Major market indexes this Tuesday were mixed: the Dow closed near session lows, down 200 points or -0.67%, and the S&P 500 was off more moderately, down 0.2%. On the other side of the coin, both the Nasdaq and Russell 2000 closed at fresh all-time highs, +0.65% and 1.0%, respectively. The Nasdaq benefited from big days at Peloton (PTON - Free Report) and Apple (AAPL - Free Report) , while the small-cap Russell 2K index continues to rope in momentum traders.Tech had a good trading day, as Apple continued to generate interest on reports yesterday that it was developing a self-driving electric vehicle (EV) — the “iCar” — which is expected to come to market by 2024. Although seemingly out of left field, the tech behemoth has more cash on hand than most of the world’s nations’ GDPs, and as such is one of the few companies anywhere that might pose a plausible challenge to Tesla’s (TSLA - Free Report) position at the top of the EV heap.
Peloton was up 12% Tuesday on the announcement it was buying out rival Precor for $420 million. Analysts point to Peloton’s struggles in keeping up with demand as a “stay at home” alternative during the pandemic for people who would normally visit the gym during the week. Precor has over 600K square feet of manufacturing space, which should neatly assist Peloton’s needs. Precor is also a big presence in community workout spaces, like hotels and apartment buildings, which would help Peloton expand beyond its “stay at home” status once the pandemic is behind us.
Wednesday is the last full trading day for this Christmas Week; Thursday, Christmas Eve, will close at 1pm ET. Thus, much of what we normally would have seen in terms of economic data spread out through the end of the week will all hit the tape an hour before the opening bell tomorrow: Jobless Claims, Durable Goods Orders, Personal Income/Consumer Spending and Core Inflation.
The $900 billion relief bill just passed by Congress will be a salve for whatever the jobless claims numbers turn out to be; they’ve been going up on a fast trajectory for the last month and a half. Unemployment outlays and rent assistance are a notable part of the new package, which at very least will keep family units from (near-term) economic calamity.
Questions or comments about this article and/or its author? Click here>>
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Major market indexes this Tuesday were mixed: the Dow closed near session lows, down 200 points or -0.67%, and the S&P 500 was off more moderately, down 0.2%. On the other side of the coin, both the Nasdaq and Russell 2000 closed at fresh all-time highs, +0.65% and 1.0%, respectively. The Nasdaq benefited from big days at Peloton (PTON - Free Report) and Apple (AAPL - Free Report) , while the small-cap Russell 2K index continues to rope in momentum traders.
Tech had a good trading day, as Apple continued to generate interest on reports yesterday that it was developing a self-driving electric vehicle (EV) — the “iCar” — which is expected to come to market by 2024. Although seemingly out of left field, the tech behemoth has more cash on hand than most of the world’s nations’ GDPs, and as such is one of the few companies anywhere that might pose a plausible challenge to Tesla’s (TSLA - Free Report) position at the top of the EV heap.
Peloton was up 12% Tuesday on the announcement it was buying out rival Precor for $420 million. Analysts point to Peloton’s struggles in keeping up with demand as a “stay at home” alternative during the pandemic for people who would normally visit the gym during the week. Precor has over 600K square feet of manufacturing space, which should neatly assist Peloton’s needs. Precor is also a big presence in community workout spaces, like hotels and apartment buildings, which would help Peloton expand beyond its “stay at home” status once the pandemic is behind us.
Wednesday is the last full trading day for this Christmas Week; Thursday, Christmas Eve, will close at 1pm ET. Thus, much of what we normally would have seen in terms of economic data spread out through the end of the week will all hit the tape an hour before the opening bell tomorrow: Jobless Claims, Durable Goods Orders, Personal Income/Consumer Spending and Core Inflation.
The $900 billion relief bill just passed by Congress will be a salve for whatever the jobless claims numbers turn out to be; they’ve been going up on a fast trajectory for the last month and a half. Unemployment outlays and rent assistance are a notable part of the new package, which at very least will keep family units from (near-term) economic calamity.
Questions or comments about this article and/or its author? Click here>>
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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