Markets Live Recap: Stocks Start June in the Green

By Money Morning Staff Reports, Money Morning • June 1, 2020

As states continue to reopen their economies amid the coronavirus pandemic, investors showed their optimism and bid the S&P 500 0.4% higher today.

Traders are also grappling with rising tensions between the United States and China over the latter's treatment toward Hong Kong.

With a list of earnings reports coming up and potential risks on the horizon, we're here to help you make the most money no matter what happens next.

Here's what our experts - Chris Johnson, Tom Gentile, D.R. Barton, Jr., and Shah Gilani - are watching today.

Chris Johnson covered some of the most important earnings reports to watch this week (8:45 a.m. EDT)

• Chris is bullish on Dicks Sporting Goods Inc. (NYSE: DKS), currently trading for $36.50 and reporting earnings on June 2.
  • Fundamentally, he likes the increased store traffic since lockdown restrictions were lifted in many states around the nation.
  • Technically, the stock looks primed to shoot higher after a good earnings call and a break above the 200-day moving average.
  • Chris has a $40 price target on the stock.
• Zoom Video Communications Inc. (NASDAQ: ZM) started the day trading for $179.50 per share.
  • The stock reports earning on June 3, and Chris could see the stock trading for $225 per share if it reports positive results.
  • Zoom has a lot of momentum behind it and closed 12.75% higher at $202.50 by the end of the day.
• Campbell's Soup Co. (NYSE: CPB), currently trading for $51 and reporting earnings on June 3.
  • Chris has a $55 price target on the stock for the week.
• Michaels Cos. Inc. (NASDAQ: MIK), currently trading for $3.86 and reporting earnings on June 4.
  • Chris has a post-earnings price target of $5.

Tom Gentile (11 a.m. EDT)

• Tom likes Bitcoin and Ethereum both for the short term and long term.
• He also thinks gold is a great hedge for investors to profit off what he expects to be continued uncertainty regarding consumers returning to spending and businesses' abilities to make money.
• Tom thinks there is a high probability Hertz Global Holdings Inc. (NYSE: HTZ) will not come out of Chapter 11 bankruptcy.
  • Here's a short video Tom put together about the company.

D.R. Barton, Jr., revealed some of the top stocks he's watching today (1:30 p.m. EDT)

• Digital Realty Trust Inc. (NYSE: DLR), currently trading for $144.
  • R. likes the fundamentals of this business because he's bullish on the technology sector as a whole. His price target is $160 for the stock.
• D.R. also likes CoreSite Realty Corp. (NYSE: COR) because of its recent technical breakout above $120 per share.
  • The stock could run to $145-$150 per share in short order.
• He loves Amazon.com Inc. (NASDAQ: AMZN) long term and thinks investors should buy the stock on any pullback.
  • $2,300 per share is his next buy target.
• D.R. really likes Square Inc. (NASDAQ: SQ), currently trading for $82.50 per share.
  • He also likes this company long term and thinks investors will benefit from buying any dips in the future.
• D.R. likes the fundamentals of Shopify Inc.'s (NASDAQ: SHOP) business, but he doesn't like the stock at its currently escalated level at $750 per share.
  • The stock would have to drop a couple hundred dollars before D.R. would recommend buying it.

Shah Gilani (3:45 p.m. EDT)

• Shah is cautiously optimistic that we haven't seen increased COVID-19 numbers in states like Texas and Georgia, where they have fully reopened.
• Unfortunately, since most businesses in most states are still shut down, he thinks many companies will be filing for bankruptcy over the next couple months.
• Shah thinks an escalated trade war with China would be one of the worst things that could happen to this already fragile economy.

Catch us tomorrow - starting LIVE again at 8:45 a.m. EDT with Chris Johnson, right here.

If you missed our live streams today, you can now replay them on our YouTube channel, here.

Got a question you want our experts to cover? Send us a note.

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