WARNING: Degenerate Gamblers Have Taken Control of the Stock MarketThe market "pros" believe stocks are way too expensive right now. Meanwhile, the true gamblers who flocked to Las Vegas this spring are going bust. The big three hotel and casino stocks— Wynn Resorts(NASDAQ:WYNN), Las Vegas Sands(NYSE:LVS) and MGM Resorts(NYSE:MGM)—beat earnings expectations last week. Las Vegas Sands is up a little less than 5% over the same timeframe. Big conventions and shows are also helping Las Vegas tourism set records for the past three years, according to Bloomberg.
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![Stock Market News for May 02, 2017]()
A total of around 6 billion facebook/" target="_blank">shares were traded on Monday, lower than the last 20-session average of 6.5 billion shares. Meanwhile, the PCE price index declined 0.2%, marking its first decline in more than a year. The ISM manufacturing index declined to 54.8 in April against the consensus estimate of 56.4. The upside is driven by impressive stock market performance by Apple AAPL and other technology stocks. Shares of Alphabet Inc GOOGL advanced 0.9% following the release of its first quarter fiscal 2017 financial results.
Nasdaq Streaks of 7 Record HighsTech stocks have been sending up signals reminiscent of the dot-com boom of the late 1990s. In fact, the COMP was higher 70% of the time one month after a streak of seven record highs, compared to 60.4% anytime. Following the previous signals, the COMP went on to average a three-month return of 3.37% -- bigger than its anytime three-month return of 2.82%, going back to 1972. (And for what it's worth, stocks also tend to perform well in the month of May during the first year of a presidential cycle .) To start, the tech-rich PowerShares QQQ Trust ( QQQ just closed above its upper Bollinger Band for the sixth straight time -- something the exchange-traded fund (ETF) has done just once before, in 1999.
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collected by :Jack Luxor
according to
Stock Market News for May 02, 2017
A total of around 6 billion facebook/" target="_blank">shares were traded on Monday, lower than the last 20-session average of 6.5 billion shares. Meanwhile, the PCE price index declined 0.2%, marking its first decline in more than a year. The ISM manufacturing index declined to 54.8 in April against the consensus estimate of 56.4. The upside is driven by impressive stock market performance by Apple AAPL and other technology stocks. Shares of Alphabet Inc GOOGL advanced 0.9% following the release of its first quarter fiscal 2017 financial results.
Nasdaq Streaks of 7 Record HighsTech stocks have been sending up signals reminiscent of the dot-com boom of the late 1990s. In fact, the COMP was higher 70% of the time one month after a streak of seven record highs, compared to 60.4% anytime. Following the previous signals, the COMP went on to average a three-month return of 3.37% -- bigger than its anytime three-month return of 2.82%, going back to 1972. (And for what it's worth, stocks also tend to perform well in the month of May during the first year of a presidential cycle .) To start, the tech-rich PowerShares QQQ Trust ( QQQ just closed above its upper Bollinger Band for the sixth straight time -- something the exchange-traded fund (ETF) has done just once before, in 1999.
read more visit us Money
collected by :Jack Luxor
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