Gold hit a six-year high on Friday, and then a seven-year high yesterday. The metal's price has been trending up for nearly four years now, but recent geopolitical events have helped move it further.
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| |  Good morning. There's an old Wall Street saying: "Buy the rumor and sell the news." Yesterday, a rumor started circulating that Warren Buffett was building a stake in Boeing. There's some value in Boeing shares at these prices, and it's a big enough company for the cash-heavy Buffett to be interested in, particularly if he can get one of his sweetheart preferred share deals.
Whether that's true or not, it was good enough to send shares up nearly 2 percent immediately and settling the day up 1 percent—not bad for a rumor on such a massive company and one with no comment.
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| | |  | DOW 28,582.86 | -0.42% | | | | S&P 3,237.14 | -0.28% | | | | NASDAQ 9,068.58 | -0.03% | | | | | *As of market close | | | • | Stocks trended down yesterday, although the Nasdaq spent most of the day in the green. | | | • | Oil prices declined 1.01 percent, to $62.63 per barrel. | | | • | Gold rose 0.25 percent, to $1,572.90 per ounce. | | | • | Cryptocurrencies mostly moved lower, but Bitcoin surged 4.9 percent to $8,159. | | | |
| | | Two Steady Utility Stocks to Buy in Calm Markets | | | | Today's markets are still geared towards heading higher. But there are some potential concerns along the way. The obvious concerns are a Presidential election in the fall, to say nothing of most prospective trade war fears—or even outright war fears, given recent geopolitical events. In short, today's calm markets may go haywire. That's why now may be the best time to take some profits and put them in boring, stodgy utility stocks.
» FULL STORY | | | | |
| | Insider Trading Reports: Crimson Wine Group (CWGL) | | | | Craig Omtvedt, a director at John Cumming, a director at Crimson Wine Group (CWGL), picked up 8,800 shares last week. The buy increased his total holdings to 281,078 shares, and cost just over $64,000.
He was joined by Joseph Steinberg, also a director and major holder, who bought 8,620 shares to bring his total to 2.67 million shares.
Insider buying data for the past three years shows repeat insider buys from directors and C-suite executives, with no sales.
» FULL STORY | | | | |
| | Unusual Options Activity: General Electric (GE) | | | | The March 20th 2020 $14 put options on General Electric (GE) saw a 12-fold rise in volume, going from 855 open contracts to just under 10,000 contracts. The trade, expiring in 72 days, is a bet on shares to decline. But with GE shares around $12, the option is $2 in-the-money, and should increase in value dollar-for-dollar with any decline in GE shares. The option trader paid $2.09, so the option has very little time premium in it.
» FULL STORY | | | | |
| | | | TOP | | | APA | 26.794% | | | | MU | 8.784% | | | | WDC | 6.77% | | | | MCHP | 6.71% | | | | M | 3.333% | | | BOTTOM | | | CAO | 3.58% | | | | STZ | 3.571% | | | | ARE | 3.273% | | | | NBL | 2.84% | | | | HAL | 2.836% | | | | |
| | |  | | The stabilization in global manufacturing activity, and the trade truce with China, suggest that the drag on the US economy from weak growth overseas has now run its course. | | - Andrew Hunter, Senior U.S. Economist at Capital Economics, on why the trade gap has likely narrowed as far as it is likely to with U.S./China trade likely to pick up.  | |
| | The Perfect Income Investment? | | | Imagine a stock that pays you 100% income on your money every year... and continues to do so for the rest of your life.
$1,000 in savings would pay you $1,000. $10,000 would pay you an extra $10,000. $100,000 would pay you $100,000. And again, that's every year.
We never thought an investment like that would be possible... Until we saw this.
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