|Day's Range||1.9100 - 1.9100|
With the end of the year and the decade fast-approaching, Wall Street strategists have begun to deliver their expectations about where the stock market will close out 2020.
The financials disclosed in quarterly earnings reports are treated like the gospel by investors. David Trainer is the CEO of New Constructs. The company's data was used by the authors of the paper to show how certain more useful numbers were “hidden” in disclosures.
The Nasdaq and S&P 500 notched new record highs on Monday. Let's look at a few top stock trades going into Wednesday. Top Stock Trades for Tomorrow No. 1: S&P 500 ETF (SPY)In late October, the SPDR S&P 500 ETF (NYSEARCA:SPY) broke out over multimonth resistance near $300. Since then, it has continued to churn higher, only pausing momentarily to catch its breath.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPressing against $310 now, the ETF is starting to show technical signs of becoming overbought (blue circle).Perhaps the SPY is an excellent buy right here, right now for those with a one-year outlook. Maybe it's an excellent sell. No one will know until we're looking back in hindsight. * 7 Great High-Yield Stocks With Payouts Over 5% But as it stands, this is at least a chart that should give investors pause about near-term upside. The ideal scenario would be for a pullback down to the $300 level that holds as support. That would be an excellent "go-long" signal, especially ahead of a potential year-end rally.While stocks can continue higher, becoming more overbought may only make the ensuing correction worse. Should shares continue higher, there's a channel resistance mark between $318 and $320, depending on when the SPY ETF gets there.This isn't an alarmist call by any means, but perhaps a signal to consider booking at least some profits and/or holding off on initiating full-sized long positions. Top Stock Trades for Tomorrow No. 2: PayPal (PYPL)PayPal (NASDAQ:PYPL) was on fire for a while, but that rally has come to a painful end. Now, shares have been pulling back since July.The $94 to $95 area acted as support last month and PYPL stock is working on putting in a higher low (purple lows).While that's a positive development, this chart has a long ways to go before looking healthy on the long side. In short, bulls need to see PayPal clear downtrend resistance (blue line) and preferably the 200-day and 100-day moving averages as well.Below the recent low at $99.60, PYPL could retest its October low at $94.77. Top Stock Trades for Tomorrow No. 3: Disney (DIS)To much fanfare, Disney (NYSE:DIS) launched its Disney+ streaming service on Tuesday. Is it a sell-the-news event? Not necessarily.Shares have put together a relatively tight three-day range, which includes Disney's post-earnings reaction and the launch of its new flagship streaming service. In other words, it's important.Shares are over the 100-day moving average now, and this is the must-hold level of support. Below that and DIS could pay a visit to its 50-day moving average. $140.25 is the post-earnings high and the gatekeeper to higher prices. Beyond this mark and Disney shares can continue to push higher.So long as it's above the 100-day, DIS stock looks okay on the long side. Top Stock Trades for Tomorrow No. 4: Amarin (AMRN)Shares of Amarin (NASDAQ:AMRN) are scorching higher Tuesday, up almost 20%. The move filled the July gap near $21 before pulling back later in the session.Trading these big moves can be difficult, but we can use recent ranges to help pick our spots.Over Tuesday's high and the $21 gap-fill, and AMRN stock can rally to $23. This mark has been resistance for about a year now.If shares pull back, see if $19 can buoy the name. If not, the stock could pay a visit to the 200-day moving average, but we'll have to keep an eye on AMRN in this event, as buyers may step in before that. Top Stock Trades for Tomorrow No. 5: Overstock (OSTK)Because of Overstock's (NASDAQ:OSTK) wicked volatility, it's one of the few stocks on my personal "do not trade" list. However, just because I do not trade it doesn't mean others do not -- but they should be aware of the volatility, as the chart highlights on its own.Unfortunately for OSTK bulls, this stock made a very decisive move below support between $9 and $9.50, plunging below $8 at one point Tuesday. As long as it's below $9, I would consider Overstock a no-touch.A close back above $9 could get a squeeze going, potentially up to the $11.50 to $12 area. There are plenty of better stocks to bottom fish with than OSTK at this time, in my opinion.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long DIS. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Great High-Yield Stocks With Payouts Over 5% * 10 Blue-Chip Stocks to Buy for the End of the Year * 5 Retail Stocks Getting Nothing but Coal This Holiday Season The post 5 Top Stock Trades for Wednesday: SPY, DIS, PYPL appeared first on InvestorPlace.
Mark Cuban on Saturday joined a growing list of billionaires to openly criticize democratic presidential candidate Elizabeth Warren’s tax policy and healthcare plan. What Happened In a series of tweets ...
The Congressional inquiry into the possible impeachment of President Donald Trump enters a new phase this week when principal players in the president’s dealings with Ukraine testify publicly before a House committee. The committee is chaired by Rep. Adam Schiff, a California Democrat. The top U.S. diplomat still in Ukraine, William B. Taylor Jr., and George P. Kent, deputy assistant secretary in the European and Eurasian Bureau at the State Department, will be the first to appear, on Wednesday.
Corporate executives have been markedly upbeat about the U.S. economic outlook for 2020, based on management commentary about Q3 2019 earnings.
The financial sector is made up of companies offering services that are broadly aimed at helping individuals, firms, and other organizations to improve their financial returns and manage their money. Well-known companies in the sector include JPMorgan Chase & Co, (JPM), Goldman Sachs Group Inc. (GS), and BlackRock Inc. (BLK). Here are the financial stocks in the S&P 500 with the lowest 12-month trailing P/E ratio in the sector.
U.S. markets and stock ETFs were trying to regain lost ground Monday after the broad early declines in response to trade talk uncertainty. On Monday, the Invesco QQQ Trust (QQQ) was down 0.1%, SPDR Dow Jones Industrial Average ETF (DIA) rose 0.1%, and SPDR S&P 500 ETF (SPY) was 0.1% lower. The market optimism from last week soured on Monday after President Donald Trump said over the weekend that the United States would only sign a deal if it was the “right deal” for America, adding that the talks had moved more slowly than anticipated, Reuters reports.
These stocks are expected to new release products or services in the next year with massive sales potential, per analysis by Bloomberg Intelligence.
The broader market average all closed at record highs on Friday, as U.S. stocks added to recent gains this week. Financial names led the way higher, while real estate and utility stocks trailed the market.Investors kept a close eye on trade talks between the U.S. and China this week. While a formal resolution has yet to be announced, multiple press reports suggested the two sides could announce a “Phase One” deal before the next set of tariffs are scheduled to take effect, on Dec. 15.Earnings Parade EndingThird-quarter earnings season effectively ended this week, as 446 companies in the S&P 500 index have now announced results. 74% of the names have exceeded expectations, which is above the historical average. On the other hand, aggregate profit is on track to decline 0.5% for the period.Kroger (KR) was the big earnings-related winner this week. The grocery retailer gained 11% a session after providing upbeat profit guidance. On the other hand, online travel names Expedia (EXPE) and TripAdvisor (TRIP) both lost more than 20% a day after disappointing the market with their respective quarterly results.Looking ahead to next week, Cisco Systems (CSCO), Viacom (VIAB) and Wal-Mart (WMT) are scheduled to post quarterly reports. The bond markets are closed on Nov. 9 for the Veterans Day holiday and the economic calendar will be relatively quiet next week. Knowing what and when to buy can be challenging for any investor. However, the fact remains that attractive investments are out there, if you’re willing to dig a little deeper.One such consumer name with strong earnings momentum is worth a closer look and is our Stock of the Week below… Stock of the Week: CVS Health (CVS)The company is probably best known for its portfolio of nearly 10,000 retail pharmacies, but acquisitions over the past several years have broadened its business portfolio.CVS Health provides medical insurance to 38 million users through Aetna and covers pharmacy benefits for 102 million customers, by way of Caremark. In addition, the company treats patients directly through its network of over 1,100 Minute Clinics.The stock gained nearly 8% this week, as management delivered better-than-expected quarterly results on Wednesday.Looking ahead, these gains should keep on coming. Here’s why:The retailer earned $1.84 a share in the third quarter, as revenue increased 36% from the previous year, to $64.81 billion. The sales growth was primarily from the Aetna acquisition, which is approaching its first anniversary. Management said on the conference call that all of the company’s core businesses grew at or above plan in the period.Following the results, 5-stare Cantor analyst Steven Halper raised his price target on the stock to $85, citing:> “In our view, CVS is executing on its strategy to integrate medical and pharmacy offerings to drive differentiation in the marketplace, through efforts such as HealthHUB expansion. Over time, we believe this should drive continued share gains and improvement in operating performance across the company's business units. As the company executes on these initiatives, share valuation should expand from current levels.” CVS Health generates steady cash flow, which it returns to investors. The shares offer a quarterly dividend of $0.25 a share (1.4% yield). Management also paid down $2.9 billion of net debt in the most recent quarter.In the meantime, the company is attractively priced at just 10.1x expected full-year earnings of $7.21 a share. This is an 11% discount to the median industry value and well below the average market multiple.It’s also worth noting that CVS Health carries a Smart Score of 10/10 on TipRanks. This new proprietary metric utilizes Big Data to rank stocks based on 8 key factors that have historically been a precursor of future outperformance.On top of the positive aspects mentioned already, Smart Score says the company has seen positive sentiment from investment bloggers and news.FYI: This is just 1 of the 20+ stocks selected for the Smart Investor portfolio. That’s where we share more detailed insights on our weekly stock picks. You may also want to learn more about how we use TipRanks indicators to find stocks that are primed to outperform. (Discover the Smart Investor portfolio here)