Q2 STOCKS TO BUY

Stock Futures Set to Soar Again

Investors are buying the news that a coronavirus slowdown could be imminent

Managing Editor
Apr 7, 2020 at 9:21 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures look ready to build off yesterday's resounding rally, up more than 700 points above fair value this morning. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also soaring, as more signs point to a possible global slowdown of the coronavirus pandemic. New COVID-19 cases in hard-hit Spain and Italy have fallen off, while stateside, investors are buying the news of a rumored Phase 4 stimulus package within the next month. 

Continue reading for more on today's market, including: 

  • Schaeffer's Senior V.P. of Research Todd Salamone on the importance of a risk mitigation map for investors.
  • History says this China tech stock could struggle soon. 
  • Plus, LOW upgraded; cruise line up on Saudi stake; and MMM resolves White House spat.

Stock Futures Chart April 7

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.12 million call contracts traded on Monday, and 768,436 put contracts. The single-session equity put/call ratio dropped to 0.69, and the 21-day moving average slid to 0.84.
  2. Lowe's Companies, Inc. (NYSE:LOW) stock is up 4.5% ahead of the bell, after Loop Capital upgraded the home improvement retailer to "buy" from "hold" based on the company's attractive valuation. Elsewhere, Lowe's announced it would be closing its stores on Easter Sunday. LOW stock has bounced off its March 19 five-year low of $60, and is on track to face off with its 30-day moving average today.
  3. Carnival Corp (NYSE:CCL) stock is a big winner this morning, up 17% before the open, after Saudi Arabia's sovereign wealth fund disclosed a 8.2% stake in the company. CCL is staring at an 80% year-to-date deficit going into today, and fell to a record low of $7.80 last Thursday.
  4. The shares of 3M Co (NYSE: MMM) are up 4.9% in electronic trading, after the industrial manufacturer agreed to produce nearly 167 million medical masks for the government by July. The agreement resolves last week's conflict with the Trump Administration, and has MMM heading for its highest close in nearly a month. 
  5. The JOLTS report and consumer credit data on tap today. Meanwhile, Fluor (FLR), Levi Strauss (LEVI), and Revlon (REV) will all step into the earnings confessional.

Buzz Chart April 7

Asian, European Stocks Join Global Rally

Optimism over the slowing coronavirus pushed Asian markets way higher on Tuesday, as South Korea posted less than 50 new cases, and China announced no new coronavirus-related deaths as of April 6. China’s Shanghai Composite and Hong Kong’s Hang Seng both tacked on 2.1%. The Nikkei in Japan wasn’t far behind with a 2% pop, buoyed by plans for a 39 trillion yen ($357 billion) stimulus package in response to COVID-19 economic fallout. Meanwhile, South Korea’s Kospi added 1.8%. 

This hopefulness is giving European markets a big boost, too. At midday, the French CAC 40 is 2.6% higher, the German DAX is up 3.6%. Rounding out the region, the London FTSE 100 is up 2.7%, even amid news that U.K. Prime Minister Boris Johnson has been moved to intensive care as his coronavirus symptoms worsen. 

 
 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter