165.93 -0.40 (-0.24%)
After hours: 7:59PM EST
|Bid||165.89 x 1000|
|Ask||165.94 x 3100|
|Day's Range||166.18 - 170.64|
|52 Week Range||150.13 - 187.53|
|PE Ratio (TTM)||9.36|
|Beta (3Y Monthly)||1.19|
|Expense Ratio (net)||0.20%|
Over the past year or so, smart-beta ETF pioneer Invesco has rebranded itself, made two high-profile acquisitions and launched at least a dozen new funds.
Please click here for the chart of the core Producer Price Index (PPI) through October. Core PPI excludes food and energy. At The Arora Report we use core PPI in our timing model that has inputs in 10 categories.
One can only assume that the large customer is Apple Inc. (Nasdaq: AAPL), and this idea finds support in the report “Apple warns suppliers of 20% drop in new iPhone parts orders,” published by Nikkei Asian Review back on June 8. In the report, the authors stated that Apple had “asked its supply chain to prepare around 20% fewer components for iPhones debuting in the latter half of 2018,” so it looks like their information was spot-on once again.
Gold miners as a whole are looking inexpensive compared to broader equities. The average ratio of the NYSE Arca Gold Miners Index (GDX) and the S&P 500 Index (SPY) is 0.20 compared to the ten-year average of 0.68. While broader equities’ valuations have continued to increase, the valuations of gold stocks haven’t kept the pace, and the ratio has fallen.
Concerns about China’s economic growth have been among the key factors that spooked investors in 2018. The country’s economic growth rates have cooled off. President Trump has slapped tariffs on $250 billion worth of goods from China.
Major U.S. indexes ticked higher on expected news from the polls and the Fed. Here are some levels to watch out for in the week ahead.
When Amazon touched below $1500 (down over 25% from $2050) at the end of October, it did a couple of things technically. It finished an Elliott Wave major trend and became oversold on an RSI basis for the second time in October. It also broke through all support and ended up dangling under the 200-day moving average. That prompted several commentators to give up on it. I even heard one guy say that Amazon (AMZN) could be dead money for a decade. Hmmm. Clearly Amazon looks pretty damaged here, but with a little bit more of a bounce the 50-day moving average could flatten back out, and this drop look like a blip. How does it look from a fundamental and valuation perspective?
PPI cranked up to +0.6% for the month of October ??? roughly double what analysts had been expecting, and the highest month-over-month increase in the last 6 years.
On November 8, China released its trade data for October. The country’s trade data have received even more scrutiny this year amid the US-China trade war. The world’s two largest economies have been involved in a bitter trade war. They have imposed tariffs on billions of dollars of products.
Cisco (CSCO) stock rose 17% in 2016 and 30% in 2017. Cisco stock has risen 67% in the last three years and close to 102% in the last five years. In comparison, the SPDR S&P 500 ETF (SPY) and the PowerShares QQQ Trust, Series 1 ETF (QQQ) have returned 3.8% and 9%, respectively, in 2018. SPY has risen 7.7% in the last year, 38% in the last three years, and 71% in the last five years.
Buyers Gorge On Stocks On Election Outcome That Surprised No One, Bonds Not So Much Excepting those who expected to be surprised, nobody was surprised by the lack of surprise in the midterm elections. The midterms went exactly as predicted by most mainstream polls and the Dow shot up 545 points, the Nasdaq (NASDAQ:QQQ) nearly […] The post Market Morning: Buyers Gorge On Stocks, Tariffs Failing, Rate Decision, Pot Stocks Rally appeared first on Market Exclusive.
Despite crashing as much as 10% from a closing high set just over a month ago and losing its $1 trillion market-capitalization crown, tech behemoth Apple Inc. ( AAPL) is poised for a big rebound, according to Wedbush Securities analyst Daniel Ives. “We continue to encourage investors to see the forest through the trees on this name and view last week as the first step in the ultimate re-rating of the stock higher over the coming years,” wrote Ives, reaffirming his $310 price target on Apple’s stock, according to Barron’s, implying 48% upside. Ives’ bullish forecast, which is based on what he sees as strength in Apple’s services businesses, flies in the face of Bank of America Merrill Lynch’s downgrade of Apple’s shares at the end of last week.
Voting for Democrats was spectacular! A few weeks ago, we told investors that you really wanted to see the Democrats take the House. That way, we would get gridlock and a check on the president, maybe even some help with tariffs. Well, initially this looks to be right. The Dow Jones Industrials (DIA) are up 2% along with the S&P 500 (SPX), while the Nasdaq (QQQ) is up 2.5%. So far, so good.
Etsy Inc. (Nasdaq: ETSY) is up more than 20% in early trading following the release of its third-quarter earnings results after the market closed yesterday. Etsy’s very strong financial performance in the third quarter was driven by gross merchandise sales (“GMS”) increasing 20.4% year-over-year to $922.51 million, and this was helped by an 8% increase in active sellers to 2.043 million and a 17.2% increase in active buyers to 37.134 million. The new revenue outlook is much better than the consensus analyst estimate of $595.4 million, making it an all-around beautiful quarter.
The stars are aligned for a year-end rally that lifts major indices into modest but positive gains, rewarding market players who have suffered through the deepest correction since 2015. Rather, Wall Street greed and the hunt for annual performance by the world's biggest fund managers should now move to the top of the market's agenda and is unlikely to be dissuaded by rising yields, China tariffs or the rest of 2018's critical economic issues.
Turtle Beach (Nasdaq: HEAR), the world’s leading gaming headset and audio accessory brand, is down over 10% in the after-hours trading session following the release of its third-quarter earnings results. The company reported revenues of $74.4 million and net income of $0.91 per diluted share, which surpassed the preliminary results it provided on October 11 and beat analysts’ expectations of $73.4 million in revenue and $0.77 in EPS. As a result of its very strong performance in the third quarter, Turtle Beach raised its full-year outlook.
Apple’s (AAPL) stock has dropped from $233 in early October to fall as low as $198 before bouncing here to $203. The stock did hold the 150-day moving average, which fans of Carter Worth’s technical work will appreciate. It also got pretty close to being oversold on an RSI level. Take a look at the chart (Source: Bloomberg). Looks like it could be a good spot to try and bounce back to the 50-day moving average at least. That would become resistance. But do keep an eye on that 50-day moving average as it looks like it is rolling over (never a good sign). But is Apple really worth a buy here?
Symantec Corporation (Nasdaq: SYMC) is up over 13% as of 12:45 P.M. EST on news that it has been approached by private equity firm Thoma Bravo about a possible acquisition. No specifics have been provided and neither company has confirmed that the talks have actually taken place, so the surge in the stock is purely based on the rumor at this point.
Similarly, the Dow Jones Industrial Average (DIA) and NASDAQ Composite index (QQQ) ended October with about 8.1% and 5.1% losses, respectively. As of November 5, the S&P 500 index was up 0.6% month-to-date while the Dow and NASDAQ Composite were up 0.8% and down 0.4%, respectively. On the upside, no major resistance level is visible below the key resistance range of 2,785–2,815.
Activision Blizzard (ATVI) stock rose 2% in 2016 and 74% in 2017. Since the beginning of 2018, the stock has risen ~9.5%. ATVI has risen 5.4% in the last 12 months, 92% in the last three years, and close to 312% in the last five years.
GoPro (GPRO) stock fell 49% in 2016 and 17% in 2017. Since the start of 2018, it’s fallen ~28%. The stock has fallen 78% in the last three years and close to 84% since its IPO in June 2014.
Positive economic data and strong earnings could continue to offset political uncertainty as markets digest midterm election results this week.
The major indexes erased gains and were sharply lower Friday. A strong jobs report lifted Fed rate hike fears. Apple and dashed U.S.-China trade hopes also hit Wall Street.