|Day's Range||0.0100 - 0.0100|
The 2019 coronavirus or COVID-19 has infected over 82,000 people globally and roiled financial markets. Some are concerned and others view this as an overreaction. Here's what they're saying.
'Experience has taught us that global market shocks have generally created opportunities in specific businesses or entire sectors, especially for patient investors that are able to take a longer view' Continue reading...
The SEC has shut down another Bitcoin ETF citing market manipulation fears, and charges actor Steven Seagal for failing to disclose promotional payments.
The markets were hammered in late-morning trading, bounced in midday trading and are fading in the afternoon. That said, here's a look at a few top stock trades, as volatility remains high. Top Stock Trades for Tomorrow No. 1: S&P 500 ETF (SPY) Click to Enlarge Source: Chart courtesy of StockCharts.comLet's look at the SPDR S&P 500 ETF (NYSEARCA:SPY), because it's not often we see the S&P 500 unwind more than 11.5% in just five trading days. In fact, over the last two decades, it's only happened seven times. Three of those times came during the dot-com crash, and two of them came during the Great Recession.Given the uniqueness of those two events, we can also say it's only happened twice in the last 11 years. In any regard, what does it mean from here?InvestorPlace - Stock Market News, Stock Advice & Trading TipsI have said it so many times that I've lost count now: There will be economic repercussions due to coronavirus.For some reason, the SPY ignored that fact for weeks, even though it was glaringly obvious. There was also the interesting observation of safe havens like bonds and gold rallying alongside equities. Just this week we mapped out a potential retracement to the $300 level for the SPY.To get there, it required around a 11.5% pullback from the highs. And with a low of under $300 today, we got the pullback we were looking for.Now, we need to see if this low sticks or if more lows are coming. On the upside, let's see if SPY can rally to its 100-day moving average. Above that puts $320 on the table. On the downside, though, it has the prior breakout level near $300, the 200-day moving average and the 50% retracement all nearby.We may get an eventual retest of Thursday's low, and it may even break. The question will then be whether the break is temporary and we quickly reclaim those lows, or if it will ignite another decline. * 7 Safe Stocks to Buy on the Coronavirus Dip Until then, keep it simple. Top Stock Trades for Tomorrow No. 2: Apple (AAPL) Click to Enlarge Source: Chart courtesy of StockCharts.comA lot of investors have their eyes on Apple (NASDAQ:AAPL) -- and why shouldn't they?The stock is leaning into a notable level of support here. It's got the 100-day moving average near $279, a noteworthy level of consolidation from December near $280 and a potential uptrend support line (blue line) nearby.On a rebound, let's see if AAPL can reclaim $290. If it can, $300 is possible, along with the 50-day moving average. If support fails and Apple takes out the low from Thursday, however, the 61.8% retracement at $268 is possible. Below $268, and the next stop may very well be $250.We were just talking about Apple showing signs of waning momentum. Let's see if the market can find its footing and hold Thursday's low for a bit, giving others -- like Apple -- a chance to bounce. Remember, if you're going to trade this current market environment, keep your trade size appropriate. Top Stock Trades for Tomorrow No. 3: Square (SQ) Click to Enlarge Source: Chart courtesy of StockCharts.comOne stock showing some monster relative strength is Square (NYSE:SQ). Shares were up more than 11% at one point, but are still up nicely on the day.From here, bulls will want to see $82 and the 20-day moving average hold as support. Below, however, puts $74 and the 50-day moving average on the table. Above keeps current resistance near $86 in play. Above $86, though, and a run to $90 is possible. * 3 Stocks Benefiting From Growth in India If the market gives us a decent bounce, SQ could be a go-to name for short-term traders. Top Stock Trades for Tomorrow No. 4: Starbucks (SBUX) Click to Enlarge Source: Chart courtesy of StockCharts.comStarbucks (NASDAQ:SBUX) shares hit a low of $77.36 on Thursday and are trying to bounce. The company's growth plan in China is certainly set to take a hit as a result of the coronavirus, and the stock is still trying to price that in.If shares can reclaim $81 -- and that's a big "if" at the moment -- then a move up toward $85 is technically possible. Above there and SBUX will face pretty stiff resistance, though, with all of its major moving average and downtrend resistance coming into play.If it loses Thursday's low, then technically, $74 is possible.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AAPL and SBUX. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Safe Stocks to Buy on the Coronavirus Dip * 7 Stocks to Buy Down 10% in the Last Week * These 4 Stocks to Sell Are Melting Down Now The post 4 Top Stock Trades for Friday: SPY, AAPL, SQ, SBUX appeared first on InvestorPlace.
'In the face of this anxiety, we want to explain how we’re factoring in the possible significance of this virus on the value of your investments,' Portfolio Manager Win Murray writes Continue reading...
If US intelligence officers get their hands on information about a catastrophic imminent terrorist attack with unknown origins that will kill 250,000 Americans within the United States if unchecked, what should the president of this country do? Right now, there are thousands of unsuspected bio-terrorists armed with a deadly virus that kills one out of […]
"It's possible this could be an instance of community spread of COVID-19, which would be the first time this has happened in the United States," the CDC said in a statement. The patient could have been infected by another unidentified person who recently traveled to an affected area, the institute added. This was the 15th confirmed case of the coronavirus in the United States, not including the people who were expatriated back to the United States from affected countries.
If you have been talking anything about the coronavirus, then this is the episode for you. We touch on every facet of the subject and give you a deep dive into how investors could be navigating this volatile market.
Tuesdays are supposed to mark turnarounds in the market, moving in the opposite direction after a big move on Monday. Not this time! After cratering 112 points on Monday, the S&P 500 (SPY) fell another 98 points, with a two-day decline of 6.3%. That's the largest two-day loss since August 2015. The most recent two-day decline of over 6% was when the market was correcting after its parabolic move from late 2017/early 2018.
Democratic 2020 presidential hopefuls took head-to-head for the 10th time on Tuesday night in South Carolina debate ahead of the primary to be held on Saturday. With things heating up in the last debate in Nevada, the candidates took it further up a notch, this time frequently talking over each other and the moderators. Late entrant to the race Michael Bloomberg, who was thrashed by the Democratic rivals in the last debate over racism and sexism, seemed to hold his ground better this time around.
San Francisco declared a "local emergency" on Tuesday over fears of the novel coronavirus (COVID-19) taking hold in the city. No case of the deadly virus has yet been confirmed in San Francisco. Mayor London Breed said that the local government is trying to "step up preparedness" as the COVID-19 spreads internationally, not giving it a chance to find roots in the city.
The White House said late Monday that the funding would be used for the research efforts to develop a vaccine against the virus and to purchase treatment and preventative equipment and supplies. At least 53 cases have been confirmed in the United States by press time according to Johns Hopkins University data, as global tally crosses above 80,000. "Today, the Administration is transmitting to Congress a $2.5 billion supplemental funding plan to accelerate vaccine development, support preparedness and response activities and to procure much needed equipment and supplies," White House budget office spokeswoman Rachel Semmel said, according to the Associated Press.