The news-related spike in oil leaves WTI crude at a difficult level where overhead supply comes into play. As seen in the chart below, oil has advanced from $55 a barrel to $77 a barrel (plus $22 a barrel… +40%), and is now back up “to the penny” to the well-defined downtrend line of the past 12 months. If one is long, we would harvest/take profits/sell calls/take measures of some kind. And for those who engage in shorting, we would sell here. (Check out Carter’s worthcharting.com for actionable recommendations and live nightly videos.) DISCLOSURES: (None) All opinions expressed by the CNBC…
Author: usaeverydaylife
The S & P 500 appears pricey, but Bank of America isn’t sweating it. “The index looks statistically expensive relative to its own history on all 20 of the valuation metrics we track,” Savita Subramanian, equity and quant strategist for the firm, said in a Thursday note to clients. Subramanian said valuation multiples have grown during the relief rally seen after stocks initially plunged in the wake of President Donald Trump’s tariff policy unveiling in early April. With the S & P 500’s recovery, she said the index now trades at 21-times forward earnings, which is around 35% above its…
These are the stocks posting the largest moves in midday trading. Source link
Oracle has a rosy outlook ahead, according to BMO Capital Markets. The bank upgraded the cloud computing stock to an outperform rating from market perform. Analyst Keith Bachman accompanied the move by lifting his price target to $235 from $200. Bachman’s revised price target implies an upside of nearly 18% ahead. Shares of Oracle have surged 20% this year. They added 13% on Thursday, a day after the company reported fiscal fourth-quarter results that exceeded analyst expectations on both the top and bottom lines. The stock fell 1% in premarket trading Friday. ORCL YTD mountain ORCL YTD chart Bachman attributed…
Modine Manufacturing has an opportunity to capitalize on the enormous data center buildout, according to KeyBanc Capital Markets. The investment bank initiated coverage of the thermal management stock with an overweight rating and a $125 per share price target, implying about 29% upside from Thursday’s $97.07 close. Modine has lowered its exposure to the legacy automotive segment and is instead focusing on “high growth climate opportunities,” namely data centers, according to analysts led by David Tarantino. KeyBanc said the Racine, Wisconsin-based manufacturer has an “attractive” position within the data center market, specifically in cooling power-hungry building housing racks of computers.…
Writer E. Jean Carroll arrives at the 2nd U.S. Circuit Court of Appeals, where former U.S. President Donald Trump will arrive to ask a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her, who accused Trump of raping her nearly three decades ago, in Manhattan, New York, U.S., September 6, 2024. Adam Gray | ReutersRead more CNBC politics coverageTwo 2nd Circuit judges dissented from Friday’s decision not to grant a so-called en banc rehearing of the case.Their written dissent said the panel “sanctioned striking departures” from legal precedent “to justify the…
Archer Aviation co-founders Brett Adcock (L) and Adam Goldstein (R) unveil the Archer Maker on June 10, 2021 in Hawthorne, California.Patrick T. Fallon | AFP | Getty ImagesArcher Aviation’s stock dropped as much as 15% on Friday after the air taxi maker said it sold $850 million worth of shares.The electric vertical takeoff and landing vehicle, or eVTOL, company said Thursday it plans to use the financing to support new infrastructure and the rollout of an artificial intelligence-based aviation software platform. The money will also support its Launch Edition program, including an official partnership to provide air taxi services during…
A woman shops at a supermarket on April 30, 2025 in Arlington, Virginia.Sha Hanting | China News Service | Getty ImagesConsumers in the early part of June took a considerably less pessimistic about the economy and potential surges in inflation as progress appeared possible in the global trade war, according to a University of Michigan survey Friday.The university’s closely watched Surveys of Consumers showed across-the-board rebounds from previously dour readings, while respondents also sharply cut back their outlook for near-term inflation.For the headline index of consumer sentiment, the gauge was at 60.5, well ahead of the Dow Jones estimate for…
With the recent market gains, now may be the time for investors to consider buying call options as a substitute for stocks, according to Goldman Sachs. After turning positive for the year last month on the heels of the U.S. and China agreeing to temporarily cut tariffs for 90 days, the S & P 500 is now within striking distance of scoring a new high. As of Thursday’s close, the broad market index was 1.7% away from its February record. Prior to Israel’s strike on Iran, the index was on pace for its third positive week in a row, and…
Oil futures are surging after Israel strategically launched waves of airstrikes against Iran. I want to use options on the Energy Select Sector SPDR Fund (XLE) to produce income as well as properly capture this pop in both crude and brent which I believe will be a short-lived move. Some of Iran’s top military leaders were eliminated, and one of the country’s main underground uranium enrichment sites has been reportedly destroyed. Israeli jets entered via Syria after disabling Iranian and Iraqi air defenses, striking enrichment specific sites and missile bases. The reason I believe this move in oil will fade…
