All posts by Todd Mitchell

Fed Minutes Not Much Impact

The stock market traded in a narrow range ahead of and after the latest meeting minutes from the Federal Reserve before closing mixed on Wednesday. The Fed noted the economy was far from achieving their broad-based goal of maximum employment, suggesting a sharper and more sustained rebound would be needed before policymakers begin to think […]

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Jeff Bezos says he supports a hike to corporate tax rate

Amazon CEO Jeff Bezos on Tuesday voiced support for raising the corporate tax rate but stopped short of saying he supports President Joe Biden’s plan for the increase. “We support the Biden Administration’s focus on making bold investments in American infrastructure,” Bezos said in a statement. “We recognize this investment will require concessions from all sides […]

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Bulls Take a Breather

The stock market traded in a tighter range on Tuesday before ending slightly lower as Wall Street took a breather following Monday’s record-setting rally. The blue-chips and small-caps showed the most weakness despite a strong JOLTS report with job openings climbing 268,000 to 7,370,000 in February.   While this underscored the increasingly good news on the […]

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Extreme Option Profits Chart of Day…Nio (NIO)

After falling from about $64 to $39.66, Nio (NIO) found double bottom support and is just beginning to pivot higher.  RSI, MACD, and Williams’ %R are also deep in oversold territory.  From here, we’d like to see the NIO stock retest its 50-day moving average around $49. Helping, Nio deliveries are still strong, despite the […]

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Dow and S&P 500 Touch Another Round of Record Highs

The stock market had a strong showing on Monday following a blowout employment report on Friday, which revealed the economy added a stunning 916,000 jobs last month with the unemployment rate falling to 6%. Better-than-expected economic news also fueled bullish sentiment and comes ahead of a busy week for Fed speak.   The Nasdaq tested an […]

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GE could rebound to levels not seen in more than three years if it clears this hurdle, trader says

President Biden’s infrastructure plan is a boon for clean energy, and one unsuspecting winner could be General Electric. The company’s investments in wind turbines are beginning to challenge Siemens and Vestas Wind Systems among others. CEO Larry Culp has made renewable energy a big priority – GE projects the segment will post revenue growth in the […]

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S&P 500 Clears 4,000 level

S&P

The stock market showed continued momentum on Thursday as the major indexes started off April with solid gains. Better-than-expected economic news and fresh details of President Biden’s $2.3 trillion infrastructure plan fueled bullish sentiment. Technology led the surge higher with the Nasdaq clearing and holding a key level of resistance while the S&P 500 set […]

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Extreme Option Profits Chart of Day…US Steel (X)

President Biden’s infrastructure bill could put $621 billion into transportation infrastructure such as bridges, roads, public transit, ports, airports and electric vehicle development. It could also: Inject more than $300 billion into improving drinking-water infrastructure, expanding broadband access and upgrading electric grids Put more than $300 billion into building and retrofitting affordable housing, along with […]

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S&P 500 Tags Fresh Record High

The stock market closed mostly higher on Wednesday on the heels of President Biden’s infrastructure program that was unveiled in Pittsburg, PA. Estimates have the price tag at $2.3 trillion, with the program focused on infrastructure, housing, green energy and manufacturing. While additional stimulus might be welcomed by Wall Street, the prospect of higher taxes […]

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Lululemon forecasts better-than-expected sales as digital business accelerates

Lululemon on Tuesday reported revenue and profit for the fiscal fourth quarter that topped analysts’ estimates, boosted by the athletic apparel maker’s online business, and double-digit sales growth in both its women’s and men’s divisions.It offered an upbeat outlook for sales during the current quarter and for the year, anticipating consumer demand for its sweat-wicking […]

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