Gold has always had a special place for investors. It’s one of the world’s oldest forms of money, and while most currencies today no longer circulate precious metals, gold is still used as both a reliable store of value and a ‘safe haven’ investment. And in recent months, with economies reeling from the COVID-19 pandemic and markets generally going haywire, gold has seen a strong rally. The metal is up more than 16% year-to-date, and is now trading for more than $1,700 per ounce."The breakout occurring now that is ending Q2 completes an eight week trading range that has resumed higher [...] These patterns say gold can make a new all-time high with Q3 on our mind," said Bank of America strategist Paul Ciana. The potential is clear in gold; it’s an investment that can both insulate a portfolio during hard time and bring a positive return. Now combine that with...
Stocks fell Friday morning, pointing to a lower end to the week. The Dow underperformed against the S&P 500 and Nasdaq, as Nike shares slid after reporting a surprise quarterly loss....
On its face, BP (NYSE:BP) stock looks like a wonderful pick for income investors. BP's dividend now yields over 10%. That seems to be hugely attractive for a large, diversified oil company.Source: FotograFFF / Shutterstock.com Indeed, that yield is the highest among the largest oil producers, even for investors willing to look overseas for oil stocks. The dividends of Italy's Eni S.p.A. (NYSE:E) and France's Total S.A. (NYSE:TOT) are close to that of BP, but neither European company's yield is over 10%.The market, however, is aware of BP's dividend and is pricing BP stock accordingly. This isn't a case where investors have a wonderful opportunity to get double-digit annual returns, excluding share-price appreciation.InvestorPlace - Stock Market News, Stock Advice & Trading TipsRather, the BP stock price implies a very real expectation of a dividend cut. News last week suggests that such a cut is likely to occur -- and could arrive...
It's been a terrible year for Chinese coffee chain Luckin (NYSE:LK). LK stock is down a whopping 92% so far this year as the company struggles with the consequences of its fraud scandal.Source: Keitma / Shutterstock.com This week major banks won a legal battle that will force Luckin Chairman Charles Lu to liquidate millions of dollars worth of Luckin stock in order to reimburse the creditors.The move will put Lu in a precarious position ahead of a major vote scheduled for July 5, which could remove him from the company. Luckin's nosedive, fraud scandal, and the resulting flurry of bad news has many bottom-feeders sniffing around LK stock. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIs there a contrarian play there? Absolutely. But is it a smart one? Not in my opinion. Bad News LK Stock Isn't Over YetThe next two weeks could bring an onslaught of bad news...
