|Day's Range||32.67 - 33.29|
October Retail Sales and Import Prices were decent, while November's Empire State Index and Industrial Production and Capacity Utilization were weaker than expected.
In the recent series of record highs, the S&P 500 crossed the 3,100 level for the first time ever. We have highlighted 10 best performing stocks in ETF that tracks this index.
U.S. markets and stock ETFs swayed between gains and losses Wednesday as a new round of uncertainty over trade talks between the United States and China weighed on sentiment. On Wednesday, the SPDR Dow Jones Industrial Average ETF (DIA) rose 0.3% while the SPDR S&P 500 ETF (SPY) was 0.1% higher. Weighing on investor confidence, trade talks hit a bump over Chinese purchases of U.S. agricultural goods, the Wall Street Journal reports.
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.
U.S. markets and stock ETFs strengthened Tuesday as President Donald Trump said the United States and China were closing in on a "phase one" trade deal but cautioned that he will still hold out if presented with an unfavorable proposal. On Tuesday, the Invesco QQQ Trust (QQQ) was up 0.5%, SPDR Dow Jones Industrial Average ETF (DIA) rose 0.2%, and SPDR S&P 500 ETF (SPY) was 0.4% higher.
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.