|Bid||37.91 x 27000|
|Ask||38.15 x 3100|
|Day's Range||37.83 - 38.51|
|52 Week Range||33.10 - 45.95|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-13.84%|
|Beta (5Y Monthly)||1.20|
|Expense Ratio (net)||0.74%|
Movers Indices • S&P 500 ETF (NYSE:SPY) rose 2.04% to $270.59.• Nasdaq ETF (NASDAQ:QQQ) rose 1.50% to $199.35.• Dow Jones Industrial Average ETF (NYSE:DIA) increased 2.09% to $231.41.• FTSE/Xinhua China 25 ETF (NYSE:FXI) fell 0.01% to $38.09.• FTSE Europe ETF (NYSE:VGK) rose 1.04% to $44.02.Commodities • United States Oil ETF (NYSE:USO) decreased 0.63% to $5.05.• Gold ETF (NYSE:GLD) fell 0.55% to $155.12.Bonds • 20+ Yr Treasury Bond ETF (NASDAQ:TLT) fell 0.62% to $165.28.Industries • Retail ETF (NYSE:XRT) rose 4% to $32.25.• Energy (NYSE:XLE) increased 3.28% to $33.10.• Technology (NYSE:XLK) rose 2.23% to $84.75.• Financial (NYSE:XLF) rose 3.13% to $21.93.Stocks Higher • UnitedHealth Group (NYSE:UNH) increased 4.77% to $259.58.• Marriott Intl (NASDAQ:MAR) increased 12.82% to $83.28.• New York Mortgage Trust (NASDAQ:NYMT) increased 50.37% to $2.02.Stocks Lower • AT&T (NYSE:T) decreased 2.23% to $29.42.• iQIYI (NASDAQ:IQ) fell 7.41% to $16.02.• Nexa Resources (NYSE:NEXA) decreased 9.50% to $3.24.Top News • 10 Biggest Price Target Changes For Wednesday https://www.benzinga.com/analyst-ratings/price-target/20/04/15765890/10-biggest-price-target-changes-for-wednesday• Benzinga Pro's Top 5 Stocks To Watch For Wed., Apr. 8, 2020: BIDU, SLGG, ALGT, LIVX, RCII https://www.benzinga.com/short-sellers/20/04/15765550/benzinga-pros-top-5-stocks-to-watch-for-wed-apr-8-2020-bidu-slgg-algt-livx-rcii• 4 Financial Services Stocks Moving In Wednesday's Pre-Market Session https://www.benzinga.com/pre-market-outlook/20/04/15765206/4-financial-services-stocks-moving-in-wednesdays-pre-market-session• The Daily Biotech Pulse: Genmark Pre-Announces Q1 Outperformance, Sage to Eliminate 53% of Workforce, Keros IPO https://www.benzinga.com/general/biotech/20/04/15765107/the-daily-biotech-pulse-genmark-pre-announces-q1-outperformance-sage-to-eliminate-53-of-workforce• 30 Stocks Moving in Wednesday's Pre-Market Session https://www.benzinga.com/news/20/04/15765120/30-stocks-moving-in-wednesdays-pre-market-sessionUpcoming Earnings • KushCo Holdings (OTC:KSHB) is expected to release earnings for Q2. In the same quarter last year, they reported an earnings per share of -$0.09 and revenue of $35,176,000. Analysts expect the revenue to be around $30,130,000 and the earnings per share at -$0.11.• Richardson Electronics (NASDAQ:RELL) is expected to release earnings for Q3. In the same quarter last year, they reported an earnings per share of -$0.08 and revenue of $39,018,000. Analysts expect the revenue to be around $41,400,000 and the earnings per share at $0.03.Earnings Recap • MSC Industrial Direct Co (NYSE:MSM) reported earnings today for Q2, in line with consensus estimates. They reported an earnings per share of $1.0, and sales of 786,094,000. Last year, for the same quarter, they reported an EPS of $1.24 and revenue of $823,004,000.• RPM International (NYSE:RPM) reported earnings today for Q3, higher than consensus estimates. They reported an earnings per share of $0.23, and sales of 1,174,000,000. Last year, for the same quarter, they reported an EPS of $0.14 and revenue of $1,141,000,000.• Teligent (NASDAQ:TLGT) released earnings for Q4, lower than analyst estimates. They reported an EPS of -$0.17, and revenue of 15,967,000. In the same quarter last year, they reported an earnings per share of -$0.18 and revenue of $16,777,000.See more from Benzinga * Recap: MSC Industrial Direct Co Q2 Earnings * Recap: RPM International Q3 Earnings * 8 Communication Services Stocks Moving In Wednesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Indices * S&P 500 ETF (NYSE:SPY) increased 3.48% to $283.87. * Nasdaq ETF (NASDAQ:QQQ) increased 3.84% to $201. * Dow Jones Industrial Average ETF (NYSE:DIA) rose 3.22% to $246.16. * FTSE/Xinhua China 25 ETF (NYSE:FXI) increased 3.46% to $39.95. * FTSE Europe ETF (NYSE:VGK) rose 2.53% to $48.68.Commodities * United States Oil ETF (NYSE:USO) rose 11.34% to $7.24. * Gold ETF (NYSE:GLD) fell 1.59% to $155.39.Bonds * 20+ Yr Treasury Bond ETF (NASDAQ:TLT) fell 4.04% to $164.37.Industries * Retail ETF (NYSE:XRT) increased 1.59% to $37.61. * Energy (NYSE:XLE) increased 3.98% to $35.27. * Technology (NYSE:XLK) rose 4.85% to $86.11. * Financial (NYSE:XLF) increased 4.90% to $23.89.Stocks Higher * JPMorgan Chase (NYSE:JPM) rose 8.17% to $100.90. * Vale (NYSE:VALE) rose 20.03% to $9.47. * Enable Midstream Partners (NYSE:ENBL) rose 93.48% to $4.78.Stocks Lower * Quest Diagnostics (NYSE:DGX) fell 4.22% to $105.20. * Inovio Pharmaceuticals (NASDAQ:INO) decreased 36.27% to $6.26.Top News * Little Known Company's Shares Surge Again As Investors Confuse It With Zoom Video Communications * One-Year Anniversary Of Whitney Tilson's 0 Tesla CallUpcoming Earnings Central Puerto (NYSE:CEPU) is expected to release earnings for Q4. In the same quarter last year, they reported an earnings per share of -$0.0 and revenue of $171,150,000. Analysts expect the revenue to be around $151,710,000 and the earnings per share at $0.93.Cloudera (NYSE:CLDR) is expected to release earnings for Q4. In the same quarter last year, they reported an earnings per share of -$0.15 and revenue of $144,515,000. Analysts expect the revenue to be around $201,790,000 and the earnings per share at -$0.03.Clean Energy Fuels (NASDAQ:CLNE) will release earnings today for Q4. Last year, for the same quarter, they reported an EPS of -$0.01 and revenue of $96,229,000. Analysts predict the revenue to be around $108,630,000 and the EPS to be at $0.16.Earnings Recap Dick's Sporting Goods (NYSE:DKS) released earnings for Q4, better than analyst estimates. They reported an EPS of $1.32, and revenue of 2,609,000,000. In the same quarter last year, they reported an earnings per share of $1.22 and revenue of $2,492,000,000.See more from Benzinga * Cloudera's Q4 Earnings Preview * Morning Market Stats In 5 Minutes * 11 Consumer Cyclical Stocks Moving In Tuesday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Analysts are getting more pessimistic about China's economic growth in the first quarter of 2020 as the coronavirus outbreak continues to intensify globally.
Wall Street is in the middle of the bloodbath, and this week was shockingly negative -- setting records, and not the good kind. The global fears from the spread of the coronavirus ignited a panic among investors. Meanwhile, just a few days ago, stocks made a new all-time high. And by the end of Thursday, the market had fallen into an official correction at a record pace. Sure, many companies are feeling the heat, but Luckin Coffee (NASDAQ:LK) was hit hard, and LK stock felt burned.Source: Keitma / Shutterstock.com At its current price, Luckin stock has fallen 11% from last week's highs -- which was 16% below the all-time high set in January. So clearly, LK stock moves fast. And on the way down it looks, like it's falling into an abyss. However, homework matters. LK Stock Has the Sniffles, but Not a Deadly DiseaseYes, there is pain. But relatively speaking, Luckin stock held up better than Starbucks (NASDAQ:SBUX) through this tough period.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAlthough both stocks are in the red in 2020, LK stock is up nearly 88% the past 12 months while SBUX has gained just 11%. All things considered, this is surprising given that Luckin operates in China -- which was ground zero for the coronavirus.Moreover, retail in general suffers when there is fear of infection. But, nevertheless, LK stock is resilient -- and this proves that it has its fans who are not afraid of adversity. * 10 Stocks to Buy for Your 10-Year-Old Maybe it's because the stock is in the hands of strong investors, as it just recovered from a 35% crash not too long ago. So those who bought the dip then may not be as scared of a this much milder selloff so far.On Jan. 22, I wrote about the potential of better entry points and boy did that turn out to be true. So there is always the potential of big moves from LK stock.This, however, should not scare investors out of it because there is always a reason to worry. In this case, management earned the benefit of the doubt because in such a short period of time, Luckin Coffee is already a formidable competitor to Starbucks. Therefore, over the long term, the matter of trade timing is not going to be critical. Relief Is Coming for LK StockAt the Thursday lows, LK stock was was down big, but then buyers stepped in in force. Luckin stock closed well off the lows, thereby leaving a bullish posture candle with a long tail. This could be an emphatic rejection of the lows, as this also happened on the bottom it set on Jan. 31st.Nothing is fully certain, but small signs like this leave clues. Moreover, Chinese stocks have been more resilient like the iShares China Large-Cap ETF (NYSERCA:FXI) and iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) were both green this week on days that the S&P 500 was down 3%. Maybe since China led the world with the virus worries, it is now the first trying to emerge from their effects.Whatever it is, clearly this is not normal price action. So today, let's assess current levels and try to find potential support zones below. Knowing those two things, the investors can then decide whether the upside potential is worth the risk at this point.Let's start with the fundamentals. LK stock is not cheap, as it operates at a loss and sells at an astronomical multiple of its sales. For now, investors should give it leeway because they are focused on growth. Management is making bold moves with unmanned kiosk delivery solutions, and who knows what else is next. So in this case, you get what you paid for because in the last six months, the stock is up almost 97% while the S&P 500 is mired flat. The LK Chart Says a Lot About What's NextSince it is expensive from the traditional sense, value will not act as support. That said, we turn to the charts to find the clues.Thursday's low was just under $34, which was support for all month long. So far, it's holding strong, and so the bulls are somewhat comfortable relying on it. But if it fails, then it is likely that LK retests the January lows -- and those would be even stronger support.Moreover, if the market-wide panic persists, then this second leg lower is more likely than not. Otherwise, I suspect it's not a likely scenario.Simply put, if someone held the stock through yesterday pain, then the time to panic out of it has passed. The next decision would be based on the outcome of the near price of $34. The next three trading days are crucial, and it's best to sit them out.However, I bet there will be buyers on any incremental selling. Depending on investor time frames, this dip is already a good opportunity to initiate new positions or add some to current ones. Overall, the overall global macroeconomic conditions are still bullish after the effects of this virus fade. The World Is Committed To GrowthCollectively, the global governments and their central banks are committed to reflating growth. So they will throw a ton of money at the problems.In the U.S., we have a very favorable Federal Reserve that is expected to cut rates sooner rather than later -- and more than once. China has already committed billions to offset the negative effects of the business disruptions, so shorting the markets with new positions from here seems illogical.Conversely, there is no rush into piling into any stock at this point. Therefore, it makes sense to either sit out the next few ticks at the expense of missing out on a few upside profits, or nibble with small positions. Neither bulls nor bears should be confident in their positions here because there is so many unknowns. The headlines are insanely confusing, and most likely inaccurate.Overall, Wall Street sells first, and then asks questions later. So far, investors already priced out more than $2 trillion dollars in market capitalization. This is likely more than enough to cover all the effects to the company bottom lines. Just like we rally too fast, my opinion is that we're falling too fast and somewhere in the middle lies the truth.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy for Your 10-Year-Old * 5 Hot Cannabis Stocks to Snap Up * Buy These 5 Super Fast-Growth Dividend Stocks While They Are Down The post Despite Market Correction, Luckin Stock Remains Hot appeared first on InvestorPlace.
U.S. stocks have taken a beating in recent weeks on growing concerns about the negative economic impact of a global outbreak of the COVID-19 coronavirus. DataTrek Research co-founder Nicholas Colas compared the negative market impact of the coronavirus outbreak to the positive impact of January’s phase one trade deal between the U.S. and China. The futures market has also adjusted its interest rate expectations significantly in recent months.
Indices S&P 500 ETF (NYSE: SPY ) fell 1.08% to $333.34 Nasdaq ETF (NASDAQ: QQQ ) decreased 2.01% to $230.06 Dow Jones Industrial Average ETF (NYSE: DIA ) fell 1.09% to $289.62 FTSE/Xinhua China 25 ETF ...
The month of January witnessed Middle-East tension, the coronavirus outbreak and the return of global growth worries, putting the spotlight on these ETFs.
Stocks have taken a big hit in the past week on Wuhan coronavirus fears, but Chinese stocks have gotten hit especially hard. Not surprisingly, short sellers have been particularly active in certain Chinese ...
This figure from S3 Partners includes shorting of ETF shares worth $62 million and equities worth $275 million. The top China-centric ETFs being targeted by short sellers include the ISHS MSCI China ETF (MCHI), ISHS China Large Cap ETF (FXI), Kraneshs CSI China Internet Fund ETF (KWEB) and SPDR S&P China ETF (GXC). Travel restrictions are in place throughout China's major cities and health screenings are increasing at major airports in Asia and Europe.
Virus fears affected stocks around the world as the China coronavirus continued to spread, with a fifth confirmed case in the U.S. China stocks fell hard.
Coronavirus fears are taking a toll on Chinese stocks this week. But there's a silver lining to the carnage. Most of them, like Alibaba (NYSE:BABA) stock, had share prices that were hotter than a freshly fired pistol. They needed a pullback, and the virus news, as terrible as it is, provided the catalyst needed for Chinese equities to cool off.Source: zhu difeng / Shutterstock.com Now leaders in the space offer attractive buy-the-dip setups. Spectators reticent to chase last week's lofty prices have the chance to pile in at lower-risk levels.We'll break down the opportunity in Alibaba stock below, but first, let's look at the price action in the iShares China Large-Cap ETF (NYSEARCA:FXI) to provide the backdrop for our trade idea.InvestorPlace - Stock Market News, Stock Advice & Trading Tips China's Stock WoesSource: The thinkorswim® platform from TD Ameritrade FXI is the most liquid exchange-traded fund available for diversified exposure to China's stock market. As such, it is the go-to vehicle for traders and investors seeking access to the largest companies in the country. The spreading coronavirus crisis has taken FXI down 6.5% from last week's $45.29 high. It's far from a major correction, but enough to reintroduce fear into a marketplace that has been extremely complacent. * Invest in America's Most Trusted Brands With These 7 Stocks to Buy Though the descent has pushed FXI below its 20-day moving average, the 50-day is holding firm this morning. We are testing the lower boundary of its trending range in what could turn out to be a buying opportunity. Because the damage to FXI has been insufficient to turn the intermediate-term uptrend, I suggest maintaining a bullish view on China and the entire emerging markets space for that matter.Alibaba stock is retreating alongside FXI and offers a compelling low-risk setup as well. Let's take a closer look. Alibaba Stock ChartsSource: The thinkorswim® platform from TD Ameritrade Late last year, BABA finally mustered the strength to break out out of its two-year trading range. The phase-one trade deal, and improving sentiment surrounding emerging markets, boosted the stock to a new record. Momentum increased during the ascent, breathing new life into what had become a flagging trend. Volume patterns also confirmed institutions were wading back into the waters with multiple signs of accumulation.Because of the groundswell in demand, I suspect any weakness over the coming days will prove a buying opportunity. There are too many potential floors beneath the price to bet against bulls here. I'm eyeing the next two support zones at $207 and $200.The daily view reveals Thursday's push below the 20-day moving average was quickly bought up. Rather than selling the down open, buyers swarmed, sending Alibaba stock toward its high of the day by closing time.Source: The thinkorswim® platform from TD Ameritrade The next quarterly report on Feb. 12 could inject volatility into what has otherwise been a well-behaved uptrend. That's the one X-factor that could upset what is now a clear buy-the-dip setup.If you're willing to lean long into the announcement, then deploy bull put spreads.The Trade: Sell the Feb $210/$205 bull put spread for around $1.30.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. For a free trial to the best trading community on the planet and Tyler's current home, click here! More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks on the Move Thanks to the Davos World Economic Forum * Invest in America's Most Trusted Brands With These 7 Stocks to Buy * 7 Earnings Reports to Watch Next Week The post Buy Alibaba Stock on Coronavirus Fears appeared first on InvestorPlace.
As the formalization of the Sino-US trade deal nears, China's recently-released export data for December looks encouraging. In such a scenario, we highlight some ETFs that can gain.
The Phase One trade deal is important because it is "better than being at constant war," Hochberg said. While the two countries were able to come to some sort of trade agreement, a lot of topics concerning farmers and workers were not included, he said. The trade deal amounts to a "purchase agreement," and it is difficult to predict when a "Phase Two" deal will come into the picture, Hochberg said.
The United States will no longer consider China a currency manipulator, according to media reports. Bloomberg said Monday that Trump administration sources said the Treasury Department will lift the designation of China as a currency manipulator in an upcoming semi-annual report. The Treasury Department labeled China a currency manipulator last August, escalating the trade war between the countries, following a move by China’s central bank to allow the Chinese currency, the yuan, to fall in response to newly enacted U.S. tariffs.
Policy easing, subsiding trade tensions, technological disruption and solid household savings should boost these China ETFs in 2020, even after a solid 2019.
Protests in Hong Kong continued over the Christmas holiday with a flurry of tear gas and arrests as police clashed with protesters following weeks of relative calm, according to The Wall Street Journal. Thursday marked the third straight day of political unrest over the Christmas period as police and protesters clashed inside shopping malls. On Wednesday, Hong Kong's pro-Beijing leader Carrie Lam said violent protesters had "ruined" Christmas, according to Channel News Asia.
The iShares China Large-Cap ETF (FXI) , the biggest China-specific ETF by assets under management, is higher by almost 4.4% this month and that puts the benchmark China fund in position for a technical breakout of potentially massive significance. FXI and other China ETFs have recently rallied against the backdrop of cooling trade tensions between that country and the U.S., the world's two largest economies. Like the majority of emerging markets, China hasn’t been immune to the pangs of the market volatility within the last couple of months due to the U.S.-China trade war.