although on a % basis we'll probably not break any notable records, but it is worth noting that on a absolute point basis, the largest one day drop in the dj30 is -1176 (closing basis) -1598 (intraday basis) those were both from feb. of 2018
Yeah as long as China doesn’t do anything too dramatically with their currency tonight then we could see a dead cat tomorrow. When will we get to hear from the FED speakers again? The market badly need their dovish comments
Small caps are now deep into correction territory, they have really underperformed when the big caps were making the ATHs
Investors Turning to Safe Havens Mon, Aug 5, 2019 As equities sell-off sharply, cyclical and trade-sensitive businesses, in particular, have fallen on hard times as investors rotate into defensives. While still down today, sectors like Utilities, Consumer Staples, and Real Estate have held up slightly better. In commodities, this same dynamic has played out. Copper, which is a bellwether for global manufacturing activity, has fallen sharply in response to trade tensions and concerns over global growth. Meanwhile, gold's safety status has led it to rally. In Monday's session, gold has been one of the few assets to rally, rising 1.84% from Friday's close. Looking at the ratio between the two commodities over the past few years shows just how much gold has been outperforming. While it has been rising slowly over the past year, the ratio has really ripped higher in the past week. In fact, over the past week, the relative strength of gold versus copper has seen its largest short-term move since February 2016. Similarly, the Japanese Yen which is commonly viewed as a safe haven currency has been surging versus the dollar. Over the past several years, USDJPY has been in consolidation. After bottoming this time of year in 2016, the cross made a series of higher lows and lower highs. Earlier this year, USDJPY failed to take out the downtrend line, continuing to move below the uptrend line. Now, over the past few sessions, the Yen has further appreciated as global trade tensions mount.
US Treasury designates China as a currency manipulator https://www.cnbc.com/2019/08/05/us-treasury-designates-china-as-a-currency-manipulator.html
It was already lower before the news but now SPY moving even lower after this headline, down well over 1%
China sets its yuan midpoint at stronger than 7 per dollar https://www.cnbc.com/2019/08/06/china-pboc-sets-yuan-midpoint-at-stronger-than-7-per-dollar.html Futures still way down but well off the lows from earlier.
On Trading Plus software system, the DJI is currently showing a sell signal. Almost all indicators as well as stocks of the world are affected by this index. On August 1, 2019, the DJI index was more than 280 points (equivalent to more than 1%). Along with that, Trading Plus system is giving sell signals. Signal DJI in the Trading Plus Investors pay attention to this signal. Especially large stocks such as MICROSOFT, APPLE, FACEBOOK, McDonalds, Intel, Nike, ... almost all stocks of large companies are falling sharply. Especially on July 31, 2019 Central Banks Federal Reserve (FED) announced no longer interest rates. And has reduced 0.25% daily interest rate during news announcement. This is the largest cause of this index falling.
New short watches for today/tomorrow: GCI AVP Edit: IAA short now adding K and SPWR to the watch list
This article is exactly my point. Wall Street is terrified about Trump’s tariffs, but it needs to cool off and look at the big picture https://www.cnbc.com/2019/08/05/wall-street-needs-to-chill-out-about-trumps-tariffs.html
Some light news Viacom adding Garfield to Nick portfolio Viacom has a definitive deal to take over global rights to cartoon cat Garfield, through an acquisition of rights holder Paws Inc. That includes intellectual property rights to the U.S. Acres franchise -- like Garfield, originating in a Jim Davis comic strip. Viacom's Nickelodeon will develop new consumer products and Garfield content for all platforms. A new animated TV series will be among the first developments, and Jim Davis will continue to produce the syndicated comic strip. Hope they don't mess up his voice!
i agree @OldFart also if we just take a step back for moment, and look at the bigger picture, what we're seeing right now is actually perfectly normal and healthy market action. august has notoriously been known to be a volatile month for markets. just look at recent years like 2011, 2015, 2016, this year, etc. it's no surprises really. this chart ain't mine but just thought it was worth a quick share in here. 5%+ market drawdowns from highs are pretty normal. fact is, since 1990 the average year has seen 3 separate 5% pullbacks a year. (we're on #2 now) we'll see if things escalate further to the downside, but this is pretty much on par of what we've seen over the past 20 years at least.
A decent oversold bounce so far. Safe havens like gold and bonds are up again though so it doesn’t feel like a risk on environment yet
SHAK soaring after earnings I have never eaten there so not sure if their food is good Have put stocks like SHAK and WING on my watchlist like forever but have never bought any share, I wish I did
SHAK is good eating, but expensive. Can eat a lot of quality burgers for cheaper, heck I even like the greasy ones. When I was in London for just a day, I did see a couple of stores over there (whereas I didn't see a single Burger King). I get the feeling they're the high end burger joint. Spoiler Didn't eat Shake Shack in London, went to BurgerFi instead
I've never ate there either. Probably over blown like Chipolte...that was the WORST burrito I've ever had. I have never been back. since I ate 1/4 of that burrito. I am surprised some Mexicans haven't sued them for making them look bad. I've been to locally owned Mexican restaurants...most are very good if they are actually owned by a Mexican.
I had SHAK once on the strip in Vegas but I can't remember if it was good, for obvious reason. I believe it's similar to a In-N-Out for you west-coasters. I have Chipotle at least once a week...
China sets the yuan midpoint at 6.9996 per dollar, slightly weaker than expected https://www.cnbc.com/2019/08/07/china-pboc-yuan-midpoint-on-7-august-2019.html Looks like futures moving lower on the news
