Category Archives: Penny Stocks & Picks

Stocks Now Mixed, S&P Still Higher

HTML clipboard FRIDAY – The S&P 500 was steady Friday as the benchmark index looked to close out its second consecutive positive week.

Overall, stocks were mixed early.

For the week, the S&P 500 and Nasdaq are up more than 1% and 2%, respectively. The Dow is marginally higher.

The S&P 500 is now up more than 3% in March, more than erasing its losses since Russia invaded Ukraine late last month.

The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year – some analysts saying as many as seven increases.

On Monday, Fed Chair Jerome Powell vowed to be tough on inflation. The remarks came after the Federal Reserve raised interest rates for the first time since 2018 last week, with hikes coming at each of the six remaining policy meetings this year.

Powell noted rate hikes could go from quarter-percentage-point moves to more aggressive half-point increases.

The central bank chief’s comments led Wall Street to raise rate hike expectations, with firms from Goldman Sachs to Bank of America penciling in half-point hikes in future Fed meetings this year.

Meanwhile, investors looked to promising signs the economy can run strong even as the Fed tightens monetary policy to address inflation.

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S&P Posts Best Weekly Gain Since November

SUNDAY – Stocks posted strong weekly gains, led by tech shares, as investors cheered renewed optimism on the U.S.-China trade front on Friday.

The Dow Jones Industrial Average climbed 138.93 points to 25,848.87 as Boeing shares turned around to close 1.5 percent higher. Boeing’s turnaround was sparked by a report saying the company planned to roll out a software upgrade for its 737 Max aircraft. The stock had been under pressure all week after an Ethiopian Airlines flight using a 737 Max plane crashed on Sunday, which prompted several countries to ground flights involving the plane.

Gains in the tech and consumer discretionary sectors pushed the S&P 500 up 0.5 percent to 2,822.48. Tech shares also bolstered the Nasdaq Composite, which climbed 0.8 percent to 7,688.53.

The S&P 500 and Nasdaq Composite both rose at least 2.9 percent, though the laggard Dow gained only 1.7 percent amid Boeing’s troubles. The S&P 500 also posted its biggest one-week gain since November.

Stocks have been on a tear this year, with the three major indexes rising more than 10 percent each in 2019.

This week’s gains were largely led by tech shares, as the sector surged 4.9 percent. The tech sector also became the best-performer of 2019. Nvidia was the best-performing stock in the sector, rising more than 12 percent while fellow semiconductor stocks like Broadcom and Lam Research also rose sharply this week.

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Nasdaq Hits New Highs

WEDNESDAY – Stocks rose on Wednesday, boosted by dealmaking activity and potentially improving trade relations between the U.S. and the European Union.

The Nasdaq composite rose 1 percent and hit an all-time high, led by Facebook and Netflix, which also reached record levels. The S&P 500 gained 0.4 percent, with technology stocks outperforming.

The Dow Jones industrial average, meanwhile, rose 10 points as it tired to snap its longest losing streak since March 2017.

Disney raised its bid for Twenty-First Century Fox assets to $38 per share, or $71.3 billion, surpassing an offer made by rival and NBCUniversal parent Comcast. Last week, Comcast bid $65 billion in cash for Fox assets which include FX, Star TV and stakes in Sky.

The bid sent Fox shares higher by 7.3 percent.

Stocks fell on Tuesday as trade tensions between the U.S. and China intensified. The Dow led the way lower, sliding nearly 300 points and erasing its gains for 2018.

Small cap and penny stock index Russell 2000 also jumped higher Wednesday.

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Small Cap Stocks Lead The Markets Higher

Size doesn’t matter when it comes to US stocks, because investors seem to prefer small companies over big ones in 2018.

That’s a sign of the continued strength of America’s economy as small-caps tend to move earlier than later stocks whether up or down.

The Russell 2000, an index that includes shares of mostly smaller US companies, is up nearly 7% this year and is trading at an all-time high this week.

The Dow and S&P 500, both of which are home for industry giants like Apple, Disney, Coca-Cola and Boeing are up just 1% and 2% respectively. They are both still trading about 5% below their record highs.

Why?

To start, many smaller businesses in the Russell 2000 are growing their profits at a faster rate than the giants of the Dow and S&P 500.

Earnings for the Russell 2000 companies are expected to increase more than 40% this year and another 23% in 2019. That’s much better than analysts’ forecasts of a 20% jump in earnings for S&P 500 companies this year and 10% next year.

We see this continuing throughout the rest of 2018. Investors would be wise to consider smaller stocks as they tend to move higher faster when things are going well and lead the overall markets.

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Stocks Mixed On Huge Earnings Day

U.S. stocks traded mixed on Tuesday as one of the busiest days of the earnings season got under way.

The Dow Jones industrial average traded slightly lower, with Procter & Gamble contributing the most gains to the tune of 20 points, but Home Depot shaved off approximately 20 points. The S&P 500 fell 0.1 percent, with consumer discretionary leading decliners. The Nasdaq composite held around breakeven.

More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell. Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.

Coming Up:

Tuesday

Earnings:

ATB: Apple, AT&T, Chipotle Mexican Grill, Capital One, Discover Financial, Express Scripts, Juniper Networks, Vertex Pharma, iRobot, Pandora Media, Panera Bread, Owens-Illinois

9 a.m.: Case-Shiller Home Price Index

9 a.m.: FHFA Home Price Index

10 a.m.: Consumer confidence

1 p.m.: $26 billion two-year Treasury note auction

Wednesday

8:30 a.m.: U.S. trade deficit

9:45 a.m.: Markit services PMI

10 a.m.: New home sales

1 p.m.: $34 billion five-year Treasury note auction

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Nasdaq briefly positive; Street awaits Fed

WEDNESDAY – U.S. stocks traded in narrow range Wednesday after morning data and ahead of the scheduled afternoon conclusion of the Fed meeting.

Treasury yields climbed, with the 2-year topping 1 percent for its highest since Jan. 8, after inflation and housing data.

Stocks opened lower and held mostly in the red in morning trade. The Nasdaq composite briefly attempted gains.

The FOMC is due to conclude its two-day meeting on Wednesday with the 2 p.m. ET release of its statement and economic projections. Those include the highly scrutinized “dot plot,” which shows the targets for appropriate federal funds rates by FOMC participants. Fed Chair Janet Yellen is also scheduled to give a news conference at 2:30 p.m.

Oil traded higher, with WTI above $37 a barrel following news producers will meet next month in Qatar to discuss a proposal to freeze output.

Coming Up:

Wednesday

Earnings: FedEx, Ctrip.com Intl., Guess, Herman Miller, Jabil Circuit
10:30 a.m.: Oil inventories
1 p.m.: European Central Bank President Mario Draghi gives welcoming remarks at ECB Contemporary Art From Poland Exhibition
2 p.m.: FOMC meeting announcement
2:30 p.m.: Fed Chair Janet Yellen press conference

Thursday

Bank of England monetary policy announcement and minutes
Earnings: Tencent, Michaels Cos., Intl. Game Technology, Lands’ End, Adobe Systems
8:30 a.m.: Jobless claims
8:30 a.m.: Philly Fed business outlook survey
8:30 a.m.: Current account
10 a.m.: JOLTS
10 a.m.: Leading indicators
10:30 a.m.: Natural gas inventories
4:30 p.m.: Fed balance sheet/Money supply

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Are Small Caps Less Risky Than You Think?

Here’s a thing I like about small companies. In many cases, the people who run them aren’t just executives — they’re proprietors who took massive risks to build what exists today and who run themselves ragged to make sure that what does exist will be even better in the future. While I’ve met hundreds of extremely competent, dedicated executives over the years, there’s just something different about the person who scratch-built a company. To him or her, there is no such thing as a better employment offer around the bend. There’s no such thing as down time, or weekends, or even hobbies. This company is it. There’s no pushing ideas through some big committee. That person is the committee.

Maybe those kinds of companies sound a little risky to you. After all, doesn’t classic finance hold that, all else being equal, the smaller a company is, the riskier it is? Well, yes, on a company-by-company basis, those with smaller market capitalizations are riskier in terms of volatility and potential for total loss.

I believe, all else being equal, that this is insane in the aggregate. There is no reason that a portfolio of well-researched, quality small-cap companies should be riskier than one consisting of large-cap companies.

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