Gold Prices Fall, Treasury Yields Increase as Dollar Strengthens

28 minutes ago

Gold futures fell sharply on Wednesday as news of Donald Trump’s election victory sent bond yields, the US dollar and stocks strong.

Gold futures fell as much as 3% to $2,673 per ounce. The precious metal has now lost about 5% of its value since its peak. All-time high $2,805 per troy ounce a week ago.

gold enjoyed year-long rally It is due to increased central bank purchases, geopolitical tension and falling interest rates. Expectations that these trends will continue have led many analysts to predict further increases in the price of gold, as predicted by Goldman Sachs. gold will reach $3,000 per head troy ounce That rise has reversed amid concerns that Trump’s proposed tariffs and immigration could reignite inflation.

Adam Turnquist, chief technical strategist at LPL Financial, said higher growth and inflation Expectations sent bond yields and the dollar higher on Wednesday. This makes gold, which has no return, less attractive to investors.

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–Lyle Niedens

What Does Wall Street Think About Qualcomm Ahead of Earnings Report?

2 hours ago

Qualcomm (QCOM) will report its fiscal fourth-quarter earnings after market close on Wednesday, and analysts expect increases in revenue and profit compared to the same period last year. However, they think revenue growth will slow next year due to slowing smartphone and computer sales.

Analysts are a bit optimistic about this hardware and software manufacturer The stock has 12 analysts tracked by Visible Alpha split between four “buys,” seven “holds” and one “sell.” rating. Qualcomm’s average price target The $198.08 level indicates that analysts think the stock has enough room to rise in the coming months.

Analysts predict Qualcomm’s fourth quarter revenues It increased by approximately 15% compared to the same period last year, reaching 9.9 billion dollars. profit It is expected to rise over 70% to $2.58 billion, according to estimates compiled by Visible Alpha.

Qualcomm shares rose nearly 4% to about $172 on Wednesday; That was about 19% above where it started the year but below its June high of $230.

–Aaron McDade

CVS Shares Soar on Earnings, Leadership Change

3 hours 4 minutes ago

CVS Health (CVS) shares rose after the pharmacy chain and healthcare company posted better-than-expected results and made leadership changes as new CEO David Joyner moved to shake up the struggling firm.

The company reported that its earnings per share in the third quarter were $1.09, while its revenue increased by 6.3% to $95.4 billion.

Revenue was boosted by the Pharmacy and Healthcare division, which saw sales increase 12% to $32.4 billion, helped by higher prescription volume. Sales in the Healthcare Benefits segment increased approximately 25% to $33 billion, driven by growth in the Medicare and commercial product groups.

The company said Healthcare unit revenue fell 5.9% due to the loss of a large customer and ongoing pharmacy customer price improvements. Reuters In January, Tyson Foods (TSN) replaced CVS Health with Rightway to manage employee drug benefits.

Joyner takes over as CEO last month. CVS said in a separate statement that the former UnitedHealth Group (UNH) executive Steve Nelson will become president of Aetna’s insurance arm, and current pharmacy chief and president of the Pharma & Consumer Healthcare division Prem Shah will become group president

CVS shares are up 10% in recent trading but are still down more than 20% since the beginning of the year.

–Bill McColl

Small Stocks Soar After Trump Victory

3 hours 42 minutes ago

Small-cap stocks rose sharply on Wednesday, outperforming major market indexes following Donald Trump’s victory in the presidential election.

Russell 2000 (ROUTE) index of small companies recently outperformed, rising by more than 4% gains seen on the S&P 500, Dow and Nasdaq. Many Russell companies posted big gains; About a dozen companies have recently posted gains of 20% or more.

Both the Russell and the benchmark S&P are up this year, but today’s move narrows the S&P’s outperformance. At the same time, the Russell is at its highest levels since the beginning of the year and levels last seen in late 2021.

The economic environment is generally viewed as favoring smaller companies that are more responsive to broader conditions. The Federal Reserve is also expected to take a step in this direction. interest rate reduction again on Thursday; Low interest rates are generally understood to benefit companies that typically carry more debt, such as small-capitalization companies.

Some analysts also suggested that a Republican win could mean lower corporate tax rates, which could particularly benefit smaller firms.

–David Marino-Nachison

Solar Energy Shares Fall After Trump’s Election Victory

4 hours 16 minutes ago

Various solar stocks, including First Solar (FLR) and Execution Energy (ENPH) fell in early trading Wednesday after the presidential election was decided in favor of former President Donald Trump.

SunRun (TO RUN), Plug Power (RECEIPT) and SolarEdge Technologies (SEDG) shares in Invesco Solar (skin color) exchange-traded fund (ETF) down almost 11%.

Positions on energy policies in the 16-page campaign platform listed on Trump’s website include increasing oil, natural gas and coal production, while reversing the Biden administration’s policies supporting renewable energy.

Trump’s ability to overturn legislation Inflation Reduction ActWhich studies have shown That pace of accelerating the reduction of carbon dioxide emissions will depend on how Republicans perform in the remaining races and has yet to be decided in the House of Representatives. The party gained a slim majority in the Senate compared to previously called races. Associated Press.

–Aaron McDade

Super Micro Computer Levels to Watch as Stocks Drop Again

5 hours 7 minutes ago

Shares on Super Micro Computer (SMCI) fell in early trading Wednesday after the troubled server maker reported preliminary financial results late yesterday that came in below Wall Street expectations and said it could not predict when it would file its report. delayed 2024 annual report.

The stock fell below a falling wedge pattern late last month to its highest weekly volume since late August, suggesting selling sentiment is behind the move.

Traders should watch for key support levels near $23, $12, and $10 on the chart of Super Micro Computer and watch for a key resistance area near $30.

The stock was down 23% at $21.38 in recent trading.

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–Timothy Smith

What Does Donald Trump’s Victory Mean for the Economy?

6 hours 22 minutes ago

Former president Donald Trump’s victory in the 2024 presidential election puts the US economy on a path of higher tariffs, lower taxes and deregulation.

His victory will have immediate and long-term consequences for the US economy. In the short term, the US avoids uncertainty and disruption from delayed results may have caused.

In the long run, Trump will have a chance to implement the vision laid out during his campaign, but his ability to do so will depend on which party controls the House of Representatives, and many of those races have not yet been called.

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–Diccon Hyatt

Tesla Jumps When Musk Seen Winning Under Trump Presidency

6 hours 45 minutes ago

Shares of Tesla (TSLA) rose 12% in final premarket trading on Wednesday as investors bet that the electric vehicle (EV) maker led by Elon Musk would be the biggest beneficiary of Donald Trump’s return to the presidency.

Tesla CEO Musk, an outspoken Trump supporter, is expected to be a leading adviser to the president.

But Tesla’s prospects under Trump’s presidency are less clear. Trump is not a supporter of clean energy, but Tesla is benefited from the Inflation Reduction Act of 2022It was signed by President Joe Biden. Tesla also gained from 100% tariffs imposed by Biden on Chinese EVs, protecting the EV maker from car attacks from the Asian country; This is an important market for the company.

Wedbush analyst Dan Ives has an “outperform” rating on the electric vehicle maker’s shares. sunday said It is stated that the possibility of a trade war with China may put pressure on the company. But Ives noted that Trump’s presidency could create a more welcoming environment for the company’s autonomy initiatives.

–Nisha Gopalan

Trump Media Shares Soar in Premarket Trade

8 hours ago

Shares of Trump Media and Technology Group (DJT) jumped in premarket trading as former President Donald Trump looks set to seek re-election to the White House.

Shares of the social media company were recently trading around $45; This indicates an open of 30% above Tuesday’s close. This move will extend the bounce below $12, the September low. big fluctuations in the value of the company.

The company, which owns the Truth Social platform, announced its latest quarterly financial results last night, reporting revenue of $1 million in the third quarter and a net loss of just over $19 million. Executives mentioned in the press release a “legion of retail investors” who own the shares.

CEO Devin Nunes said in a statement that the company “continues to explore additional growth opportunities, such as potential mergers and acquisitions with companies that will leverage Trump Media technology and branding, including in the fintech space.”

Trump owns the majority of the company’s shares.

–David Marino-Nachison

Major Indices Ready to Rise on Wednesday Open

8 hours 32 minutes ago

Futures tied to the Dow Jones Industrial Average rose 3%.

S&P 500 futures rose 2.3 percent.

Nasdaq 100 futures rose 1.7 percent.