Non-Seasonally Adjusted Jobless Claims Fall
Stimulus Still In Flux On Thursday, the Senate failed to agree to a plan that would give unemployed people $200 in weekly benefits. That’s a positive because it’s virtually inevitable there will be a stimulus. Rejecting the lower amount for people is a good thing if it leads to more money. Best case scenario would…
The Summer Earnings Explosion is Underway
We're seeing the NASDAQ and XLK Technology sector ETF surge after-hours today on blow-out earnings and bullish knee-jerk price action in leading tech names Apple (AAPL), Amazon (AMZN), and Facebook (FB), but not all is exploding to the upside. Join Corey in tonight's video as he details the initial fall-out and what to expect and…
Huge Rally Ahead of Big Tech Earnings
Massive Wednesday Rally Stocks exploded on Wednesday in the face of the antitrust hearing and the Fed meeting. In the testimony, Congress said in 2016 Apple offered Amazon to only take a 15% cut from its video service, but Amazon didn’t go with it. That’s anticompetitive, but since the deal wasn’t struck it shouldn't be…
Congressional Hearing Does Nothing To The Tech Giants
Big Win For FAANG - Without the N Congressional testimony for the big internet companies was Wednesday. It was supposed to be Monday, but it was postponed due to the death of John Lewis. This didn’t have the typical pomp and circumstance of normal hearings because it wasn’t in person. It’s tougher to grill someone…
Fate of the Markets in the Hands of Tech
Financials lead the way today as the biggest tech earnings announcements are tomorrow after the close in what will be the biggest earnings releases at one time ever. Here's what to expect for the rest of the week...
Gold Hits Another Record High
Moderate Decline On Tuesday The stock market had a lazy Tuesday in which it barely moved until it fell in the afternoon. It's humorous that some claim the Wednesday Fed meeting caused stocks to fall. That’s implying traders suddenly ‘discovered’ a Fed meeting was coming the next day at about 3PM when the selloff started. …
COVID-19 Hurts Consumer Confidence In July
Redbook Improves Slightly Some investors have been calling for consumer spending growth to bottom in late July which means the reports that are about to come out will still be weak. S&P retail index agrees with me as it is up 9.4% in the past month. Either it is completely detached from the fundamentals or…
Gravity and the Bidless Beast Strike Again
We're seeing consolidation ahead of an active trading week with a Federal Reserve decision Wednesday and many major companies reporting earnings this week. In particular, Thursday will give us earnings in monsters or tech stocks Amazon (AMZN), Google (GOOGL), and Apple (AAPL) so position accordingly - or stay safe. Today saw the /ES close at…
Speculation Reaches A New Asset As Gold Hits A Record High
New Gold Record High Gold has been rallying in the background for a few months, but no one paid much attention to it because the Nasdaq has been on a historic run. It took a new record high being hit for gold to get credit for its rally. There have been so many once in…
New Stimulus Likely Coming Early August
Coming Fiscal Stimulus Incredibly, the market is so confident a new stimulus bill will pass. The market rightfully expects one to pass because it is extremely necessary. Once the details are clear, the market will react. It’s incredibly difficult to know what the market expects exactly because negotiations are confusing to follow. Initially, the GOP…