Good MorningThe trading week got off to a shaky start on Monday when an early gain quickly turned sour. The major indices all began the session with gains but they were given up within the first half-hour of trading. At the low of the day, the S&P 500 was down by about 1.75%.
The reason for Monday’s decline is hope. Hope for another round of stimulus is fading fast leaving investors wondering what will happen now. With election uncertainty in the air and no vaccine for COVID-19 in sight, the only thing to be sure of is volatility.
The rest of the week hinges on earnings. This is the first full week of earnings for the 3rd quarter reporting cycle and the calendar is full with over 80 S&P 500 companies on the list. Names like Coca-Cola, AT&T, Netflix, and Tesla are sure to attract attention and may drive volatility if the results are not enough to satisfy a fragile market.
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Markets | | | Earnings season is always an exciting time for investors and active traders as it provides direct insight into how major companies are doing and where they could be going in the future. While trading a binary event like earnings is extremely difficult, we do often see sharp rallies into the releases... Read the Full Story |
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Markets | | | Sorrento Therapeutics (NASDAQ:SRNE) emerged as an early contender in the fight against COVID-19 and fast cementing its position. The company has multiple vaccine and therapy candidate trials in the works and stands to profit from at least one of them. Read the Full Story |
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Markets | | | Finland-based Telecom Giant Nokia Corporation (NYSE: NOK) shares have been stagnant and underperforming the benchmark S&P 500 index (NYSEARCA: SPY) trading under its February highs. The 5G rollout is underway thanks to Apple Inc. (NASDAQ: AAPL) introduction of their new iPhone 12 outfitted... Read the Full Story |
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Markets | | | Lennox International Rebounds In The 3rd Quarter
Lennox International (NYSE:LII) was not immune to the pandemic. The company saw a 14% decline in YOY revenue last quarter but the bad times are already over. Like so many others, Lennox has proven capable of weathering the storm, and that is well-pos... Read the Full Story |
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Markets | | | Chipotle (NYSE: CMG) is set to report its Q3 earnings on Wednesday. Wall Street is expecting comps to grow 7.2%; based on what we know, I think that’s too conservative.
Granted, that alone doesn’t mean to run and buy Chipotle shares as fast as you’d, well, run and buy a Chipo... Read the Full Story |
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The Early Bird Stock Of The Day Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead. It operates the Toquepala and Cuajone open-pit mines, and a smelter and refinery in Peru; and La Caridad, an open-pit copper mine, as well as a copper ore concentrator, a SX-EW plant, a smelter, refinery, and a rod plant in Mexico. The company also operates Buenavista, an open-pit copper mine, as well as two copper concentrators and two operating SX-EW plants in Mexico. In addition, it operates underground mines that produce zinc, lead, copper, silver, and gold; a coal mine; and a zinc refinery. The company has interests in 156,818 hectares and 502,688 hectares of concessions in Peru and Mexico; and 168,200 hectares and 28,453 hectares of exploration concessions in Argentina and Chile. Southern Copper Corporation was incorporated in 1952 and is based in Phoenix, Arizona. Southern Copper Corporation is a subsidiary of Americas Mining Corporation. | | View Today's Stock Pick |
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