25 February Watchlist ๐Ÿ‘€

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Today we are watching…

1. FISย (#fidinfo)

The Dow shouldnโ€™t have plummeted 800 points yesterday; itโ€™s the worst performance in two years. However, the market held on to bullish beliefs just slightly too long. Investors confronted the probability that millions of unofficial coronavirus cases are out there, and it was Fidelityโ€™s take in many of the sell orders. The online broker, along with Charles Schwab, reported technical issues as hoards tried to access their accounts all at once. Over $7 trillion worth of client assets are managed on Fidelityโ€™s system, but itโ€™s unclear how low the markets would have dipped yesterday if the company let its users place all their intended sell orders.

2. Gilead Sciences (#gildsci)

The world is descending into zombie land, but Gilead is on the case. This company is behind the groundbreaking antiviral drugs now used to treat hepatitis and HIV, and the World Health Organisation (WHO) says itโ€™s up to Gileadโ€™s latest compound,ย remdesivir, to beat the coronavirus. The stock soared yesterday as the drug was rushed into clinical testing and put on a fast-track through Chinaโ€™s approval pipeline. Shares now change hands at their highest level since October 2018. Theyโ€™re expected to make a big move again by April at the latest when the results of these trials are revealed. The โ€œcoronacureโ€ will be priceless!

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Market Recap โ€“ September 28th ๐Ÿ’ฐ

After the 10-year Treasury yield bond fell off from its 15-year high, investors added some value back into the market, focusing all short-term attention on Fridayโ€™s PCE price index reading.

The Crude Oil Bust ๐Ÿ›ข

Surging global crude oil prices, driven by factors like OPEC+ production cuts have pushed U.S. West Texas Intermediate futures to over $95 per barrel.

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