Goldman Sachs See Gold Rally Even Further In 2020

Analyst are saying there are several reasons to believe Gold will continue to move higher in the second half of 2020 predicting a fresh record high for the precious metal in the coming years.Gold trading at $1775 up around 0.2% for the session.The safehaven asset briefly touched $1789.10 on Wednesday.The near nineyear peak for gold came after promising results from a Covid19 vaccine trial boosted hopes for a fasterthanexpected economic recovery.The yellow metal remains the only key commodity to show a positive return so far in 2020.Patient [read more]

Shares Of Pfizer Up 3.2% On Potential Vaccine Candidate

Shares of Pfizer (NYSEPFE) rose 3.2% on Wednesday after the pharmaceutical giant released promising early results from its COVID19 vaccine trials. Pfizer is working with German biotech BioNTech to develop a novel coronavirus vaccine. On Wednesday the two companies said that one of their vaccine candidates labeled BNT162b1 produced neutralizing antibodies in all 24 participants who received two doses (of either 10 or 30 micrograms) of the experimental drug. Health officials are hopeful that neutralizing antibodies could help to build immunity to COVID19.Notably Pfizer and BioNTech [read more]

Best Performing Dow Jones Stock Of Q2

The second quarter was a dramatic one for U.S. stocks the S&P 500 had its best quarter since 1998.But many of the best performers were really bounce backs from the depressing March when the market hit bottom during the start of the coronavirus pandemic.Some stocks are still down for 2020 but there were also some real winners ones that were up significantly in the quarter and the first half of the year.Below are lists of stocks that rose the most during the second quarter.The Dow Jones Industrial Average USDJIA [read more]

Fed's Chair Powell And US Treasury Secretary Mnuchin Underscore Commitment To Support The Economies

Stocks rallied after testimony to Congress by FED Jerome Powell and U.S. Treasury Secretary Steven Mnuchin underscored an ongoing commitment to anchor the U.S. economy through the COVID19 pandemic.Mnuchin said the Treasury and Fed were looking at extending the Feds established 11 emergency lending facilities to include assetbased lending markets but also reiterated that additional types of COVID19 aid likely will need to be addressed by Congress under the next phase of stimulus.Powell emphasized that the overriding goal of the central banks facilities is to help get the roughly [read more]

Tesla Stock Up More Than 4,000% Since Debut 10 Years Ago

Tesla IPO ten years ago today pricing shares at $17 the company raised around $226 million in its IPO with shares surging that day by around 41% to close at $23.89. Today shares in the electric vehicle maker closed at $1009.35 meaning Teslas stock has risen by 4125 % since the close of its first day as a public company.Tesla stock has outperformed other big tech names like Amazon and Apple as well as all [read more]

Fed Jerome Powell Will Testified To House Financial Services Committee

Jerome H. Powell the Federal Reserve chair will tell lawmakers on Tuesday that the U.S. economy is bouncing back but the path ahead remains dependent on the virus and the action of policymakers.We have entered an important new phase and have done so sooner than expected Mr. Powell said in remarks prepared for delivery to the House Financial Services Committee. He will note that consumer spending rebounded strongly but will warn that the outlook is extraordinarily uncertain and hinges on whether efforts to contain the coronavirus pandemic succeed.The path forward will also depend on the policy actions [read more]

How The Stock Markets Works

Stocks are bought and sold on stock markets which bring together buyers and sellers of publicly traded company shares. Stock markets operate kind of like auctions where potential buyers name their highest price (the bid) and potential sellers name their lowest price (the ask). The actual price a trade is executed at is somewhere between the bid and the ask. Trades can be placed by stockbrokers usually on behalf of portfolio managers or individual investors like you. The stock market in the US is made up of 13 exchanges the best known are the New York Stock Exchange and [read more]

Gold Set For A Volatile Week Ahead As It Aiming for $1,800

Gold is looking at another volatile week with an attempt at breaching the $1800 an ounce level according to analysts. Safehaven sentiment has been helping gold maintain its bullish momentum but higher U.S. dollar has been stealing some safehaven attention from gold. At the forefront of investors minds is the rising COVID19 reinfection rate in the U.S. The number of new cases rose at least 39818 on Thursday which is the highest oneday increase in the U.S. to date. Concerns around how this will impact the U.S. economic recovery [read more]

June Non-farm Payroll And FedEX Earning Will Be In Focus The Week Ahead

The week ahead is important for markets with the economic recovery in the U.S. and around the world. Investors will be closely monitoring the recent resurgence in COVID19 cases across a handful of U.S. states and the big June jobs report due out Thursday.U.S. markets will be close on Friday for observance of the Fourth of July holiday. U.S. June Nonfarm payroll reportThe Bureau of Labor Statistics is scheduled to release the June jobs report Thursday morning ahead of a long holiday weekend. Economists surveyed by Bloomberg anticipate the U.S. economy added 3 million nonfarm payrolls [read more]

Oil prices settle higher after 2-session drop, but demand worries persist on coronavirus flare-up

Oil futures settled higher on Thursday after posting two consecutive sessions of declines but worries about the daily rate of increase in new coronavirus cases in the U.S. and other countries is taking a toll on expectations for demand for crude and keeping prices lower for the week.Some improvement in U.S. economic data and comments from a White House officials helped to calm traders nerves over the shortterm prospects for the economy.A big jump in durable goods and assurances by White House Economic Advisor Larry Kudlow that the U.S. was not going to shut the economy down gave us [read more]