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WSJ Opinion: Joe Biden's European Vacation

  • WSJ Opinion: Joe Biden's European Vacation WSJ Opinion: Joe Biden's European Vacation 5:00
    Countries Suspend Travel From U.K. in Response to New Covid-19 Strain Countries Suspend Travel From U.K. in Response to New Covid-19 Strain 1:37
3:22 a.m. July 27, 2021 - By Ciara Linnane
APi Group to acquire Chubb Fire and Security Business from Carrier for $3.1 billion APi Group Corp. said Tuesday it has agreed to acquire the Chubb Fire & Security Business from Carrier Global Corp. in a deal with an enterprise value of $3.1 billion. Chubb, which is headquartered in the U.K., has about 13,000 employees around the world and services more than 1.5 million customer sites in Europe, Asia Pacific and Canada." With the acquisition of Chubb, we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform," ApI Chief Executive Russ Becker said in a statement. "There is also significant opportunity to leverage Chubb's 200+ year history of providing statutorily required and route-based services through its internationally recognized brand." APi co-Chair James Lillie said the deal includes a combined $800 million investment in perpetual preferred equity from Blackstone and Viking Global Investors. Chubb had revenue of about $2.2 billion in the year through March 31. The deal is expected to close around year-end. APi shares rose 4.2% premarket and are up 12% in the year to date, while the S&P 500 has gained 17.7%.
4:28 a.m. July 7, 2021 - By Tomi Kilgore
Tilray completes first harvest of medical cannabis for distribution at German pharmaciesTilray Inc. said its Germany-based subsidiary Aphria RX GmbH has completed the first successful harvest of medical cannabis, which was cultivated in Germany, for distribution to pharmacies. Tilray's stock rose 0.4% in premarket trading. The Canada-based cannabis company said the harvest if the first cultivated at its indoor growing facility in Neumunster, Germany. The distribution was carried about by a distributor on behalf of the German Cannabis Agency. "Our harvest in Germany represents an important milestone in granting access to high-quality and trustworthy medical cannabis to patients and healthcare professionals in Germany," said Tilray's Chief Strategy Officer Denise Faltischek. Shares of Tilray, which is the world's largest cannabis company by revenue following the recent completion of its merger with Aphria, have soared 102.4% year to date through Tuesday, while the Cannabis ETF has rallied 33.1% and the S&P 500 has gained 15.6%.
3:14 a.m. June 18, 2021 - By Barbara Kollmeyer
Airline shares rise after EU lifts travel ban on Americans: reportShares of U.S. airlines rose in premarket trading on Friday after the European Union reportedly recommended the lifting of a nonessential travel ban for Americans across its member states. Governments made the decision on Friday to add the U.S. to a "white list" of countries, and each country will now be able to decide what kind of restrictions, if any, to place on U.S. visitors, and Bloomberg reported. The European Commission was reportedly pressured by countries heavily dependent on tourism, including Italy, Spain and Portugal, who are trying to save the summer season. EU officials had agreed on Wednesday to recommend lifting those bans in place since the pandemic last year, with that decision reportedly official on Friday. Shares of Delta Airlines and United Airlines were up around 1% each in premarket trading.
10:10 a.m. June 10, 2021 - By Tomi Kilgore
IM Cannabis stock rallies toward an 8-day win streak after bullish analyst callThe U.S.-listed shares of IM Cannabis Corp. rallied 3.2% in afternoon trading Thursday, putting them on track for an eighth straight gain, after a bullish call from Alliance Global Partners analyst Aaron Grey, saying the Israel-based cannabis company is an "international play" on legal cannabis. The stock, on track to close at a five-week high, has run up 36.86% during its win streak. Grey initiated coverage of the company with at buy rating and stock price target of $10, which is about 66% above current levels. He said he believes IM Cannabis is "particularly well positioned" to benefit from the growing Israeli medical cannabis market. "Additionally, we look for [IM Cannabis] to grow its business in the German medical market, with recent acquisitions positioning it in Canada's premium segment (and allowing for exports, in time)." The stock is rallying despite broad weakness in the cannabis sector, as the Cannabis ETF dropped 1.7% with 26 of 32 equity components losing ground. Year to date, IM Cannabis shares have slumped 22.9% while the Cannabis ETF has soared 42.0% and the S&P 500 has gained 13.0%.
3:51 a.m. June 7, 2021 - By Tomi Kilgore
Moderna submits for marketing approval of COVID-19 vaccine in adolescents in EuropeShares of Moderna Inc. rose 0.5% in premarket trading Monday, after the biotechnology company said it had submitted for conditional market approval (CMA) with the European Medicines Agency (EMA) for its COVID-19 vaccine in adolescents, ages 12 to less than 18. In May, the company said the Phase 2/3 study of its vaccine in adolescents met its primary immunogenicity endpoint. "We are encouraged that the Moderna COVID-19 vaccine was highly effective at preventing COVID-19 and SARS-CoV-2 infection in adolescents," said Chief Executive Stéphane Bancel. "We have filed for authorization with Health Canada and we will file for an Emergency Use Authorization with the U.S. FDA and regulatory agencies around the world for this important younger age population." Moderna's stock has soared 97.3% year to date through Friday, while the S&P 500 has gained 12.6%.
12:54 a.m. June 4, 2021 - By Callum Keown
Vivendi confirms talks with Ackman's SPAC over 10% stake in Universal Music GroupHedge-fund billionaire William Ackman's special purpose acquisition company (SPAC) is in talks with Vivendi to buy a 10% stake in Universal Music Group, the French media conglomerate . Vivendi said it had entered discussions with Ackman's Pershing Square Tontine Holdings and that the potential deal would give Universal Music an enterprise value of €35 billion ($42.4 billion). The French company plans to distribute 60% of Universal Music's share capital and list the company in Amsterdam, subject to shareholder approval next month. The Wall Street Journal that the two sides were nearing a deal, citing sources.
11:55 p.m. May 25, 2021 - By Barbara Kollmeyer
Johnson Matthey shares rise on Plug Power partnershipShares of Johnson Matthey [s:uk: jmat] rose 1% on Wednesday after the chemicals and sustainable-technologies company announced a partnership with U.S.-based Plug Power . "Under the memorandum of understanding, the companies will develop a roadmap to accelerate the joint development of high-performance electrolyser technology with improved durability, increased performance, and greater energy efficiency than systems available today," said a . Plug Power is a leading manufacturer of electrolysers used to manufacture green hydrogen.
5:58 a.m. May 19, 2021 - By Steve Goldstein
Leading crypto plays outside U.S. slump as bitcoin plungesLeading crypto plays outside the U.S. retreated as bitcoin and other cryptocurrencies plunged in value on Wednesday. In Canada, the big fallers were crypto exchange-traded products, with the 3iQ CoinShares Ether ETF Trust falling 27% and the CI Galaxy Ethereum ETF falling 25%. In London, Argo Blockchain lost 19% and Online Blockchain fell 13%. The Swiss-listed CoinShares Physical Litecoin dropped 50% and the 21Shares Ethereum ETP fell 40%.
4:32 a.m. May 19, 2021 - By Tonya Garcia
TJX earnings beat expectations though COVID-related store closures still weighTJX Cos. reported fiscal first-quarter net income of $533.9 million, or 44 cents per share, after a loss of $887.5 million, or 74 cents per share, last year. Sales of $10.09 billion were up from $4.41 billion last year. The FactSet consensus was for EPS of 31 cents and sales of $8.61 billion. All U.S. stores were operating during the quarter, but the off-price retailer still had locations shuttered in other regions for 14% of the days in the first quarter due to COVID-19. European locations were closed for 76% of the days, and Canadian stores were closed 25%. Still, it was a marked improvement from last year when stores around the world were shut for half the days. Three hundred locations around the globe are currently temporarily closed. Open-only comp store sales were up 16% in the most recent quarter. Open-only comp store sales only account for the days when stores were open during fiscal Q1 2022 and the same period in fiscal 2020. Due to the continued uncertainty of the pandemic, TJX did not provide guidance. However, the company said open-only comp store sales at the start of the second quarter have been similar to the first quarter. The TJX lineup includes TJ Maxx and HomeGoods. TJX stock slipped 0.9% in Wednesday premarket trading, but is up 4.2% for the year to date. The S&P 500 index has gained 9.9% for 2021 so far.
10:13 a.m. April 8, 2021 - By Emily Bary
Square to expand merchant business to IrelandSquare Inc. announced Thursday that it plans to bring its retailer-services business to Ireland. The company has opened a limited "early access" program and then intends to make its services more generally available in the country later this year. "We see today's launch as additive to the already-material International opportunity," wrote Barclays analyst Ramsey El-Assal in a note to clients after the announcement. He wrote earlier this year that while Square's international opportunities haven't been top-of-mind for investors in recent years, he expects that the company is "finally positioned correctly to more fully realize its potential in global markets, largely due to a significant acceleration in business investment outside the U.S." San Francisco-based Square currently offers seller services in Japan, Canada, Australia and the U.K., in addition to domestically. Square shares are up 4.7% in Thursday afternoon trading. They've gained about 350% over the past 12 months as the S&P 500 has added 54%.
3:51 a.m. March 30, 2021 - By Steve Goldstein
German regulator reportedly says nine have died from blood clots after taking AstraZeneca vaccineGermany's vaccine regulator said nine people have died from a rare blood clot in the brain after taking the AstraZeneca coronavirus vaccine, , citing a statement from the Paul Ehrlich Institute. Seven of the deaths were in women between 20 and 63 years old. Canada on Monday suspended the use of the Oxford-AstraZeneca coronavirus vaccine for people under age 55 on blood clot concerns.
4:57 a.m. March 23, 2021 - By Tonya Garcia
General Mills to sell its stake in Yoplait European operations, take ownership of Canadian Yoplait businessGeneral Mills Inc. said Tuesday that it has entered into a memorandum of understanding to sell its 51% stake in European Yoplait operations to French dairy cooperative Sodiaal. In exchange, the food company will take full ownership of the Canadian Yoplait business, acquiring Sodiaal's 49% ownership, and royalty-free use of the Yoplait and Liberté brands in the U.S. and Canada. The European Yoplait business that Sodiaal is taking had net sales of $740 million in 2020. General Mills' wholly-owned yogurt operations in the U.S. and Canada generated $1.4 billion in net sales in fiscal 2020. "[W]e're taking another step toward advancing our Accelerate strategy and further reshaping our portfolio to drive profitable growth for the long term," said General Mills Chief Executive Officer Jeff Harmening in a statement. "This transaction improves our growth profile, enhances our margins, and creates value for our shareholders. Additionally, it increases our focus on the brand platforms that have the greatest growth potential." The transaction is expected to close by the end of 2021. Other General Mills brands include Pillsbury, Betty Crocker, and Cinnamon Toast Crunch cereal, which was getting a lot of attention on Twitter Tuesday morning for what one customer . General Mills stock has gained 30% over the past year while the S&P 500 index is up 76.1% for the period.
8:18 a.m. March 18, 2021 - By Michael Ashbaugh
Charting market rotation: Dow industrials take flight amid surging Treasury yields Focus: 10-year yield continues to take flight, TNX, NDAQ, DHI, XPO, VNOMU.S. stocks are mixed early Thursday, vacillating as market rotation persists after the Federal Reserve’s Wednesday policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break atop the 33,000 mark, as the Nasdaq Composite vies to simply maintain a posture atop its 50-day moving average.
7:54 a.m. March 17, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests breakout ahead of Fed Focus: Metals & mining sector sustains break to six-year highs, Facebook’s stealth trendline breakout, XME, FB, SIMO, SBUX, ANU.S. stocks are mixed early Wednesday, vacillating ahead of the Federal Reserve’s policy statement, due out this afternoon.
8:53 a.m. March 16, 2021 - By Michael Ashbaugh
Charting rotational breakouts, S&P 500 rallies to record highs Focus: Transports digest March breakout, McDonald’s stages trendline breakout, IYT, MCD, VIRT, CROX, SAVETechnically speaking, the S&P 500 and Dow industrials have staged tandem breakouts — tagging all-time highs — though amid March price action that remains uneven, writes Michael Ashbaugh.
8:28 a.m. March 16, 2021 - By Michael Ashbaugh
Charting rotational breakouts, S&P 500 rallies to record highs Focus: Transports digest March breakout, McDonald’s stages trendline breakout, IYT, MCD, VIRT, CROX, SAVEBroadly speaking, the major U.S. benchmarks are acting well technically, though the March price action remains uneven. Amid the cross currents, the S&P 500 and Dow industrials have staged tandem breakouts — tagging all-time highs — while the Nasdaq Composite has sustained a break to firmer technical ground, though it remains far from record territory.
8:15 a.m. March 15, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 nails the range top Focus: Retail sector tags record close, General Motors reaches uncharted territory, XRT, GM, LKQ, ANTM, JWNU.S. stocks are mixed early Monday, vacillating ahead of the Federal Reserve’s mid-week policy meeting. Against this backdrop, the Dow Jones Industrial Average is digesting an aggressive break to record territory, while the S&P 500’s slow-motion breakout attempt remains underway.
8:32 a.m. March 12, 2021 - By Michael Ashbaugh
Bull case strengthens amid statistically unusual technical events Focus: Currency cross currents surface amid March volatility, FXE, UUP, WBA, IP, APA, VLOU.S. stocks are mixed early Friday, vacillating as Treasury yields vie to extend a strong March start. Against this backdrop, the Dow Jones Industrial Average has taken flight — rising amid a two standard deviation technical breakout — while the S&P 500 continues to challenge major resistance.
8:11 a.m. March 11, 2021 - By Michael Ashbaugh
Charting a stealth breakout attempt: S&P 500 rattles cage on record highs Focus: Europe tags three-year highs amid ECB actions, Boeing’s recovery attempt morphs to key breakout, IEV, BA, MMM, CME, WLKU.S. stocks are firmly higher early Thursday, rising after strong weekly jobs data and amid largely easing sovereign bond yields following the ECB’s policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break to all-time highs, while the S&P 500 has tagged a nominal record high early Thursday.
8:19 a.m. March 10, 2021 - By Michael Ashbaugh
Charting bullish follow-through: Nasdaq reclaims the breakdown point Focus: Homebuilders challenge record highs, XHB, LUV, CENX, PKG, MXU.S. stocks are higher early Wednesday, rising after a relatively tame reading on consumer price inflation eased concerns regarding a potentially overheating economy. Against this backdrop, the Dow Jones Industrial Average has tagged its latest all-time high, while perhaps more importantly (from a technical standpoint), the Nasdaq Composite has extended a rally atop key resistance.
9:00 a.m. March 9, 2021 - By Michael Ashbaugh
Charting a bullish reversal: Nasdaq ventures atop the breakdown point Focus: Airlines sustain decisive 2021 breakout, Materials challenge record highs, JETS, XLB, V, UA, ALK, BIGTechnically speaking, the S&P 500 and Dow industrials have retained a bullish intermediate-term bias — even amid recent volatility — while the Nasdaq Composite is vying to repair a more damaging March downdraft, writes Michael Ashbaugh.
8:35 a.m. March 9, 2021 - By Michael Ashbaugh
Charting a bullish reversal: Nasdaq ventures atop the breakdown point Focus: Airlines sustain decisive 2021 breakout, Materials challenge record highs, JETS, XLB, V, UA, ALK, BIGTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains uneven as a March divergence persists. On a headline basis, the S&P 500 and Dow industrials have retained a bullish intermediate-term bias — even amid recent volatility — while the Nasdaq Composite is vying Tuesday to repair a more damaging March downdraft.
8:50 a.m. March 5, 2021 - By Michael Ashbaugh
Charting a technical question mark, S&P 500 violates the 50-day average Focus: 10-year Treasury note yield continues to take flight, Sector leaders remain in divergence mode, TNX, XLF, IYT, QQQU.S. stocks are mixed early Friday, vacillating after a stronger-than-expected monthly jobs report. Against this backdrop, the S&P 500 has ventured under its 50-day moving average for the first time since November, though amid a downturn that gets low marks for bearish style. The prevailing bigger-picture technicals are not one-size-fits-all.
8:34 a.m. March 4, 2021 - By Michael Ashbaugh
Charting a volatile March start: S&P 500, Nasdaq reach key technical tests Focus: Charting a still bullish-leaning sector backdrop, IYT, XLF, QQQ, XLV, XLU, XLP, XLE, XLI, AMZNU.S. stocks are mixed early Thursday — though well off the session’s worst levels — vacillating amid a volatile March start. Against this backdrop, the S&P 500 is back for its latest crack at the 50-day moving average, currently 3,820, while the Nasdaq Composite has whipsawed Thursday at last-ditch support matching the 2020 peak (12,973).
8:08 a.m. March 3, 2021 - By Michael Ashbaugh
Market divergence persists, Nasdaq whipsaws at 50-day average Focus: Materials sector approaches record highs, XLB, AA, HES, SATS, BZHU.S. stocks are mixed early Wednesday, vacillating after a mixed batch of economic data. Against this backdrop, the major U.S. benchmarks remain in divergence mode, as the Nasdaq Composite continues to underperform amid relative strength elsewhere.
8:50 a.m. March 2, 2021 - By Michael Ashbaugh
Charting a bullish March start: S&P 500, Nasdaq maintain major support Focus: Industrials hold the breakout point, Intel’s stealth recovery attempt, Boeing builds on trendline breakout, XLI, INTC, BA, ETSY, MABroadly speaking, the major U.S. benchmarks are acting well technically despite persistently uneven price action in spots, writes Michael Ashbaugh.
8:29 a.m. March 2, 2021 - By Michael Ashbaugh
Charting a bullish March start: S&P 500, Nasdaq maintain major support Focus: Industrials hold the breakout point, Intel’s stealth recovery attempt, Boeing builds on trendline breakout, XLI, INTC, BA, ETSY, MABroadly speaking, the major U.S. benchmarks are acting well technically despite persistently uneven price action in spots. Against this backdrop, the S&P 500 has knifed from its 50-day moving average — registering its biggest daily gain since June — to punctuate a second consecutive late-month retest.
8:09 a.m. March 1, 2021 - By Michael Ashbaugh
Charting successful technical tests: S&P 500, Nasdaq knife from major support Focus: Gold’s technical breakdown, Starbucks tags record highs, GLD, SBUX, MXL, OII, GRPNU.S. stocks are firmly higher early Monday, rising after a strong batch of economic data and amid stabilizing Treasury yields. Against this backdrop, the S&P 500 and Nasdaq Composite have knifed from major support amid an unusually strong March start.
8:15 a.m. Feb. 26, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 holds 50-day average (again) Focus: 10-year yield takes flight, Charting a largely bullish sub-sector backdrop, Apple, Facebook and Amazon test key thresholds, TNX, IYT, XLF, QQQ, XLE, XLI, AAPL, FB, AMZNU.S. stocks are mixed early Friday, vacillating as a late-month market whipsaw persists. Against this backdrop, the major U.S. benchmarks remain in divergence mode — amid uneven price action — though the bigger-picture technical backdrop remains bullish, on balance.
8:10 a.m. Feb. 25, 2021 - By Michael Ashbaugh
Charting market cross currents: Late-month divergence persists Focus: 10-year yield matches S&P 500’s dividend yield, Financials take flight, TNX, XLF, F, ETN, ZG, HDU.S. stocks are lower early Thursday, pressured as persistently surging U.S. Treasury yields present a market headwind. Against this backdrop, the major U.S. benchmarks have largely weathered the recent market whipsaw, though amid increasingly uneven price action.
8:14 a.m. Feb. 24, 2021 - By Michael Ashbaugh
Charting market rotation: S&P 500 maintains the breakout point Focus: Nasdaq 100 holds 50-day average, Industrials tag record highs, Airlines take flight, QQQ, XLI, JETS, UAL, ORCL, WIXU.S. stocks are higher early Wednesday, rising in the wake of a pronounced market whipsaw. Against this backdrop, the S&P 500 and Dow industrials have maintained major support, rising amid rotational, and still largely bullish, late-month price action.
4:06 a.m. Feb. 24, 2021 - By Tonya Garcia
TJX profit and sales take a hit after COVID-19-related store closuresTJX Cos. shares fell 2.7% in Wednesday premarket trading after the off-price retailer reported fourth-quarter earnings and sales that missed expectations. Net income totaled $325.5 million, or 27 cents per share, down from $984.8 million, or 81 cents per share last year. Sales totaled $10.94 billion, down from $12.21 billion last year. The FactSet consensus was for EPS of 62 cents and sales of $11.48 billion. TJX, whose portfolio of stores includes TJ Maxx and Marshalls, says Q4 sales took a $950 million to $1.05 billion hit due to COVID-19-related store closures in Canada and Europe. Earnings per share were reduced by 18 cents to 21 cents. Stores in Canada were closed for about 32% of the fourth quarter, and European stores were closed 63%. There are currently about 690 stores closed due to the pandemic, most in Europe where the company expects stores to be closed for 67% of the first quarter. Due to the ongoing uncertainty from the coronavirus, TJX did not provide financial guidance. TJX stock has gained 13.7% over the past year while the S&P 500 index is up 20.3% for the period.
8:40 a.m. Feb. 23, 2021 - By Michael Ashbaugh
Charting a market divergence, Nasdaq violates the breakout point Focus: Energy and Metals & Mining sectors take flight, Apple ventures under major support, XLE, XME, AAPL, NUE, SIGTechnically speaking, the major U.S. benchmarks have extended a downturn from recent record highs, pressured amid increasingly uneven price action, writes Michael Ashbaugh.
8:10 a.m. Feb. 23, 2021 - By Michael Ashbaugh
Charting a market divergence, Nasdaq violates the breakout point Focus: Energy and Metals & Mining sectors take flight, Apple ventures under major support, XLE, XME, AAPL, NUE, SIGTechnically speaking, the major U.S. benchmarks have extended a downturn from recent record highs, pressured amid increasingly uneven late-month price action.
8:17 a.m. Feb. 22, 2021 - By Michael Ashbaugh
Bull trend pauses: S&P 500 traverses the range Focus: Japan sustains February break to record territory, EWJ, NTAP, SCCO, ODFL, KSSU.S. stocks are mixed early Monday, vacillating as tech stocks turn lower, pressured at least partly amid recently surging Treasury yields. Against this backdrop, the S&P 500 and Dow industrials have maintained bullish holding patterns, asserting trading ranges underpinned by familiar support.
8:03 a.m. Feb. 19, 2021 - By Michael Ashbaugh
Charting successful technical tests, U.S. benchmarks nail first support Focus: Biotech sector pulls in toward key support, Charting Apple’s bull-bear debate, XBI, AAPL, STX, GOOS, WMTU.S. stocks are higher early Friday, rising amid optimism over stimulus-package prospects. Against this backdrop, each big three U.S. benchmark has registered a bullish reversal from well-defined support. The S&P 500 has nailed its range bottom (3,885) while the Nasdaq Composite and Dow industrials have rallied from their breakout points.
2:11 a.m. Jan. 26, 2021 - By Tomi Kilgore
Tilray's stock surges after being selected to supply cannabis to France's ANSM for experimentationShares of Tilray Inc. surged 3.6% in premarket trading Tuesday, after the Canada-based cannabis company said it has been selected by France's National Agency for the Safety of Medicines and Health Products (ANSM) to provide medical cannabis products for experimentation. Tilray said it will supply the medical cannabis, starting in the first quarter of 2021, for the duration of the French experiment, which is expected to last for 18 to 24 months. The cannabis will be exported to France from Tilray's facility in Portugal. "Today's announcement marks another milestone for Tilray as we expand operations in Europe," said Tilray Chief Executive Brendan Kennedy. "We are proud to be able to offer access to a variety of high-quality, pharmaceutical-grade medical cannabis products to the ANSM while supporting patients in need in France." Tilray's stock has soared 193.3% over the past three months through Monday, while the ETFMG Alternative Harvest ETF has rallied 68.5% and the S&P 500 has gained 13.4%.
8:25 a.m. Jan. 22, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 retests the breakout point Focus: Solar sector sustains 2021 breakout, Apple tags record close amid stealth breakout attempt, TAN, AAPL, MGA, DE, MDCU.S. stocks are lower early Friday — though off the session’s worst levels — pressured amid virus concerns, and a not well-received batch of influential earnings reports. Against this backdrop, the S&P 500 and Nasdaq Composite continue to digest respectable mid-week rallies to record territory, against an otherwise bullish bigger-picture backdrop.
8:55 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, though the initial downturn has inflicted limited damage, writes Michael Ashbaugh.
8:21 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, pulling in respectably from recent record highs. Against this backdrop, the S&P 500 has reversed to its former December range, though amid a downturn that has inflicted limited damage in the broad sweep.
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