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Do not go back. Stocks jostle after the S & P 500 and Dow Jones Industrial Average rose to new heights on Thursday. President Donald Trump could have raised crude oil prices to $ 80, but they will not keep them there. The Berkshire Hathaway and Potty stocks have one thing in common: momentum, but only one of them still seems undervalued. In the intraday update of today, we …
• … delays the control of S & P 3000 caps,
• … explain how President Trump took advantage of crude oil;
• … and note that the last disassembly of iPhone lowers the stock price of Intel.
Enjoy this rally while it lasts
Orpheus almost brought back his beloved wife of death, but his doubt brought her back to Hades. Similarly, key benchmarks continue to recover after a good performance on Thursday, but a slight doubt could make them fall. the Dow Jones Industrial Average increased by 110 points or 0.4% to 26,765.45, the S & P 500 increased 0.2% to 2937.88 and the Nasdaq Composite is about flat at 8026.64.
Consumer Staples and Commodities rose 1% Thursday on a weaker dollar, one of two conditions Tom Essaye, author of Sevens ReportWithout the second condition – a trade agreement between the United States and China – Essaye will not fail to order S & P 3000 caps.
"First, we need to see the dollar stay at that level," he says, but the greenback could strengthen as the flash PMI in Europe was not very strong. If the economic data of the region lose momentum, the dollar could recover. Essaye would also like his second condition to be fulfilled. Until then, the S & P 500 could make some of its recent gains.
President Donald Trump Thursday morning, before the meeting of OPEC on the expected crude production this weekend. "… The monopoly of OPEC must bring down prices now! Much to his regret, Brent prices climbed to about $ 80 a barrel, but fell back on Friday.
If Trump wanted to make sure that gasoline prices at the pump stayed low before the mid-term elections, it would have been totally useless to try to tweak the prices. "While Brent prices are reaching multi-year highs, retail gasoline prices in the US are close to normal seasonal levels and 15 cents per gallon over summer highs," says Michael Tran, strategist in raw materials at RBC Capital Markets.
In addition, Trump suffers from a seasonal weakness, as gas prices tend to weaken during the cooler seasons. According to Tran, between current gas prices and seasonality, average pump prices could fall to $ 2.60 a gallon in November.
Anxiety tends to help achieve unwanted prophecies.
Movers at noon
Diamond OffshoreDrilling (DO) was up 3% to $ 18.96 after the acquisition of HSBC Securities by Buy.
FedEx (FDX) is up 0.6% to $ 248.17 after Berenberg initiated a cover with a Buy rating.
IAC / InterActiveCorp.(IAC) is down 0.7% to $ 213.62 after Guggenheim has downgraded it to a standstill.
Intel(INTC) is down 0.6% to $ 46.93 and Qualcomm(QCOM) is down 1% to 73.86 dollars after a disassembly of the iPhone X Max did not show the expected components of the companies.
Under protection(UAA) is up 2.6% to $ 20.51 after JPMorgan put it at the neutral level. –Teresa Rivas
Write to Crystal Kim at [email protected]
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