Is there such a thing as too much momentum in today’s market? Not according to one technician, who says stocks haven’t seen this much force since 1999. Jonathan Krinsky of MKM Partners compared the MSCI Momentum index, which tracks stocks with the best performance over the prior year, with the S&P 500. “The spread between […]
Read moreWalt Disney Co. is set to report its quarterly earnings on Thursday after the closing bell, and AdvisorShares portfolio manager Eddy Elfenbein will be watching the report closely. Here’s why. • CNBC reported on Monday that 21st Century Fox has been in talks to sell most of the company to Disney. “We don’t know if […]
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Oil prices surged to their highest levels since the summer of 2015 on Monday as a major political shakeup in Saudi Arabia underpinned a rally fueled by geopolitical risk, analysts said. Crude futures hit the new highs overnight after the powerful Saudi Crown Prince Mohammad bin Salman coordinated the arrest of several princes and ministers, […]
Read morePershing Square Capital’s Bill Ackman still has high hopes that Chipotle will rebound and become a big winner for his hedge-fund. “We’re going to work hard to help the company turn,” Ackman said on CNBC’s “Halftime Report” Monday. “This is an eminently fixable company … This is still a great concept.” The hedge fund manager […]
Read moreOil prices surged Monday, hitting the highest level in more than two years, and one market watcher says the political shake-up in Saudi Arabia over the weekend leads him to believe that the rally could just be getting started. Arrests made on Saturday in Saudi Arabia of prominent leaders, including billionaire investor Prince Alwaleed bin […]
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Macy’s is getting slammed, and one technician says the charts are pointing to even more pain ahead of earnings this week. It’s been a tough year for retailers — the retail ETF XRT has fallen nearly 10 percent, while the S&P 500 is up more than 15 percent in 2017. “Look at these numbers, it […]
Read moreOil prices are more likely to rise toward $70 a barrel than sink back to $50 in the wake of the biggest political shakeup in Saudi Arabia in decades, according Roberto Friedlander, head of energy trading at Seaport Global Securities. Crude futures rose to highs going back to mid-2015 overnight after Saudi Crown Prince Mohammad […]
Read moreThe value of the Knicks basketball franchise is surging, according to a top Wall Street firm. JPMorgan reaffirmed his overweight rating and raised its price target for Madison Square Garden shares to $260 from $245, citing a higher estimate for the Knicks worth. “We estimate MSG shares trade at ~40% discount to the private market […]
Read morePresident Donald Trumponce again claimed that he is responsible for the U.S. stock market’s yearlong rally. Onboard Air Force One, Trump told reporters that he’s the reason major equity indexes are trading at record highs. “The reason our stock market is so successful is because of me,” the president said. “I’ve always been great with […]
Read moreThe noise out of Washington regarding changes to the Affordable Care Act and health care seems to never end. Despite the lingering uncertainty, there are several longer-term industry trends worth highlighting. For advisors, it’s important to spot areas most likely affected by those trends and evaluate whether they represent potential growth opportunities for client portfolios. […]
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