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The Zacks Analyst Blog Highlights: JPMorgan, American Express, Boeing and Virgin Galactic
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For Immediate Release
Chicago, IL – May 28, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JPMorgan (JPM - Free Report) , American Express (AXP - Free Report) , The Boeing Company (BA - Free Report) and Virgin Galactic (SPCE - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Markets Up Big Again as COVID-19 Claims 100K in U.S.
Bulls took the reins in the final minutes of Wednesday trading, pushing up nearly 200 points within the last half hour of trading. The Dow closed up 2.2%, led by strong performances from the big banks like JPMorgan and American Express. We are currently shaping up for one of the strongest weeks in the market since the bottom fell out two months ago on “shelter in place” initiatives to combat the spread of COVID-19.
Today’s big ramp-up in the 3 major U.S. indexes — the Nasdaq was up 0.55% on the day, and the S&P 500 +1.48% — comes on a somber date in history regarding the coronavirus pandemic, as domestic fatalities have surpassed 100K. Now 1.72 million Americans have been confirmed as having contracted the disease. Worldwide, 5.64 million confirmed cases have resulted in 353K deaths.
What has been scheduled for today was an historic launch by SpaceX — the joint venture between Tesla’s (TSLA) CEO Elon Musk and The Boeing Company — has now been postponed due to bad weather. The Falcon 9 rocket, which currently sits on the platform at the Kennedy Space Center, will be the first U.S. space launch since the final flight of NASA’s Space Shuttle Atlantis nearly 9 years ago. The launch has now been rescheduled for 3:22pm ET Saturday.
This is also the first space mission conducted primarily through non-government entities. Though SpaceX — still a private company, with no immediate plans for an IPO — is working in tandem with NASA, it is effectively first-to-market with human space travel. Other companies in the “space,” like Virgin Galactic and Amazon-founder Jeff Bezos’ Blue Origin, are estimated to help create an $800 billion industry over the next decade. Saturday’s launch is expected to be a momentous occasion for this market “taking off.”
Pros & Cons in China
While China’s industrial growth adds to the positive sentiment regarding the global economy beyond the COVID-19 crisis, not all is coming up roses in the world’s second-largest economy. Increasing tensions over security laws in Hong Kong from Mainland China — which many in Hong Kong see as a “crackdown” on their legal and economic autonomy — have resulted in new skirmishes between police and protestors. U.S. Secretary of State Mike Pompeo made it a point to say “Hong Kong is no longer autonomous from China,” and commented that the U.S. stands on the side of the protesters.
This is in addition to legislation being formed here at home that would subject publicly traded companies to audits by the U.S. government. This would likely cause many Chinese companies currently trading in the U.S. markets to de-list from the indexes. These will be developments worth keeping an eye on as the week progresses.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: JPMorgan, American Express, Boeing and Virgin Galactic
For Immediate Release
Chicago, IL – May 28, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JPMorgan (JPM - Free Report) , American Express (AXP - Free Report) , The Boeing Company (BA - Free Report) and Virgin Galactic (SPCE - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Markets Up Big Again as COVID-19 Claims 100K in U.S.
Bulls took the reins in the final minutes of Wednesday trading, pushing up nearly 200 points within the last half hour of trading. The Dow closed up 2.2%, led by strong performances from the big banks like JPMorgan and American Express. We are currently shaping up for one of the strongest weeks in the market since the bottom fell out two months ago on “shelter in place” initiatives to combat the spread of COVID-19.
Today’s big ramp-up in the 3 major U.S. indexes — the Nasdaq was up 0.55% on the day, and the S&P 500 +1.48% — comes on a somber date in history regarding the coronavirus pandemic, as domestic fatalities have surpassed 100K. Now 1.72 million Americans have been confirmed as having contracted the disease. Worldwide, 5.64 million confirmed cases have resulted in 353K deaths.
What has been scheduled for today was an historic launch by SpaceX — the joint venture between Tesla’s (TSLA) CEO Elon Musk and The Boeing Company — has now been postponed due to bad weather. The Falcon 9 rocket, which currently sits on the platform at the Kennedy Space Center, will be the first U.S. space launch since the final flight of NASA’s Space Shuttle Atlantis nearly 9 years ago. The launch has now been rescheduled for 3:22pm ET Saturday.
This is also the first space mission conducted primarily through non-government entities. Though SpaceX — still a private company, with no immediate plans for an IPO — is working in tandem with NASA, it is effectively first-to-market with human space travel. Other companies in the “space,” like Virgin Galactic and Amazon-founder Jeff Bezos’ Blue Origin, are estimated to help create an $800 billion industry over the next decade. Saturday’s launch is expected to be a momentous occasion for this market “taking off.”
Pros & Cons in China
While China’s industrial growth adds to the positive sentiment regarding the global economy beyond the COVID-19 crisis, not all is coming up roses in the world’s second-largest economy. Increasing tensions over security laws in Hong Kong from Mainland China — which many in Hong Kong see as a “crackdown” on their legal and economic autonomy — have resulted in new skirmishes between police and protestors. U.S. Secretary of State Mike Pompeo made it a point to say “Hong Kong is no longer autonomous from China,” and commented that the U.S. stands on the side of the protesters.
This is in addition to legislation being formed here at home that would subject publicly traded companies to audits by the U.S. government. This would likely cause many Chinese companies currently trading in the U.S. markets to de-list from the indexes. These will be developments worth keeping an eye on as the week progresses.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performancefor information about the performance numbers displayed in this press release.