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    Home Unlabelled Stock Market - Wall Street Week Ahead for the trading week beginning March 23rd, 2020

    Stock Market - Wall Street Week Ahead for the trading week beginning March 23rd, 2020

    March 21, 2020

    Stock Market - Wall Street Week Ahead for the trading week beginning March 23rd, 2020

    Wall Street Week Ahead for the trading week beginning March 23rd, 2020

    Posted: 21 Mar 2020 08:36 AM PDT

    Good Saturday afternoon to all of you here on r/StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead.

    Here is everything you need to know to get you ready for the trading week beginning March 23rd, 2020.

    Another harrowing week looms for markets as US economy shuts down and virus spreads - (Source)

    Markets face more violent swings in the coming week as investors watch out for a rising number of coronavirus cases and new data that could show how the virus is slamming the U.S. economy.

    The past week was brutal for stock investors with the Dow Jones Industrial Average posting a 17.3% decline, its worst week since October 2008. But it was the stressed-out credit markets that were at the vortex of pain with a standstill in corporate paper and spreads widening in all areas, from corporates to mortgages.

    As economists looked for an even sharper economic downturn from the impact of social distancing, the Federal Reserve in the past week continued to fire away with new programs and liquidity to grease the wheels of nervous markets. By Friday, the dollar stopped its surge, and the Treasury market was a little calmer, with the benchmark 10-year yields sliding under 1% after a wild ride higher earlier in the week.

    "The Fed is buying about $70 billion in off-the-run Treasurys today. That brings their total purchases this week to $300 billion," said Patrick Leary, chief market strategist at Incapital, on Friday. "$160 billion was the highest we saw in any week during the financial crisis."

    Sharp recession

    In the week ahead, there is fresh data on manufacturing and the service sector when Markit releases its flash Purchasing Manager Indexes for manufacturing and services on Tuesday.

    Consumer sentiment will be important when it is released Friday, but the big tell for the economy will be unemployment claims on Thursday, which are expected to show the impact of massive layoffs at restaurants, stores and other businesses that were forced to close or reduce activity to prevent the spread of the virus.

    Claims rose by 33% in the past week to 281,000, an unprecedented jump outside of times of natural disasters like hurricanes. Some strategists say the claims could easily jump to 1 million or more.

    "We're going to start to see the magnitude of the coronavirus impact on the economy. We already started to see some of it in the weekly claims and now we're going to get a clearer picture," said Michael Arone, chief investment strategist at State Street Global Advisors. Arone said he's watching the PMI data. "This data is going to inform us how bad it could get, give us some guidance, some rough rules of the road. Right now, it's sell first, ask questions later."

    Economists increasingly expect a very sharp but quick recession, starting now. Goldman Sachs economists expect a shocking 24% contraction in second quarter gross domestic product after a 6% decline in the first quarter. The economists expect unemployment to shoot up to 9% from 3.5%, but they see a rebound with growth at 12% in the third quarter.

    "I expect that we'll see abnormal volatility in markets until we begin to see that infection curve flatten, or we see some type of health remedy, vaccine or some solution. I don't think we're going to see that in the next few weeks at least," said Arone. As of Friday, there were about 14,200 cases of the virus in the U.S.

    More Fed Artillery

    Leary and others believe there is more room for the Fed to expand its arsenal, and that could include corporate debt purchases. Investment grade corporate debt funds and exchange traded funds saw record outflows of nearly $44 billion in the last week, according to Bank of America.

    The Fed has already slashed interest rates to zero, added $1 trillion in daily repo operations, and created facilities to help commercial paper, money markets and municipal debt. The dollar has rocketed higher since March 9, and the Fed also expanded swap lines with other central banks, which helped stop the dollar's run on Friday.

    As the world's reserve currency, companies, investors, banks and other institutions worldwide are looking to raise cash and they want it in dollars, the safest, most liquid currency. That rapid move to cash put a strain on the foreign exchange market, and sent the dollar higher and other currencies sharply lower.

    "I think the market is going to be looking for indications that there's some sort of stabilization, or maybe even a hint of stabilization and that policy makers are taking the right action. I think we're not yet at that cathartic moment of peak pessimism," said Ben Randol, foreign exchange strategist at Bank of America. "I'm watching what's going to happen over the weekend because some pretty big numbers [of new virus cases] could come out, not just in the U.S. but in other countries."

    'Liquidity infinity'

    Strategists say it would not be surprising to see more Fed policy moves next week, and a big fiscal stimulus package is expected to come up in Congress on Monday, to ease the impact of job losses on individuals and help companies weather the downturn.

    John Briggs, head of strategy at NatWest Markets, said the bond market responded to the Fed's actions to make more dollars available, seeming to slow the sale of Treasurys by those parties looking to raise cash. "Things are settling into ranges Friday afternoon, because we can't take it anymore," he said.

    "The amount of policy thrown at this market was staggering ... Liquidity infiinity is what I'm calling it," he said. "By the weekend, the whole country is literally going to be shut . You have claims at state unemployment offices skyrocketing. What's the good news over the weekend? That they're going to pass this bill? That's already in the price."

    This past week saw the following moves in the S&P:

    (CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

    Major Indices for this past week:

    (CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

    Major Futures Markets as of Friday's close:

    (CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

    Economic Calendar for the Week Ahead:

    (CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

    Sector Performance WTD, MTD, YTD:

    (CLICK HERE FOR FRIDAY'S PERFORMANCE!)
    (CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
    (CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
    (CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
    (CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
    (CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

    Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

    (CLICK HERE FOR THE CHART!)

    S&P Sectors for the Past Week:

    (CLICK HERE FOR THE CHART!)

    Major Indices Pullback/Correction Levels as of Friday's close:

    (CLICK HERE FOR THE CHART!

    Major Indices Rally Levels as of Friday's close:

    (CLICK HERE FOR THE CHART!)

    Most Anticipated Earnings Releases for this week:

    (CLICK HERE FOR THE CHART!)

    Here are the upcoming IPO's for this week:

    (CLICK HERE FOR THE CHART!)

    Friday's Stock Analyst Upgrades & Downgrades:

    (CLICK HERE FOR THE CHART LINK #1!)
    (CLICK HERE FOR THE CHART LINK #2!)
    (CLICK HERE FOR THE CHART LINK #3!)
    (CLICK HERE FOR THE CHART LINK #4!)

    How Markets Bottom

    With US equities firmly in a bear market, even the most long-term investors are now looking ahead to when the selling may stop and where the S&P 500 Index might ultimately bottom. "Nobody knows exactly how this market bottom will play out," said LPL Financial Senior Market Strategist Ryan Detrick. "However, using history as guide, we know markets tend to retest or even slightly break previous lows."

    We took a look at how markets have bottomed for two previous bear markets that show similarities to the current sell-off, in terms of speed and magnitude. As shown in the chart below, following Black Monday, the largest single-day decline in the history of the S&P 500, the index rebounded modestly, before undercutting its lows about six weeks later. However, a look at the bottom panel shows that the momentum, or speed, of that move was significantly less extreme and markets went on to rally, ultimately eclipsing the 1987 peak less than two years later.

    (CLICK HERE FOR THE CHART!)

    The 2008-2009 financial crisis tells a similar story. While the S&P 500 Index didn't ultimately reach its low until March 2009, most stocks actually bottomed during the fall 2008, following the collapse of Lehman Brothers. Even though the S&P 500 undercut the October lows by a full 10%, this divergence, similar to the momentum observed in 1987, shows that things were improving under the surface even if the price of the index didn't yet reflect it.

    (CLICK HERE FOR THE CHART!)

    It may be too early to say that the initial leg of our current decline is done, but certainly we have seen extreme fear and a historic decline in markets. One positive—the S&P 500 has yet to close below its December 2018 lows. Soon it may be time to start hunting for signs of a bottom.

    Stocks Approach 2009 Valuations vs. Bonds

    We rolled out our Road to Recovery Playbook at the start of the week to help investors gauge where the market is in its bottoming process. The first and most important piece of that playbook—visibility into a peak in new COVID-19 cases—remains elusive, but we hope to have a clearer picture with the next couple of weeks as containment efforts have more time to work. We continue to monitor cases daily and plan to update you on that progress regularly during this crisis.

    We're getting closer to checking off the other four boxes. We would just like to see a bit more economic data consistent with recession—almost surely coming soon—and to get more clarity on the timing, size, and nature of the policy response before checking off those two boxes on our list. The technical analysis and sentiment box was checked last week—the amount of bearishness among investors is near the levels of prior bear market lows.

    The last box—markets pricing in recession—was also checked last week based on the magnitude of the sell-off. The nearly 30% drop in the S&P 500 Index from the February 19 high is close to the average peak-to-trough decline in recessions at about 35%.

    Another way to show a recession is priced in and stocks may be near their ultimate bottom is by valuing stocks relative to bonds, sometimes called the equity risk premium (ERP), which we show in the LPL Chart of the Day.

    "Stocks are now historically cheap by most measures after this selloff," noted LPL Chief Investment Officer Burt White. "When comparing stock valuations to bond yields, we are approaching levels only seen during some of the worst bear markets over the past 50 years."

    The equity risk premium compares the earnings yield on the S&P 500 (the inverse of the price-to-earnings ratio) to the 10-year US Treasury yield. That number as of March 18 was 4.9%, well above the long-term average of 0.8% (it was higher on March 16 when the 10-year Treasury yield was 0.73% rather than 1.18%). That compares to historical peaks between 6 and 7% in 1974 and shortly after the financial crisis.

    The bottom line is that if this trend holds equity investors could be well compensated over time for the risks they are taking now.

    (CLICK HERE FOR THE CHART!)

    We know it's tough to see the other side of this crisis right now, and the volatility is unnerving for all of us. But historically, investors who owned stocks at these valuations have been rewarded over time. We think this time will be no different.

    How Quickly Can Stocks Recover From COVID-19?

    The market volatility continues, as the S&P 500 Index has closed either up or down 4% or more for a record 7 consecutive days. With the S&P 500 Index down 30% from the highs, it has officially moved into a bear market. Yesterday, we took a look at how stocks did after the lows of major corrections formed, and today we'll take another angle on this.

    We do not know if down 30% is the lows; in fact, it probably isn't. The good news is we feel we are getting close to a major low. How quickly could stocks regain their February 19 highs? "Historically we've found that some of the quickest market sell-offs can lead to some of the fastest recoveries," explained LPL Senior Market Strategist Ryan Detrick. "That's the good news. The bad news is if the economy falls into a recession, it can take longer."

    As the LPL Chart of the Day shows, there have been 14 previous bear markets since 1950, and it took an average of 20 months from the bear market lows to recover the losses*. Taking this a step further, when the economy avoided a recession, the recovery took only 10 months, versus 30 months for a recession, although a lot of that is because bear markets accompanied by recessions are typically deeper. Last, the last three bear markets that avoided a recession recovered the gains in 3 months, 4 months, and 4 months after the ultimate bear lows were made.

    (CLICK HERE FOR THE CHART!)

    Looking To The Other Side of The Bear

    The indiscriminate selling continued yesterday, with one of the worst days in stock market history. Fears over the potential impact of COVID-19 (coronavirus) have led to one of the steepest sell-offs in history, rivaling what we saw in 1962 and 1987.

    With the S&P 500 Index down 30% from the all-time highs set less than a month ago on February 19, it is quite clear the stock market is voting on a significant economic slowdown over the coming months. Historically, during bear markets we have found that stocks pulled back 37% on average during a recession and 24% on average if a recession is avoided. With stocks currently down right near the middle of this, the economy could be about a coin flip to going into a recession or not. We discuss this idea and more in our latest LPL Market Signals Podcast.

    What happens next? "Clearly no one knows how bad things could get and when stocks will ultimately bottom, but we feel we are getting close," explained LPL Senior Market Strategist Ryan Detrick. "The good news is a year after previous market corrections end, as scary as they all felt at the time, stock performance has historically been quite strong, higher more than 90% of the time."

    As shown in the LPL Chart of the Day, since 1980, there have been 31 other 10% corrections or more for the S&P 500, according to data from our friends at Ned Davis Research. We'd like to stress, we don't know when this weakness will end, but if we are close, the average return after a correction ends has been more than 23% on average and higher more than 90% of the time.

    (CLICK HERE FOR THE CHART!)

    COVID-19 Collapse vs. Other Major Downturns

    Even though equities rose today, the S&P 500 still remains over 28% off of the 2/19 high. As of yesterday's close, only twenty days after the S&P 500's peak, the index was down nearly 32% from that high. Below is a look at the current selloff from its high versus prior big selloffs since 1928. We all know about the 1929 and 1987 market crashes, but this one has even those beat in terms of the time it took to fall this much. And the two major peaks and subsequent bear markets of the 21st century both took basically a year to fall the same amount that we've fallen in just 20 trading days this time.

    (CLICK HERE FOR THE CHART!)

    Oil Slippery

    Like a flopping wet fish, it's been incredibly hard to get a hold on an accurate price of crude oil this week. With a gain of 22.2% so far today, WTI is experiencing its largest one-day gain on record (dating back to 1983). The next closest largest one-day gain was in December 2008 when crude rallied 17.8%. While today's gain is impressive, keep in mind that it followed yesterday's decline of 24.4% which ranks as the third-largest one-day decline on record and last week's 24.6% decline on March 9th. In fact, three of the four largest one-day percentage moves in WTI have all come in the last two weeks!

    While a big gain in any asset class always leads to questions over whether it is the start of a new run higher, we would caution that following the prior nine largest one-day gains on record, crude oil's median change over the next week was a decline of 4.4%.

    (CLICK HERE FOR THE CHART!)

    Russell 2000's Third Largest Drawdown on Record

    While US large cap stocks are right around 30% from their record highs a month ago, the carnage in small caps has been even more severe. While the Russell 2000 never quite made a new high this year along with the broader market, it got pretty close. Like the rest of the market, though, it has been crushed. As of yesterday's close, the Russell 2000 was 43.1% below its all-time high which ranks as the third-largest decline from a record high. The only two periods where the Russell saw a larger decline were in October 2002 when the drawdown reached 46.1% and then in March 2009 when the selling finally stopped at 59.9% on March 9, 2009. Now, if the Russell 2000 were to match either of those prior two periods in terms of magnitude, it would have to fall an additional 4.3% to match the decline of October 2002 or 28.9% to match the decline of March 2009.

    (CLICK HERE FOR THE CHART!)

    The Buck's Bounce

    In the currency space, the US dollar has certainly not been immune from recent market volatility. The dollar index peaked on February 20th, just one day after the S&P 500 had reached its all time highs. That was the dollar's highest level since April of 2017. Over the following days, the dollar would go on to fall roughly 5% to its low on March 9th. In the time since then, it has more than recovered those losses, rising over 6% and is once again back up to its highest levels since 2017.

    (CLICK HERE FOR THE CHART!)

    This string of volatility for the greenback is rare. As of today, the dollar is up 4.26% over the past ten days. But just back on the ninth (the recent low) it had been lower by 4.12% over the prior ten days. The last time that there was both a 10-day change up and down of at least 4% in the span of just ten days was back in October of 2008. Going back through the index's history since the early 1970s, there have been a total of 15 days (including that 2008 and current instances) in which such swings can be observed; shown by the red dots in the chart below. Prior to 2008, the only other times the dollar was as volatile by this measure was in the 1980s and late 1970s. So with regards to more recent history, it is even more unprecedented.

    (CLICK HERE FOR THE CHART!)

    In terms of daily changes, the dollar has also been very volatile. Over the past ten days, the currency has averaged a daily change (positive or negative) of just over 1% which is rare going back through history. Again this is the most volatile the dollar has been since the financial crisis, though at that time, the daily swings were larger on average; reaching 1.35% at the high. Prior to 2008, the only other times the average daily change was over 1% was in the early 1990s, mid-1980s, and late 1970s. As with 2008, those past times were slightly more volatile than the current moment.

    (CLICK HERE FOR THE CHART!)

    STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending March 20th, 2020

    (CLICK HERE FOR THE YOUTUBE VIDEO!)

    STOCK MARKET VIDEO: ShadowTrader Video Weekly 3.22.20

    (CLICK HERE FOR THE YOUTUBE VIDEO!)

    Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-

    • $MU
    • $LULU
    • $NKE
    • $PAYS
    • $SIG
    • $PAYX
    • $GME
    • $ONTX
    • $CSIQ
    • $JT
    • $INFO
    • $GO
    • $WGO
    • $LX
    • $SCVL
    • $SNX
    • $HOME
    • $BWAY
    • $AEYE
    • $KBH
    • $RKDA
    • $FDS
    • $ERJ
    • $PRGS
    • $OPGN
    • $SCS
    • $NEOG
    • $PUMP
    • $HYRE
    • $AIR
    • $MYOS
    • $LIQT
    • $SAIC
    • $SCWX
    • $ESLT
    • $VTSI
    • $OCGN
    • $QIWI
    • $WOR
    • $TNP
    • $HTHT
    (CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
    (CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)

    Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

    Monday 3.23.20 Before Market Open:

    (CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Monday 3.23.20 After Market Close:

    (CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Tuesday 3.24.20 Before Market Open:

    (CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Tuesday 3.24.20 After Market Close:

    (CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Wednesday 3.25.20 Before Market Open:

    (CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Wednesday 3.25.20 After Market Close:

    (CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Thursday 3.26.20 Before Market Open:

    (CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Thursday 3.26.20 After Market Close:

    (CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

    Friday 3.27.20 Before Market Open:

    (CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

    Friday 3.27.20 After Market Close:

    ([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())

    NONE.

    Micron Technology, Inc. $36.11

    Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:00 PM ET on Wednesday, March 25, 2020. The consensus earnings estimate is $0.37 per share on revenue of $4.66 billion and the Earnings Whisper ® number is $0.41 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat The company's guidance was for earnings of $0.29 to $0.41 per share. Consensus estimates are for earnings to decline year-over-year by 77.84% with revenue decreasing by 20.14%. Short interest has decreased by 22.7% since the company's last earnings release while the stock has drifted lower by 34.4% from its open following the earnings release to be 23.7% below its 200 day moving average of $47.35. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, March 13, 2020 there was some notable buying of 12,642 contracts of the $42.00 call expiring on Friday, April 17, 2020. Option traders are pricing in a 17.2% move on earnings and the stock has averaged a 7.9% move in recent quarters.

    (CLICK HERE FOR THE CHART!)

    lululemon athletica inc. $165.01

    lululemon athletica inc. (LULU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 26, 2020. The consensus earnings estimate is $2.25 per share on revenue of $1.38 billion and the Earnings Whisper ® number is $2.29 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat The company's guidance was for earnings of $2.10 to $2.13 per share. Consensus estimates are for year-over-year earnings growth of 21.62% with revenue increasing by 18.21%. Short interest has decreased by 50.0% since the company's last earnings release while the stock has drifted lower by 27.0% from its open following the earnings release to be 19.6% below its 200 day moving average of $205.28. Overall earnings estimates have been revised higher since the company's last earnings release. On Thursday, March 19, 2020 there was some notable buying of 1,041 contracts of the $200.00 call expiring on Friday, April 17, 2020. Option traders are pricing in a 19.9% move on earnings and the stock has averaged a 9.0% move in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Nike Inc $67.45

    Nike Inc (NKE) is confirmed to report earnings at approximately 4:15 PM ET on Tuesday, March 24, 2020. The consensus earnings estimate is $0.58 per share on revenue of $9.87 billion and the Earnings Whisper ® number is $0.63 per share. Investor sentiment going into the company's earnings release has 50% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 14.71% with revenue increasing by 2.69%. Short interest has increased by 37.8% since the company's last earnings release while the stock has drifted lower by 33.2% from its open following the earnings release to be 25.4% below its 200 day moving average of $90.36. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, March 13, 2020 there was some notable buying of 2,468 contracts of the $95.00 call expiring on Friday, June 19, 2020. Option traders are pricing in a 14.7% move on earnings and the stock has averaged a 3.5% move in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Paysign, Inc. $4.29

    Paysign, Inc. (PAYS) is confirmed to report earnings at approximately 4:00 PM ET on Wednesday, March 25, 2020. Investor sentiment going into the company's earnings release has 72% expecting an earnings beat. Short interest has increased by 10.5% since the company's last earnings release while the stock has drifted lower by 60.2% from its open following the earnings release to be 64.7% below its 200 day moving average of $12.14. The stock has averaged a 11.3% move on earnings in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Signet Jewelers Ltd $7.74

    Signet Jewelers Ltd (SIG) is confirmed to report earnings at approximately 6:50 AM ET on Thursday, March 26, 2020. The consensus earnings estimate is $3.47 per share and the Earnings Whisper ® number is $3.53 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 12.37% with revenue decreasing by 53.64%. Short interest has decreased by 39.4% since the company's last earnings release while the stock has drifted lower by 57.0% from its open following the earnings release to be 57.7% below its 200 day moving average of $18.30. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, February 18, 2020 there was some notable buying of 1,000 contracts of the $32.00 call expiring on Friday, January 15, 2021. The stock has averaged a 13.0% move on earnings in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Paychex, Inc. $51.97

    Paychex, Inc. (PAYX) is confirmed to report earnings at approximately 8:30 AM ET on Wednesday, March 25, 2020. The consensus earnings estimate is $0.95 per share on revenue of $1.14 billion and the Earnings Whisper ® number is $0.95 per share. Investor sentiment going into the company's earnings release has 79% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 6.74% with revenue increasing by 6.50%. Short interest has decreased by 18.5% since the company's last earnings release while the stock has drifted lower by 40.3% from its open following the earnings release to be 37.5% below its 200 day moving average of $83.19. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, March 19, 2020 there was some notable buying of 1,413 contracts of the $62.50 call expiring on Friday, September 18, 2020. Option traders are pricing in a 7.6% move on earnings and the stock has averaged a 1.5% move in recent quarters.

    (CLICK HERE FOR THE CHART!)

    GameStop Corp. $3.76

    GameStop Corp. (GME) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 26, 2020. The consensus earnings estimate is $0.84 per share on revenue of $2.36 billion and the Earnings Whisper ® number is $0.75 per share. Investor sentiment going into the company's earnings release has 4% expecting an earnings miss. Consensus estimates are for earnings to decline year-over-year by 42.07% with revenue decreasing by 22.95%. Short interest has increased by 1.3% since the company's last earnings release while the stock has drifted lower by 28.4% from its open following the earnings release to be 23.1% below its 200 day moving average of $4.89. Overall earnings estimates have been revised lower since the company's last earnings release. On Wednesday, March 11, 2020 there was some notable buying of 5,970 contracts of the $8.00 call expiring on Friday, July 17, 2020. The stock has averaged a 12.0% move on earnings in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Onconova Therapeutics, Inc. $0.30

    Onconova Therapeutics, Inc. (ONTX) is confirmed to report earnings at approximately 6:55 PM ET on Tuesday, March 24, 2020. The consensus estimate is for a loss of $0.05 per share on revenue of $70.00 thousand. Investor sentiment going into the company's earnings release has 46% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 94.12% with revenue increasing by 18.64%. Short interest has increased by 798.7% since the company's last earnings release while the stock has drifted lower by 27.4% from its open following the earnings release to be 76.4% below its 200 day moving average of $1.29. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 8.2% move on earnings in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Canadian Solar Inc $14.71

    Canadian Solar Inc (CSIQ) is confirmed to report earnings at approximately 6:00 AM ET on Thursday, March 26, 2020. The consensus earnings estimate is $0.55 per share on revenue of $869.35 million and the Earnings Whisper ® number is $0.49 per share. Investor sentiment going into the company's earnings release has 63% expecting an earnings beat The company's guidance was for revenue of $850.00 million to $880.00 million. Consensus estimates are for earnings to decline year-over-year by 71.35% with revenue decreasing by 3.52%. Short interest has increased by 8.0% since the company's last earnings release while the stock has drifted lower by 9.8% from its open following the earnings release to be 28.1% below its 200 day moving average of $20.45. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, March 9, 2020 there was some notable buying of 511 contracts of the $18.00 call expiring on Friday, April 17, 2020. Option traders are pricing in a 19.9% move on earnings and the stock has averaged a 13.5% move in recent quarters.

    (CLICK HERE FOR THE CHART!)

    Jianpu Technology Inc. $1.00

    Jianpu Technology Inc. (JT) is confirmed to report earnings at approximately 6:00 AM ET on Monday, March 23, 2020. The consensus earnings estimate is $0.01 per share on revenue of $157.83 million. Investor sentiment going into the company's earnings release has 44% expecting an earnings beat The company's guidance was for revenue of $34.00 million to $37.00 million. Consensus estimates are for earnings to decline year-over-year by 0.00% with revenue increasing by 46.23%. Short interest has decreased by 11.3% since the company's last earnings release while the stock has drifted lower by 35.5% from its open following the earnings release.

    (CLICK HERE FOR THE CHART!)

    DISCUSS!

    What are you all watching for in this upcoming trading week?

    I hope you all have a wonderful weekend and a great trading week ahead r/StockMarket.

    submitted by /u/bigbear0083
    [link] [comments]

    Now we know China is recovering for real.

    Posted: 21 Mar 2020 11:58 AM PDT

    After a two-month reduction in China's air pollution due in part to the January and February coronavirus restrictions, new data from Copernicus EU demonstrate the rise of nitrogen dioxide emissions in March as life begins to resume for the country.

    https://twitter.com/i/events/1240688520382926850?cn=ZmxleGlibGVfcmVjc18y&refsrc=email

    We should see US recovering no later than June. May be as earlier as May/Apr. Cross finger.

    submitted by /u/Garrison_Forrdd
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    Most Anticipated Earnings Releases for the trading week beginning March 23rd, 2020

    Posted: 21 Mar 2020 08:09 AM PDT

    S&P below 2000?

    Posted: 21 Mar 2020 05:23 PM PDT

    So everyone seems surprised with the market volatility seen over the past few weeks due to Covid-19.

    The thing is... with historically low-interest rates for the past 10 years, I feel like most companies have become overvalued.

    eg. Tesla being 900 bucks a share in February and barely making a profit (love tesla great cars but that is ridiculous)

    We have also had this influx of ETF and Index like trading from the savvy investors like myself LOL looking to follow the market with any savings they might have. This surely has added to the price inflation too as these funds only/mainly focus on blue-chip US/UK stocks

    ​

    ** My point being is... the S&P is going to sink with the lack of liquid cash and higher unemployment, I feel 1800 might be a number to watch for, (comparing it to past dips)

    What do you think?

    submitted by /u/bucks195
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    Join us tomorrow, 3/22/2020 at 7PM Eastern in the official /r/StockMarket Discord Chat for a "State of the Market" live stream!

    Posted: 21 Mar 2020 03:04 PM PDT

    What's up everyone!

    It's been a while since I've done one of these, but wanted to do a quick chat to catch everyone up on what's been going on in the market the last several weeks. With everyone on lockdown/quarantine I expect there to be a pretty big turnout (I mean really what else do we have to do?) Anyway, these last 4-5 weeks have given us some INCREDIBLE trading opportunities but things are VERY volatile and sometimes it's good to take a step back and look at the bigger picture.

    The session will take place Tomorrow at 7PM Eastern in the Official /r/StockMarket Discord and I hope you all can make it.

    We'll cover some of the hottest topics of late including (but not limited to):

    • The effect of COVID-19 on the market
    • Airline stocks and their (possible) future
    • The fall of Boeing and its (possible) future
    • The recent actions of the Fed
    • The current situation with COVID-19 and what to keep an eye on in the coming weeks and months

    As always, this is 100% free and open to everyone so please come join and ask questions!

    Here are the details:

    Date: Sun, 3/22/2020

    Time: 7PM Eastern

    Location: Official /r/StockMarket Discord, #live_chat channel

    Twitch Stream: Direct Link, or #twitch_stream channel

    Can't make it? All these sessions are recorded! (and uploaded...eventually)

    YouTube archive: Main Channel

    Hope to see everyone there!

    submitted by /u/ghostofgbt
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    How do you think the Rescue Package will impact SPY value?

    Posted: 21 Mar 2020 06:16 PM PDT

    On Monday 23rd, Congress will approve a Rescue Package of about $1 Trillion. I think the President will announce it at noon. In the last weeks, SPY went up shortly after two similar announcements. However, this will be the largest package of the three.

    What do you think will happen on Monday with SPY? My guess is that it'll pump up shortly after the announcement, although its value will keep dropping over the next two weeks.

    submitted by /u/jaimespain
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    Is the Intelligent Investor still relevant today?

    Posted: 21 Mar 2020 11:13 AM PDT

    I tried reading it when I was 19, made it about 3 days in before I had to put it down. I'm 22 right now and am considering a second try while this whole quarantine thing blows over. Is the book still relevant? Are there parts that I should focus a lot on over other parts? Not sure if I'll think it's as dry as before since my financial education has increased. Going to start this evening.

    submitted by /u/Swee10
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    Boeing, Gilead, and Coca Cola Stocks

    Posted: 21 Mar 2020 03:03 PM PDT

    How low do you guys think Boeings stock price will drop to? Have some shares at $120 average price right now.

    How High do you think Gilead Science stock could get if they come up with a sucessful virus treatment? I have a few shares at $80 avg price

    Slowly building my Coca Cola stock, at around $38 for KO do you think this is a good price or think it will drop much lower?

    submitted by /u/Tjbenz
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    I think this 52 week low is the new 52 week high.

    Posted: 21 Mar 2020 08:00 PM PDT

    This is bigger than 9-11 in death and it is going to hit every country. I think once NYC sees 3000 deaths the stock market will really see the beginning of a crash. The Senators and insiders have already pulled out.

    submitted by /u/nubcake73
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    How do you think the markets will react to the $1.3T "Phase Three" coronavirus stimulus package?

    Posted: 21 Mar 2020 12:12 PM PDT

    Curious to get everyone's opinions here, since I know enough to know that I don't know enough.

    the so-called "phase three" proposal would include $50 billion to aid the hard-hit airline industry, $150 billion for other distressed sectors of the economy, two rounds of direct payments of $250 billion each on April 6 and May 18, and the creation of a small business interruption loan program.

    Source: Politico

    From your perspective, what are some of the downstream effects of passing this?

    Is this enough to stabilize stocks, etc.?

    submitted by /u/wnmurphy
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    Thoughts on SNE?

    Posted: 21 Mar 2020 04:04 PM PDT

    Beginner here.
    Following some rules on finding value stocks, I thought Sony seemed like a pretty interesting stock to invest in. I do, however, don't fully understand how their PE ratio dropped from 91 to 11 in 4 years.

    Can you perhaps explain this to me and also give me your opinions on a long term investment in Sony? Tia

    submitted by /u/queffect
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    December 2018 record low broken.

    Posted: 21 Mar 2020 10:12 AM PDT

    During the flash crash of December 2018, the S&P 500 had a record low of 2,346.58. Last friday that record low was broken when the market closed at 2,304.92, breaking through a strong support line for hopeful investors.

    People were eager to accept that the December 2018 low was a strong support and maybe even the bottom, that argument proved to be wrong yesterday, meaning the bottom still seems to be found.

    I think investors have to understand that the decade long Bull Market of 2009-2020 is over, this Bear is here to stay, at least for the upcoming months, and we won't reach new highs soon.

    submitted by /u/Braconomist
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    Who has been shorting the stock market?

    Posted: 21 Mar 2020 07:11 PM PDT

    I would appreciate your opinions. I put money in on Friday (short term) sensing the worse is yet to come and overall bad news in regards to the virus. Regardless whether Monday will be up or down, I feel the overall week will be down and by far. What are your thoughts?

    submitted by /u/naspat
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    Selling a stock that's only dropped minimally since the COVID drama?

    Posted: 21 Mar 2020 06:41 PM PDT

    I have a stock that about to go ex dividend. Overall if I sell it after the ex dividend date I only make about a 5% loss.

    Would you do that or hold onto it? Or what factors would you consider for keeping or selling?

    I've got emergency $ for about 6 months so I'm not in desperate need for cash, though I'm annoyed I don't have enough job stability to comfortably invest any extra $ I have for the time being.

    Edit: It doesn't have a meaningful cap only $102million au.

    It's short term assetsis currently only 90% of short term liabilities but long term asset more than covers long term liabilities.

    It is in the agricultural transport industry so I suspect they'll still have plenty of work particularly if we end up not being allowed to import food for a while.

    submitted by /u/Kaylani711911
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    New to stocks

    Posted: 21 Mar 2020 05:59 PM PDT

    So I'm new to this whole stock market thing and my brother is too he just bought 30 shares in the company Aurora Cannibis they were selling for .76 a share is this a good investment I know there economy is up in the air from this Corona stuff but any info about this

    submitted by /u/Magikarp_117
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    Can anyone tell me how well Webull does on busy trading days?

    Posted: 21 Mar 2020 05:15 PM PDT

    I am currently in the process of changing my trading platform. I currently have Robinhood but did not like the results I got on the very busy trading days. I could not do any trades during that period when the market was very volatile and been gradually checking out trading platforms to prevent that from happening again. Can anyone tell me how good webull is during large amounts of volume? I been debating between Webull and TD Ameritrade but Webull looks like it might fit my style more.

    submitted by /u/seohiroth7
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    Would i be stupid not to invest some money now due to the virus?

    Posted: 21 Mar 2020 07:41 PM PDT

    Hello. I have some money sitting around. Honestly i dont know anything about stocks. I am in my early 20's. I have a roth ira, getting a solo 401k soon. The next best thing to do would be to have some stocks. Can i learn enough about stocks in the next few weeks to buy some up while theyre probably low as hell?

    submitted by /u/kza1209891
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    Stock Market Beginner

    Posted: 21 Mar 2020 02:40 PM PDT

    Burford Capital (LON: BUR OTC: BRFRF)

    Posted: 21 Mar 2020 08:57 AM PDT

    What about investing in long term into stocks that also pay dividends?

    Posted: 21 Mar 2020 11:29 AM PDT

    Hi.I was thinking of a strategy that for me sounds really good but I don't know if it really is.So here is the strategy:

    I invest using dca every week into stocks like Microsoft,xom,apple,disney,txn,visa or other good stocks that also give dividends.I don't want to invest only for dividends I want to invest in stocks that are good for long term and they also pay dividends.Whay do you guys think about this strategy?And what do you think abour these stocks that pays high dividends like xom,txn?

    submitted by /u/vld4k
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    Books For Beginners

    Posted: 21 Mar 2020 01:08 AM PDT

    Hi. I'm currently 18 and I've recently become interested in investing in the stock market. Obviously I don't currently have the money (capital?) to invest in the stock market, but I would like to learn about it before I do earn some. Can someone reccommend books for absolute beginners?

    submitted by /u/Solcitude
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    Does this DCA investment planning look good to you?

    Posted: 21 Mar 2020 05:56 AM PDT

    Hello,

    I'd like to start this by saying that I already have a 6 months safety net of 10k€ and that the money I am talking about here is not money I need in the next few months/years.

    I am planning on gradually buying while dollar cost averaging on my ETFs over the next few weeks/months and I wanted some insights.

    I have three ETFs at the moment, separated 20% bonds, 80% stocks:

    • 20% european bonds
    • 40% european stocks
    • 40% worldwide stocks

    You'll notice I'm from Europe, also these ETFs do not follow any specific Index: is it better if they do (as a rule of thumb)?

    I am looking into investing some more of my cash into these, as well as introducing a US stocks ETF:
    Should this US ETF follow an Index? Is it even worth it to invest in a US ETF at all when looking at my current portfolio?

    It would result in 20% EU bonds and 80% stocks equally divided between themselves:
    This means that for the next few instalments, the US ETF would receive proportionally more cash than the others to catch up to them.

    I was thinking of spreading the investment, 4 buys at a rate of 1 every two weeks, and then regularly invest (thinking of once per quarter at the moment) in the same ETFs:
    Is bi-monthly OK, too short between the buys, too long? Is quarterly after that valid, or would it be better to follow a different time frame?

    For these 4 buys we speak of 8k€, then for the quarterly buy, it would range between 1.5 and 2.5k€, so not so much all in all.

    Thanks for reading.

    submitted by /u/DerotciV
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    NEWB HERE, i have a few questions about Options.

    Posted: 21 Mar 2020 12:47 AM PDT

    I'm considering buying some puts and had a few newb questions. sorry ahead of time.

    ​

    1. How do you maneuver between the bid/ask/last price when posting contracts for Puts ?
    2. How often do you write out your own contract instead of just picking up other peoples contract?
    3. Do options expire at the opening or closing of the expiration date ?
    4. If I sell my option when it's OTM, am I just selling the value of my contract to another buyer ? but if I do wait to get ITM, then I'm just exercising my right to buy 100 shares of the strike price minus the premium ?
    submitted by /u/SilentShadow33
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