All posts by Todd Mitchell

Dow jumps 360 points on virus treatment hope, Netflix leads Nasdaq to another record

Netflix Stock

Stocks rose Friday as news about a potential coronavirus treatment increased hope for an economic recovery following the outbreak. Tech stocks also continued their winning week. The Dow Jones Industrial Average traded 369.21 points higher, or 1.4%, to 26,075.30. The S&P 500 climbed 1%, or 32.99 points, to 3,185.04. The Nasdaq Composite rose 0.6%, or 69.69 […]

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Tech Stays Hot with 26th Record Close for 2020

The market schrugged off premarket weakness on Friday after a major drug company said a review of previously disclosed clinical trial data for a drug for coronavirus can reduce the risk of mortality in patients. The news led to a mixed open with weaker-than-expected economic news before a session long rally ensued with strength into […]

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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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