Hello MarketClub members everywhere. Stocks are trading higher today as all eyes turned to Washington for Donald Trump's inauguration.
The Dow gained more than 100 points before sliding lower as Trump took office, with The Procter & Gamble Company (NYSE:PG) and International Business Machines Corporation (NYSE:IBM) contributing the most gains.
The broader stock market had rallied significantly since Trump's victory on the hopes of more government spending, lower corporate taxes and deregulation of some sectors. However, stocks have traded mostly sideways for the past month as investors look for more details about Trump's proposed policies. Which trend will prevail in the long-run?
Key levels to watch next week: Continue reading "Stocks Rise As Trump Takes Office"
Hello MarketClub members everywhere. J.P. Morgan Chase & Co. (NYSE:JPM) quarterly earnings pushed well past analysts' expectations, helped by double-digit growth in deposits and record credit card sales. The company reported fourth-quarter earnings of $1.71 vs. estimates of $1.44 per share on revenue of $24.333 billion. It's stock price edged higher in intraday trading this morning, but has backed off the highs this afternoon.
"Our results this quarter were a strong end to another record year, reflecting our intense client focus and solid performance across our businesses," Dimon said in a release, citing a U.S. economy that may be building momentum.
Some in the media have dubbed it, "the best quarter ever for a bank". What do you think?
Key levels to watch the rest of the week: Continue reading "Best Quarter Ever For A Bank"
Hello MarketClub members everywhere. Earning season kicks off with a trio of big banks, J.P. Morgan Chase & Co. (NYSE:JPM), Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC) are all due to release earnings on Friday. Wells Fargo will be in the spotlight after its high-profile stumbles in 2016, including the account-opening scandal that led to the ouster of its CEO and the failure to get its living will approved by regulators. Investors will be watching for how these issues are impacting the bank's financial results.
On the data side, retail sales will be eyed. The November data showed a slowdown from the previous two months. We'll see if higher consumer sentiment readings translate into a strong month for sales.
Key levels to watch the rest of the week: Continue reading "Keep An Eye On The Big Banks And Retail Sales This Week"
Hello MarketClub members everywhere. Recently we have heard a lot about fake news, well fake news or rumors have been a part of the market since the markets began trading. The question is do they really make a difference, the answer is over the long-term no, in the short-term possibly. The good news is that they are not important and you should not pay much attention to them. The reason I say, that is because there is an easy, simple solution to capturing significant moves in the market.
Here is the simple solution, the Trade Triangles. Continue reading "Fake News Stories, Do They Really Matter?"
Hello MarketClub members everywhere. Well, it looks like we will all be paying higher prices at the pump over the holiday season. On 22 November, a weekly Trade Triangle kicked in on February crude oil (NYMEX:CL.G17.E) $49.96 indicating that prices were headed higher. This morning crude oil is trading at $54.60 and appears to be headed to the $60 range in the near term.
Technically speaking after hitting a low of around $36 a barrel in early January 2016 this commodity has seen a remarkable comeback. Energy is an essential element in the economy not just for industries but also for consumers. However, we are still half the price we were just a few years ago and that is a good thing. In today's video, I will be analyzing crude oil and show you exactly where I think this market can go in the near-term and the long-term. Continue reading "3 Energy Stocks That Are Good To Go"