Schaeffer's Top Stock Picks for '25

Boeing Stock, Economic Data Prop Up Major Indexes

Pending home sales rose a record 44.3%

Deputy Editor
Jun 29, 2020 at 4:29 PM
facebook X logo linkedin


After ending last week in dramatic fashion, stocks notched wins for the day thanks to promising data from the National Association of Realtors which showed pending home sales grew 44.3% in May. The Dow in particular rose 580 points, after Boeing (BA) surged amid news that the company began certification flights for the Boeing 737 Max -- an essential move after 2019 saw two crashes kill nearly 350 people. Additionally, FAANG, travel, and retail stocks reported gains, which pushed the Nasdaq and S&P 500 indexes into the green. Still, investors are keeping their eyes on the increase of coronavirus cases around the world, especially in the U.S., where more than 20% of all new cases have occurred. 

  • An FDA rejection sank this pharmaceutical stock
  • Inovio stock was ambushed by options traders.
  • Plus, Gildead set its coronavirus treatment price; DAL plans to furlough pilots; and NVS had an application pulled.

The Dow Jones Industrial Average (DJI - 25,595.80) rose 500.3 points, or 2.3% for the day. Boeing was, unsurprisingly, today's winner, finishing 14.4% higher. Cisco Systems (CSCO), on the other hand, fell from grace with a 0.4% loss.

Meanwhile, the S&P 500 Index (SPX - 3,053.24) gained 44.2 points, or 1.5%, and the Nasdaq Composite (IXIC - 9,874.15) added 116.9 points, or 1.2%.

Meanwhile, the Cboe Volatility Index (VIX - 31.78) lost 3 points, or 8.5%, for the day.

Closing Summary June 29

 

NYSE Nasdaq June 29

 

5 Items on Our Radar Today

  1. Big names like Verizon (VZ) and Starbucks (SBUX) are part of a Facebook advertising boycott, and the movement is gaining steam. Analysts speculate this could influence more companies to do the same. (CNBC)
  2. Dr. Anthony Fauci said that herd immunity for COVID-19 was unlikely, due to the alarming amount of anti-vaccine and anti-science populations in the U.S. Another factor could be a vaccine that only has a 70-75% success rate. (MarketWatch)
  3. GILD rose after announcing its COVID-19 treatment's price.
  4. Delta stock took flight after pilot furlough announcement.
  5. Novartis stock rose despite one of its applications being pulled


There were no notable earnings today.

Unusual Options Acitivty June 29

Data courtesy of Trade-Alert

Oil and Gold Rise Alongside COVID-19 Cases

Improving economic data out of Asia and Europef helped oil prices rise to begin the week. Still, investors are keeping their eyes on the spikes in new COVID-19 infections around the globe. As a result, August-dated crude rose $1.21, or 3.1%, to settle at $39.70 per barrel for the day.

Gold prices changed little from last week, on track for their third straight monthly gain and largest quarterly rise in more than four years despite threats of economic derailment at the hands of the coronavirus pandemic. At last check, gold for August delivery added 90 cents, or 0.05%, to settle at $1,781.20 per ounce on the day.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));