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Markets Brace For Jobs Report & Tech Continues 5-Day Rally – Daily Financial News Summary For August 6, 2020

Thursday saw a late surge in tech, which we’ll get to in a minute, but first, the Dow Jones rose 0.7%, the Nasdaq climbed 1%, and the S&P 500 was up 0.6%. The Stoxx Europe 600 Index lost 0.7%.

The tech industry continued to charge today with Apple reaching another record high and being up 3.5%, while Facebook rallied 6.5% higher, Netflix and Alphabet both closed 1% higher. Microsoft also saw a 1.6% gain.

Gold climbed above $2,050 an ounce in a fifth straight day of gains and finished the day 1.2% higher to settle at $2,061.90 an ounce. Meanwhile, the West Texas Intermediate crude fell 0.4% to $42.03 a barrel. Copper fell 0.1% to $2.9135 per pound.

The first major professional golf tournament of the year kicked off in San Francisco at TPC Harding Park. It is the PGA Championship and as we publish Thursday evening, Jason Day sits alone atop the leaderboard at -5, while nine players are tied at -4 in second place. A few players were still out on the course.

The big news for Friday is the July U.S. jobs reports which are expected.

https://callputstrike.com/2020/08/06/markets-brace-for-jobs-report-tech-continues-5-day-rally-daily-financial-news-summary-for-august-6-2020/

Crypto Exchange Tauros.io Partners With Dash To Launch First Visa Crypto Debit Card In México

There is good news for Latin America crypto users following Tauros.io cryptocurrency exchange’s partnership with Dash to launch Visa cryptocurrency debit cards. Initially, the Visa crypto debit cards will be available to Mexican users only.

Latin America has been leading in championing the adoption of cryptocurrency, and it seems the efforts are bearing fruits. Dash and Tauros, which operate in digital asset services, have partnered to facilitate the launch of the first-ever crypto debit card in the region. For Tauro’s customers in Mexico, they can now spend Bitcoin, Dash, or any other cryptocurrency in various stores across the country that accept Visa cards.

https://callputstrike.com/2020/08/06/crypto-exchange-tauros-io-partners-with-dash-to-launch-first-visa-crypto-debit-card-in-mexico/

ADP Private Payroll Report Disappoints & Disney Climbs – Daily Financial News Summary For August 5, 2020

Wednesday kept things in the green as the Nasdaq advanced 0.4%, the S&P 500 was up 0.6%, and the Dow Jones rose 1.4% and hit a 4-day winning streak. The Stoxx Europe 600 Index gained 0.5%. The yield on 10-year Treasuries added four basis points to 0.54%.

While our after-hours reporting showed Disney remaining flat, today, the shares saw a 8.8% gains.

Another gainer for Wednesday was Novavax, whose shares popped 10.4% after the company reported phase one vaccine trial results that demonstrated a positive immune response among patients.

More good news on the fight against COVID-19 came from Johnson & Johnson when they announced they struck a $1 billion deal with the U.S. government to manufacture 100 million doses of its coronavirus vaccine candidate if it proves successful. As a result, their shares rose 0.8%.

https://callputstrike.com/2020/08/05/adp-private-payroll-report-disappoints-disney-climbs-daily-financial-news-summary-for-august-5-2020/

Defiance Nasdaq Junior Biotechnology ETF And ALPS Medical Breakthroughs ETF: ETFs To Watch In Biotech And Healthcare Sectors

Defiance Nasdaq Junior Biotechnology ETF (NASDAQ:IBBJ) is the latest addition as Exchange Traded Funds continue to elicit strong demand, given the strong bullish momentum in the equity market. With investments in the equity market edging high amid growing concerns over an extended stock market, the ETF seeks to provide targeted exposure to the biotech space that has been doing exceedingly well amid the disruptions fuelled by COVID-19 pandemic.

https://callputstrike.com/2020/08/05/defiance-nasdaq-junior-biotechnology-etf-and-alps-medical-breakthroughs-etf-etfs-to-watch-in-biotech-and-healthcare-sectors/

Netflix Chills With Missed Earnings & Bond ETFs Big Promise – Daily Financial News Summary For Thursday, July 16, 2020

Thursday saw all markets close in the red. The Dow Jones was down 0.5%, while the Nasdaq dropped 0.7% and the S&P 500 dipped to 0.3%.

Amazon had a slightly down day by 0.3%, which left it sitting just below the $3,000 mark at $2,999.90. Microsoft and Apple both sunk by over 1%. Netflix was up 0.8% at the end of the day pending earnings reports, which missed estimates and sent the stock plummeting around 10% in after-hours trading to $461.29 at its low point at the time of publishing.

READ MORE: https://callputstrike.com/2020/07/16/netflix-chills-with-missed-earnings-bond-etfs-big-promise-daily-financial-news-summary-for-thursday-july-16-2020/

Federal Reserve Policy Boosts Bonds In Era of Low-Interest Rates

The U.S bond market has always been bigger than the stock market, and the trend is not expected to change anytime soon amid a dovish outlook in the sector. Immediate data indicates that over $40 trillion is invested in the bond market against $30 trillion in the stock markets.

Bonds have always been a firm favorite for investors, given the guaranteed returns on offer when dealing with high-quality bonds. While stock markets guarantee investors high returns, the risk that investors must contend with is always high.

In the run-up to the COVID-19 crisis, bonds were on high demand as investors rushed to take advantage of a high-interest rate. Bonds sold by blue-chip companies sold off as investors rushed to get hold of high coupons.

Sentiments in the bond market nosedived in the wake of the Federal Reserve passing a string of fiscal and stimulus plans to protect the market in the wake of the pandemic. Sentiments hit an all-time low as the U.S cut interest rates to record lows all in the effort of boosting liquidity levels.

While a dovish monetary policy by the Federal Reserve is likely to keep interest rates at all-time lows, investors will continue to bet on riskier corporate bonds to eke out higher returns.

READ MORE: https://callputstrike.com/2020/07/16/federal-reserve-policy-boosts-bonds-in-era-of-low-interest-rates/

Bonds, ETFS, Gold, Investing, Market Insider, News, Stock Market, Trader Talk

Bearish Bitcoin, Twitter Gets Hacked & Goldman Sachs Surges – Daily Financial News Summary For Wednesday, July 15, 2020

Today we’ll consider the extended tax deadline edition…

The middle of the week kept the market’s spirits high. The S&P 500 and the Dow Jones were both up 0.9%, while the Nasdaq was up 0.5%, while the small-cap stock index, the Russell 2000, decided today was the time to climb. It grew 3.5% for the largest single-day gain since early June.

While areas of the stock market remain volatile, Bitcoin has been seeing a somewhat unusual run of stability. Bitcoin (BTC) slipped 1% over the previous 24 hours with a 24-hour range of $9,153-$9,279. This puts it below the 10-day and 50-day moving average, which some are saying is a bearish signal after optimism the cryptocurrency would see its value surpass $10,000 in the near future.

Jack Tan, the founding partner of Taiwan-based firm Kronos Research, said, “Trading bitcoins is about as exciting as sitting in traffic, I’m guessing bitcoin’s time will come in the next couple of months, but for now just enjoy the altcoin and equities rallies.”

Moderna stock price rose 6.9% following information published by the New England Journal of Medicine showing Moderna’s coronavirus vaccine produced neutralizing antibodies in all 45 patients in its early stage human trial.

READ MORE: https://callputstrike.com/2020/07/15/bearish-bitcoin-twitter-gets-hacked-goldman-sachs-surges-daily-financial-news-summary-for-wednesday-july-15-2020/

What Has The U.S-China Trade-War Taught Us After One Year? Winners vs. Losers

One year since it started, the U.S-China trade war is far from over, having had casualties and disrupting the way countries trade with each other. The most significant casualties have been U.S and Chinese companies that have had to change their investment plans in the two countries and how they do business.

READ MORE: https://callputstrike.com/2020/07/15/what-has-the-u-s-china-trade-war-taught-us-after-one-year-winners-vs-losers/

Bitcoin, Cryptocurrency, Investing, Market Insider, News, Stock Market, Trader Talk

Wells Fargo Misses Earnings, Tech Titans Tilt Downward & COVID Climb Continues – Daily Financial News Summary For Tuesday, July 14, 2020

What goes down, must come up. Another tumultuous day in the markets. The S&P 500 was up 1.4%, the Nasdaq up 1%, and the Dow Jones managed to climb 2.3% on Tuesday.

While the markets were up, some of the tech titans saw losses, including Amazon and Netflix being down more than 1%, while Facebook and Alphabet/Google, were down just 0.1%.

Netflix saw losses after it was downgraded by UBS from buy to neutral over concerns of the stock being overvalued. It is up 60% on the year, much of which is a result of more people staying at home due to Coronavirus quarantines. While it closed being down just around 1%, at moments in the trading day, it was down as much as 6.7%.

Wells Fargo had a tough earnings reporting day after revealing it would be cutting its dividend to 51 cents per share, which is 10 cents less than prior dividends. They also reported a $2.4 billion loss, which resulted in a 5% slide in the share price.

JP Morgan Chase, on the other hand, saw a 79% leap in trading revenue to $9.7 billion as a result of equities and bond trading. They also exceeded the total revenue estimate of $30.3 billion with revenues reaching $33 billion. It closed the day 0.57% higher.

https://callputstrike.com/2020/07/14/wells-fargo-misses-earnings-tech-titans-tilt-downward-covid-climb-continues-daily-financial-news-summary-for-tuesday-july-14-2020/

Five Personal Finance Lessons The COVID-19 Pandemic Has Taught Us

The COVID-19 Pandemic has dramatically affected the social and financial lives of people. Many businesses have been impacted, resulting in reduced salaries and even furloughing employees as uncertainty continues to grow. The pandemic has taught several lessons about personal finances that they can adapt to when facing an economic downturn. Here are five personal finance lessons from the COVID-19 pandemic:

The first lesson that the pandemic has taught us is that our finances are fragile, evidenced by the growing unemployment. Most people have lost their sources of income, which further stresses the need to have an emergency fund. With the pandemic realities, those who still have income have realized the need to save more every month.

https://callputstrike.com/2020/07/14/five-personal-finance-lessons-the-covid-19-pandemic-has-taught-us/

Tesla’s Wild Ride While Markets Rise & Fall On COVID Concerns – Daily Financial Summary For Monday, July 13, 2020

The S&P 500 ended the day down 0.9%, the Nasdaq was down 2.1%, while the Dow Jones managed to sneak back up to positive territory at the close of the markets to be up about 0.04%.

The S&P 500 touched positive territory for 2020 just briefly today, before markets turned downward following there morning rallies out of the weekend. The Nasdaq was up as much as 1.95% before tumbling to close the day 2.1% in the red. The Dow and S&P 500 were coming off of two weeks of gains, and the Nasdaq was on a three-week run. It remains unseen how the rest of the week will play out.

Tech industry leaders Facebook, Alphabet, and Amazon fell at least 1.7% on the day, despite the optimism that these companies remain limited by COVID-19 impacts among investors.

READ MORE: https://callputstrike.com/2020/07/13/teslas-wild-ride-while-markets-rise-fall-on-covid-concerns-daily-financial-summary-for-monday-july-13-2020/

ETF TRENDS: Top Exchange Traded Funds (ETFs) To Earn At Least 3% Yield

Interest rates, at record lows, have made it extremely difficult for investors to generate solid current income in the capital markets. The situation is the same in many countries, given the meager interest rates from government bonds. Traders are increasingly turning to Exchange Traded Funds, or ETFs, to bolster investment portfolios given their sizeable and benchmark beating yields.

High yielding ETFs are increasingly providing investors with avenues to compensate for capital losses in the equity markets. ETFs that offer 3% yields and above and have decent price performance could be the best alternatives for riding the challenging environment fueled by COVID-19.

Amid the disruptions triggered by COVID-19, some ETFs continue to outperform the overall stock market at the back of a perfect opportunity fuelled by the pandemic. ETFs focused on e-commerce outlets have emerged as ideal investment alternatives for riding out the challenging investment environment.

READ MORE: https://callputstrike.com/2020/07/13/top-exchange-traded-funds-etfs-to-earn-at-least-3-yield/

ETFS, Investing, Market Insider, News, Personal Finance, Stock Market, Trader Talk

Gilead’s Coronavirus Treatment Leads Market Optimism To Close The Week Higher – Daily Financial News Summary for Friday, July 10, 2020

The S&P 500 climbed 1.05% to 3,185.04. The Dow Jones Industrial Average gained 369.21 points, or 1.44%, to close this week at 26,075.30.  The Nasdaq closed in the green and was up 0.66% to 10,617.44.

Optimistic news about remdesivir, a potential coronavirus treatment from Gilead Sciences, contributed to the rally in the markets despite a slow start in the morning. Gilead Sciences said of remdesivir that it “was associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality compared with standard of care.”

Amazon also saw a 0.5% bump to put it at another record high price after Citi increased its target price to $3,550. Meanwhile, Netflix continued its record-breaking closes this week as it was up 8%

https://callputstrike.com/2020/07/10/gileads-coronavirus-treatment-leads-market-optimism-to-close-the-week-higher-daily-financial-news-summary-for-friday-july-10-2020/

U.S Real Estate Blossoming amid Strong Industrial Warehouse Demand for E-Commerce

The real estate bubble was the catalyst behind the 2009 financial crisis. Fast forward, the global economy is on the cusp of yet another economic meltdown, fueled by the COVID-19 pandemic. Even as key sectors in the U.S economy continue to reel from the effects of COVID-19, real estate has emerged as a soft spot, doing exceedingly well amidst the challenges.

COVID-19 has changed the way people live as it continues to rattle key sectors of the global economy. The social distancing measures put in place to curb the spread of the virus has, to a great extent, changed the way people do shopping to the extent of reinvigorating the industrial real estate segment.

Shoppers are no longer flocking to brick and mortar stores for shopping. Shopping online and having the items delivered to consumer’s doorsteps is a trend that has increased in the U.S. With the change, e-commerce platforms are enjoying a booming business.

https://callputstrike.com/2020/07/10/u-s-real-estate-blossoming-amid-strong-industrial-warehouse-demand-for-e-commerce/

Dogecoin Explodes To Two-Year Highs Following Tik-Tok Pump Challenge

https://callputstrike.com/2020/07/10/dogecoin-explodes-two-year-highs-on-tik-tok-challenge-pump/

Florida Coronavirus Cases Spook Markets While Tech Rides High – Daily Financial News Summary For Thursday, July 9, 2020

Mixed markets today as the Nasdaq reached record highs after closing up 0.5%, while the Dow Jones slid 0.5% and the S&P 500 fell 0.6%.

Some of today’s biggest winners were Amazon, which was up 3.3%, Costco was up 2.915%, while Walmart closed up 2.66%.  Video game company Electronic Arts saw shares go up 2.35%.

While many were up today, Walgreens Boots Alliance saw shares dive 7.8% as a result of their missed earnings. Much of the negative reaction was attributed to their Boots UK stores low sales numbers from low foot traffic due to stay-at-home orders. They plan to cut 4,000 jobs in the Boots UK business as a result.

Others that saw losses included Kohl’s retail and United Airlines, which both were down 7.25%. Oil and gas stocks also took a hit with Hess Corp down 9.4%, Phillips 66 down 7.8%, and Marathon Oil down over 7% today.

https://callputstrike.com/2020/07/09/florida-coronavirus-cases-spook-markets-while-tech-rides-high-daily-financial-news-summary-for-thursday-july-9-2020/

Hong Kong National Security Law Threat To U.S Tech Giants And Financial Institutions

China imposing Hong Kong Security Bill 2020 and the U.S retaliating with a new sanction bill is a tailwind that threatens U.S companies’ operations in the former British colony. The security law has already had its first casualty, ByteDance, has announced it is ending support for video service TikTok in Hong Kong.

With the passing of the Hong Kong national security law, Beijing now has sweeping powers to prosecute any entity it perceives as a threat to national security. On its part, Washington has responded the best way it knows, fearing its interests in the semi-autonomous region are at considerable risk.

The U.S Congress has already passed a bill that establishes penalties to foreign persons or entities that undermine Hong Kong one country, two systems, under the new security law. The bill gives the government of the day the power to block assets and deny U.S entry to entities that implement the security law.

https://callputstrike.com/2020/07/09/hong-kong-national-security-law-threat-to-u-s-tech-giants-and-financial-institutions/

Apple & Coronavirus Hits Record Highs, While Twitter “Gryphon’s” Higher – Daily Financial News Summary for Wednesday, July 8, 2020

Today saw the Dow Jones rise 0.7%, the S&P 500 went up 0.8%, and the NASDAQ saw gains of 1.2% and put it on the books for a record high day at 10,492.50.

Speaking of records, Apple also saw 2.3% gains to close the day at a record high of $381.37 after Deutsche Bank analysts gave them a positive price target increase. Amazon also saw 2.7% gains, while Netflix and Microsoft also closed over 2% higher.

Social media platform Twitter also saw an unusual uptick in share price, closing over 7% higher on the day as a result of a job posting for a code-named project “Gryphon.” The job posting made mention of a subscription platform and feature, which excited the markets and had the share price up over 12% at a point in the day.

Bed Bath & Beyond (NASDAQ: BBBY) announced after the closing bell that their sales fell nearly 50% to $1.31 billion from $2.57 billion a year ago. In an effort to try to get back to profitability, the company also announced they will be closing close to 200 stores over the next two years. The news resulted in a 7% drop in after-hours trading.

https://callputstrike.com/2020/07/08/apple-coronavirus-hits-record-highs-while-twitter-gryphons-higher-daily-financial-news-summary-for-wednesday-july-8-2020/

Microsoft Eyes Warner Bros To Expand Gaming Division

Microsoft Corporation (NASDAQ: MSFT) has joined the fray in the acquisition of Warner Bros Interactive Entertainment. The acquisition would allow the tech giant to strengthen its gaming division, having already acquired several game-development studios in the recent past.

AT&T Inc. (NYSE:T) is looking for potential buyers of the Interactive Entertainment division as it seems to generate additional capital to shrug off the effects of the COVID-19 pandemic. The company is also looking to pay down part of its debt that has ballooned to highs of $154 billion.

The wireless carrier acquired Time Warner for $109 billion in 2018, conversely gaining access to Warner Bros Interactive Entertainment. The acquisition is believed to be the primary catalyst behind the massive debt holding.

https://callputstrike.com/2020/07/08/microsoft-eyes-warner-bros-to-expand-gaming-division/

Trump Vows Schools Reopen & Travel Stocks Sink – Daily Financial News Summary for Tuesday, July 7, 2020

After a big day of gains yesterday, today’s results rebounded back and we saw losses across the markets, including a slide just before the closing bell to put the markets deeper in the red. The Dow Jones closed down 1.51%, the S&P 500 was down 1.08%, while the NASDAQ ended down 0.86%. This ended five days in the green for the NASDAQ and the S&P 500.

Travel stocks continue to suffer as the yo-yo effects of reopening and COVID threats impact travel domestically and internationally. Norwegian Cruise Line and Carnival were both down by more than 5% each, while United Airlines was down by 7.6% as they announced additional furlough and layoff warnings. American Airlines also saw it’s stock close the day 6.95% lower.

Levi Strauss & Company announced that sales were down 62% in the second quarter and that the company also plans to cut about 15% of its global workforce as a result. That dive in sales was a result of their retail locations being closed for nearly 10 weeks and their need to rely on online sales, which could not cover the retail sales.

According to Peter Cardillo, the chief market economist at Spartan Capital Securities, “This market is way overbought. This market has been ignoring the potential problems that are going to arise from the coronavirus.”

President Donald Trump plans to keep schools on track to be reopened in the fall despite COVID cases continuing to grow, he said in a White House event today. More than 50 million children attend school in the United States.

“We’re very much going to put pressure on the governors and the schools to reopen, open your schools in the fall,” the President said.

TikTok, owned by Beijing-based ByteDance, is again become a target on the radar of another government. After India announced bans of TikTok this past week, among other Chinese technologies, Secretary of State, Mike Pompeo, said Tuesday that the United States is also looking at banning the popular social media app, along with other Chinese social media apps that may be creating national security concerns.

https://callputstrike.com/2020/07/07/trump-vows-schools-reopen-travel-stocks-sink-daily-financial-news-summary-for-tuesday-july-7-2020/

Stock Insights: Samsung Q2 Profit Up 23% Amid Covid-19 Disruptions

Samsung Electronics Co., Ltd (OTCMKTS:SSNLF) weathered COVID-19 disruptions in Q2, going by the stellar financial results for the three months ended June. The South Korean juggernaut saw underlying profits come in better than expected, helped by surging internet traffic that saw chip demand surge to record levels. The hardware giant also benefited from a spike in hardware demand as more people were forced to work from home in the quarter.

Operating profits were up 23% coming in at 8.1 trillion won or $6.8 billion in the quarter compared to 6.2 trillion reported in the same quarter last year. Net sales totaled 52 trillion won driven by strong demand or chips used in making internet devices.

https://callputstrike.com/2020/07/07/samsung-q2-profit-up-23-amid-covid-19-disruptions/