S&P 500: Under Pressure
Pivot (invalidation): 3038.00 Our preference Short positions below 3038.00 with targets at 3000.00 & 2965.00 in extension. Alternative scenario Above 3038.00 look for further upside with 3083.00 & 3115.00 as targets. – advertisement – Comment The RSI is bearish and...
Wall Street is underpricing a Joe Biden presidential win, Wells Fargo’s Chris Harvey warns
Wells Fargo Securities’ Christopher Harvey believes the market is underestimating a major risk — and it’s not the coronavirus. According to the firm’s head of equity strategy, a Joe Biden presidential win could throw Wall Street a curve ball and hurt...
Sideways: Goldman Sachs and politics – DJ D-Sol may regret crossing AOC
Goldman Sachs chief executive David Solomon contributed $5,600 to Michelle Caruso-Cabrera, a former CNBC journalist who challenged Alexandria Ocasio-Cortez in the recent Democratic primary election for the 14th congressional district in New York, which covers parts of the Bronx and...
Credit card industry reins in balance-transfer offers as banks from JPMorgan to Amex fear defaults
Getty Images Banks have pulled back from a popular credit card promotion on concerns that borrowers struggling during the coronavirus crisis may leave them with defaulting loans. Balance transfer offers, which typically entice borrowers to move their debt to a new...
Risk Reversal Building Up on Coronavirus and US-China Tensions
The conditions for risk reversal continued to build up last week and somewhat intensified. On the one hand, daily new coronavirus cases surged to new high for the world world, as well as for the US. Daily global new deaths...
Resurgence in COVID-19 Threatens to Derail the Recovery
New case growth and hospitalizations appear to be accelerating primarily in the Sun Belt. Even without new lockdowns, the economic toll from acute COVID-19 outbreaks in multiple metro areas will begin to add up. Hazards Ahead: Growth Drivers May Soon...
Weekly Economic and Financial Commentary: Rises COVID-19 Cases Offset Better Economic News
U.S. Review Rising COVID-19 Cases Put a Damper on Re-openings The rising number of COVID-19 infections gained momentum this week, with most of the rise occurring in the South and West. The rise in infections is larger than can be...
The Weekly Bottom Line: Climbing COVID-19 Infections Threaten the Recovery
U.S. Highlights U.S. stock markets erased their earlier gains this week as the rise in COVID-19 cases weighed on sentiment. Green shoots are continuing to emerge in the economic data. Consumer spending rebounded by 8.2% in May driven by surging...
Week Ahead – Jitters Continue into Busy Week
Country US The Fed releases the Minutes to their last policy decision and may start to show some signs they are worried about inflation. Policymakers will likely reiterate they are flying blind given the uncertainty about the course of COVID-19...
Week Ahead: Coronavirus Heating Up Again Ahead of Month-End
Tuesday, June 30th marks the last day in the month of June. However, not only is it month end, it is also the end of Q2 and the half year mark of 2020. China headlines take a backseat last week...
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