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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Small-Caps Show Strength in Lackluster Action

Value Stocks

The stock market showed continued weakness on Tuesday despite a blowout consumer confidence number as rising rates once again weighed on Tech and the broader indexes. The Conference Board’s closely watched consumer confidence index increased to 109.7 in March from 90.4 in February, representing the highest level since the start of the pandemic. Meanwhile, the […]

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

Keep an eye on steel stocks such as US Steel (X) and Nucor (NUE) this week.  Joe Biden has been meeting with economic advisers on a potential $3 trillion package of investments for infrastructure. He’s expected to release further details of his potential program in Pittsburgh over the next few days. In addition, Treasury Secretary […]

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Selling Pressure Returns on Hedge Fund Liquidation

The stock market closed mostly lower on Monday following news of the sudden unwinding of positions by a major hedge fund. Specifically, Archegos Capital Management was forced into selling Chinese tech stocks and U.S. media firms on Friday and yesterday which caused some of the nervousness. Bank stocks slumped after Credit Suisse (CS) warned that they […]

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Dow, S&P 500 Post Weekly Gains

The stock market rallied in the final hour of trading as better-than-expected news carried bullish sentiment throughout the session. Specifically, consumer sentiment improved to 84.9 in the final March reading, versus 83 in the preliminary report.   The gains lifted the Dow and S&P 500 to weekly wins while the Nasdaq and Russell 2000 posted […]

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Bulls Snap Two-Session Slide

The stock market shrugged off a weak first half of trading to close higher on Thursday and snap a two-session losing streak. Better-than-expected news on jobless claims provided some relief as unemployment benefits dropped to a one-year low. This was a positive sign that the U.S. economy is on the verge of stronger growth as the […]

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Extreme Option Profits Chart of Day…Plug Power (PLUG)

Hydrogen stocks pulled back the other day on news Plug Power (PLUG) would have to restate earnings for 2018 and 2019. “The accounting related to the restatement is complex and technical and involves significant judgments in how to apply U.S. GAAP, given the innovative nature of the company’s business and its leading position in a […]

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Market Stumbles for Second-Straight Session

U.S. economy

The stock market showed strength throughout Wednesday’s session but suffered another round of late day selling pressure as Wall Street digested ongoing comments from Federal Reserve speakers Powell and Yellen. Much of the commentary reiterated the central bank’s stance that any inflation appearing this year will be transitory, and not significant enough to warrant a […]

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Late Day Selling Pressure Returns

The stock market traded in a tight range on Tuesday before selling pressure returned in the final hour to give the victory to the bears. Rising coronavirus cases overseas prompted an extended lockdown in Germany while commentary from Fed Chair Powell and Treasury Secretary Yellen weighed on sentiment. Powell and Yellen both stated more must […]

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