By Keris Lahiff, CNBC FedEx shares were lower Tuesday after hitting a 52-week high earlier in the session. The stock has rallied 18% this month, getting another boost on Monday after Bernstein said a global recovery depends on the company. Craig Johnson, chief market technician at Piper Sandler, said the chart suggests even more upside. "This is a terrific downtrend reversal off of the 2018 highs. You can see that ... the [relative strength] index is improving for FedEx, too," Johnson said Monday on CNBC's "Trading Nation." In a note to CNBC, he added that a close above $200 would also be bullish. FedEx ended Monday at $199.98. The move higher in the entire trucking and logistics group is a positive, Johnson added. "It's truckload, full carriers, I can see it's logistics companies that are making new highs and relative new highs in the market, this is to me a… more
– Cisco Systems is bubbling just below its prior 2020 high. A good earnings report could propel the stock over it or it could hammer it lower. – By Bret Kenwell, TheStreet.com Cisco Systems (CSCO) has put together a solid run from the March lows, up 50%. However, that hardly makes it unique. Most of the market has made a... more
What a week! Even when things finally looked a little dangerous mid-day on Friday, the bulls mustered some gumption to claw their way back to a small gain for the day. Friday's small win on top of the bigger gains logged earlier in the week carried stocks to meaningfully higher highs, and past some technical resistance. It seems flimsy and... more
– International stocks unlikely to outperform during this bout of dollar weakness, analyst forecasts – By William Watts, MarketWatch A falling U.S. dollar is getting a lot of attention from stock-market investors, and according to the chart below from Wells Fargo Investment Institute, the focus isn't misplaced. The chart sums up how the stock market and a variety of sectors... more
It could have gone either way, but thanks to a last-minute rally from Friday's lows, the market managed to end last week with a gain. The S&P 500 added 1.7% worth of value to itself last week, pushing up and off of a key support level to do so. The NASDAQ fared even better. The Dow did worse. Even within... more
If there's something seemingly hinky about the way the market's been acting of late – even through July – you're not crazy. This has been a very unusual environment. What's odd about it? Everything's going up. Stocks (including foreign stocks), bonds, commodities (especially gold), are all well up from their March lows. The graphic below puts things in perspective. Since... more
– Build exposure to international stocks when the dollar loses ground – By Mark Hulbert, MarketWatch Don't look for gold to hedge a falling dollar. That may be a surprise since gold is often the first asset that investors think of when wanting to hedge against currency devaluation. Gold's reputation has been strongly reinforced since mid-May, as the U.S. Dollar... more
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