After an incredible run higher over the past couple of years and an especially remarkable ramp to kick off 2018, the FANG (Facebook, Amazon, Netflix, and Alphabet, aka Google) stocks have recently come under some selling pressure leaving many investors to wonder whether this presents a unique buying opportunity in the group. While it may be true…
The March US Services Purchasing Managers’ Index conducted by Markit came in at 54.0 percent, down 1.9 from the final February estimate of 55.9. The Investing.com consensus was for 54.3 percent. Markit’s Services PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Here is the opening from the…
Trading Strategy According to Goldman Sachs, the first three weeks of April are a popular time for companies to preannounce their results, and given the number of issues investors are looking for clarity on, including the impact from the recently passed tax bill, the prospect of protectionist trade policies and whether management teams are seeing…
Busted Biotech Stocks: What’s the Next Trade? Rayno Life Science Portfolio Update: Needs Re-Balancing Rayno Life Science Stocks had a good run until early March 2018 when most life science stocks were hit hard. With all the bad news from recent clinical data ABBV, ALKS and uncertainties from macro and policy issues (tariffs+ rising rates), the market does…
Factory orders rose 1.2% in February vs a consensus estimate of 1.7%. Excluding transportation, orders rose 0.1%. The Census Bureau reports Factory Orders rose 1.2% in February, well under the Econoday consensus estimate for factory orders was 1.7% Revisions took January from -1.4% to -1.3%. Excluding transportation, orders rose only 0.1%. Econoday sees it this way. The book on…
Stocks Rally On Tuesday The S&P 500 was up 1.26% on Tuesday. The VIX was down 10.67% to 21.10 which is still relatively high. Every sector was up. The best ones were energy and healthcare which increased 2.14% and 1.52% respectively. Some traders have expressed hope that another sector such as the financials will take the…
As reported by ForexLive earlier (and Finance Magnates), there is a login issue at Binance and it has created more fears about a possible hack (or other liquidity fears) sparking FUD-driven selling pressure across the crypto space. The entire crypto space is back in the red for the week… With Bitcoin is back below $7000… and Finance Magnates beginning a couple…
Shares of AMD (AMD) and Nvidia (NVDA) are falling after China-based bitcoin mining company Bitmain announced a new specialized mining system for ethereum. NEW MINING SYSTEM: China-based Bitmain has unveiled a specialized digital currency mining system for ethereum, which analysts have predicted could harm demand for graphics cards, potentially impacting AMD and Nvidia, CNBC reported…
The Institute of Supply Management (ISM) has now released the March Non-Manufacturing Purchasing Managers’ Index (PMI), also known as the ISM Services PMI. The headline Composite Index is at 58.8 percent, down 0.7 from 59.5 last month. Today’s number came in below the Investing.com forecast of 59.0 percent. Here is the report summary: “The NMI® registered 58.8 percent,…
