Tale of the Tape
Good evening folks. Stocks rallied today with the Nasdaq leading the way rising 1.66%.
Big cap tech names like Tesla, Netflix, Apple, JD.com, and Paypal were all up big. Meanwhile Financials fell with names like Wells, JP Morgan, and Truist, and US Bancorp all down more than 1%.
Gold and Silver are ripping higher and suddenly they’re the talk of the town. Gold made an all-time high in US Dollars and Silver ripped another 7.5% now up 37% in a month.
Bitcoin and Ethereum also continue to bound higher with both making YTD highs.
This Thursday will be one of those days market junkies freaking LOVE as 4 giant tech companies, making up 40% of the Nasdaq 100 by market cap, report earnings. More on this below.
Oh, and do not forget, AMD reports tomorrow after the close – always a rockin’ good time.
| S&P 500 | 3,239 | +0.74% |
| Nasdaq | 10,535 | +1.66% |
| Russell 2000 | 1,484 | +1.16% |
| Dow Jones | 26,584 | +0.43% |
Moderna
Today, Moderna began Phase 3 trial for its coronavirus vaccine. The late-stage clinical trial involves 30,000 volunteers at 87 sites across the United States.
The speed of the development of this vaccine is absolutely incredible. U.S. officials said it was the fastest vaccine from design to Phase 3 ever in US history, and we could see results by Thanksgiving.
Pray for positive data. 🙏
Here’s the Wall Street Journal with more.
Thursday Is Gonna Be Lit 🔥
Facebook rescheduled its Q2 earnings to Thursday afternoon due to a “scheduling conflict”. CEO Mark Zuckerberg is set to appear before Congress in an antitrust investigation. Zuck will be joined by Jeff Bezos, Tim Cook, and Sundar Pichai.
Now on Thursday we will get numbers from Amazon, Apple, Google, and Facebook. These 4 companies make up nearly 40% of the Nasdaq 100s market cap. This should be fun.
Ethereum Delirium
Cryptos continued to catapult with both Bitcoin and Ethereum making YTD highs.
Ethereum is now up well over 100% for the year and the action there is wild. Here’s the monthly chart.
Bitcoin is up 50% YTD with a market capitalization right about $200B.
Just when everybody was having much more fun with stocks like Zoom and Tesla and getting bored with crypto, these guys come back to life with much gusto.
Maybe they’ll make new highs before year end. Place your bets…
Silver and Gold
The action in the precious metals is off the charts!
Gold is making all-time highs like no big deal and Silver is bounding higher by 7.5% plus a session.
This along with the crypto rally is enough to make someone think investors are beginning to lose confidence in the US Dollar. Nah, we’re sure it’s nothing.
No More Baseball???
Less than a week after the MLB kicked off its 2020 season, two games have already been postponed due to a coronavirus outbreak in the Miami Marlins organization. This comes after the league was already delayed four-months because of the virus.
Future Hall of famer and CEO of the Marlins, Derek Jeter, had this to say,
The health of our players and staff has been and will continue to be our primary focus as we navigate through these uncharted waters. Postponing tonight’s home opener was the correct decision to ensure we take a collective pause and try to properly grasp the totality of this situation.
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🌌 Stocktwits After-Hours: July 27, 2020
📉 Hedge Fund Fees in Free Fall Is the New Reality For a Humbled Industry
💊 AstraZeneca bets up to $6 billion on new Daiichi cancer drug
🚁 Prepare for the Air Pocket
🧗♂️ Reel Rock: Valley of the moon
🌆 Building New York’s $200M Apartment
💪 How to Make Your Arguments Stronger (Hint: Longer Is Not the Answer)
