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D&D Note

D&D Note (8.6.2020) ~ Stock Stage Afternoon Rally On Hopes Of New Stimulus Relief Bill ~ #Stockmarket

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D&D Note (8.6.2020) ~ Stock Stage Afternoon Rally On Hopes Of New Stimulus Relief Bill ~

There is still not a new Stimulus Relief Bill however, Nancy Pelosi says there is progress on negotiations ahead of the self imposed Friday deadline.

This was enough hope that a bill will get passed to lift markets in the afternoon session.

If we don’t get a deal in Congress the markets will sell-off.

Once again tech led the rally with the NASDAQ closing above 11,000 for the first time.

Facebook gained 6.41% today after it launched its computer to TikTok.

Etsy price target raised to $68 at Morgan Stanley on accelerated profitability with an Underweight rating.

GoDaddy upgraded to Overweight rating at JPMorgan on gaining market share with a price target of $110.

WayFair upgraded to Equal Weight rating at Barclays and doubles price target to $321 on strong Q2 results.

DOW up 0.68%

S&P 500 up 0.64% (3349.16)

NASDAQ up 1.00%

VIX down -1.48% to 22.65

Oil down -0.52% to $41.97 a barrel.

Gold up 1.26% to $2075.20 an ounce.

The FED has reported that extending the $600 unemployment benefits would actually save American lives during the Coronavirus pandemic.

Over 1 million people are facing now a 3rd day without power across the N.Y. area due to Tropical Storm Isaias.

Global Virus cases: 18.98 million+

Global Virus deaths: 712,266+

U.S. Virus cases: 4.87 million+

U.S. Virus deaths: 159,931+

 

~ Dave James / Principal Trader and Market Strategist

About ddinvestments

Trading Partner for D&D Investments

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