Month: August 2020

The U.S. presidential election is only a few months away, and you know what that means. It’s time for the national conventions. This week, Wall Street’s focus has locked in on the race to the White House as the Democratic National Convention kicked off, with the Republican gathering taking place next week.Noting that 2020 may ultimately be remembered as a year of “unconventional conventions,” Oppenheimer’s Chief Investment Strategist John Stoltzfus states that the event will be driven by virtual connectivity. While there are still many unknowns in terms of the market’s trajectory pre- and post-election, the strategist is choosing to …read more […]

It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also… …read more […]

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Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Emily McCormick break down the earnings reports for Foot Locker and Deere. …read more […]

(Bloomberg) — A multitrillion-dollar beast is prowling Wall Street, making huge market moves that few can see coming — and it’s getting bigger.Known as model portfolio investing, it’s a booming corner of money management in which the likes of BlackRock Inc., Vanguard Group and Charles Schwab Corp. bundle funds into ready-made strategies.It has been around for years, but in an era of fee wars and exchange-traded funds its popularity is exploding. So much cash is now invested that model adjustments are thought to be behind multiple record ETF flows. BlackRock, the world’s largest asset manager, describes them as “crucial” to …read more […]

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Covid-19 related campus closures and the shift to remote learning may mark the end of higher learning institutions as we know them.

Chegg CEO Dan Rosensweig says 25% of all universities in the U.S. are likely to close, as cash strapped colleges struggle to adapt to a changing education environment. …read more […]

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few… …read more […]

Pfizer has said repeatedly since June that it was targeting October for its application and the companies started a large late-stage study last month of the candidate vaccine, one of the few globally in later stages of development. On Thursday they reported data from previous early-stage trials of the vaccine, BNT162b2, that showed it induced similar immune responses and had milder side effects than prior data on another candidate. Pfizer stock, down 1% this year, has trailed the stellar rises in value of major pharmaceutical companies this year. …read more […]

Stocks futures ticked lower Friday morning following a tech-led trading a day earlier. The Nasdaq closed out the regular session at yet another record high. …read more […]

(Bloomberg) — Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices.Saudi Arabian Oil Co., or Aramco, decided to stop investing in the facility in China’s Northeastern province of Liaoning after negotiations with its Chinese partners, said the people, who asked not to be identified as the matter is private. The uncertain market outlook was behind the decision, they said.Aramco didn’t immediately respond to a request for comment. China North Industries Group …read more […]

(Bloomberg) — Deere & Co., the largest maker of agricultural machinery, increased its sales outlook for the year despite an “uncertain” market due to the coronavirus pandemic.The Moline, Illinois-based producer said net income for the fiscal year would be $2.25 billion, up from a May estimate of $1.6 billion to $2 billion. The company’s third-quarter net income of $2.57 a share exceeded the highest estimate among analysts. Shares rose 4.5% as of 6:43 a.m. in New York, before regular trading hours.“Although unsettled market conditions and related customer uncertainty are expected to have a moderating effect on key markets in the …read more […]

(Bloomberg) — European stocks rose and U.S. futures fluctuated as faith in the technology-led rally and a virus-vaccine breakthrough competed with concerns over mixed economic data. The single currency weakened.Semiconductor and healthcare shares led gains Europe and in the U.S. premarket, from ASML Holding NV to drugmakers Novartis AG and Pfizer Inc. Equipment maker Deere & Co., a bellwether stock, jumped after increasing its profit guidance. The tech-heavy Nasdaq 100 swung between modest ups and downs after setting a fresh record high Thursday.The dollar gained on against a basket of its peers after the euro-area economy unexpectedly lost momentum this …read more […]

It’s no coincidence the savings rate in this country spiked at the same time as the stock market hit its lows.
The folks who stashed Uncle Sam’s mailbox money in the bank are still sitting on their $1,200.
The folks who put it in the stock market are likely sitting on a whole lot more.
It’s with that regret-stirring notion that we dive into a very personal and very controversial topic.
We’re sure to get hate mail. We’re sure to get a flood of notes telling us we’re wrong.
But then again… that’s when we know we’re doing what’s right.
That’s when we know we’re bucking …read more […]

Top news and what to watch in the markets on Friday, August 21, 2020. …read more […]