Smart Investing Today – Your Stock Market Market Digest
Earnings in full swing as Boeing, Coca-Cola report; Fed decision expected
U.S. stock index futures pointed to a slightly higher open on Wednesday, as investors parsed through another batch of major earnings.
Earnings won't matter if Q2 GDP disappoints investors
This week’s economic calendar will provide investors with two very important data points: the Federal Open Market Committee (FOMC) meeting on Tuesday and Wednesday that culminates with an announcement of monetary policy and the initial Q2 GDP reading on Friday. This week’s FOMC meeting and announcement are not expected to provide much in the way of excitement for the Street. The FOMC is widely expected to keep the federal funds target rate range unchanged at 1.00% to 1.25%.
A Stock That Is Like Switzerland And Another One With A Very Compelling Razor/Razor Blade Model
Andrew Peck: I manage the Baron Asset Fund, which is an open-ended mutual fund focused on investing in midcap growth stocks. We consider midcap growth to be stocks between roughly $3 billion and $30 billion in market cap at time of purchase. The fund’s weighted average market cap is around $15
Precious Metals Snapshot
- Gold Spot Price: $1,249.40 per ounce
- Silver Spot Price: $16.55 per ounce
- Platinum Spot Price: $925.00 per ounce
- Palladium Spot Price: $861.10 per ounce
Gold & Silver Spotlight
SPDR Gold Shares (GLD) share price is $118.92, which is 0.4% above its 50-day exponential moving average of $118.41
The RSI is 56.87 which suggests that SPDR Gold Shares (GLD) is technicallyneither overbought nor oversold.
Based on the share price being above its 5, 20 & 50 day exponential moving averages, the current trend is considered strongly bullish and GLD is experiencing selling pressure, which indicates risk of future bearish movement.
According to the MACD, SPDR Gold Shares (GLD) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Gold Shares (GLD) has on average historically risen by 0.2% based on the past 12 years of stock performance.
SPDR Gold Shares (GLD) has risen higherby an average 0.2%in 6 of those 12 years over the subsequent 4 week period,corresponding to a historical probability of 50%
SPDR Silver Shares (SLV) share price is $15.59, which is 0.7% below its 50-day exponential moving average of $15.70
The RSI is 53.24 which suggests that SPDR Silver Shares (SLV) is technicallyneither overbought nor oversold.
The current trend is relatively stagnant and SLV is experiencing selling pressure, which indicates risk of future bearish movement.
According to the MACD, SPDR Silver Shares (SLV) is currently on a Sell Signal.
Over the next 4 weeks, SPDR Silver Shares (SLV) has on average historically fallen by 0.7% based on the past 11 years of stock performance.
SPDR Silver Shares (SLV) has fallen lowerby an average 0.7%in 4 of those 11 years over the subsequent 4 week period,corresponding to a historical probability of 36%
Trending Stocks On The Move
Dillard’s Inc. (DDS) share price is $73.02, which is 11.5% above its 8-day exponential moving average of $65.51
Dillard’s Inc. (DDS) share price is $73.02, which is 39.7% above its 50-day exponential moving average of $52.29
According to the MACD, Dillard’s Inc. (DDS) is currently on a Buy Signal.
Washington Trust Bancorp Inc. (WASH) share price is $54, which is 4.7% above its 8-day exponential moving average of $51.56
Washington Trust Bancorp Inc. (WASH) share price is $54, which is 18% above its 50-day exponential moving average of $45.76
According to the MACD, Washington Trust Bancorp Inc. (WASH) is currently on a Buy Signal.
Newmont (NEM) share price is $36.24, which is 5.7% above its 8-day exponential moving average of $34.29
Newmont (NEM) share price is $36.24, which is 20.3% above its 50-day exponential moving average of $30.12
According to the MACD, Newmont (NEM) is currently on a Buy Signal.
The VIX figure is 9.43. This is 45.9% below the historic median figure of 17.44.
The CBOE Volatility Index® (VIX®) is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices. Historically, VIX levels above 50 correlate closely with periods of stock market panic while VIX levels below 20 are more typical during relatively calm periods in the market.
The 10,000 Foot Economic View
Total Market Cap / GDP
Chart for Total Market Cap / GDP
The ratio of the Total Market Capitalization (Wilshire 5000) to United States GDP is 1.3351. This is 50.8% above the historic median figure of 0.89.
The higher the Market Cap/GDP figure is relative to its median level, the higher the perceived risk in the market. Markets can remain overvalued for extended time periods.
The S&P Earnings is 94.59. This is 68.5% above the historic median figure of 56.14.
The higher the S&P Earnings are above their median level, the higher the perceived risk in the market.
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