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 The bad news is you’re probably paying the highest U.S. gasoline prices you’ll see this year. The good news is demand for the fuel is set to drop more than it usually does in September, taking prices down with it, according to the Oil Price Information Service. Assuming no major disruptions from Atlantic storm activity, “the direction of fuel prices should be lower through the rest of the year,” Tom Kloza, global head of energy analysis at the Oil Price Information Service (OPIS) by IHS Markit, told MarketWatch. “One can easily make a case for the average price…and median price dropping well below $3 a gallon.” The national average price for gasoline was at $3.18 a gallon on Tuesday, according to AAA, a fraction of a cent below the week-ago average. “With COVID cases levels on the rise, there are more than the usual worries about demand declines for motor fuel,” wrote Denton Cinquegrana, chief oil analyst at OPIS, in a report released to clients on Tuesday. Gasoline prices traditionally decline from August into September as schools reopen and U.S. family vacation travel become much more limited, he said. However, “the wave counts for COVID cases may have an inverse relationship with gasoline demand.” Last year, OPIS said the Energy Information Administration showed that August to September seasonal gasoline demand edged up by 0.4%. For 2019, the EIA showed a 6.5% decline for the period.
That does “not bode well for post-Labor Day gasoline demand and may also cause some demand hiccups for the holiday weekend,” he said. Labor Day falls on Sept. 6. Even before COVID, the seasonal decline from August to September has become “more drastic,” he said, with demand dropping by around 2% or so in 2015 and 2016, according to the EIA, but swelling to a loss of 6% in 2018 and 2019. Cinquegrana also said there are worries about demand for jet fuel, noting that search volumes from flight-search website Kayak show that over the past week, air travel inquiries have been about 40% below the same period in 2019. “Some might argue that less air travel could boost driving trips of several hundred miles,” said Cinquegrana, but the “more cogent worry involves supply.” Refiners with “lower prospects for jet fuel sales can limit the jet yield, but only if they increase cuts for gasoline or diesel,” he said, implying supply increases for gasoline and diesel. U.S. gasoline demand may still top 9 million barrels a day when the EIA reports the Labor Day surge figure on Sept. 9. However, “a 6.5% drop from recently flat levels implies weekly EIA reckonings below 9 million b/d,” said Cinquegrana. OPIS expects gasoline consumption to continue to “trail 2019 by double-digit percentages, suggesting considerably lower numbers,” he said. Have a fantastic day and I hope today’s article helps in your trading.  The post Gasoline prices may have reached their peak for the year appeared first on Trading Concepts, Inc.. |
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The stock market fell on Tuesday, with the broader market recording its biggest one-day percentage drop in roughly a month, as retail sales raised concerns about the economic recovery. The Commerce Department reported retail sales fell by 1.1% in July from June. Specifically, spending at online and other non-store retailers fell 3.1% while sales at car dealers fell 4.3%. The pullback snapped five session winning streaks for the Dow and S&P 500 with volatility rising back above a key level of resistance. The Russell 2000 tagged a midday low of 2,152 while closing at 2,177 (-1.2%). Prior and upper support from mid-July at 2,175-2,150 was breached but held. A drop below the latter would indicate additional weakness towards 2,125-2,100 with the July bottom at 2,107. Below is a chart of the IWM. The Nasdaq ended at 14,656 (-0.9%) with the afternoon low hitting 14,550. Near-term and upper support at 14,650-14,500 was breached but held for the second-straight day. A move below the latter and the 50-day moving average reopens downside pressure towards 14,350-14,200. The Dow tested an intraday low of 35,120 before settling at 35,343 (-0.8%). Fresh and upper support at 35,250-35,000 was tripped but held. A close below the latter below would suggest an ongoing fade towards 34,750-34,500 and the 50-day moving average. The S&P 500 tapped a low of 4,417 while finishing at 4,448 (-0.7%). New and upper support at 4,425-4,400 was breached but held. A close below the latter would likely lead to additional weakness towards 4,375-4,350 and the 50-day moving average.
ANALYST UPGRADES/DOWNGRADESAppLovin (APP) upgraded to Equal Weight from Underweight at Morgan Stanley   WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: Bath & Body Works (BBWI), Cisco Systems (CSCO), DLocal (DLO), Grindrod Shipping (GRIN), Keysight Technologies (KEYS), Nvidia (NVDA), Robinhood Markets (HOOD), Synopsys (SNPS), Victoria's Secret & Co. (VSCO), ZTO Express (ZTO) WEDNESDAY'S ECONOMIC NEWS   METALS/ OIL   Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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The stock market recovered from its opening losses to end mixed on Monday as Wall Street overlooked geopolitical and ongoing covid concerns. The chaos in Afghanistan and disappointing economic news out of China weighed further on global markets with the late day rebound here at home sending the broader market and the blue-chips higher.
Tech and the small-caps struggled but held key levels of support while recouping some of their losses. Meanwhile, volatility edged higher for the first time in four sessions but held a key level of resistance despite the choppiness.
The Dow traded to a late day record high of 35,631 before closing at 35,625 (+0.3%). Unchartered territory and new resistance at 35,750 was challenged but held. A move above this level would be an ongoing bullish development for continued strength towards 36,000.
The S&P 500 tested an all-time high of 4,480 while ending at 4,479 (+0.3%). Fresh and key resistance at 4,475 was cleared and held. Continued closes above this level would likely suggest additional momentum towards 4,500-4,525.
The Nasdaq fell to an opening low of 14,610 before settling at 14,793 (-0.2%). Current and upper support at 14,650-14,500 was breached but held. A close below the latter and the 50-day moving average would signal risk towards 14,350-14,200.
The Russell 2000 finished at 2,203 (-0.9%) with the morning low reaching 2,192. Upper support at 2,200-2,175 was tripped but held. A move below the latter would suggest a retest towards 2,150-2,125 with the July 19th low at 2,107. Below is a chart of the IWM.
ANALYST UPGRADES/DOWNGRADESChildren's Place (PLCE) upgraded to Buy from Neutral at B. Riley Chipotle (CMG) downgraded to Outperform from Strong Buy at Raymond James TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Agilent Technologies (A), Best (BEST), Cree (CREE), Harbor Custom Development (HCDI), Instructure (INST), Jack Henry & Associates (JKHY), Krispy Kreme (DNUT), La-Z-Boy (LZB), Noah Holdings (NOAH), QuickLogic (QUIK), VTEX Commerce Cloud Solutions (VTEK) TUESDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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The global push for electric vehicles is only accelerating. All as the world pushes for lower emissions. The U.S. for example just pledged to reduce emissions by up to 52%, which could provide a sizable boost to the EV industry. The UK just announced plans to stop the sale of diesel and gasoline vehicles by 2030, opting for EVs. Germany unveiled a budget, which includes subsidies for electric vehicle buyers. Israel announced it will phase out fossil fuel vehicles by 2030.
In addition, according to “A new report by Cairn Energy Research Advisors, a research firm focused on the battery and EV industries, predicts a surge in electric vehicle sales in 2021 as countries around the world push new programs to encourage consumers to buy battery powered vehicles. Cairn estimates global sales of EVs in 2021 will jump 36% and top 3 million vehicles for the first time ever.” However, for the EV industry to succeed, it must have far more supply of lithium. For that reason, pay close attention to Albemarle (ALB) and Lithium Americas (LAC). This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of Day… Lithium Americas (LAC) appeared first on Trading Concepts, Inc.. |
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Major U.S. stock indexes slipped Monday to start the week amid fears of slowing global growth, with China’s economic recovery lagging and oil prices falling. The Dow shed about 140 points, or roughly 0.4%. S&P 500 dipped around 0.6% and the Nasdaq Composite fell about 1.3%. Data showed Chinese economic growth slowing more than expected. China’s retail sales increased by 8.5% in July year-over-year, below the 11.5% forecast from economists polled by Reuters. Online sales gained just 4.4% for the month. On the manufacturing sector in the country, industrial production increased by 6.4%, below the 7.8% consensus estimate. The country’s National Bureau of Statistics noted an impact from Covid and domestic flooding, saying the country’s “economic recovery is still unstable and uneven.” “Delta driven slowdown grips China,” CNBC’s Jim Cramer said in a tweet. “Not sure of impact here yet.” Oil prices dropped after the release of the Chinese economic data. U.S. oil benchmark West Texas Intermediate crude futures fell, pressuring energy names. Occidental Petroleum shed roughly 4%, Exxon Mobil pulled back about 2% and Chevron dropped more than 1%. The yield on the benchmark 10-year Treasury note dipped to 1.238% as investors worried about global growth. Bond yields fall as their prices rise. Bank stocks trended lower as the 10-year yield fell. Bank of America, JPMorgan Chase and Goldman Sachs each dropped around 1%.
Retail stocks inched higher ahead of quarterly earnings reports from major companies. Walmart gained about 1% ahead of its quarterly report slated for Tuesday. Home Depot and Lowe’s both edged higher ahead of financial reports this week. Tesla’s stock retreated Monday after the National Highway Traffic Safety Administration announced a formal probe into the electric vehicle maker’s Autopilot partially automated driving system. Shares of Moderna, which are up more than 240% this year, lost more than 6%. U.S. stocks also pulled back amid growing support within the Federal Reserve to announce a tapering of its bond purchases in September and begin the reduction in buying a month or so after. Interviews with central bank officials, along with their public comments, show growing support for a faster taper timeline than markets had expected a month ago. The major stock indexes for much of the last month have ground to new records on the back of robust corporate earnings results. The S&P 500 has closed at a record high 48 times this year out of 155 trading days, or 31% of the time — the most frequent closing highs on record back to 1950. Eighty-seven percent of S&P 500 companies have reported positive earnings per share surprises for the second calendar quarter, according to FactSet as of Friday. If 87% is the final percentage, it will mark the highest percentage of S&P 500 companies reporting positive EPS surprises since FactSet began tracking this metric in 2008. “These are the dog days of August, and low volume and directionless volatility are the order of the moment with 2Q21 earnings season mostly behind us,” Raymond James’ Tavis McCourt said in a note. Source: https://www.cnbc.com/2021/08/15/stock-futures-pull-back-after-the-dow-and-sp-500-set-records.html Have a successful week!  The post Dow drops more than 100 points to start the week on fears of slowing global growth appeared first on Trading Concepts, Inc.. |
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The stock market was mostly higher on Friday after setting another round of record highs despite a sharp drop in consumer sentiment. Specifically, the preliminary consumer sentiment index for August fell to 70.2, its lowest level in a decade, versus forecasts to match the final reading of 81.2 for July.
The news suggested that the Delta variant of the coronavirus was impacting consumers as most of the weakness was in the expectations gauge which dropped 13.8 points to 65.2 after falling to 79 in July. Despite the worries, volatility continued to fade and is once again approaching a key level of support.
The S&P 500 closed on its session and fresh all-time peak at 4,468 (+0.2%). Unchartered territory and key resistance at 4,475 was challenged but held. A close above this level would likely indicate ongoing strength towards 4,500-4,525.
 The Dow ended at 35,515 (+0.04%) after trading to an all-time high of 35,610. Key resistance at 35,500 was cleared and held. Continued closes above this level keeps upside momentum towards 35,750-36,000 in play.  The Nasdaq made an intraday run to 14,850 while settling at 14,822 (+0.04%). Key resistance at 14,900 held for the second-straight session. A close above this level and the record high at 14,896 from earlier this month would signal a trip towards 15,000-15,150.  The Russell 2000 was down for the second-straight session after tagging a late day low of 2,221 while finishing at 2,223 (-0.9%). Key support at 2,225 was breached and failed to hold. Continued closes below this level keeps a retest towards 2,200-2,175 in focus. Below is a chart of the IWM. 
ANALYST UPGRADES/DOWNGRADESActivision Blizzard (ATVI) upgraded to Buy from Neutral at Citi ContextLogic (WISH) downgraded to Perform from Outperform at Oppenheimer MONDAY'S EARNINGS ANNOUNCEMENTS After the close: Atlas Technical Consultants (ATCX), Danimer Scientific (DNMR), Eton Pharmaceuticals (ETON), Fabrinet (FN), Geron (GERN), Immersion (IMMR), Lightning eMotors (ZEV), Montauk Renewables (MNTK), Osmotica Pharmaceuticals (OSMT), Roblox (RBLX), Spark Networks (LOV), Telos (TLS), Vislink Technologies (VISL) MONDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Disney reported blowout fiscal third-quarter earnings after the bell Thursday, beating Wall Street expectations on subscriber growth, revenue and earnings. The company’s shares were up more than 5% in after hours trading.
The company beat on subscriber estimates for Disney+, coming in at 116 million. StreetAccount estimated the company to report 114.5 million subscribers for its third quarter. The segment had 103.6 million in its fiscal second quarter. Average monthly revenue per subscriber for Disney+ dipped 10% year over year to $4.16. The company attributed the drop to a higher mix of Disney+ Hotstar subscribers compared with the prior-year quarter. Disney’s average revenue per user has shrunk in recent quarters because of the lower price points for its Disney+ and Hotstar bundle in Indonesia and India. The service has lower average monthly revenue per paid subscriber than traditional Disney+ in other markets, pulling down the overall average for the quarter. Disney is also continuing to experiment with viewership habits and how it releases films following the coronavirus pandemic. The company will release “Shang-Chi” in theaters exclusively for 45 days before adding it to its streaming service. “The prospect of being able to take a Marvel title to the service after going theatrical with 45 days will be yet another data point to inform our actions going forward on our titles,” CEO Bob Chapek said during Thursday’s earnings call. Overall, the company said it had nearly 174 million subscriptions across Disney+, ESPN+ and Hulu at the end of its third quarter. Revenue for its direct-to-consumer segments increased 57% to $4.3 billion. Average monthly revenue per paid subscriber grew slightly for ESPN+ and Hulu. Disney said the company’s total addressable market is 1.1 billion households across the globe. EARN 58% & MORE Per Trade On Average
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“We’ve only just begun our journey and as I think you see what’s really going to make the difference for Disney is our spectacular content, told by the best storytellers, against our powerhouse franchises,” Chapek said. In an interview with CNBC’s Jim Cramer later Thursday on “Mad Money,” Chapek reaffirmed the company’s expectations of between 230 million to 260 million subscribers to Disney+ by 2024. “We’re very confident in our sub trajectory,” he said. The company had ramped up its spending in content over the past year. Now, Chapek said those films and shows are starting to trickle in. “Our confidence only continues to grow as that content permeates our services,” he added. Parks segment returns to profitabilityDisney’s Parks, Experiences and Products segment returned to profitability for the first time since the pandemic began, though the parks alone are not yet profitable. Revenue in the segment jumped 308% to $4.3 billion, as all of its parks were reopened during the fiscal third quarter and attendance and consumer spending rose. Operating income reached $356 million, compared with a loss of $1.87 billion during the same quarter last year. Much of this profitability is attributable to the segment’s consumer products business, which saw operating income reach $564 million. During the quarter, Disney garnered higher revenue from merchandise based on Mickey and Minnie, Star Wars, Disney princesses and Spider-Man. Disney’s domestic parks eased restrictions in April, which led to a boost in attendance. Domestic parks reported operating income of $2 million. International parks posted a loss of $210 million. Disney had reported a loss in operating income in the segment over each of the previous five quarters because of the Covid-19 pandemic. “We see strong demand for our parks continuing,” Chapek said on the call. In late July, rival Comcast, which owns and operates several Universal Studios theme parks in the U.S. and aboard, reported its parks turned a profit, marking the division’s first profitable period since the first quarter of 2020. The resurrection of the theme park industry is critical to Disney’s bottom line. In 2019, the segment, which includes cruises and hotels, accounted for 37% of the company’s $69.6 billion in total revenue. Content sales and licensing revenues decreased 23% to $1.7 billion in the quarter. At the same time, operating income decreased 58% to $132 million. Source: https://www.cnbc.com/2021/08/12/disney-dis-fiscal-q3-2021-earnings.html Have a wonderful weekend! The post Disney beats expectations across the board, with U.S. parks returning to profit appeared first on Trading Concepts, Inc.. |
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The stock market showed continued strength on Thursday despite underwhelming economic news with producer prices coming in hotter than expected. The PPI for July jumped 7.8%, a record high, while initial claims fell 12,000 to 375,000, matching expectations.
The action was slightly choppy with the major indexes trading on both sides of the ledger and the small-caps failing to keep pace into the closing bell. The slow grind higher remains a bullish signal over the near-term with volatility slipping for the second-straight session.
The Nasdaq snapped a two-session slide after testing a late day high of 14,824 while ending at 14,816 (+0.4%). Key resistance at 14,900 easily held. A close above this level and the recent lifetime top at 14,896 would indicate a breakout towards 15,000-15,150.
The S&P 500 hit a record high of 4,461 before finishing at 4,460 (+0.3%). Key resistance at 4,450 was cleared and held. Continued closes above this level would suggest additional momentum towards 4,475-4,500.
The Dow tagged an all-time peak of 35,510 while closing at 35,499 (+0.04%). Current and key resistance at 35,500 was cleared but held for the second-straight session. A close above this level would be a bullish signal for additional gains towards 35,750-36,000.
The Russell 2000 traded to a morning low of 2,232 while going out at 2,244 (-0.3%). Key support at 2,225 was challenged but held. A move below this level would signal another fade towards 2,200-2,175. Below is a chart of the IWM.
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ANALYST UPGRADES/DOWNGRADESExelon (EXC) upgraded to Neutral from Underperform at Mizuho Blink Charging (BLNK) downgraded to Neutral from Buy at Roth Capital FRIDAY'S EARNINGS ANNOUNCEMENTS After the close: Loral Space and Communications (LORL) FRIDAY'S ECONOMIC NEWS  METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE ROCK LOBSTER, AND UNCLE MIKE BREAK DOWN:
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