|Day's Range||15.57 - 16.36|
Crude oil prices jumped as Iran shot down a U.S. drone. The S&P 500 closed at a new all-time high, and gold prices skyrocketed.
Here's a look at Koch Industries and the owners, brothers Charles and David, that make up the second-richest family in America.
The BAML survey highlighted the fact that investors are very bearish on growth expectations. A net 50% of the respondents expect global growth to weaken over the next 12 months. A record number of investors said that the global economy was in the late cycle.
Bank of America Merrill Lynch conducted a survey that polled 230 global investors with $645 billion in total assets under management between June 7 and June 13. The asset allocation of fund managers implies recessionary conditions.
The S&P 500 gapped up to new all-time highs on Thursday, but quickly found responsive sellers up at that level. That's not too surprisingly, although it did sap some of wind from the bulls' sails. The question now is, will longs step up and continue buying or will we top out yet again near current levels? Top Stock Trades for Tomorrow 1: S&P 500 Click to EnlargeThe chart shows the S&P 500 banging its head up against the 2,950 level, while investors can also use the SPDR S&P 500 ETF (NYSEARCA:SPY) to follow the index if they prefer.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's crazy to think about the market we've had over the past nine or ten months. And amid all that drama -- trade wars, rate hikes, a 20% selloff in Q4 -- the SPX is right back to where it was in September. * 6 Stocks Ready to Bounce on a Trade Deal For me, it's hard to imagine that we end yesterday's Fed day stable (and still up big over the past two days), then gap up to new all-time highs today, only to see the whole thing fall apart. That doesn't mean we can't see some selling pressure up here or that a pullback won't happen.It's only to say that the market has had enough time to digest the Fed's comments to decide whether its good or bad for stocks. So far, they're voting that it's good. Let's see how we end the week and whether a triple top ends the run or if 3,000 on the S&P 500 is possible. Top Stock Trades for Tomorrow 2: General Electric Click to EnlargeGeneral Electric (NYSE:GE) is breaking out, as the stock continues to push higher and is technically through resistance. It's now above $10.50, a level we've been watching closely in the name. If this level again acts as resistance, see that the stock doesn't fall below its 200-day moving average. If it holds $10 and its 20-day moving average, all the better.From here though, let's see if $10.50 can turn from resistance into support. Staying above this mark could pave the way to $11.25+ now. Especially considering that the stock is not yet overbought. Top Stock Trades for Tomorrow 3: Netflix Click to EnlargeThe setup above may look familiar in Netflix (NASDAQ:NFLX). That's because not all that long ago we called NFLX a buy at $340 range support.Shares have since rallied $26 apiece and pushed through both the 20-day and 50-day moving averages, as well as short-term downtrend resistance (blue line). If it can clear $370, $380 range resistance is possible. Below $355 -- the 20-day -- and a retest of $340 range support is back on the table.Keep it simple, until NFLX stock makes it harder. Top Stock Trades for Tomorrow 4: Kroger Click to EnlargeShares of Kroger (NYSE:KR) are down about 2% after the company reported earnings, as this name continues its unhealthy trend lower.Not only is the 10-week moving average acting as clear resistance, but shares remain stuck in a clear trend. Short-term downtrend resistance (blue line) continues to squeeze KR lower, while longer term resistance (purple lines) isn't doing Kroger any favors either.Now what?$23 has proven to be a key level. Below this and channel support just below this week's lows are on the table. Below that and KR could fall into no man's land, with multi-year lows lingering between $19 and $20. If it holds, a retest of the 10-week moving average is on the table. Over the 10-week moving average and downtrend resistance, and KR can garner some upside momentum. Top Stock Trades for Tomorrow 5: Gold Click to EnlargeInterestingly, gold is making a powerful move to multi-year highs at the same time the stock market is. That's as the Fed appears set to cut rates in the not-too-distant future. That devalues the U.S. dollar and typically gives a boost to commodity prices.That's why the SPDR Gold Trust ETF (NYSEARCA:GLD) is bursting higher. It's also why we said Barrick Gold (NYSE:GOLD) could breakout, which is adding to its gains on Thursday. * Check Out These 5 Fast-Growing Stocks to Buy Today So now what? I want to see GLD stock hold the $128 to $130 breakout range. For really patient investors, above $126 is still technically okay. Still, I'd rather see it hold a multi-year breakout level rather than just a 2019 breakout level. Over $130 and more gains are possible.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Blue-Chip Stocks to Buy for a Noisy Market * 5 Strong Buy Biotech Stocks for the Second Half * 6 Stocks Ready to Bounce on a Trade Deal Compare Brokers The post 5 Top Stock Trades for Friday: SPY, GE, NFLX, Gold appeared first on InvestorPlace.
On June 20, US tech giant Apple (AAPL) saw its stock open on a bullish note. It posted a high of $200.61, up 1.4% from its previous session’s closing price. Earlier today, a sharp rally in large US companies, including Oracle (ORCL) and Apple, helped the S&P 500 Index (SPY) reach record highs.
These low-volatility and buy-write ETFs have been hovering around 52-week highs. Investors can hedge with these products as bearish sentiments are rife in the market.
This morning the US stock market opened on a strong bullish note after the Federal Reserve hinted at a cut in interest rates yesterday. Also, renewed US-China trade optimism helped the S&P 500 Index reach new heights today. The world’s two largest economies have started trade negotiations once again ahead of US President Donald Trump and Chinese President Xi Jinping’s meeting next week.
Iran’s Revolutionary Guard said Iranian forces shot down the unmanned drone, and the U.S. confirmed it, but the two countries disagree on where the incident took place and whether the drone was in or had been in Iranian airspace. The Guard said it shot down the drone in Iranian airspace over the coastal province of Hormozgan using a truck-based missile system, according to Iran’s Fars news agency. U.S. Central Command confirmed that the drone, a U.S. Navy Broad Area Maritime Surveillance (or BAMS-D) aircraft, was shot down by an Iranian surface-to-air missile system on Wednesday evening Eastern time, or early Thursday in Iran.
As the FOMC aggressively hinted at future rate cuts, the S&P 500 drifted higher and the 10-year Treasury yield hit a multi-year low.
The CME Group launched micro e-mini contracts for the S&P 500, Russell 2000, Dow Jones 30 and Nasdaq100 indices at a much lower cost than the existing e-mini futures.
Right now, the FOMC meeting is underway. Fed Chair Jerome Powell and company are likely deliberating about whether the economy has overheated, whether the trade war could linger, whether the job market has peaked, and how to push inflation up, among a host of other matters.
As the FOMC meeting progresses, markets seem cautious. After rising 0.97% yesterday on easing trade tensions and a growing tribe of rate cut hopefuls, the S&P 500 is trading on the sidelines today. Here's what a cut today could mean for these stocks.
US equity markets rallied yesterday, and the S&P 500 (SPY) gained almost 1.0%. Markets have now largely recouped their May losses. Along with the dovish stance taken by European Central Bank President Mario Draghi, positive comments on US-China trade talks lifted markets yesterday.
In June, the US market started on a positive note. There was optimism that the Fed would deliver some good news in its meeting this week. After the retail sales report last week, the economy breathed a sigh of relief.
Yesterday, President Donald Trump officially launched his 2020 reelection campaign in Florida. We're now more than halfway into his presidency, so the question now is whether President Trump has delivered on his 2016 promises.
If the Fed doesn't signal significant easing ahead, the markets could nosedive. Many analysts agree that the markets might be overpricing the Fed's rate cuts this year.
This afternoon, Fed Chair Jerome Powell is expected to give public remarks on the state of the U.S. economy, even though expectations are low he will be announcing a 25 basis-point interest rate cut.
We saw a sharp rally in US markets yesterday. The S&P 500 (SPY) gained almost 1.0%. European Central Bank President Mario Draghi hinted at more stimulus amid the region’s sagging economic growth. While the move lifted markets, President Trump wasn’t very happy.
Yesterday, the Dow Jones Industrial Average (DIA) settled near the 26,465 level with about 1.4% gains for the day. The index rallied after President Donald Trump said that he would be meeting President Xi Jinping next week on the sidelines of the G-20 Summit in Japan.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? In 1972, 11 athletes from Israel were murdered by an Arab gunman at the Munich Olympics. Five White House operatives were arrested for burglary in Washington as part of what would become known as the Watergate Scandal.