Markets have hit new all-time highs again, finally shrugging off the coronavirus fears in just under two weeks.
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| |  Good morning. Markets have hit new all-time highs again, finally shrugging off the coronavirus fears in just under two weeks. With 568 deaths so far, the disease seems to be on par to be less destructive, on average, than the flu. In the United States alone, flu season can take up to 15,000 lives annually.
More importantly, traders are looking toward the fact that the Federal Reserve continues to provide liquidity. That's a more powerful drug than any coronavirus fear, and as soon as the Fed steps back on its repo operations, expect markets to get jittery again.
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| | |  | DOW 29,379.77 | +0.30% | | | | S&P 3,345.78 | +0.33% | | | | NASDAQ 9,572.15 | +0.67% | | | | | *As of market close | | | • | Stocks headed higher again yesterday, as China announced a drop in tariffs on U.S. goods. | | | • | Oil rallied 0.6 percent, hitting $51.04 per barrel. | | | • | Gold rose 0.4 percent, moving to $1,569 per ounce. | | | • | Cryptocurrencies rallied, with Bitcoin rising 1.4 percent to $9,755. | | | | | | | |
| | | Two Precious Metals Plays to Buy Now | | | | Markets went through two trials in January. First was the geopolitical standoff between the United States and Iran, which some initially saw as the potential beginning for World War III. Then, we faced the coronavirus outbreak, which had the potential to be devastating to millions of lives.
That made for a historically busy January!
Fortunately, markets saw both events as short-lived. But both events also had one thing in common: Only one asset, gold, held its own during those struggles.
» FULL STORY | | | | |
| | Insider Trading Reports: AT&T (T) | | | | Stephen Luczo, a director at AT&T (T), recently bought 100,000 shares of the company. The buy increased his stake by 156 percent. The total cost for the buy came to just over $3.7 million.
Overall, insider data shows that there have been a mix of buys and sells in the past year, but insiders have bought far more than they have sold.
Even with these large buys, insiders own less than 0.1 percent of all shares outstanding.
» FULL STORY | | | | |
| | Unusual Options Activity: L Brands Inc (LB) | | | | February 28th call options with a $25 strike price on L Brands Inc (LB) saw a 100-fold surge in volume, going from 100 open contracts to around 10,000 trade hands.
The bet, expiring in 21 days, is that shares will rally to $25 from their current price near $24.50, or just over 2 percent.
The option buyer also paid about $1.15 for the contract, so shares would need to clear $26.15 to profit the buyer at expiration.
» FULL STORY | | | | |
| | | | TOP | | | TWTR | 15.034% | | | | CAH | 10.592% | | | | CTSH | 9.928% | | | | FMC | 5.991% | | | | TTWO | 5.78% | | | | BOTTOM | | | BDX | 11.798% | | | | PAYC | 9.857% | | | | K | 8.506% | | | | CPRI | 5.914% | | | | TSN | 5.16% | | | | |
| | |  | | If we continue to grow, you're going to see consumer prices, wages, commodity prices — cost in general — start to pressure business operations, household budgets and ultimately, the valuations of the stock market…Even though we're going to have pullbacks, I think the economy is going to pick up. That may bring some pressures, but we certainly don't have them yet. | | - Jim Paulsen of Leuthold Group on the downside risks to a strong economy of rising costs and inflation in the future as the economy continues to expand.  | |
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