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BOTTOM FISHING
Here's Why Snap (SNAP) is Poised for a Turnaround After Losing 33.7% in 4 Weeks
https://finance.yahoo.com/news/heres-why-snap-snap-poised-140002326.html
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Zoom Acquisition of Five9 Collapses After Shareholders Vote it Down
https://finance.yahoo.com/m/46eb24d5-c1ae-3196-adb4-8500a7a30d65/zoom-acquisition-of-five9.html
Videoconferencing giant Zoom Video Communications and cloud-based contact center software company Five9 have agreed to terminate their merger agreement, the companies said Thursday afternoon. The merger didn’t receive enough votes from Five9 shareholders, according the companies, and the company will continue to operate as a stand-alone publicly traded company.
“The contact center market remains a strategic priority for Zoom, and we are confident in our ability to capture its growth potential,” said Eric Yuan, CEO and founder of Zoom, in a statement. He notes that the firm will launch its cloud-based contact center solution, the Zoom Video Engagement Center, in early 2022. The firm will also maintain its existing contact center partnerships with companies like Five9, Genesys, NICE inContact, Talkdesk, and Twilio .
Zoom (ticker: ZM) first announced plans to acquire Five9 (FIVN) for $14.7 billion in an all-stock deal in July. The move was designed to help the company become a major player in call center software.
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US default would wipe out nearly 6 million jobs, Moody's says
https://www.cnn.com/2021/09/22/business/us-default-job-loss-prediction/index.html
A US default would be a "catastrophic blow" to America's economic recovery from Covid-19, setting off a downturn that would rival the Great Recession, Moody's Analytics warned in a new report.
If the US defaults on its debt payments and the impasse drags on, the ensuing recession would wipe out nearly 6 million jobs and lift the nation's unemployment rate to nearly 9%, Moody's projected in a report published Tuesday.
The market meltdown would slash stock prices by one-third, erasing about $15 trillion in household wealth, the report found.
"This economic scenario is cataclysmic," wrote Mark Zandi, chief economist at Moody's Analytics.
The US Treasury Department estimates it will run out of cash at some point in October unless Congress raises the debt ceiling. Despite the specter of a default, Republicans have refused to back an increase in the debt limit due in part to concerns about the Biden administration's vast spending plans.
Moody's notes that financial markets are not freaking out about the debt ceiling showdown, suggesting there is widespread belief that Congress will eventually act. The impact on Wall Street has been far smaller so far than during standoffs in 2011 and 2013.
"Ironically, because investors seem so sanguine about how this drama will play out, policymakers may believe they have nothing to worry about and fail to resolve the debt limit in time," Zandi wrote. "This would be an egregious error."
Jamie Dimon says JPMorgan has begun to prepare for potential US default
https://www.cnn.com/2021/09/28/business/jamie-dimon-jpmorgan-us-default/index.html
JPMorgan Chase CEO Jamie Dimon says America's largest bank is once again preparing for a potential US default even though he expects Congress to avoid that "potentially catastrophic" event by lifting the debt ceiling.
Treasury Secretary Janet Yellen told lawmakers Tuesday that the federal government will run out of cash and extraordinary measures by October 18, setting the stage for a potential default if Congress does not raise the debt limit before then.
Dimon said JPMorgan is combing through client contracts to prepare for a potential default.
"If I remember correctly, the last time we got prepared for this, it cost us $100 million," he said.
Micron Technology's 1Q Guidance Misses Analysts' Targets
Micron Technology Inc. expects about $7.65 billion in revenue this quarter, missing Wall Street targets.
The company said it expects to make $1.90 to $2.10 a share this quarter, or $2 to $2.20 a share on an adjusted basis, on $7.45 billion to $7.85 billion in revenue.
Analysts surveyed by FactSet expect $2.44 a share, or $2.53 a share as adjusted, and about $8.54 billion in revenue.
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Fed Signals Start to Taper of Bond-Buying Stimulus; Powell Discusses Stock Trading by Fed Officials; Brazil Central Bank Raises Key Rate
https://ih.advfn.com/stock-market/stock-news/86122923/fed-signals-start-to-taper-of-bond-buying-stimulus
The Federal Reserve's rate-setting committee said Wednesday in a statement it could start to reduce, or taper, its $120 billion in monthly bond buying as soon as its next scheduled meeting, Nov. 2-3. "The purpose of that language is to put notice out that that could come as soon as the next meeting," Fed Chairman Jerome Powell said. He also discussed recently disclosed stock trading by the heads of the Dallas and Boston Fed banks, adding ethics rules about trading by Fed officials will be reviewed. Elsewhere, Brazil's central bank raised its benchmark lending rate by 1 percentage point to 6.25% and said a similar increase may be coming at its next meeting in October to ensure inflation falls to the bank's target.
Goldman Sachs just launched this ETF GTEK that will rival FAANG stocks
https://www.gsam.com/content/gsam/us/en/individual/products/etf-fund-finder/goldman-sachs-future-tech-leaders-equity-etf.html#activeTab=overview
Verrica Pharma Shares Slide 25% After Company Receives Letter From FDA
Shares of Verrica Pharmaceuticals Inc. are lower in Monday's late-trading session, after the company said it received a complete response letter from the U.S. Food and Drug Administration identifying deficiencies at a contract manufacturer's facility for its VP-102.
The company said it filed a new drug application for VP-102 to treat molloscum contagiosum, a viral infection affecting the skin.
Verrica said the deficiencies identified by the FDA "are not specifically related to the manufacturing of VP-102 but instead raise general quality issues at the facility." The company added, "the FDA did not identify any clinical, safety or product specific chemistry, manufacturing, and controls deficiencies related to VP-102."
The contract manufacturing organization advised Verrica it is "expecting a satisfactory resolution of the facility's identified deficiencies from the FDA within the next 30 business days," Verrica said.
https://ih.advfn.com/stock-market/NASDAQ/verrica-parmaceuticals-VRCA/stock-news/86093388/verrica-pharma-shares-slide-25-after-company-rece
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The fear over Evergrande is that a potential collapse there could send a chain reaction through the Chinese property-development industry and spill over into the broader financial system, similar to how the failure of Lehman Brothers inflamed the 2008 financial crisis and Great Recession. Those property companies have been big drivers of the Chinese economy, which is the world’s second-largest.
If they fail to make good on their debts, the heavy losses taken by investors who hold their bonds would raise worries about their financial strength. Those bondholders could also be forced to sell other, unrelated investments to raise cash, which could hurt prices in seemingly unrelated markets. It’s a product of how tightly connected global markets have become, and it’s a concept the financial world calls “contagion.”
https://www.usatoday.com/story/money/markets/2021/09/20/stock-market-s-p-500-dow-china-real-estate-evergrande-group-economy/8419389002/
Morgan Stanley says it’s looking more likely stocks to fall 20% in ‘destructive outcome’ for bull run
https://www.cnbc.com/2021/09/20/morgan-stanley-says-its-looking-more-likely-stocks-fall-20percent-in-destructive-outcome-for-bull-run.html?__source=PRO%7Cnewsletter%7Cmarketing%7Csignup%7Csep20%7Cmorganstanley&tpcc=PRO%7Cnewsletter%7Cmarketing%7Csignup%7Csep20%7Cmorganstanley
Market sell-off worsens in volatile trading with Dow dropping 600 points, S&P 500 losing 2%
https://www.cnbc.com/2021/09/19/stock-market-futures-open-to-close-news.html
U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.
The Dow Jones Industrial average lost 612 points, or 1.8%, set for its biggest one day drop since July 19. The S&P 500 fell 1.9%, on pace for its worst daily performance since May 12. The tech-heavy Nasdaq Composite dropped 2.4%.
There were a number of reasons for the sell-off:
Investors fear a contagion sweeping financial markets from the troubled China property market. Hong Kong equities saw a big sell-off during the Asia trading session on Monday. The benchmark Hang Seng index plunged 4% with embattled developer China Evergrande Group on the brink of default.
The Federal Reserve begins a two-day meeting Tuesday and investors are worried the central bank will signal it’s ready to start pulling away monetary stimulus amid surging inflation and improvement in the job market.
Covid cases because of the delta variant remain at January levels as colder weather approaches in North America.
September has the worst track record of any month, averaging a 0.4% decline, according to the Stock Trader’s Almanac. History shows the selling tends to pick up in the back half of the month.
Investors are also concerned about brinkmanship in DC as the deadline to raise the debt ceiling approaches. Congress returned to Washington from recess rushing to pass funding bills to avoid a government shutdown.
Stocks linked to global growth were down the most Monday. Ford and Carrier Global lost more than 3%. General Motors and Boeing fell about 2% each. Nucor steel shed 2.8%
Pandemic-era unemployment benefits expire
The Street is unclear on how to value Zoom as its growth slows with people returning to offices and schools, despite the lingering pandemic.
https://finance.yahoo.com/news/zoom-stock-just-crashed-heres-the-simplest-reason-why-164619692.html
Zoom down $57 or 16%
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3 Companies That Will Directly Benefit From an EV Boom
https://www.fool.com/investing/2021/05/05/3-companies-that-will-directly-benefit-from-an-ev/
As electric vehicle (EV) sales rise around the world, there will be a number of industries that directly benefit from the change in energy consumption. Electricity consumption could rise, millions of EV chargers will be needed, and there will be a huge demand for raw materials.
These businesses adjacent to EV manufacturing have become appealing because EV stocks trade for incredibly high price-to-sales multiples, or multi-billion dollar valuations for pre-revenue companies. And if you're looking for stocks that will directly benefit from EV growth, we think SunPower (NASDAQ:SPWR), ChargePoint Holdings (NYSE:CHPT), and NextEra Energy (NYSE:NEE) will be some of the biggest beneficiaries.
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'Don't buy this dip,' Bay Crest's Krinsky says
Tesla Stock Fell Sharply on Tuesday
down 30% this year
https://www.fool.com/investing/2021/08/17/why-tesla-stock-fell-sharply-on-tuesday/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Shares of Tesla (NASDAQ:TSLA) were hit hard on Tuesday. The stock had fallen about 4% as of 11:45 a.m. EDT today.
The stock's decline extends a pullback on Monday, which was fueled by news that the National Highway Traffic Safety Administration has opened a formal safety probe into the electric vehicle maker's driver-assist technology.
Today, shares are likely down due to bearishness in the overall market and a tough day for many growth stocks like Tesla. In addition, one analyst argued in a note to inventors today that the stock is significantly overvalued.
So what
As of this writing, the S&P 500 and the Nasdaq Composite are down 0.8% and 1.1%, respectively, capturing pessimism in the stock market on Tuesday. Many growth stocks like Tesla are down even more sharply.
Meanwhile, Bernstein analyst Toni Sacconaghi told investors on Tuesday that even though the stock deserves a premium valuation relative to other automakers, it is still way too high. He has a 12-month price target for the stock of $300, down more than 50% from where it is today.
Now what
Though Tesla shares likely did get ahead of themselves earlier this year, the company is demonstrating incredible growth and an impressive operating margin. Management expects vehicle deliveries to grow more than 50% this year. Furthermore, the company's second-quarter operating margin was 11%, and management expects to achieve an industry-leading operating margin over time.
Still, investors should take note that the stock's valuation is arguably priced for strong top-line growth for years, as well as significant operating margin expansion.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
U.S. Crude-Oil Stockpiles Likely to Fall in DOE Data, Analysts Say
https://www.marketwatch.com/story/u-s-crude-oil-stockpiles-likely-to-fall-in-doe-data-analysts-say-271628007434
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U.S. crude-oil stockpiles are unanimously expected to decrease from the previous week in data due Wednesday from the U.S. Energy Department, according to a survey of analysts and traders by The Wall Street Journal.
Estimates from 11 analysts and traders showed U.S. oil inventories are projected to have fallen by 2.7 million barrels in the week ended July 30, with forecasts ranging from declines of 1.4 million barrels to 4 million barrels.
The closely watched survey from the DOE's Energy Information Administration is scheduled for release at 10:30 a.m. ET Wednesday.
Gasoline stockpiles are expected to fall by 1.6 million barrels from the previous week, according to analysts. Estimates range from a decrease of 3 million barrels to an increase of 1 million barrels.
Stocks of distillates, which include heating oil and diesel, are expected to fall by 500,000 barrels from the previous week. Forecasts range from a decrease of 3.4 million barrels to an increase of 3 million barrels.
Refinery use likely rose by 0.4 percentage point to 91.5% of capacity. Forecasts range from a decrease of 0.5 percentage point to a 1 percentage-point increase. Two analysts didn't make a forecast.
China EV Stocks Rise Even As Beijing Keeps Turning The Screws On Tech Sector
https://www.investors.com/news/china-ev-stocks-bejing-widens-crackdown-beyond-tech/?src=A00220
China ordered 25 technology firms, including Alibaba (BABA) and Tencent Holdings (TCEHY), to conduct internal reviews as part of a campaign to root out illegal online activity, Bloomberg reported.
Beijing also demanded the companies rectify issues ranging from data security to consumer rights protections. Alibaba, Tencent and 10 other firms were also asked Wednesday to step up data security, including the export of key information, by the Internet Society of China, which was acting on behalf of the country's Ministry of Industry Information Technology.
Meanwhile, the U.S. Securities and Exchange Commission temporarily stopped processing registrations of IPOs and other securities sales by Chinese companies, sources told Reuters and CNBC. The SEC is said to be crafting new guidance for disclosing to investors the risk of a new regulatory crackdown by Beijing.
China's new demands on its tech companies comes just a day after attempted to ease investors' fears. Top officials from the China Securities Regulatory Commission told top banks that the government will weigh any market reactions before rolling out new policies, sources told the Wall Street Journal Thursday.
The regulator also said China doesn't seek to decouple from global markets, especially the U.S., the Journal added. And Chinese companies can continue listing on U.S. exchanges as long as they meet requirements, the officials added, according to CNBC.
That comes as Didi Global (DIDI) denied a separate Journal report that said the ride-hailing giant is considering going private to appease Beijing.
In a front-page editorial Wednesday, the Securities Times said the recent slump "to some extent reflects misinterpretation of policies and a venting of emotion."
It added that "Economic fundamentals have not changed and the market will stabilize at any moment," according to Bloomberg and Reuters. Other securities dailies echoed those comments.
In recent days, Beijing regulators expanded a crackdown on technology companies to other sectors. In addition, China signaled a tougher stance on financial hub Hong Kong and gambling mecca Macau.
On Tuesday, state-run media said China's top legislative body will discuss new laws next month for the former colonial territories. While reports didn't specify what kind of laws would be imposed, it follows the enactment of new security laws in Hong Kong last year to squelch pro-democracy protest.
Over the weekend, regulators ordered Tencent Music Entertainment (TME) to end exclusive music licensing deals with record labels around the world, the BBC said.
China also tightened regulations for food delivery platforms, including minimum wages. And it signaled higher oversight of the property sector
In addition, tutoring schools are now banned from offering for-profit courses in core classes during the academic year, Beijing said. The news sent TAL Education (TAL) and New Oriental Education and Technology (EDU) to multiyear lows.
A prior crackdown targeted e-commerce giant Alibaba and Didi, as Beijing increases scrutiny on domestic companies listing overseas in the U.S.
China EV Stocks
Nio stock climbed 4.8% on the stock market today. Among other China EV stocks, Li Auto jumped 8.9%, and Xpeng rose 6.4%. Nio announced Friday that it will report for the second quarter Aug. 11. And a local unconfirmed Chinese report said Nio would release new, cheaper model from a "sub-brand" next year.
TAL Education gained 3.4% while New Oriental Education fell 1.8%, after rebounds off massive dives earlier.
Internet giant Tencent fell 1.2% but Tencent Music dipped 0.7%. Among other China tech stocks, Didi stock rose 4.6% after jumping 11% Thursday. Alibaba fell 1.2%, and JD.com (JD) lost 1.5%.
On July 26, U.S.-listed Li Auto earned the go-ahead from Hong Kong stock exchange for an initial public offering, just a year after its debut in New York, local reports said. Nio's also said to be seeking a dual Hong Kong listing, following in the footsteps of Xpeng Motors. The three EV startups are emerging rivals to Tesla (TSLA) in the world's biggest car market.
AMD, which also reported a better-than-expected financial performance in the latest period, said overall data-center revenue nearly doubled from the year earlier and increased sequentially from a high-teens percentage of overall revenue in the first quarter to more than 20% in the second quarter.
AMD raised its projection for revenue growth to about 60%, from about 50%, and said that the data-center business is expected to remain a strong driver into the second half of the year.
Xilinx Inc. reported stronger-than-expected quarterly results, including profit more than doubling from the year earlier despite industry-wide supply chain challenges.
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Pfizer says immunity drops to 83% within four months in people who got its COVID-19 shot, further bolstering the company case for a booster
https://www.marketwatch.com/story/pfizer-says-immunity-drops-to-83-within-six-months-in-people-who-got-its-covid-19-shot-further-bolstering-the-company-case-for-a-booster-11627579817?mod=home-page
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Chinese internet stocks
BABA JD PDD TCEHY VIPS BIDU TME NTES TCOM BILI YY BEKE DADA DIDI
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_ SOXS
Direxion Daily Semiconductor Bear 3X Shares (ETF)
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https://www.marketwatch.com/investing/stock/SOXS/options
https://www.nasdaq.com/market-activity/stocks/SOXS/option-chain
options trade for Micron MU
https://www.marketwatch.com/investing/stock/MU/optionsldings
https://www.nasdaq.com/market-activity/stocks/MU/option-chain
!**********************************************************************************
SOXS
Direxion Daily Semiconductor Bear 3X Shares (ETF)
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https://www.marketwatch.com/investing/stock/SOXS/options
https://www.nasdaq.com/market-activity/stocks/SOXS/option-chain
options trade for Micron MU
https://www.marketwatch.com/investing/stock/MU/optionsldings
https://www.nasdaq.com/market-activity/stocks/MU/option-chain
Best Chinese Stocks To Buy And Watch Amid China Crackdowns
https://www.investors.com/news/best-chinese-stocks-to-buy/?src=A00220
Hundreds of Chinese companies are listed on U.S. markets. But which are the best Chinese stocks to buy or watch right now? Weibo (WB), Sohu (SOHU), Nio (Nio), BYD Co. (BYDDF) and Li Auto (LI).
China is the world's most-populous nation and the second-largest economy with a booming urban middle class and amazing entrepreneurial activity. Often dozens of Chinese stocks are among the top performers at any given time, across an array of sectors.
But with China's crackdowns on Didi Global (DIDI), for-profit education firms and other sectors, U.S.-listed Chinese stocks are reeling. While there may be big growth opportunities going, forward, the risks are very high.
Best Chinese Stocks Across Many Industries
As the world's largest internet market, it's no surprise to see big growth from China stocks focusing on e-commerce, messaging or mobile gaming. Notable Chinese internet stocks include:
Alibaba (BABA)
JD.com (JD)
Pinduoduo (PDD)
Tencent (TCEHY)
Vipshop (VIPS)
Baidu (BIDU)
Tencent Music Entertainment (TME)
NetEase (NTES)
Trip.com (TCOM)
Dada Nexus (DADA)
Bilibili (BILI)
Joy (YY)
KE Holdings (BEKE)
In electric vehicles, several Chinese companies are becoming serious rivals to Tesla (TSLA) in the world's biggest auto market.
Nio (NIO)
Xpeng Motors (XPEV)
Li Auto (LI)
BYD Co. (BYDDF)
Several Chinese financial firms or brokerages listed in the U.S.
Futu Holdings (FUTU)
Up Fintech Holding (TIGR)
360 Digitech (QFIN)
Noah Holdings (NOAH)
Several China stocks are in solar power.
Daqo New Energy (DQ)
JinkoSolar (JKS)
For-profit education Chinese stocks are a notable non-tech sector.
New Oriental Education (EDU)
Tal Education (TAL)
17 Education & Technology Group (YQ)
Gaotu Techedu (GOTU), formerly known as GSX Techedu.
Don't forget stocks in other fields, such as riding-hailing firm Didi Global (DIDI), beauty products maker Yatsen (YSG) or data-center operator GDS Holdings (GDS).
Beijing Crackdown On Chinese Stocks
Investors should be aware of significant risks with investing in Chinese stocks. The authoritarian state and its regulators can impose sweeping restrictions, fines or bans on major companies, often with little notice or transparency.
That risk has been very apparently over the last several months.
Alibaba ran afoul of regulators in late 2020, with regulators opening probes into internet platforms and suspending the Ant Group IPO. In April, China fined Alibaba $2.8 billion for anti-competitive actions and ordered it to change various practices. Alibaba affiliate Ant Group limiting the scope of some of its businesses to comply with regulators' demands.
Further antitrust probes and fines are likely for other internet giants.
China's cybersecurity regulator earlier this month ordered app stores to remove Didi Chuxing, just days after Didi Global (DIDI) held one of the biggest U.S. IPOs in years. The cybersecurity regulator said Didi violated restrictions on the collection and usage of personal information, but didn't offer any specifics. That came just days after announcing a probe and ordering Didi to suspend new user sign ups.
More broadly, China will impose cybersecurity reviews on internet and data-centric companies listing overseas. Hong Kong listings appear to be exempt, suggesting far fewer Chinese companies listing in the U.S. going forward. Many big U.S.-listed Chinese companies already have secondary listings in Hong Kong.
For-profit school operators, including New Oriental Education (EDU), TAL Education (TAL) and Gaotu Education (GOTU), crashed on July 23 as Beijing mulled whether to make after-schooling tutoring firms nonprofit. These stocks had already fallen sharply in 2021 as regulators and leaders signaled new restrictions.
Beijing confirmed for-profit restrictions over the weekend, triggering continued huge losses in Chinese school stocks and big losses among U.S.-listed China stocks. China also is setting new rules on app-based delivery firms and has signaled it may target the property sector. Finally, Beijing has hinted at even-tougher rules for Hong Kong and Macau.
Chinese Stock Risks, Continued
Accounting fraud, while less likely with institutional-quality names such as Alibaba, remains a concern. Luckin Coffee admitted to widespread fraud in 2020. Fraud charges alone can trigger massive share price losses.
Meanwhile, a new U.S. law could force Chinese companies to delist from U.S. markets. That threat isn't imminent, and could be averted with negotiations between the Treasury Department and Beijing over accounting oversight. Still, it's something that could loom large for China stocks in the coming years.
China Stock Investing Via ETFs
One way to minimize individual China stock risks is via ETFs. Another advantage of buying ETFs is that a growing number of Chinese companies are listing in Hong Kong or Shanghai, instead of in addition to the U.S.
KraneShares CSI China Internet ETF (KWEB) tracks major Chinese internet companies. Many Chinese stock holdings in the KWEB ETF are U.S.-listed or traded, such as Alibaba stock, JD.com, Tencent, Pinduoduo and Bilibili, but KWEB also holds companies listed on Chinese markets. Direxion Daily FTSE China Bull (YINN), a three-times levered ETF of the 50 largest companies listed in Hong Kong, including Alibaba, JD.com and Tencent stock, but its biggest weights are in financials. (The Direxion Daily FTSE China Bear (YANN) is a three-times levered ETF shorting Hong Kong's biggest companies.)
Stock Market Trend Key
As always, investors should be following the overall stock market trend, adding exposure in confirmed uptrends and paring exposure or going fully to cash in corrections or bear markets. Right the stock market rally remains under pressure.
Best China Stocks To Buy: Key Ingredients
Focus on the best stocks to buy and watch, not just any Chinese companies.
IBD's CAN SLIM Investing System has a proven track record of significantly outperforming the S&P 500. Outdoing this industry benchmark is key to generating exceptional returns over the long term.
Look for companies that have new, game-changing products and services. Invest in stocks with recent quarterly and annual earnings growth of at least 25%.
Start with those with strong earnings growth, such as Alibaba or Pinduoduo stock. If they're not profitable, at least look for rapid revenue growth as with Nio stock. The best China stocks should have strong technicals, including superior price performance over time. But we'll be highlighting stocks that are near proper buy points from bullish bases or rebounds from key levels.
Chinese stocks are out of favor. Whether it's a general malaise for EV names such as Nio and Xpeng, or a regulatory crackdown for Alibaba, Didi or New Oriental Education, U.S.-listed Chinese stocks have been notable losers in 2021.
After a brief attempt in May and June, China stocks are under heavy pressure once again.
Chinese stocks rebounded on July 28 after state media blamed the recent sell-off on "venting of emotion." That suggests leaders would like stock prices to stabilize.
U.S.-China meeting off to a tense start as Beijing official says relations are in a ‘stalemate’
https://www.cnbc.com/2021/07/26/us-china-tianjin-meeting-wendy-sherman-xie-feng-wang-yi.html
Another high-level meeting between U.S. and Chinese officials — this time in the Chinese city of Tianjin, just outside of Beijing — began with criticism.
Chinese Vice Foreign Minister Xie Feng said during talks Monday with U.S. Deputy Secretary of State Wendy Sherman that the two countries’ relationship “is now in a stalemate and faces serious difficulties,” according to an English-language press release from China’s Ministry of Foreign Affairs.
“Fundamentally, it is because some Americans portray China as an ‘imagined enemy,’” the release said, adding, “We urge the United States to change its highly misguided mindset and dangerous policy.”
The statement said, however, China still wanted to work with the U.S., on the condition leaders “change course” and adhere to Chinese interests.
The U.S. Embassy in Beijing did not immediately have a comment when contacted by CNBC.
Tensions between the U.S. and China have escalated in the last several years. Former U.S. President Donald Trump used tariffs and sanctions in an attempt to address longstanding criticism against China, such as unequal market access, lack of intellectual property protection and forcing businesses to transfer technology in order to operate in the country.
Sherman is in China for a meeting with her counterparts there Sunday and Monday.
The goal of the meeting was not a negotiation, but an effort to keep high-level communication channels open, senior State Department officials said in a briefing with reporters over the weekend.
The U.S. officials expected to meet with Xie first, and then Chinese Foreign Minister Wang Yi second.
The leaders are expected to work toward the first meeting of Chinese President Xi Jinping and U.S. President Joe Biden, likely around the G-20 summit in October.
State Department spokesman Ned Price said at a briefing Wednesday that Sherman would travel to China “from a position of strength,” similar to Secretary of State Antony Blinken’s meeting with his Chinese counterparts in Anchorage, Alaska.
That gathering in March, the first high-level meeting between the two countries under Biden’s administration kicked off with an exchange of insults.
Baidu, Tencent in U.S. extend slide after SEC actions amid U.S.-China tension
BY Reuters
— 3:43 PM ET 03/26/2021
NEW YORK (Reuters) - U.S.-listed shares of China based Baidu Inc and Tencent Music Entertainment group (TME) plunged this week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday's closing levels.
They initially fell in tandem with a broad sell-off of tech and tech-related shares on Wednesday, when the Nasdaq shed more than 2%. They extended losses on Thursday after the U.S. Securities and Exchange Commission (SEC) adopted measures to remove foreign from U.S. exchanges if they failed to comply with U.S. accounting standards.
The regulator's move comes at a time of heightened tensions between the world's two largest economies.
Talks last week between U.S. and Chinese officials in Alaska culminated in U.S. sanctions being announced against Chinese officials over alleged crimes against humanity and genocide on Uighurs in Xinjiang.
Baidu stock was last down 4.7%, while Tencent had lost 9.6% on the day.
On Friday, traders said Goldman Sachs Group offered a block of 10 million Baidu shares and 50 million Tencent shares, according to a Bloomberg report.
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Stocks With The Highest Short Interest Rate This Week and beaten-up Chinese Stocks
https://finance.yahoo.com/news/stocks-highest-short-interest-rate-130646084.html
Investors are always looking for opportunities to profit from the most heavily shorted stocks on the stock market. Here are the stocks on the market with the highest short interest including Gamestop, GSX Techedu Inc, Viacom CBS Inc, Sunrun Inc, and Iron Mountain Inc.
1. GameStop Corp- 20.36%
GameStop Corp (NYSE: GME) is an American retail store that offers video games, electronics, and gaming merchandise. Gamestop Corp's stock has shot up over the past few months as investors have continued to purchase shares at a high-rate. GameStop has been performing well and their sales are up 175% so far this quarter compared to last year.
2. GSX Techedu Inc- 18.98%
GSX Techedu Inc (NYSE: GSX) is a technology-driven education company that provides online tutoring and foreign language classes online. They are a respected educational institution in China that strives to improve teaching, delivery and student learning experiences. GSX Techedu is down 16% this week and their market cap is set at 17.49 billion.
3. ViacomCBS Inc- 17%
ViacomCBS Inc (NASDAQ: VIAC) provides premium entertainment content that connects billions of people all around the world. They use their platforms to connect the world, create culture, and mark important moments in history. On Wednesday their stock was down 23% and the company's momentum seems to be slowing down this week.
4. Sunrun Inc- 13.69%
Sunrun Inc (NASDAQ: RUN) is the leading home solar panel and battery storage company that is headquartered in San Francisco, California. Sunrun powers the homes of hundreds of thousands of customers and provides them with renewable energy each month. Their stock dropped by around 5% in the premarket after announcing they are seeking to raise $3 billion from stock offerings.
5. Iron Mountain Inc- 12.62%
Iron Mountain Inc (NASDAQ: IRM) is an enterprise information management company that is headquartered in Boston, Massachusetts. They offer solutions such as record management, data backup and recovery, and secure shredding. Iron Mountain Inc has been trading well this week and their revenue is up 556.26%.
Nike Faces China Backlash and Tencent Music Entertainment (TME) crashed 27%,
plunging below its recent buy point and then its 50-day line. It was a bad day for China stocks, with Nio (NIO), JD.com (JD) and Tencent stock falling 10%, 5.3% and 5.1% respectively. Tencent Music's parent, Tencent (TCEHY) topped earnings views early Wednesday. Vipshop (VIPS), which had been far above any buy point, plummeted 21%.
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-breaks-applied-materials-rh-rise-tencent-music-crashes-tesla-falls/?src=A00220
China has proposed requiring internet firms to house their customer data in a government joint venture. China's central bank also is reducing liquidity boosts, a drag on stocks.
Highly valued growth stocks outside of China also were notable losers. Tesla (TSLA) fell 4.8%, continuing to slide from its short-term highs and key moving averages. CEO Elon Musk said early Wednesday that people can now buy a Tesla with Bitcoin, which fueled a brief morning rise in TSLA stock and the Bitcoin price. But Bitcoin also reversed lower.
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China Stock
SMH forming H&S
interest rate increase concern causing market selloff
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oil drop lack of demand
https://finviz.com/futures_charts.ashx?t=CL
3 Chip Stocks That Could Benefit From a Crypto Mining Boom
https://www.fool.com/investing/2021/03/17/3-chip-stocks-that-could-benefit-from-a-crypto-min/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Some investors might end their search with Bitmain, but plenty of other chipmakers could still benefit from the crypto mining boom. Let's take a closer look at three of those companies: NVIDIA (NASDAQ:NVDA), AMD (NASDAQ:AMD), and Intel (NASDAQ:INTC).
FANG ETF split Schedule
https://finance.yahoo.com/news/etf-odds-ends-fang-etns-143000923.html
After seeing dramatic price increases over the past 12 months, three ETNs covering the FANG stocks and their peers are set to undergo forward splits effective Feb. 12. The $212 million MicroSectors FANG+ Index 2X Leveraged ETNs due January 8, 2038 (FNGO) will undergo a 5-for-1 split, while the $71 million MicroSectors FANG+ ETNs due January 8, 2038 (FNGS) will undergo a 4-for-1 split. The $1.5 billion MicroSectors FANG+ Index 3X Leveraged ETNs due January 8, 2038 (FNGU) will undergo a 10-for-1 split.
Splits were also announced for other ETFs in the future, including five funds offered by Direxion. Those splits are effective March 1:
The Direxion Daily S&P 500 High Beta Bull 3x Shares (HIBL) will undergo a 7-for-1 forward split.
The Direxion Daily Technology Bull 3X Shares (TECL) will undego a 10-for-1 forward split.
The Direxion Daily Semiconductor Bull 3X Shares (SOXL) will undergo a 15-for-1 forward split.
The Direxion Daily Financial Bear 3X Shares (FAZ) will undergo a 1-for-8 reverse split.
The Direxion Daily Small Cap Bear 3X Shares (TZA) will undergo a 1-for-8 reverse split.
And on March 15, DBX Advisors is expected to propose for board approval a 5-to-4 forward split for the Xtrackers USD High Yield Corporate Bond ETF (HYLB).
Expense Ratio Changes
Meanwhile, all 11 of the Select Sector SPDR ETFs saw their expense ratios reduced from 0.13% to 0.12% as of Jan. 31. The affected funds are as follows:
Materials Select Sector SPDR Fund (XLB)
Communication Services Select Sector SPDR Fund (XLC)
Energy Select Sector SPDR Fund (XLE)
Financial Select Sector SPDR Fund (XLF)
Industrial Select Sector SPDR Fund (XLI)
Technology Select Sector SPDR Fund (XLK)
Consumer Staples Select Sector SPDR Fund (XLP)
Real Estate Select Sector SPDR Fund (XLRE)
Utilities Select Sector SPDR Fund (XLU)
Health Care Select Sector SPDR Fund (XLV)
Consumer Discretionary Select Sector SPDR Fund (XLY)
Name & Index Changes
The week also saw a couple of name or index changes taking effect. On Feb. 1, the Global X YieldCo & Renewable Energy Income ETF (YLCO) changed its name to the Global X Renewable Energy Producers ETF and its index from the Indxx YieldCo & Renewable Energy Income Index to the Indxx Renewable Energy Producers Index. Its ticker changed to RNRG.
On Feb. 5, the ERShares Entrepreneur 30 ETF (ENTR) changed its name to the ERShares Entrepreneurs ETF and the ERShares Non-US Small Cap ETF (ERSX) changed its name to the ERShares NextGen Entrepreneurs ETF.
Additional Launches
Several products launched during the week beyond what ETF.com was able to cover. On Feb. 3, AdvisorShares rolled out the actively managed AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) with an expense ratio of 1.12%.
On Friday, Feb. 5, UBS rolled out another seven 2x leveraged ETNs. They are as follows:
ETRACS 2x Leveraged US Value Factor TR ETN (IWDL)
ETRACS 2x Leveraged US Growth Factor TR ETN (IWFL)
ETRACS 2x Leveraged US Size Factor TR ETN (IWML)
ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL)
ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL)
ETRACS 2x Leveraged US Dividend Factor TR ETN (SCDL)
ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML)
Apple Partner Foxconn to Form EV Partnership With Fisker
https://finance.yahoo.com/news/apple-partner-foxconn-form-ev-185031679.html
Dow Jones Futures: Tech Stocks Sell Off As Tesla Dives
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-stock-market-rally-tesla-stock-apple-stock-zoominfo-cadence-palo-alto-earnings/?src=A00220
On Monday, the tech-heavy Nasdaq composite sold off 2.5%, its worst day since Jan. 27. The S&P 500 moved down 0.8%, while the Dow Jones Industrial Average traded up 0.1%.
Among the Dow Jones leaders, Apple (AAPL) slid 3%, while Microsoft (MSFT) descended 2.7%. Apple stock fell further below its 10-week line, while Microsoft is testing a recent buy point. Disney (DIS) is back in buy range after Monday's sharp gain.
Tesla (TSLA) dived 8.55% Monday, breaking down through its 50-day support level.
Oil Prices Continue To Rise As Bullish News Mounts
https://oilprice.com/Energy/Energy-General/Oil-Prices-Continue-To-Rise-As-Bullish-News-Mounts.html
he EIA expects a sharp rebound in demand this year, although two massive unknowns – the pace of vaccinations and the pace of infections from new covid variants – throw most forecasts into a deep state of uncertainty.
https://www.investing.com/commodities/crude-oil
https://stockcharts.com/freecharts/candleglance.html?USO,DIG,ERX,BDCO,COG,EOG,ROYL,SU,CLMT,CVI,FST,,OXY,SHI,SUN,VLO|C|A12,26,9|0
Tuesday, February 2, 2021
Oil shot up to a one-year high on Tuesday, with WTI topping $55 per barrel. The oil market is “supported by the combination of tightening fundamentals, as seen through the rising backwardation and the renewed risk appetite in the U.S. stock market,” said Ole Hansen, head of commodities research at Saxo Bank A/S.
Oil Prices Rally Towards $60
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Rally-Towards-60.html
U.S. West Texas Intermediate crude oil futures rose to their highest levels in nearly a year on Friday with Brent traders zeroing in on the psychological $60 a barrel level on economic revival hopes led by strong compliance with the planned output cuts by OPEC+.
Also contributing to the gains were a government report that showed another draw in crude stockpiles, optimism over a speedier U.S. economic recovery on the prospect of additional stimulus from Washington and a successful rollout of the U.S. vaccination program.
OPEC+ Sticks with Oil Policy as Prices Rise Towards One-Year High
OPEC+ maintained its oil output policy at a meeting on Wednesday, a sign producers are happy that their deep supply cuts are draining inventories despite an uncertain outlook for a recovery in demand as the pandemic lingers.
A Joint Ministerial Monitoring Committee of the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, is “optimistic for (a) year of recovery in 2021,” OPEC said in a statement after the panel met virtually.
US Crude Stockpiles Fall, Gasoline Inventories Surge: EIA
U.S. crude oil stockpiles fell while gasoline inventories jumped unexpectedly, the Energy Information Administration said on Wednesday.
Crude inventories fell by 994,000 barrels in the week to January 29 to 475.7 million barrels, their lowest since March. Analysts in a Reuters poll had forecast a 446,000-barrel rise.
Dow Jones Slumps 620 Points As Apple Sell-Off Continues
https://www.investors.com/market-trend/stock-market-today/dow-jones-crashes-500-points-apple-selloff-bitcoin-surges-game-stop-amc-fade-off-highs/?src=A00220
The stock market showed sharp losses Friday afternoon as leading growth stocks got taken to the woodshed again. Apple (AAPL) lagged badly in the Dow Jones Industrial Average despite a bullish earnings report earlier in the week.
The stock market moved off lows in late-afternoon, but the major stock indexes were still mired in red. The Nasdaq composite was down 1.5% in late trading, just below its 21-day exponential moving average. The 21-day line has been a consistent support level for the index since the Nasdaq's follow-through day in early November. The S&P 500 gave back 1.6% and was holding just above its 50-day moving average. The Dow Jones Industrial Average fell below its 50-day line as it tries to make a stand at the 30,000 level. The blue-chip index gave back 1.4%.
Johnson & Johnson (JNJ) also lagged in the Dow Jones today after the company said its coronavirus vaccine was 72% effective in the U.S. But it was only 66% effective in Latin America and 57% in South Africa.
Novavax (NVAX) was a coronavirus vaccine winner. Late Thursday, the company said its coronavirus vaccine is 89.3% effective in a late-stage trial in the U.K. It was 95.6% effective vs. the original coronavirus strain. Novavax gapped up to a new high, rising 63%.
Dow Jones Movers
Apple stock was down 4%. Shares are down 5% so far this week even after the company on Wednesday reported double-digit revenue growth in all of its product categories on Wednesday.
Caterpillar (CAT), Honeywell (HON) and Chevron (CVX) traded lower in the Dow Jones after reporting earnings. Caterpillar is testing support at its 50-day moving average. Honeywell gave up the 200 level, while Chevron is testing its 200-day line.
Meanwhile, the speculative crazed continued in bitcoin as well as Reddit-fueled stocks like GameStop (GME) and AMC Entertainment (AMC). Bitcoin was off highs but still rallied 8% after Tesla CEO Elon Musk added #bitcoin to his Twitter profile.
Grayscale Bitcoin (GBTC) was off well off highs but still rose 1%. Shares are flat so far this week as GBTC makes a solid test of the 10-week moving average.
After making a nice stand at its 21-day exponential moving average Thursday, Tesla (TSLA) gave up the support level Friday, falling 6%.
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https://www.marketwatch.com/investing/stock/AAPL/options
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https://www.marketwatch.com/investing/stock/TSLA/options
Chamath Palihapitiya Says He Exited GameStop Long Position
Tech investor Chamath Palihapitiya says he exited a long position in GameStop, apparently via options, earning hundreds of thousands of dollars. He'll donate the proceeds.
https://www.thestreet.com/investing/palihapitiya-exits-gamestop
Palihapitiya told CNBC Wednesday, “I ended up closing out my position this morning, and I wanted to announce that I’m taking all the profits that I made plus my original position — I’m going to take $500,000, and I’m going to donate it.”
The short squeeze for multiple companies with poor fundamentals began on Friday when Andrew Left, managing partner of short seller Citron, said it was abandoning GameStop because of harassment from bulls.
Before and after his remarks, retail investors have been buying shares of the videogame retailer like there’s no tomorrow.
Billionaire investor Chamath Palihapitiya on GameStop surge and rise of retail investors
BlackBerry execs sold shares as Reddit-driven rally started
https://www.marketscreener.com/news/latest/BlackBerry-execs-sold-shares-as-Reddit-driven-rally-started--32309898/?countview=0
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https://www.marketwatch.com/investing/stock/KOSS/options
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https://www.marketwatch.com/investing/stock/BB/options
Three BlackBerry executives, including the chief financial officer, sold $1.7 million of the telecoms technology firm's stock in the early days of this month's meteoric share price rise, filings with securities regulators show.
The executives sold their holdings on Jan. 20 at prices ranging from $12.63 to $13.01, nearly double what the stock had been trading at a week earlier.
BlackBerry shares climbed as high as $28.77 in New York on Wednesday and ended trading on Thursday at $14.65.
Chief Financial Officer Steve Rai sold almost 33,000 shares, his entire position in the company, according to a filing made with the U.S. Securities and Exchange Commission on January 21, in a trade valued at $428,731.
Mark Wilson, the company's chief marketing officer, sold 78,500 shares, worth $991,455, according to a filing.
Billy Ho, who leads divisions within Blackberry, sold $259,000 of shares.
All of the executives have sold stock periodically over the past year. The disposals at the start of the Reddit-driven rally represent the largest for the executives in the last year, according to filings.
Koss : Robinhood restricts buying of fractional shares in GameStop, other hot stocks
https://www.marketscreener.com/quote/stock/KOSS-CORPORATION-9831/news/Koss-Robinhood-restricts-buying-of-fractional-shares-in-GameStop-other-hot-stocks-32308976/
a practice that has encouraged smaller investors by reducing the size of the amount they have to bet
Charles Schwab, TD Ameritrade Haven't Halted Any Stock Trading This Week
https://ih.advfn.com/stock-market/NYSE/charles-schwab-SCHW/stock-news/84205101/charles-schwab-td-ameritrade-havent-halted-any-st
Charles Schwab Corp. said Friday that neither Charles Schwab & Co. nor TD Ameritrade halted buying or selling any stocks this week.
The financial company said neither firm restricted buying or selling basic options, though both firms did adjust margin requirements on select stocks to ensure clients had sufficient assets to pay for stock purchases. Both firms also restricted certain advanced options strategies, it said.
In recent days, certain stocks, including GameStop Corp. and AMC Entertainment Holdings Inc., have become part of what is being called a "short-squeeze," with volumes jumping and prices fluctuating wildly.
Schwab said both firms put in place some restrictions on certain types of options transactions to help mitigate risk. For example, they aren't allowing clients to sell naked call options in order to mitigate an unlimited risk situation. These decisions are based on risk and volatility and are made on an individual security basis.
Both firms, as normal course of business, review and alter margin requirements in highly volatile securities. As margin requirements increase, clients are required to hold more equity in their accounts to make trades in these securities.
For GameStop, for example, both firms changed the requirement to 100%, thereby removing margin from the security. This process began Jan. 13, and since that time, clients have been restricted from using GameStop as collateral for a margin loan; before Jan. 13 clients could do so in a limited way.
American Airlines Accepts Delivery of Five Boeing 737 MAX Aircraft Year to Date
https://www.marketscreener.com/quote/stock/AMERICAN-AIRLINES-GROUP-I-15171667/news/American-Airlines-Accepts-Delivery-of-Five-Boeing-737-MAX-Aircraft-Year-to-Date-32310910/
American Airlines Group Inc. said it has accepted delivery of five Boeing 737 MAX family aircraft year-to-date and expects an additional six MAX aircraft to be delivered in the balance of 2021 and 10 MAX aircraft in 2022.
The airline in a Securities and Exchange Commission filing Friday said it has financing commitments in place for three of the six MAX aircraft to be delivered in the balance of 2021. American Air said it doesn't have any financing commitments in place for the 10 MAX aircraft to be delivered in 2022.
"We have the right to defer all of the 13 MAX aircraft deliveries that do not have committed financing to 2023 or 2024," the company said.
American said it hasn't accepted any Boeing 787 aircraft year-to-date and expects 19 787 aircraft to be delivered in the balance of 2021 and none in 2022. The company said it has financing commitments in place for all 19.
The company said it accepted delivery of one Airbus A321NEO aircraft year to date. American expects an additional 15 NEO aircraft delivered in the balance of 2021 and 26 in 2022. The company said it has financing commitments in place for all 15 to be delivered in the balance of 2021, and doesn't have in place financing commitment--third party or backstop--for any of the 2022 NEO deliveries.
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https://www.marketwatch.com/investing/stock/AAL/options
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https://www.marketwatch.com/investing/stock/BA/options
Dow drops more than 600 points for its worst day since October, S&P 500 goes red for the year
https://www.cnbc.com/2021/01/26/stock-market-futures-open-to-close-news.html
Federal Reserve officials left interest rates near-zero and pledged to continue making huge purchases of government-backed bonds as the central bank tries to help the United States economy weather the pandemic’s ongoing hit.
“The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic,” the central bank’s policy-setting Federal Open Market Committee said in its January policy statement.
Fed Chair Jerome H. Powell, speaking at a news conference on Wednesday, said the resurgence of the virus was “weighing on economic activity and job creation,” and that the economic outlook hinges crucially on the pandemic itself.
https://www.nytimes.com/2021/01/27/business/economy/fed-interest-rates-economy.html
Delays in the rollout of Covid-19 vaccines, coupled with lingering lockdown measures, marked a "double whammy" of bad news for investors, said Hani Redha, a portfolio manager at PineBridge Investments.
"I think the market expected that by now we would be talking about loosening, not tightening restrictions," he said. "On the vaccine rollout, this is very problematic for the near term. It is very critical for shaping the growth bounce back, and these issues are just adding more delay to that."
The Dow Jones Industrial Average lost 633.87 points, or 2.1%, to 30,303.17 for its worst day since Oct. 28. The S&P 500 dropped 2.6% to 3,750.77, slipping from a record high and suffering its biggest drop in three months. Wednesday’s steep losses wiped out the 2021 gains for the S&P 500 and it’s now down 0.1% on the year. The tech-heavy Nasdaq Composite slid 2.6% to 13,270.60.
Boeing fell nearly 4% after its earnings report showed its 2020 net loss hit a record of $11.9 billion amid the 737 Max grounding and the coronavirus pandemic. Shares of AMD tumbled more than 6% even after the chipmaker posted revenue and earnings that beat Wall Street’s already high expectations.
But it was intensifying speculative behavior among retail investors that was causing the most concern. Heavily shorted names, including GameStop and AMC Entertainment, continued to be pushed higher by amateur day traders in online chat rooms. Some investors are worried about mounting losses by hedge funds spilling over to other areas of the market as those funds sell other securities to raise cash. Investors are also concerned the speculative behavior is a sign the market is overvalued and a pullback is near.
“We’ve run up so much and this is healthy profit taking,” said John Davi, founder and CIO of Astoria Portfolio Advisors. “There has been a tremendous market melt-up in the past two months. When the market goes up parabolically, you will see speculative behaviors from a lot of investors.”
AMC Entertainment Holdings Inc./ GameStop Corp.
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https://www.marketwatch.com/investing/stock/AMC/options
GameStop Corp.
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https://www.marketwatch.com/investing/stock/GME/options
Nokia
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https://www.marketwatch.com/investing/stock/NOK/options
SOXS Direxion Daily Semiconductor Bear 3X Shares (ETF)
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https://www.marketwatch.com/investing/stock/SOXS/options
Insightful commentary on TNA. Please post more often.
Pat
Biden introduces $1.9 trillion COVID-19 relief package that includes $1,400 stimulus checks
https://www.usatoday.com/story/news/politics/2021/01/14/biden-covid-relief-package-includes-vaccination-stimulus-checks/4164949001/
https://stockcharts.com/freecharts/candleglance.html?SDOW,UDOW,SQQQ,TQQQ,SPXS,SPXL,TZA,TNA,SSG,SMH,FAZ,FAS|C|D20|0
Biden said he would introduce his vaccine distribution plan Friday. During his Thursday remarks, Biden criticized the Trump administration's rollout of the vaccine.
"The vaccine rollout in the United States has been a dismal failure thus far," he said, adding that he "will have to move heaven and earth to get more people vaccinated."
The relief plan also includes:
$170 billion to help reopen schools, as well as provide financial relief to students
Expand to 14 weeks paid sick and family and medical leave
$25 billion in rental assistance and an additional $5 billion to cover home energy and water costs
Extending the 15 percent Supplemental Nutrition Assistance Program (SNAP) benefits increase to September 2021
$15 billion for grants to more than 1 million small businesses
A $20 billion investment to Indian Country to support tribal governments' response to the COVID-19 pandemic
Raising the minimum wage to $15 per hour
Biden’s goal is to provide 100 million vaccinations during the first 100 days of his administration starting Jan. 20. But the pace has been slower than that so far, with 22 million doses distributed and 6.7 million administered by Friday, according to the Centers for Disease Control and Prevention. About 150,000 people have received both necessary doses, according to a New York Times survey of 50 states.
“My No. 1 priority is getting vaccine in people’s arms,” Biden said Monday as he received his second dose. “It’s going to be hard. It’s not going to be easy. But we can get it done.”
Senate GOP torn over convicting Trump: 'There's no love lost'
https://www.cnn.com/2021/01/14/politics/mitch-mcconnell-republican-senator-plans/index.html
So many Senate Republicans, including Senate Majority Leader Mitch McConnell, there's no question in their minds: President Donald Trump committed impeachable offenses.
But getting McConnell and at least 16 other Republicans to convict Trump after he's left office is another question entirely.
"There is no love lost within the Senate Republican Conference for Trump," said one GOP source familiar with internal discussions. "Everybody is ready for this to end. But there is a really open question about how many people will vote to convict him after his term will have expired."
Several senior GOP sources told CNN on Thursday that many Republicans are torn over whether Trump's actions warrant the unprecedented step of prohibiting him from ever serving in office again after he leaves the White House next week.
Republicans say it will ultimately be up to a combination of factors -- the case built by House impeachment managers, whether new information comes out about Trump and the deadly Capitol riot and whether emotions are still raw when it comes time to vote -- to determine whether Republicans will break ranks and end Trump's political career for good.
Privately, Republicans have reviewed internal polling showing Trump's support cratering among GOP voters since Election Day -- especially since last week when he incited a violent mob of his supporters to riot in the Capitol leading to the deaths of five people, two sources said. But even after he leaves office, he is bound to still maintain significant sway with the GOP base, something Republicans facing reelection -- and potential primary challengers -- will be forced to confront.
Republicans are by and large split into several camps. Some, like Arkansas Sen. Tom Cotton, oppose the proceedings because, they argue, it's constitutionally dubious to convict a President once he leaves office, a position many Republicans are bound to take.
"I doubt we can even have a trial for a former President, which is what we are dealing with here," GOP Sen. Kevin Cramer of North Dakota told CNN on Thursday.
Others, such as Sen. Tim Scott of South Carolina, are likely to align with many House Republicans who said that the impeachment proceedings will further divide the country.
"An impeachment vote will only lead to more hate and a deeply fractured nation," Scott, who is facing voters in 2022, said this week.
Yet, some Republicans say that it's critical to lay down a marker to make clear that Congress will not stand for future presidents who may follow Trump's path -- and that the President's actions crossed a clear line that must never be replicated again.
"I believe that this President has committed an impeachable offense," Alaska Sen. Lisa Murkowski told Alaska television station KTUU on Wednesday, adding that it would be "appropriate" for the Senate to bar him from holding office again.
Murkowski Is Latest G.O.P. Senator to Signal Possible Support for Convicting Trump
https://www.nytimes.com/live/2021/01/14/us/impeachment-trump#murkowski-trump
Ms. Murkowski said the second impeachment of Mr. Trump stood “in stark contrast” to the first, which she and virtually every other Republican opposed. She said Mr. Trump had perpetuated “false rhetoric that the election was stolen and rigged” and launched a “pressure campaign against his own vice president, urging him to take actions that he had no authority to do.”
“On the day of the riots, President Trump’s words incited violence, which led to the injury and deaths of Americans — including a Capitol Police officer — the desecration of the Capitol, and briefly interfered with the government’s ability to ensure a peaceful transfer of power,” Ms. Murkowski said.
Her remarks came the day after the House — with support from 10 Republicans — impeached the president on a single charge of “incitement of insurrection,” and as Republicans faced the prospect of a trial that could begin as soon as next week.
Wells Fargo in talks to sell asset management unit to GCTR
https://seekingalpha.com/news/3651523-wells-fargo-in-talks-to-sell-asset-management-unit-to-gctr-reverence-reuters
Wells Fargo (WFC +3.1%) is in exclusive talks to sell its asset management business to a private equity group led by GTCR LLC and Reverence Capital Partners, Reuters reports, people familiar with the matter.
Although the price being negotiated wasn't disclosed, Reuters previously reported that Wells Fargo was seeking more than $3B for the unit.
The sale of the asset management would represent one of the most visible parts of its overhaul undertaken by CEO Charlie Scharf.
Earlier Thursday, WFC announced that it will sell its Canadian Direct Equipment Finance business to Toronto-Dominion Bank; terms of the deal were undisclosed. Last month, it agreed to sell its private student loan portfolio to investors.
Weekly unemployment claims jump to nearly one million as virus rages on
https://www.newsnationnow.com/business/your-money/weekly-unemployment-claims-jump-to-near-one-million-as-virus-rages-on/
The number of Americans applying for unemployment benefits rose last week to almost a million people as the latest unemployment figures still remain at levels never seen until the virus struck.
The latest report released by the Labor Department Thursday shows that the number of people filing for jobless benefits increased by 181,000 to a total of 965,000, the most since late August. The previous week showed a slight decrease.
“The rise and level of new unemployment claims is shocking, at the highest point seen since late August,” said Mark Hamrick, senior analyst at Bankrate. “This reminds us that the economic crisis has not gone away, far from it, at a time when multiple crises have been vying for our attention. It hasn’t helped that administration of COVID-19 vaccines has been slow to gather momentum since the pandemic is at the epicenter of the economy’s ills.”
Trump Refuses To Pay Rudy Giuliani For Legal Work
https://www.yahoo.com/huffpost/trump-wont-pay-rudy-giuliani-election-legal-work-032513094.html?.tsrc=daily_mail&uh_test=1_03
Trump was unhappy with Giuliani’s demand for $20,000 a day in fees and “has privately expressed concern” with some of his attorney’s moves.
The former mayor last year denied seeking that specific amount, claiming a much more unusual fee structure instead.
“I never asked for $20,000,” he told The New York Times in November. “The arrangement is we’ll work it out at the end.”
The Times on Wednesday confirmed the latest Post report, adding that White House officials were blocking Giuliani’s calls to Trump.
Trump has not only refused to pay Giuliani’s legal fees but has told aides that all reimbursement requests for travel and other expenses need to go through him.
Rudy Giuliani Facing New York State Bar Revocation
Haven, the Amazon-Berkshire-JPMorgan venture to disrupt health care, is disbanding after 3 years
https://www.cnbc.com/2021/01/04/haven-the-amazon-berkshire-jpmorgan-venture-to-disrupt-healthcare-is-disbanding-after-3-years.html
Haven, the joint venture formed by three of America’s most powerful companies to lower costs and improve outcomes in health care, is disbanding after three years, CNBC has learned exclusively.
The company began informing employees Monday that it will shut down by the end of next month, according to people with direct knowledge of the matter.
Many of the Boston-based firm’s 57 workers are expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase as the firms each individually push forward in their efforts, and the three companies are still expected to collaborate informally on health-care projects, the people said.
‘Massively concerning’ jobs report sends a signal that the economic recovery could be fading
https://www.cnbc.com/2020/10/02/massively-concerning-jobs-report-sends-a-signal-that-the-economic-recovery-could-be-fading.html
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Weaker-than-expected job growth in September sent a signal that the sharp economic recovery off the coronavirus shutdown may be hitting a wall.
The Labor Department reported Friday that nonfarm payrolls increased by 661,000 in September, held back by declines in government employment and an exodus of workers from the labor force.
In normal times, that type of hiring pace would be considered a sign of a robust job market. The total, in fact, would have been the best month the U.S. had seen since 1983 – if these were normal times and not amid the Covid-19 era that has changed the benchmarks by which economic data is measured.
As it stood, the total was a fairly wide miss from Wall Street’s expectation of 800,000. The unemployment rate fell more than expected to 7.9%, but that was mostly due to a sharp decline in labor force participation.
Taken together, the report is a potential early flare from the business community that a rebound during which 11 million jobs were refilled in four months could be petering out.
“This report is an illusion of progress at a time when we needed accelerating gains in the labor market. The number of jobs added this month is just not enough,” said Nick Bunker, economic research director at job placement site Indeed. “This report is massively concerning. We are not where we need to be, nor are we moving fast enough in the right direction as we head into fall.”
Data has looked good, but ...
The timing of the report is inauspicious in that most of the backward-looking economic indicators have been solid.
Housing stands out the most as the residential market is struggling to find supply to meet all the demand. Retail sales have been solid, and manufacturing is back into expansion after heading in the wrong direction for a few months.
The Citi Economic Surprise Index, which measures the data versus Wall Street expectations, has cooled since soaring to its historic peak in mid-July but still is above anything before the pandemic.
Most tellingly, consumer confidence remains strong. But that may not last, particularly if the jobs numbers weaken and the stock market continues to struggle.
“The real question in my mind is why consumers are so upbeat and why they remain upbeat. Until I can answer that, I don’t know how persistent the expansion is going to be,” said Drew Matus, chief market strategist at MetLife Investment Management. “People are underestimating how long the impact of what we’ve been through is going to last. In that regard, there’s some downside risk to the outlook.”
At the moment, the economy remains mostly in a rally mode off the unprecedented slump in the second quarter brought on by the coronavirus-induced shutdown. GDP is projected to increase by as much as a 32% annualized pace in the second quarter after tumbling 31.4% in Q2 and 5% to start the year.
An accelerating decline in the U.S. dollar is reverberating around the world
https://www.reuters.com/article/us-health-coronavirus-dollar-analysis/king-dollars-decline-ripples-across-the-globe-idUSKCN24T1G5
Further dollar weakness would likely be an unwelcome development for economies such as Europe and Japan, as their own rising currencies threaten to weigh on growth and efforts to spark inflation.
The dollar is down around 3% year-to-date, after rising for each of the last two years. The greenback slid nearly 10% in 2017.
A weaker dollar makes U.S. exports more competitive abroad and helps U.S. multinational companies by making it cheaper for them to convert profits back into their home currency. That’s potentially good news for a rally in U.S. stocks that has slowed in recent weeks after coming within distance of all-time highs.
A 10% fall in the value of the dollar against a basket of trade-weighted currencies would increase 2020 earnings per share by about 3%, Goldman said. Goldman analysts expect the dollar to fall another 5% over the next 12 months.
Other assets are already benefiting from the dollar’s drop. Gold, which like many commodities is priced in the U.S. currency and becomes more affordable to foreign buyers when the dollar falls, stands near its historic high, part of a rally that has driven the S&P/Goldman Sachs Commodity Index .SPGSCI 34% higher since late March, as of Monday.
Developing countries are also likely to cheer a weaker dollar as it makes it cheaper for them to service debt denominated in the U.S. currency.
DJIA open +550 after FDA grands "Fast Track" status to 2 out of 4 Vaccine companies (PFE BNTX) til noon
https://www.fool.com/investing/2020/07/13/pfizer-and-biontech-get-fast-track-designation-for.aspx
after noon, DJIA crashed as CA announced roll-back re-openning, also school will not open as Trump oredered last Friday!
https://www.marketwatch.com/story/dow-surges-nearly-550-points-on-gains-in-shares-of-pfizer-unitedhealth-2020-07-13?siteid=yhoof2&yptr=yahoo
Note: UVXY is only slightly red at open, after 1 hr it stayed in green the rest of the day!
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Direxion 3X Russell Funds
|| http://www.direxionshares.com/etfs || 3X Bull: BGU TNA ERX FAS || 3X Bear: BGZ TZA ERY FAZ || ETF Summary || 2X Commodity/Yen ETF || ETF Options ||
ETF | Large Cap | Small Cap | Energy | Financial | ||||
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Top Holding | Top Holding | Top Holding | Top Holding | |||||
2x | DDM | DXD | UWM | TWM | DIG / DXO | DUG / DTO | UYG | SKF |
1x | IWB | DOG | IWM | RWM | XLE | DDG | XLF | SEF |
Options | Mar 35.0 call | Mar 30.0 call | Mar 40.0 call | Mar 10.0 call |
ETF | ||||||||
3x | SPXL | SPXS | TNA | TZA | ERX | ERY | FAS | FAZ |
Top Holding | Top Holding | Top Holding | Top Holding | |||||
2x | DDM | DXD | UWM | TWM | DIG / DXO | DUG / DTO | UYG | SKF |
1x | IWB | DOG | IWM | RWM | XLE | DDG | XLF | SEF |
Options | Mar 35.0 call | Mar 30.0 call | Mar 40.0 call | Mar 10.0 call |
|| Large/Small Cap Comparison || Russell 1000 Index || ETF - Bios || 36 New Fund || 36 New Fund ||
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ETF. . .EWH (HK), EWT(TW), EWY(KR), EWJ(JP), EWM(Malaysia)
ishares msci etf => https://www.ishares.com/us/products/etf-investments#!type=ishares&fr=43526&fc=43537%7C43769%7C43544%7C43568%7C43570%7C43571%7C43579%7C43582%7C43593%7C43606%7C43614%7C43617%7C43624%7C43628&usS=136&usS3=144%7C159%7C162%7C165%7C168%7C171%7C174&view=keyFacts
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ProShares UltraProshares: https://www.proshares.com/funds/umdd.html
Leveraged 3X Long/Bull ETF List: https://etfdb.com/themes/leveraged-3x-long-bull-etfs/
Leveraged 3X Inverse/Short ETF List: https://etfdb.com/themes/leveraged-3x-inverse-short-etfs/
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http://www.velocitysharesetns.com/tvix
http://etfdb.com/index/nasdaq-biotechnology-index/
http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=9&dy=0&id=p14393644199
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