All posts by Todd Mitchell

Coronavirus fears are pushing investors back into stay-at-home trades

Investors are bailing on a popular trade due to the coronavirus surge. Allianz Global Investors’ Mona Mahajan finds a rush of money is flowing back into stay-at-home plays. “The cyclical story is on hold for now,” the firm’s U.S. investment strategist told CNBC’s “Trading Nation” on Thursday. “The trade is moving out of that reopening, cyclical trade […]

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Tech Tags Another Lifetime High

S&P

The market was weak throughout much of Thursday’s session as risk-off sentiment returned following a Supreme court ruling that will allow the grand jury to have access to President Trump’s tax returns and other financial records. The Court blocked Congress’ access to the records, but the ruling magnified nervousness over the November presidential election and […]

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Extreme Option Profits Chart of Day…Novavax (NVAX)

Over the last few days, shares of Novavax (NVAX) exploded higher.All after the U.S. government awarded the company a $1.6 billion contract to cover the testing, commercialization, and manufacturing of a potential vaccine — the biggest award issued from the White House’s “Operation Warp Speed” program.“What this Warp Speed award does is it pays for […]

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Bulls Regain Momentum

The market was choppy for much of Wednesday’s session before gaining momentum during the second half of action and into the final hour. The fact that new coronavirus cases confirmations in the U.S. saw a record 60,000 additions in one day weighed on sentiment before Tech led the overall market higher while recording its 25th […]

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Walmart’s stock rises 7% on report of Amazon Prime competitor coming this month

Walmart’s answer to Amazon Prime will launch this month, according to a report by Vox’s Recode. The big-box giant confirmed in February that it plans to roll out a subscription-based service called Walmart+, but it hasn’t revealed details or its strategy to attract members and stand out from competitors. Shares rose by nearly 7% Tuesday to close at $126.95. The […]

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Bears Make an Appearance

Recession

The market traded lower throughput much of Tuesday’s session on worries of increased coronavirus concerns and a pause or pullback in reopenings. Fresh worries the bounce in the economy could limit or even thwart additional stimulus recovery funds also weighed on sentiment.The losses helped cool near-term and slightly overbought levels after the Nasdaq’s tagged its […]

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Extreme Option Profits Chart of Day…3M (MMM)

The U.S. needs more face masks – and fast.Dr. Anthony Fauci just said the U.S. is “going in the wrong direction” and “would not be surprised if we go up to 100,000 a day if this does not turn around.”Making the situation far worse, the U.S. just ran out of free face masks.  And with […]

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Blue-Chips Recover 200-Day Moving Average

tariff

The market settled higher to kick off the first full week in July, with traders pegging at least part of the bullishness on Wall Street to a powerful rally in the Chinese markets and better-than-expected economic news here at home. The gains helped push the major indexes towards early June peaks with volatility falling to […]

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Dow jumps 300 points to start the week as Wall Street shakes off a rise in virus cases

Stocks traded sharply higher on Monday as Wall Street tried to build on the momentum from last week’s solid performance and shake off a continued rise in coronavirus cases. The Dow Jones Industrial Average rose 300 points, or 1.2%, while the S&P 500 gained 1.3%. The tech-heavy Nasdaq Composite jumped 1.8% to an all-time high. There were […]

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Stocks rally on record jobs gain, but bonds reflect concern that virus spread could slow hiring

U.S. Defense Department

Stocks rallied on a much stronger-than-expected gain in hiring, but the bond market appears to be looking to the future and there are real doubts about whether the pace of job growth can be sustained if the coronavirus continues to spread. June’s employment report Thursday showed a record gain of 4.8 million jobs, about 1.8 million […]

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