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Seeking Alpha News Quiz
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It was a topsy-turvy week for Wall Street, though the three major averages managed to post solid gains. Market participants digested ongoing trade tensions between the U.S. and China, a government shutdown that shows no sign of ending, the start of the third quarter earnings season, and a scare over the health of regional banks.
Following a major sell-off last Friday, markets rebounded on Monday but were then pegged back on Tuesday amid escalating trade developments between the world’s two largest economies. President Donald Trump and his administration have taken issue with China’s strict rare earth export controls.
The focus on Tuesday and Wednesday shifted to quarterly results from major banks. Investors heard from JPMorgan (JPM), Goldman Sachs (GS), Wells Fargo (WFC), Citi (C), Bank of America (BAC), and Morgan Stanley (MS). The earnings season will pick up steam next week.
On Thursday, regional banks grabbed some of the spotlight. The disclosure of bad loans by Zions Bancorporation (ZION) and Western Alliance Bancorporation (WAL) sent ripples through the industry.
For the week, the S&P (SP500) gained +1.7%, while the blue-chip Dow (DJI) added +1.6%. The tech-heavy Nasdaq Composite (COMP:IND) advanced +2.1%. Read a preview of next week’s major events in Seeking Alpha’s Catalyst Watch.
Seeking Alpha’s Calls Of The Week
Palantir’s (PLTR) Unexpected International Government Tailwind.
USA Compression’s (USAC) 9% Yield Offers Golden Opportunity.
Hims & Hers (HIMS) Is Ramping Up A New Billion-Dollar Segment.
Nestlé’s (OTCPK:NSRGY) Strategy Update Is A Sign Of Change.
Mid-America Apartment (MAA): This Quality REIT Enters Buy Zone.
SoundHound (SOUN) Is A Hold As Pricing Power Remains Mixed.
CLM – It’s Time To Take A Fresh Look At The Cornerstone Funds.
Downgrading MP Materials (MP): Sell The China Trade War Rally.
I Would Sell Into Strength After J.B. Hunt’s (JBHT) Q3 Earnings.
XLE: A Perfect Storm That Could Cause The Bottom To Fall Out.
Weekly Movement
U.S. Indices
Dow +1.6% to 46,191. S&P 500 +1.7% to 6,664. Nasdaq +2.1% to 22,680. Russell 2000 +2.4% to 2,452. CBOE Volatility Index -4.1% to 20.78.
S&P 500 Sectors
Consumer Staples +2%. Utilities +1.5%. Financials flat. Telecom +3.6%. Healthcare +0.7%. Industrials +1.2%. Information Technology +2.1%. Materials +1%. Energy +0.9%. Consumer Discretionary +1.9%. Real Estate +3.4%.
World Indices
London -0.8% to 9,355. France +3.2% to 8,174. Germany -1.7% to 23,831. Japan -1.1% to 47,582. China -1.5% to 3,840. Hong Kong -4% to 25,247. India +1.8% to 83,952.
Commodities and Bonds
Crude Oil WTI -2.3% to $57.54/bbl. Gold +5.3% to $4,213.3/oz. Natural Gas -3.2% to 3.008. Ten-Year Bond Yield -0.2 bps to 4.009.
Forex and Cryptos
EUR/USD +0.28%. USD/JPY -0.36%. GBP/USD +0.49%. Bitcoin -3.7%. Litecoin -3.6%. Ethereum +2.8%. XRP -2.2%.
Top S&P 500 Gainers
Bunge Global SA (BG) +21%. J.B. Hunt Transport Services (JBHT) +20%. The Estee Lauder Companies (EL) +15%. ON Semiconductor (ON) +15%. Best Buy Co. (BBY) +13%.
Top S&P 500 Losers
F5 (FFIV) -9%. Marsh & McLennan (MMC) -8%. Brown & Brown (BRO) -8%. Kenvue (KVUE) -8%. Fastenal (FAST) -7%.
Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.
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