Joel Elconin joined me today to assess the overall health of the Us markets after the first two day this week brought all the bears out saying that this month would be big down month to end the year. We address the move up in volatility and some big swings in Biotech stocks this week.
Joel Elconin kicks off today with comments on a few random sectors and news events that were key for this week. We start with the cannabis stocks bouncing and where investors should be looking. Then move on the the launch of Disney+ and what it means for the overall streaming services sector. Finally we wrap up the call with the news yesterday from Charles Shwab and TD Ameritrade on a potential merger of the two largest brokerage houses.
Joel Elconin joins me today for a recap of the recent Q3 earnings season. There was a lot of worries coming into earnings as people thought that the trade wars and tariffs would impact earnings and forward guidance. We have seen better earnings and better forward guidance which is all contributing to the rise in equity markets. The big picture is key and for right now it is looking a bit better.
Joel Elconin, Co-Host of The Benzinga Pre-Market Prep Show joins me to discuss 3 stocks that he is following. These stocks include Stamps.com, Biogen, and Netflix. We look at the recent news and address the trading patterns.
Joel Elconin, Co-Host of The Benzinga Pre-Market Prep Show joins me to chat about the market moves over the past few trading sessions where money has been rotating back into the US markets. We start with the pop in bank stocks today and the overall narrative from some central banks discussing higher long term rates. We wrap it up with comments on the earnings seasons that is just kicking off.
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me to chat about the continued influence of politics on the markets. Volatility and fear are here to stay but we look ahead to the upcoming earnings season as a short term driver but more importunately what it could mean for future US economic data.
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me to share his thoughts on the weak ISM number from today and look ahead to the US jobs data that is coming up at the end of the week. We also dive into the IPO market after WeWork pulled its IPO and some of the other unicorn companies have struggled since going public. Is this a sign liquidity is drying up or finally a come to realization that companies should be generating profits?
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show kicks off today with his thoughts on what drove the issues we saw in the repo markets last week. These drivers include banks not following the Fed in cutting rates but also the Fed’s lack of direction is contributing. We also discuss the seasonality at play with the Jewish holiday of Rosh HaShana starting early next week and the moves in oil ever since the attacks.
With US markets pushing higher to new highs on the back of a slightly more hawkish Fed there are some internals that need to be noted. Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me for a couple comments on these market internals. We start with the quadruple witching day which is tomorrow and typically results in some noteworthy swings beforehand and possible trend changes. We also discuss Microsoft and Target which just announced share buybacks and an increase in dividends in Microsoft’s case.
US markets are bouncing today and testing the upper level of the recent August trading range at 2940. Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show shares his thoughts on the market action and the change in mentality of traders. Plus a couple comments on the uptrend in bonds and gold and silver.