Markets sold off violently this week as the full scale of inflation fears began to sink in.
Though stocks managed to catch a break on Thursday, the gains were not evenly spread out across indexes.
But a permanent state of volatility seems to be the new normal, and while this spells trouble for the short-term trend, especially Big Tech, Chris isn't worried.
In fact, his chart shows a technical situation unfolding here that'll likely send one small stock soaring 50% or more..
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Despite hardly any positive news, Wall Street continued putting more cash to work on Wednesday as investors bid stocks another 2% higher.
They're betting that we're going to have a smooth reopening of the economy even as coronavirus infections continue higher and protests against police brutality fuel nationwide social unrest.
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Catchphrases like the "Death of Retail!" or the "Retail Apocalypse!" have been flying all over the media for around a decade now. Whales like Amazon and Walmart have been crushing the competition since way, way before the coronavirus upended life and commerce around the world.
Just take a look at this exchange-traded fund. I've been talking about it in my Markets Livestream because it's returned almost 5% this year. I'm talking about the ProShares Decline of the Retail Store ETF. And get this: It's trading under the ticker EMTY.
The name and ticker say it all, but still… Ouch. Someone on Wall Street has an edgy sense of humor…
In 2019, more than 9,300 store closings were announced, and the COVID-19 pandemic promises to eclipse that grim record. I'm reading now that Cushman & Wakefield estimate a whopping 12,000 big chain stores could fold in 2020.
Look – it would be unfair to lay all of this at the feet of Amazon and Walmart; for retailers, business conditions can be fluid at the best of times, and the COVID-19 pandemic has been absolutely brutal for most of the consumer spending-driven U.S. economy.
So the big players have clearly cemented their positions. But here's the thing: They're not the only game in town. Nor is all retail dead – not by a longshot.
It's just that, to use an "SAT word," retail has almost completely bifurcated; there are now two separate retail sectors emerging.
Let me tell you all about the one you want to be in for the long haul… Full Story
Let me tell you all about the one you want to be in for the long haul...
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Stocks rose sharply today as investors bet on a successful economic recovery with more states easing their stay-at-home policies.
Facebook Inc. (NASDAQ: FB) and Amazon.com Inc. (NASDAQ: AMZN) led the way, both closing at new all-time highs.
The Dow was up 1.5%, the S&P 500 closed 1.7% higher, and the Nasdaq rallied 2.1%.
Here's what our experts – Chris Johnson and Shah Gilani – saw live at the open and close of the trading day.
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The Dow Jones today will hold steady as investors await developments on a trade deal between the U.S. and China. Meanwhile, the market is gearing up for Friday's official monthly report from the U.S. Labor Department.
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The Dow Jones news today will focus on the investigation into President Trump's campaign as a special counsel was appointed yesterday by the Department of Justice.
Dow Jones futures are down 88 points today after the Dow fell 372 points yesterday.
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The Dow Jones futures are on the rise in premarket hours as the index aims to reach a 12-day winning streak.
On Friday, the Dow gained 11 points in the final few minutes of the trading session and extended its gains for the 11th consecutive trading session.
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The Dow Jones Industrial Average today finished flat after OPEC reached a deal to cap excessive crude oil production.
This should help create a balance between supply and demand.
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The Dow Jones Industrial Average today is rising in premarket hours as oil prices push higher.
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