it may about to get even worse. Option traders appear to be seizing the opportunity to add some bearish exposure to airlines on Thursday. The put option activity on JBLU was over times the average with 60% of the volume getting filled at the ask price. » FULL STORY | | | | | | 10% Owner Sells Ahead of Layoff Announcement from Audio Company | | | | Sonos Inc (NASDAQ: SONO) announced on Wednesday that it will be laying off 12% of its workforce globally as the company seeks greater "flexibility" operationallyIn the past couple weeks, the volume has exploded as the price has reached $15. This creates a point where the price may breakout to the upside or to the downside. It's the downside potential that KKR was seeing as they liquidated their holding to the tune of 13.84 million shares on June 17. » FULL STORY | | | | | | | TOP | | NOV | 9.83% | | | ACN | 7.669% | | | NBL | 6.264% | | | PXD | 6.011% | | | AMP | 6.009% | | | BOTTOM | | COG | 4.185% | | | M | 4.13% | | | PHM | 3.723% | | | KSS | 3.537% | | | HRB | 3.425% | | | | | | | | | Past experience shows that banks operating close to their regulatory minimums are much less likely to meet the needs of creditworthy borrowers, and the resulting tightening of credit conditions could impair the recovery, | | - Fed Gov. Lael Brainard, Quoted by MarketWatch | | |
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