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 The U.S. Federal Reserve announced on Thursday how much each large bank that underwent the most recent stress test will have to hold on their books as capital cushions. The capital requirements for each of the 34 banks are based on how well each firm performed in the June test, and will take effect on Oct. 1. Goldman Sachs and Morgan Stanley were directed to hold the largest amount of capital to guard against losses, facing ratios of 13.4% and 13.2%, respectively. The ratios are part of the new "stress capital buffer" regime established by the Fed, which allows the central bank to set custom capital requirements for each bank, depending on how severely each firm faced losses under the annual stress test. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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 The June results found that even in a severe downturn, banks would have more than enough capital to stay above regulatory minimums - a finding that led the Fed to lift restrictions on stock buybacks and dividend payouts that had been put in place at the beginning of the coronavirus pandemic. The new capital requirement combines the 4.5% minimum capital ratio for all large banks with a custom stress capital buffer. HSBC's North American operation faced the largest such requirement, with the Fed ordering a 7.5% buffer. The nation's largest firms also face a G-SIB surcharge of at least 1%, which scales up to 3.5% for JPMorgan Chase & Co, the nation's largest bank. Source: https://finance.yahoo.com/news/federal-announces-capital-ratios-large-203201548.html I hope today’s article has been helpful, be sure to let me know what you think.  The post Federal Reserve announces new capital ratios for large banks following stress test appeared first on Trading Concepts, Inc.. |
 HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE GREASY MEATBALL, AND UNCLE MIKE BREAK DOWN:
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The stock market was mostly lower on Wednesday following a slowdown in job growth last month while mixed earnings also weighed on sentiment. ADP reported private payrolls were up only 330,00 in July, missing expectations for a gain of 500,000. Meanwhile, the 692,000 rise in June was lowered to 680,000.
On the earnings front, General Motors (GM) fell nearly 9%, highlighting the uncertainty facing global automakers due to the supply chain disruption. Surprisingly, volatility was nearly unchanged after trading in a tighter range while holding key resistance levels.
The Nasdaq tested an intraday high of 14,812 before settling at 14,780 (+0.1%). Key resistance at 14,850 was challenged but held. A close above this level and the recent record high at 14,863 would indicate strength towards 15,000-15,150.
The Russell 2000 finished at 2,196 (-1.2%) with the low reaching 2,195 ahead of the closing bell. Upper support at 2,200-2,175 failed to hold. A move below the latter would suggest a retest towards 2,150-2,125 with the July low at 2,107. Below is a chart of the IWM.
The Dow traded to a late day low of 34,790 before ending at 34,792 (-0.9%). Current and upper support at 35,000-34,750 failed to hold. A drop below the latter would suggest a retest towards 34,500-34,250 and the 50-day moving average.
The S&P 500 tapped a low of 4,400 before finishing at 4,402 (-0.5%). Near-term and upper support at 4,400-4,375 was kissed but held. A fade below the latter would likely lead to additional weakness towards 4,350-4,325.
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ANALYST UPGRADES/DOWNGRADESBJ's Restaurants (BJRI) upgraded to Buy from Hold at Deutsche Bank American Water (AWK) downgraded to Neutral from Buy at Janney Montgomery Scott   THURSDAY'S EARNINGS ANNOUNCEMENTS After the close: Alleghany (Y), Beyond Meat (BYND), CarGurus (CARG), Dropbox (DBX), Expedia (EXPE), FireEye (FEYE), Golden Entertainment (GDEN), Groupon (GRPN), Health Catalyst (HCAT), Illumina (ILMN), j2 Global Communications (JCOM), Kaman (KAMN), Livent (LTHM), Monster Beverage (MNST), Nektar Therapeutics (NKTR), Novavax (NVSX), Outfront Media (OUT), Plug Power (PLUG), Quidel (QDEL), ResMed (RMD), Shake Shack (SHAK), Switch (SWCH), TimkenSteel (TMST), United States Cellular (USM), ViewRay (VRAY), Virgin Galactic (SPCE), Yelp (YELP), Zillow (Z) THURSDAY'S ECONOMIC NEWS    METALS/ OIL   Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Shares of AMD are now at $113, and still show no signs of slowing. In its most recent quarter, the company posted Q2 revenues of $3.85 billion, which came in above expectations for $3.62 billion. Cash on hand is up to $3.79 billion. “Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said AMD president and CEO Lisa Su, as quoted by TheFly.com. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60 percent year-over-year driven by strong execution and increased customer preference for our leadership products.”
Helping, a good deal of analysts raised their target prices. Citi raised its target to $100 from $95. Mizuho raised its target to $110 from $107. BMO Capital raised its target to $80 from $75. Benchmark raised its target to $110 from $100. This is just one of the opportunities we find quite often inside Extreme Option Profits.
 The post Extreme Option Profits Chart of Day… Advanced Micro Devices (AMD) appeared first on Trading Concepts, Inc.. |
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Shares of Robinhood soared Tuesday, pushing the newly public stock trading app well above its IPO price of $38 per share last week.Robinhood went public last Thursday on the Nasdaq under the ticker HOOD, hitting the public markets it seeks to democratize. The stock priced at $38 per share, the low end of its offering range. It opened at that price on Thursday but then fell 8% on its first day and had largely traded below that price, until Tuesday.Robinhood’s stock closed at $46.80 per share, up 24.2% on Tuesday. The Menlo Park, California-based company appears to be garnering attention from retail investors on Tuesday, after giving roughly 25% of its IPO shares to its own clients. HOOD is a “top traded stock” on Fidelity, which is generally a good proxy for individual investor interest on a given day. There have been 8,988 buy orders and 7,931 sell order of Robinhood on Fidelity on Tuesday. The ticker also appears as a top mentioned stock on Reddit’s WallStreetBets, according to Swaggy Stocks, which aggregates the posts. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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Although we have come to expect 40% surges on the first day of trading, Robinhood talked to a wider swath of investors, including significant retail to push the boundaries on pricing,” Greg Martin of Rainmaker Securities said. “I believe now, the long-term investors who see the incredible long-term value of Robinhood are moving the stock, as the short-term investors have largely fled the stock.” Bulls love Robinhood for its massive growth, especially during the coronavirus pandemic and GameStop trading mania. Robinhood — which offers equity, cryptocurrency and options trading, as well as cash management accounts — had 18 million clients as of March 2021, up from 7.2 million in 2020, an increase of 151%. The company estimates funded accounts reached 22.5 million in the second quarter. “As Robinhood branches out into other forms of finance, including ‘buy now, pay later’ cards, I think [CEO Vlad Tenev’s] army of 22 million users will grow and become more powerful,” CNBC’s Jim Cramer said on “Mad Money” Monday night. “That’s why I’m telling you that Robinhood can be bought here,” Cramer added. He also said Robinhood could acquire another fintech company in order to expand more into the payments space, which could boost the stock even further. Ahead of the IPO, Atlantic Equities gave Robinhood an overweight rating and $65 per share 12-month price target. Most of Wall Street is still deliberating its rating on the stock because of mandated quiet periods on research from underwriters on the deal. “We believe this superior user growth will continue given the success of the referral program and the product appeal among its target demographic,” said Atlantic Equities analyst John Heagerty. “We also see opportunity to build out the product portfolio to drive faster revenue growth.” Robinhood has also been getting a vote of confidence from Ark Invest’s Cathie Wood since the debut. Wood purchased about 1.85 million shares of Robinhood on Friday, adding to the 1.3 million shares she bought Thursday. Wood’s total position is worth roughly $147.5 million, based on Robinhood’s current price. “Nothing would be better than for [Robinhood] to be priced perfectly and stay the same price for a couple of months,” early Robinhood investor Jason Calacanis told CNBC last Thursday. “Any retail investors that might be new to the game, it would be a great lesson for them to buy and hold things for a long time. That is really where the great wins comes from.” Source: https://www.cnbc.com/2021/08/03/robinhood-surges-10percent-runs-past-38-ipo-price.html Have a fantastic day and I hope today’s article helps.  The post Robinhood surges more than 24%, blows past $38 IPO price appeared first on Trading Concepts, Inc.. |
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The stock market shrugged off a choppy open to end higher on Tuesday as strong earnings and better-than-expected economic news helped sentiment. Eli Lilly (LLY), Bausch Health (BHC) and Under Armour (UAA) reported strong numbers while factory orders rose 1.5% in June versus forecasts for an increase of 1%. The Dow tested an intraday high of 35,120 before settling at 35,116 (+0.8%). Lower resistance at 35,000-35,150 was recovered. A close above the latter and Monday’s all-time high at 35,192 would suggest a breakout towards 35,250-35,500. The S&P 500 ended at 4,423 (+0.8%) and the session peak. Near-term and lower resistance at 4,400-4,425 was cleared and held. A move above the latter and the recent record peak at 4,429 would indicate additional strength towards 4,450-4,475. The Nasdaq closed at 14,761 (+0.6%) after trading to a late day high of 14,762. Current and lower resistance at 14,700-14,850 was recovered. A close above the latter and last Monday’s lifetime high at 14,863 would be a bullish signal for a trip towards 15,000-15,150. The Russell 2000 went out at 2,223 (+0.4%) and the session high. Lower resistance at 2,225-2,250 was challenged but held. A pop above the latter and the 50-day moving average would signal ongoing strength towards 2,275-2,300. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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ANALYST UPGRADES/DOWNGRADESCable One (CABO) upgraded to Neutral from Underweight at JPMorgan WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: Alkami Technology (ALKT), Boot Barn Holdings (BOOT), Chesapeake Utilities (CPK), Dynavax Technologies (DVAX), Electronic Arts (EA), Fox (FOXA), Globus Medical (GMED), Hostess Brands (TWNK), ICU Medical (ICUI), Jack in the Box (JACK), Kronos Worldwide (KRO), Lemonade (LMND), Marathon Oil (MRO), Nu Skin Enterprises (NUS), Ormat Technologies (ORA), PetIQ (PETQ), Qorvo (QRVO), Rapid7 (RPD), Sarepta Therapeutics (SRPT), Trimble (TRMB), Uber Technologies (UBER), Valvoline (VVV), Western Union (WU), Wynn Resorts (WYNN) 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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Keep an eye on Cassava Sciences (SAVA) this week. The stock could see higher highs, as we near its presentation at the 2021 Alzheimer’s Association International Conference today. The presentations will include “Cassava Sciences’ investigational product candidates include simufilam, a drug treatment for Alzheimer’s disease, and SavaDx, a biomarker/diagnostic to detect Alzheimer’s disease with a simple blood test,” as noted in a company press release. As also noted in a company press release: Today, around 10 am ET, scientists for Cassava Sciences will show a poster presentation at AAIC, titled “SavaDx, a Novel Plasma Biomarker to Detect Alzheimer’s Disease, Confirms Mechanism of Action of Simufilam”.
On Thursday, July 29th, at approximately 11 am ET, simufilam will be featured in a live podium presentation at AAIC, including a brief Q&A session. This oral presentation will announce results of an interim analysis on safety and cognition for the first 50 patients with Alzheimer’s disease to complete 9 months of open-label treatment. Scientists for Cassava Sciences will also present biomarker data analyzed from cerebrospinal fluid (CSF) collected from 25 study subjects at baseline and again after completing 6 months of open-label drug treatment. This is just one of the opportunities we find quite often inside Extreme Option Profits.
The post Extreme Option Profits Chart of Day… Cassava Sciences (SAVA) appeared first on Trading Concepts, Inc.. |
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The stock market was mostly lower on Monday and the first trading session for August following slightly weaker-than-expected economic news. Specifically, the ISM manufacturing index dropped -1.1 points to 59.5 in July versus forecasts for a print of 60.8 while construction spending edged up just 0.1% in June.
The pullback still kept the major indexes near-the top of their recent trading ranges with the blue-chips setting a new record high. Meanwhile, volatility eased higher following the choppy session but held a key level of resistance.
The Nasdaq was the only index that showed strength after reaching a peak of 14,770 before ending at 14,681 (+0.1%). Current and lower resistance at 14,700-14,850 was cleared but held. A close above the latter and last Monday’s all-time high at 14,863 gets a push towards 15,000-15,150 back in focus.
The Russell 2000 closed at 2,215 (-0.5%) with the late day low hitting 2,212. Near-term and upper support at 2,225-2,200 failed to hold. A move below the latter would suggest a retest towards 2,150-2,125.
The Dow finished at 34,838 (-0.3%) despite tapping a lifetime high of 35,192. Key resistance at 35,150 was tripped but held. Continued closes above this level would indicate additional strength towards 35,250-35,500.
The S&P 500 settled at 4,387 (-0.2%) with the afternoon low kissing 4,384. Upper support at 4,375-4,350 was challenged but held. A close below the latter would signal a further fade towards 4,325-4,300 and the 50-day moving average.
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ANALYST UPGRADES/DOWNGRADESAvantor (AVTR) upgraded to Overweight from Neutral at Piper Sandler TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Activision Blizzard (ATVI), Amgen (AMGN), Big 5 Sporting Goods (BGFV), Container Store Group (TCS), Denny's (DENN), Franchise Group (FRG), Green Dot (GDOT), Herbalife Nutrition (HLF), Innospec (IOSP), Jazz Pharmaceuticals (JAZZ), Kforce (KFRC), Lattice Semiconductor (LSCC), Match Group (MTCH), Noodles & Company (NDLS), OraSure Technologies (OSUR), Paycom Software (PAYC), Public Storage (PSA), Radian Group (RDN), SkyWater Technology (SKYT), Tanger Factory Outlet (SKT), TTEC Holdings (TTEC), Veeco Instruments (VECO), W&T Offshore (WTI), Xperi (XPER) 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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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE GREASY MEATBALL, AND UNCLE MIKE BREAK DOWN:
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One S&P 500 sector has quietly broken out in recent days. The materials sector, which holds stocks such as Linde and Sherwin-Williams, ended last week up nearly 3% in the top performance on the benchmark index. The group also closed out its ninth straight day of gains, its best daily win streak since June 2020. Steve Chiavarone, portfolio manager at Federated Hermes, sees several tailwinds that should carry the group even higher. “We think it’s really kind of four stories – infrastructure, earnings, the sensitivity to inflation and then the fourth is they’re cyclical and that’s why we went overweight the sector last August,” Chiavarone told CNBC’s “Trading Nation” on Friday. He said progress with the infrastructure bill in Congress certainly was a positive development for the materials sector – that White House-backed and bipartisan proposal advanced in the Senate and proposes roughly $550 million in new federal spending. And, on inflation, Chiavarone says the materials sector is more easily able to pass on price increases to customers given their position at the beginning of the supply chain. Exploit a Step-by-Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
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Nearly half of the XLB industrials ETF is set to report earnings in the coming week – some of those companies include Eastman Chemical, Mosaic and Vulcan Materials. The sector is expected to post 114% earnings growth in its second quarter, according to S&P Global estimates. “We remain overweight the sector. We think this is a really good place to be in the market,” said Chiavarone. Craig Johnson, chief market technician at Piper Sandler, says the charts support more upside for materials, too. “We are just in the process of closing above this kind of $83 level. If we close back above this 50-day moving average, we could see a move all the way back up to $89,” Johnson said during the same interview. “Steel stocks are making new highs, you’re seeing the aluminum companies very strong, there’s a lot of things inside of this XLB that look quite strong.”  The XLB ETF closed Friday just above $84. A move to $89 implies 6% upside. “Then we also need to keep into consideration what the dollar is doing. There’s been a negative correlation between the XLB and the dollar, and if the dollar continues to weaken that’s only going to further underpin the strength of what we’re going to see in the XLB,” said Johnson.  The U.S. dollar index has fallen slightly over the past month as the XLB ETF has risen 2%. Source: https://www.cnbc.com/2021/08/01/stock-market-today-materials-sector-leads-sp-500-this-week.html Have a successful week! The post One leading S&P 500 sector just posted its best win streak in more than a year appeared first on Trading Concepts, Inc.. |
