Good morning traders and investors of the r/StockMarket sub! Welcome to Thursday. Here is your pre-market movers & news this AM-
- U.S. stock futures gave up overnight gains and pointed to losses for the Dow at Thursday’s open. The Senate late Wednesday unanimously approved a historic $2 trillion coronavirus economic relief package, but 1 million to 4 million Americans are expected to have filed for unemployment benefits last week. The weekly jobless claims report is issued at 8:30 a.m. ET. (CNBC)
- Fed Chairman Powell: ‘We’re not going to run out of ammunition’ to support the economy (CNBC)
- Ex-Trump advisor Gary Cohn: Lawmakers should ‘throw as much money as you can’ at crisis (CNBC)
- The Dow on Wednesday gained over 2%, with Boeing’s 24% pop and Nike’s 9% gain adding strength. Tuesday’s 11% advance for the Dow was the best session since 1933. The two-day advance was the Dow’s first back-to-back gains this month. However, heading into Thursday, the > * Dow was still more than 28% below its February record high.
- Cramer: Wall Street ‘has faith’ in stimulus plan, but ‘total lockdown’ still needed (CNBC)”
- Ariel’s John Rogers: This is a ‘once in a lifetime’ buying opportunity like ’87 and ’08 (CNBC)
- Hedge fund titans Simons, Griffin, Cohen and Tepper earned $1 billion in 2019 before virus outbreak (CNBC)
- The Democratic-controlled House is scheduled to take up the Senate coronavirus relief bill Friday morning. The GOP-controlled Senate unanimously passed the bill, 96-0, a product of days of negotiations with Democrats and the White House. The package includes direct payments to individuals, grants and loans to businesses and more health-care funding. (CNBC)
- U.S. coronavirus cases increased to over 69,100 with deaths surpassing 1,000, according to Johns Hopkins University. New York’s 33,000 cases are the most of any state by far. New York has seen 366 deaths, nearly triple Washington state’s 133 fatalities.
- White House health advisor Fauci says US needs to be prepared for second cycle (CNBC)
- Mark Cuban warns against rushing back to work, says crisis could define brands ‘for decades’ (CNBC)
- President Donald Trump faces a critical test to assert America’s leadership in the global coronavirus fight at Thursday’s emergency G-20 meeting being held remotely. The U.S. and China have been trading insults, with Trump calling the outbreak the “Chinese virus” and China suggesting the U.S. military brought the virus there. (CNBC)
- Italy, which has had the most fatalities of any country, has seen its death toll top 7,500, more than double China’s 3,291 fatalities. Italy’s total cases of more than 74,300 are approaching the world’s infection leader China, which has 81,700 cases. The U.S. has the third most cases. (CNBC)
- Spain, with over 49,500 case, saw its death toll of 3,647 exceed that of China as well. Many European countries are closely following Italy’s coronavirus data to forecast what trajectory their own national outbreaks could take. Global coronavirus cases rose to over 480,000 with 21,570 deaths and more than 115,000 recoveries. (CNBC)
- Apple (AAPL) is considering delaying the launch of its next iPhone by months, according to a report in the Nikkei Asian Review. That comes amid supply chain disruptions and falling customer demand due to the virus outbreak. Apple has released a new iPhone in September or October in each year since 2011.
- McDonald’s (MCD) is pulling its all-day breakfast menu to simplify operations as the coronavirus strains restaurant operations. “We will regularly evaluate the situation and look to move back to our regular menu as soon as possible,” according to a statement. The launch of the all-day breakfast menu in 2015 helped fuel McDonald’s turnaround. (CNBC)
- Rich Williams has stepped down as Groupon (GRPN) CEO and Steve Kenzer has stepped down as COO. Both moves are effective immediately, although the daily deals provider said both remain at Groupon. The company did not comment on the reason for the changes. (Seeking Alpha)
STOCK FUTURES CURRENTLY:
YESTERDAY'S MARKET MAP:
TODAY'S MARKET MAP:
YESTERDAY'S S&P SECTORS:
TODAY'S S&P SECTORS:
TODAY'S ECONOMIC CALENDAR:
THIS WEEK'S ECONOMIC CALENDAR:
THIS WEEK'S UPCOMING IPO'S:
THIS WEEK'S EARNINGS CALENDAR:
($MU $LULU $NKE $PAYS $SIG $PAYX $GME $ONTX $CSIQ $JT $INFO $GO $WGO $LX $SCVL $SNX $HOME $BWAY $AEYE $KBH $RKDA $FDS $ERJ $PRGS $OPGN $SCS $NEOG $PUMP $HYRE $AIR $MYOS $LIQT $SAIC $SCWX $ESLT $VTSI $OCGN $QIWI $WOR $TNP $HTHT)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($SIG $CSIQ $FDS $ERJ $LIQT $WOR $TITN $BITA $CLSN $VIOT $MOV $CHRA $UFAB)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
EARNINGS RELEASES AFTER THE CLOSE TODAY:
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
YESTERDAY'S INSIDER TRADING FILINGS:
TODAY'S DIVIDEND CALENDAR:
THIS MORNING'S MOST ACTIVE TRENDING TICKERS:
THIS MORNING'S STOCK NEWS MOVERS:
UnitedHealth (UNH) – The health-services company is introducing a coronavirus test that patients can self-administer, which could reduce the risk to health-care workers. The test calls for patients to swab their noses, drop the swab into test tubes, and hand the tubes back to the health-care workers.
STOCK SYMBOL: UNH
FactSet (FDS) – The financial-information services provider beat estimates by 6 cents a share, with quarterly earnings of $2.55 per share. Revenue came in very slightly below forecasts. FactSet also said it would not update any financial guidance until its next quarterly results.
STOCK SYMBOL: FDS
Signet Jewelers (SIG) – The jewelry retailer reported quarterly earnings of $3.67 per share, 20 cents a share above estimates. Revenue beat forecasts as well. Comparable-store sales were up 2.3%, more than double the Refinitiv consensus estimate of a 1.1% increase. Signet also suspended its dividend, and would not be providing fiscal 2021 financial guidance at this time due to the potential impact of the coronavirus.
STOCK SYMBOL: SIG
Micron Technology (MU) – Micron reported quarterly earnings of 45 cents per share, 8 cents a share above estimates. Revenue was above Wall Street forecasts as well. The chipmaker also gave a better-than-expected financial forecast as it benefits from the shift to home-based work due to the coronavirus outbreak.
STOCK SYMBOL: MU
Embraer (ERJ) – The Brazilian jet maker reported a quarterly loss of 51 cents per share, compared to a consensus estimate of a 2 cents per share loss. Revenue was in line with forecasts. Embraer also suspended its 2020 guidance, pointing to uncertainty related to the coronavirus outbreak.
STOCK SYMBOL: ERJ
McDonald’s (MCD) – McDonald’s is trimming its menu as long as the coronavirus pandemic persists, in order to deal with both falling customer traffic and staffing issues. The restaurant chain said the move is an attempt to simplify its operations.
STOCK SYMBOL: MCD
Groupon (GRPN) – Groupon CEO Rich Williams has stepped down from that position, with Chief Operating Officer Steve Krenzer also leaving that job. Both moves are effective immediately, although the daily deals provider said both remain employed by the company. Groupon did not comment on the reason for the changes.
STOCK SYMBOL: GRPN
Apple (AAPL) – Apple is considering delaying the launch of its next iPhone by months, according to a report in the Nikkei Asian Review. That comes amid supply chain disruptions and falling customer demand due to the virus outbreak. Apple has released a new iPhone in September or October in each year since 2011.
STOCK SYMBOL: AAPL
Ford Motor (F) – Ford’s credit rating was cut by S&P to BB+ from BBB-, pushing the rating into junk territory. The rating agency said the automaker’s credit metrics were already borderline prior to the coronavirus outbreak. Separately, Ford said it was aiming to restart production at some of its North American plants as early as April 6.
STOCK SYMBOL: F
AT&T (T), ViacomCBS (VIAC) – AT&T and ViacomCBS are seeing their attempts to sell $5 billion in assets slowed by the coronavirus outbreak, according to a Bloomberg report. AT&T is planning to sell its regional sports networks, while Viacom had been set to start the process of selling its Simon & Schuster publishing division.
STOCK SYMBOL: T
AMC Entertainment (AMC) – AMC furloughed more than 600 employees, as the nation’s biggest movie theater chain is forced to close cinemas across the country due to the coronavirus outbreak.
STOCK SYMBOL: AMC
Cheesecake Factory (CAKE) – Cheesecake Factory has told landlords it won’t be able to pay rent on April 1, according to a report in industry publication Eater. CEO David Overton reportedly asked the landlords for patience and help, as the virus outbreak cuts the restaurant chain’s cash flow.
STOCK SYMBOL: CAKE
Beyond Meat (BYND) – Beyond Meat was downgraded to “sell” from “neutral” at Goldman Sachs, as foodservice traffic declines as a result of COVID-19. Goldman also cut its price target for the plant-based food maker’s stock to $39 per share from $129.
STOCK SYMBOL: BYND
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. /u/bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
What's on everyone's radar for today's trading day ahead here at r/StockMarket?
I hope you all have an excellent trading day ahead today on this Thursday, March 26th, 2020! 🙂
How to Grow A Small Trading Account📈
Wrote a lil blog with some tips to help grow a small trading account! Here it is:
Almost every trader that is brand new to the market starts off by trading a small account, as they should. After all, why dive into the high-risk world of day trading with all of your hard-earned life savings at risk? It's best to start small and slowly grow your account, or even add more to your account in the future when you're more confident in your trading. However, most people dream of starting a small account of a few hundred or a few thousand dollars and growing it one trade at a time, which is obviously easier said than done. In this post I'll be sharing some tips and tricks that can help you grow a small trading account. Most of these I even used myself when I first got trading and I believe they played a big role in helping me grow my account.
Before getting to the good stuff, you may be wondering why it's actually more difficult to trade a small account than a large account. The main reason for this is because of the Pattern Day Trader (PDT)Rule. The PDT rule limits U.S. based traders with less than $25,000 in their trading account to only 3 day trades per 5 business days. Further limitations are placed on accounts that break the PDT rule by placing 4 or more day trades within a 5 business day period.
The PDT rule was put into place by the SEC with the hopes that it would protect new traders from trading too frequently and quickly losing their money. In reality, a lot of time what it actually does is forces traders to hold risky positions overnight that they would rather exit the same day, due to them not having anymore day trades available.
There are a few ways that new traders can, in a way, get around the PDT rule to be able to place more day trades. First, they can look into opening an offshore trading account. Now, I know it sounds a bit sketchy… but opening an account with a reputable brokerage based outside of the U.S. is a legitimate way to get around the PDT rule. The reason this works is because the PDT rule is for U.S. traders and if your money is in an account outside of the U.S, you're free to trade as much as you'd like!
Another way to increase your number of day trades, without opening an offshore account, is to have multiple brokerage accounts. For example, if you have $2,000 to start trading, you could open 2 separate brokerage accounts with $1,000 in each and will then have 6 total day trades per 5 business days (3 with each account). If you're starting with a larger amount of money, but still under the $25,000 PDT minimum, you can even open more than 2 trading account if you'd like and will have 3 day trades in each one!
One issue you may run into using this method is that you can only have one margin account per brokerage. Margin accounts are required if you're someone that short sells or plans on doing some short-selling. Because of this, you should have separate accounts with entirely different brokerages. For example, one account with Etrade and one with TD Ameritrade.
Aside from the broker that you're using to do your trading, there are of course actual trading techniques and strategies that you can do with you small account that will give you better chances of growing over the $25,000 PDT minimum too. One of those strategies is to simply learn swing trading. You'll still be able to use your 3 day trades per 5 business days, but if you really want to put your money to work while your account is under the PDT rule, being able to profitably swing trade is an incredible way to grow your small trading account.
A swing trade is just a position held anywhere from a few days to a few weeks. This is different from day trading, which is when you exit your position the same day that it was opened. The nice thing about swing trading is that there are no limitations on how many swing trades you can place, even with a small account. One great way to swing trade is to follow stocks that already have momentum. By doing this, you're following the stock's trend rather than trying to fight it! "Follow the trend. The trend is your friend." – Jesse Livermore
You can use a screener like the one here on finviz.com to find stocks that already have some upward momentum. To do this you may include "Performance +10%" over the past week while screening. This will give you a list of that have gone up at least 10% in the past week. Of course, you'll want to narrow it down further but this is a good way to at least start searching for some stock with some upward momentum that you may be able to get in on.
The next tip for growing a small trading account is one that should be used regardless of the trading type that you're doing, whether it's day trading or swing trading. Risk proportionally to your account size. This means that, for example, if you would be risking $250 to $500 with a $25,000 account… you should only be risking $25 to $50 with a $2,500 account. It's important to know your max risk before entering a trade and using the proper position size based on your risk.
Doing this will help you prevent any major losses and save you from blowing your entire trading account with just one bad trade!
Hopefully instead of having to worry about blowing your trading account, you'll have to worry about my next tip. Don't remove your profits from your trading account. When you first start making some money it can be very tempting to move those profits straight into you bank account, but you'll never grow your trading account this way. In my opinion, you should maybe give yourself some milestone payments along the way, but keep a majority of your profits in your account until it's grown to your goal account size. By "milestone payments," I mean maybe withdraw some profits once you grow your account to $10,000 or $15,000, rather than randomly after you've made any profits at all.
Hope you found this helpful!
Official r/StockMarket Discord Live Chat, link on the right –>
This is another re-post to the thread that I had up a few months back. Thought it was time for a new one.
If you are looking to hang out with a group of active traders & investors discussing the stock market, feel free to drop in on our official Discord server. It's completely free, and signing up to join is incredibly easy.
To get to our Discord server, click on the invite link which I have linked for you all down below here-
Registering your user handle should take no more than a couple of minutes. You'll just need a valid e-mail address to verify your Discord account and that is really pretty much it, you'll be connected and ready to chat with all the rest of us!
You can either run Discord through your web browser, or you can download the Discord application to have it running in the background of your PC. There are also mobile apps that you can use, for example here's the one for the iOS device.
Our Discord server comes complete with stock bots as well.
For those of you who are be completely new to Discord and are wondering… "bots!?"
Yes, we have bots that can automatically posts charts and other useful market information in the chat on executing commands.
Almost all of the bots that you'll see on our server have been scripted from scratch from yours truly, and have them hosted right from my local server at home.
Anyway, unlike our last thread I did up, I won't post the full list of bot commands to this thread as it is quite extensive. I've posted the full list of commands right into our Discord server under the channel named #bot_commands which you can find on the left sidebar of the chat at the top underneath the WELCOME channel group.
You can also have the bot DM (direct message) you the full list by typing !help into any of the channels as well.
Again, if you are looking for our official invite link to our server here it is:
The link can also be found on the sidebar right here on r/StockMarket.
I hope all of you who participate in the everyday discussions on this subreddit, will be able to join us in our live chat as well. There are lots of great discussions going on in there daily!
Finally, don't forget to pay a visit to the #rules_guidelines channel.
Anyway, I'll leave it at that for now.
Hope to see you guys on the chat very soon!
TFSA Investors: Turn $10,000 Into Over $400K in 22 Years
It’s looks like the worst might be over. Tax-Free Savings Account (TFSA) investors may actually be able to take a sigh of relief, as their stocks finally start turning in the positive direction after well over a year of falls.
It all started back in December 2017, when the oil and gas glut in Canada started to affect the markets. From there, the cannabis industry went from boom to bust after legalization in October 2018. Then after months of dips with analysts expecting the worst at any moment, the crash finally came.
TFSAs crash everywhere
The coupling of Saudi Arabia and Russia stating they would be keeping up oil production with the coronavirus outbreak has destroyed the markets. The S&P/TSX Composite fell 40% from peak to trough in less than a month. Yet since then, stocks have come back up, albeit quite slowly.
So, that leaves little time for investors to take advantage of the market while it’s still down. While almost all stocks are still down in the dumps, there are a few winners that won’t stay there for long. In fact, there are even some that shouldn’t have fallen in the first place. These are the ones TFSA investors should be keeping their eyes squarely on.
If there’s one winner out there that I would consider as an investor, it would be Nutrien (TSX:NTR)(NYSE:NTR). This stock fell about 46% from January to March and has since started the climb back up. As of writing, the stock has grown 47% since bottoming out.
As a TFSA investor, Nutrien is a solid opportunity to make serious cash. The company is the world’s largest producer of crop nutrients. The company produces and distributes potash, nitrogen, and phosphate products around the world, products that will be sorely needed in the years to come.
That’s because as the world’s arable land becomes less and less, the earth’s population will only become more and more. Countries will need nutrients for farmland to feed the growing mass of people, and so companies like Nutrien will need to have nutrients available to make sure food will end up on the table. While there are multiple companies out there that produce and distribute these products, Nutrien is well ahead of the curve.
Nutrien as been acquiring small companies for years now, creating a one-stop shop in a highly fragmented industry. The company has also set up shop around the world, including in the densely populated countries of India and China, where arable land is practically scarce. As of writing, the company takes up 20% of the market share in this industry.
The one downside to Nutrien is, it’s a new company, so it doesn’t have all that much information to fall back on when it comes to stock history. This can be considered less than ideal to investors looking for a stable stock. But as I say, this is an opportunity, and one supported by analysts.
Right now, the stock trades at a discount of 70% just to reach its fair value price. By 2021, analysts believe the stock will already have hit that price point and could soar even higher in that time. That would be an increase of 23% in just two years. Honestly, there’s no reason why the stock couldn’t continue that trajectory after the crash, making it a solid investment for long-term buyers. Especially with the stock’s amazing 5.22% dividend yield.
If that’s the case, a $10,000 investment in your TFSA today could make you $423,619.55 in 22 years with dividends reinvested.
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- Market Crash: 2 Top TSX Index Dividends Stocks for RRSP Investors Today
- Market Crash: 2 Screaming Buys
- 3 Dividend Stocks to Wait Out the Crash
- TFSA Investors: Retire Rich Right Now
- 2 TSX Stocks I’d Buy With $5,000 Today
Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Nutrien Ltd.
The post TFSA Investors: Turn $10,000 Into Over $400K in 22 Years appeared first on The Motley Fool Canada.
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