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Stocks Jump on Trump Trade Tweet, Q3 Earnings and Buy Marijuana Stocks - Free Lunch
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On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into U.S.-China trade war updates, including President Trump’s tweet that helped U.S. stocks climb Thursday morning. We also look at the ongoing situation between the NBA and China, as well as some companies set to report Q3 earnings results next week, and why marijuana stock Cronos Group (CRON - Free Report) is a Zacks Rank #1 (Strong Buy).
U.S. stocks popped Thursday morning after President Trump tweeted “Big day of negotiations with China. They want to make a deal, but do I? I meet with the Vice Premier tomorrow at The White House.” The announcement, which comes as top U.S. and Chinese officials start two days of trade meetings in Washington, helped push Dow components such as Caterpillar (CAT - Free Report) and Intel (INTC - Free Report) up big.
Still, many on Wall Street remain cautious and somewhat pessimistic that a trade deal gets done, especially as broader, non-tariff issues such as the U.S. blacklist of Chinese firms like Huawei, grows. Meanwhile, the ongoing fight between the NBA and China, which started with Houston Rockets GM Daryl Morey’s support of Hong Kong protestors, could have significant ramifications. With that said, the preseason game between the Los Angeles Lakers and Brooklyn Nets was played in Shanghai Thursday.
The NBA, Nike (NKE - Free Report) , Adidas (ADDYY - Free Report) , and many other businesses have millions of dollars riding on the continued expansion of the world’s largest basketball league in China, including Nets owner Joseph Tsai, who co-founded Alibaba (BABA - Free Report) .
We then close with why Cronos stock looks like a buy after four of the largest Canadian marijuana stocks, Aurora, Tilray, Canopy, and CRON, have been crushed.
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.
Stocks Jump on Trump Trade Tweet, Q3 Earnings and Buy Marijuana Stocks - Free Lunch
On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into U.S.-China trade war updates, including President Trump’s tweet that helped U.S. stocks climb Thursday morning. We also look at the ongoing situation between the NBA and China, as well as some companies set to report Q3 earnings results next week, and why marijuana stock Cronos Group (CRON - Free Report) is a Zacks Rank #1 (Strong Buy).
U.S. stocks popped Thursday morning after President Trump tweeted “Big day of negotiations with China. They want to make a deal, but do I? I meet with the Vice Premier tomorrow at The White House.” The announcement, which comes as top U.S. and Chinese officials start two days of trade meetings in Washington, helped push Dow components such as Caterpillar (CAT - Free Report) and Intel (INTC - Free Report) up big.
Still, many on Wall Street remain cautious and somewhat pessimistic that a trade deal gets done, especially as broader, non-tariff issues such as the U.S. blacklist of Chinese firms like Huawei, grows. Meanwhile, the ongoing fight between the NBA and China, which started with Houston Rockets GM Daryl Morey’s support of Hong Kong protestors, could have significant ramifications. With that said, the preseason game between the Los Angeles Lakers and Brooklyn Nets was played in Shanghai Thursday.
The NBA, Nike (NKE - Free Report) , Adidas (ADDYY - Free Report) , and many other businesses have millions of dollars riding on the continued expansion of the world’s largest basketball league in China, including Nets owner Joseph Tsai, who co-founded Alibaba (BABA - Free Report) .
Moving on, Delta (DAL - Free Report) stock slipped Thursday, which means Wall Street will now look to United’s (UAL - Free Report) quarterly results next week. The firm is part of a group of more than 150 companies set to report their quarterly financial results, including JPMorgan Chase (JPM - Free Report) , Netflix (NFLX - Free Report) , and other giants (also read: Here's What to Expect as Q3 Earnings Season Revs Up).
We then close with why Cronos stock looks like a buy after four of the largest Canadian marijuana stocks, Aurora, Tilray, Canopy, and CRON, have been crushed.
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.
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