On Tuesday, stocks closed mixed with a preference for small-caps as they took gains in some blue chips and big-cap stocks.
Profit-taking started immediately, with a divergence of better-quality stocks being sold. Banks and other financials fell 1.4% at the close, while technology gained 0.9% and consumer discretionary rose 0.5%. Eight of the eleven sectors of the 500 lost ground. From the election until Monday most investing was based on the expectations that the new administration will increase fiscal spending and lower corporate tax rates. The goal is to raise interest rates, inflation and promote growth.
Yesterday buying slowed slightly, but floor traders said that consolidations are a good sign and that the “reflation trade” will probably resume again. The chief investment officer at Wells Fargo Private Bank was quoted by The Wall Street Journal who said “there’s a level of optimism I haven’t seen in a while.”
Crude oil WTI fell 0.7% at $45.56 per barrel due to an EIA report that crude oil supplies increased by 5.27 million barrels instead of an estimate of 1.48 million.
Top Blue Chip Stocks For 2018: Wausau Paper Corp.(WPP)
- [By ]
Embattled WPP Group (WPP) CEO Martin Sorrell, no stranger to business news channels and fat annual compensation checks, has quit as CEO. Below is a statement from Sorrell obtained by TheStreet.
- [By Lisa Levin] Gainers
Bio-Path Holdings, Inc. (NASDAQ: BPTH) shares rose 29.5 percent to $2.15 in pre-market trading after reporting pre-clinical data demonstrating potential of Prexigebersen presented at the annual American Association for Cancer Research meeting in Chicago.
Sientra, Inc. (NASDAQ: SIEN) rose 16.7 percent to $12.90 in pre-market trading following the announcement of FDA approval for PMA supplement.
Aqua Metals, Inc. (NASDAQ: AQMS) rose 13.5 percent to $2.95 in pre-market trading after climbing 14.04 percent on Wednesday.
Harmony Gold Mining Company Limited (NYSE: HMY) rose 5.6 percent to $2.09 in pre-market trading.
Alcoa Corporation (NYSE: AA) shares rose 5 percent to $62.32 in pre-market trading after the company reported better-than-expected earnings for its first quarter and raised its FY18 adjusted EBITDA outlook.
Gold Fields Limited (ADR) (NYSE: GFI) shares rose 4.9 percent to $4.11 in pre-market trading after gaining 1.03 percent on Wednesday.
ABB Ltd (NYSE: ABB) shares rose 4.3 percent to $24.47 in pre-market trading after reporting Q1 results.
WPP plc (NYSE: WPP) rose 4.2 percent to $82.99 in pre-market trading.
American Express Company (NYSE: AXP) rose 4 percent to $98.95 in pre-market trading after the company reported stronger-than-expected profit for its first quarter.
HSBC Holdings plc (NYSE: HSEA) rose 3.4 percent to $27.30 in pre-market trading.
Shire plc (NASDAQ: SHPG) rose 3.4 percent to $167.95 in pre-market trading. Takada offered to buy Shire at £46.50 per share, Reuters reported.
Vipshop Holdings Limited (NYSE: VIPS) rose 3.1 percent to $16.43 in pre-market trading.
iRobot Corporation (NASDAQ: IRBT) shares rose 3 percent to $63.66 in the pre-market trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
Top Blue Chip Stocks For 2018: DSP Group Inc.(DSPG)
- [By Lisa Levin]
Technology shares rose by 2 percent in the US market on Friday. Top gainers in the sector included Fabrinet (NYSE: FN), and DSP Group, Inc. (NASDAQ: DSPG).
Top Blue Chip Stocks For 2018: Sandstorm Gold Ltd(SAND )
- [By Rich Duprey]
Sandstorm Gold (NYSEMKT:SAND) has outperformed the precious metal itself over the past year, with shares rising 35% year to date. Last month it reported third-quarter profits of $7 million, a big U-turn from 2015, when it suffered losses of $5.5 million. In fact, its entire operation was doing better with greater production: lower cash costs, but higher cash margins; and greater operating cash flows, all of which allowed it to pay down its revolving credit facility. That means it has no bank debt and its entire $110 million revolving credit facility is available to make acquisitions.
Top Blue Chip Stocks For 2018: ENERGY TRANSFER PARTNERS(ETP)
- [By ]
Our Best Shot At Easy Income
While the entire sector could be a “buy,” Energy Transfer Partners LP (NYSE: ETP) is of particular interest. The chart below shows the shares fell sharply when the FERC ruling was released and continued drifting lower before starting to recover.
- [By ]
Plenty Of Upside
After the scale of the tax threat (or lack thereof) was made clear, buyers began to cautiously tiptoe back in. But there is still more upside in this sector than I have seen in the past few years. Take MMP, which is trading around $60 per share. Analysts have a consensus price target of $77 which would imply appreciation of more than 28%. Energy Transfer Partners (NYSE: ETP) is looking at upside of more than 50%.
- [By Money Morning News Team]
Energy Transfer Partners LP (NYSE: ETP) owns Dakota Access. Its stock has jumped 9% since the executive order was signed.
And these oil-friendly policies are coming to the rest of the industry.