Stocks closed the week on a high note as the good news continued to build heading into the weekend. The three major stock indices were up 3.8% on average this week (the Nasdaq was up more than 6%) and are now sitting at one-month highs as investors digest the news about a possible COVID-19 treatment and the eventual re-opening of America.
In today’s new episode of MoneyLine, I cover the increasing positive headlines surrounding the pandemic and stocks. And, more importantly, I explain why stocks have been rallying recently.
For the last several weeks, biotech firm Gilead Sciences (GILD) has been touted in the news as the company with the most promising potential of creating a treatment for the coronavirus. Well, a press release out last night highlighted the success its drug is having in a Chicago hospital on patients with severe cases of COVID-19. That’s huge news – and the stock was up nearly 10% today as a result.
Gilead wasn’t the only biotech on the move this week. I also talk about a few others that enjoyed breakouts. Believe it or not, there’s even a related ETF that hit new all-time highs today.
Then, I continue my focus on what the “new normal” will look like in the future. I don’t believe things will be much different than they were before – only better. The major hypergrowth trends I’ve been focusing on here in MoneyWire and in my subscription newsletters will only be accelerated.
In fact, one of the stocks in my Investment Opportunities portfolio shot up more than 17% today after reporting great first-quarter numbers. The strength in this gambling company highlights the new normal for the sports betting industry and how the trend will pick up speed as a result of the global pandemic.
I also discuss Boeing’s (BA) big news today – as well as share a list of a few of my favorite payments companies now that cash is no longer king.
I wrap up today’s MoneyLine on a positive note by looking at five stocks that are breaking out to new highs. One is up 25X in the last four-and-a-half years. It shouldn’t come as any surprise that it’s a software stock.
Check out this week’s episode of MoneyLine now – it’s full of stocks and fresh ideas you can’t afford to miss.
Have a great weekend!
P.S. The coronavirus pandemic has not derailed the big, hypergrowth investment trends we’re following. If anything, their progress has greatly accelerated.
That’s why I recently unveiled the Crisis and Opportunity Portfolio – to take advantage of fantastic buying opportunities in innovative companies driving these mega-trends that won’t be slowed by any pandemic or recession.
In fact, I just added my latest pick to the portfolio on Wednesday, and it’s not too late to get in.
Matt McCall’s MoneyLine Podcast
Click here to listen to Matt McCall’s MoneyLine podcast! This week, Matt highlights the top sectors in the market right now that will only continue to grow in the future. Biotech stocks represent some of the best opportunities as these companies search for vaccines and treatments for the coronavirus. But there are many other great buys out there, too…
You can subscribe to this podcast on iTunes, Stitcher, Spotify, or wherever you listen to podcasts.
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