Good MorningThe stock markets got a jolt on Monday as the number of new cases of COVID hit a new all-time high in the U.S. The spike in cases is not unexpected but heightens fear of an exponential spread of the virus. All the major indices shed at least 2.0% intraday but some of the losses were regained before the close of the session.
In technical terms, Monday’s price action is not good. The S&P 500 fell below its short-term 30-day moving average where bearish traders may take control. If the index cannot regain the upper side of the average quickly a much deeper correction could be coming.
Looking at the so-called “fear index”, the VIX gained more than 20% intraday and set a two month high. The move in the VIX was strong and looks like it will move higher so traders and investors should be ready for increased volatility if not lower prices for the S&P 500. Featured: Small Biotech Firm Stuns World (BehindtheMarkets) 
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Earnings season is in full swing and so far the results are good. Unfortunately for investors the election season is also reaching its fever peak. The market doesn’t particularly care who wins the election. However, the sooner we have a result, the better. In the meantime, the market continu... Read the Full Story |
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Markets | | | Even with the year equity markets have given us already, there’s still plenty of time for some last-minute additions to your portfolio to help see out 2020. Tech has by far and away been the headline grabber but after this summer’s run, you’d be forgiven for being slow to buy into ... Read the Full Story |
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Markets | | | PetMed Express (NASDAQ:PETS), like its larger competitor Chewy, Inc (NYSE:CHWY), is well-positioned for the pandemic. As a 100% eCommerce play on pet care it is riding not one but three waves of growth Read the Full Story |
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Markets | | | Hasbro Moves Lower After Market-Beating Report
Shares of Hasbro (NASDAQ:HAS) began to move higher on Friday after its competitor Mattel (NASDAQ:MAT) surprised the market. According to Mattel, there is strong COVID-inspired demand for toys and at-home entertainmentthat should carry through the holid... Read the Full Story |
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Markets | | | Boston Beer (NYSE: SAM) reported its Q3 2020 earnings on Thursday after the bell, and investors cheered the results, sending shares up more than 18% in Friday’s session. This marks the second consecutive post-earnings surge for Boston Beer, which saw its shares pop more than 26% after the Q2 r... Read the Full Story |
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The Early Bird Stock Of The Day PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources. The TNMP segment provides regulated transmission and distribution services. The segment also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves residential, commercial, and industrial customers and end-users of electricity in New Mexico and Texas. PNM Resources, Inc. was founded in 1882 and is based in Albuquerque, New Mexico. | | View Today's Stock Pick |
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