Dow surged 647, advancers over decliners about 6-1 & NAZ shot up 231. The MLP index added 1+ to the 112s & the REIT index gained 5+ to the 348s. Junk bond funds traded higher & Treasuries were sold. Oil advanced 1+ to the 38s & gold rose 14 to 1907.
AMJ (Alerian MLP index tracking fund)
|
|
The coronavirus outbreak in the US will likely get so bad
that the country will see more than 1K Covid-19 deaths per day for a
“sustained period of time,” former Food & Drug Administration
Commissioner Dr Scott Gottlieb said. The US reported more than 84K new cases of the virus & 557 new deaths caused by Covid-19, according to data compiled by Johns Hopkins University. The number of deaths recorded tends to fall far below
the average, historical data shows. The country has reported an average
of 835 daily new Covid-19 deaths per day over the past week. That's
far lower than the daily death toll this spring, when an average of
more than 2K people were dying each day from the disease, mostly in
New York state. During the summer surge
that followed Memorial Day, the country reported about 1K deaths per
day in Aug. Gottlieb said the next couple of months could prove to be “the densest phase of the pandemic.” “We’re
probably going to see significant spread across the entire United
States in a confluent epidemic that we’re much better prepared to deal
with, so I don’t think that we’re going to see the excess death that we
saw with the first wave of this pandemic when it struck New York,” he added. “But
the sheer fact that we’re going to be infecting so many people right
now is probably going to mean that the death tolls get well above 1,000
for a sustained period of time.”
Dr. Scott Gottlieb warns of a ‘sustained period’ in U.S. of ‘well above’ 1,000 Covid deaths per day
US factory orders rose 1.1% in Sep to mark the 5th straight
gain, pointing to a steady recovery in the manufacturing segment of the
economy. The forecast called for a 1% increase. Orders for durable goods made to last at least 3 years climbed 1.9% in Sep, the same as the original reading. Orders for nondurable goods such as clothing & food products rose a smaller 0.3%. Manufacturers
have rebounded faster than the much larger service side of the US
economy and have shown little letup despite a fresh coronavirus
outbreak.
U.S. factory orders climb 1.1% in September
Humana (HUM) reported 3rd-qtr profit & revenue that beat
expectations & raised its full-year outlook for Medicare Advantage
membership growth. EPS was $10.05, about double $5.14 in the year-ago period. Excluding
non-recurring items, such as changes in market value of publicly traded
securities & the receipt of commercial risk corridor receivables
previously written off, adjusted EPS fell to $3.08 from
$5.03, but beat the estimate of $2.81. Revenue rose 23.6% to
$20.08B, or grew 15.9% to $18.82B on an adjusted basis. The forecast was for revenue of $18.6B. The company
boosted its 2020 guidance for Medicare Advantage membership growth to
about 375K from 330-360K. "We continue to see more Medicare
beneficiaries choosing Medicare Advantage (MA) plans over
Medicare-Fee-For-Service due to MA's ever-increasing value proposition,"
said CEO Bruce Broussard. "What's driving this strong value
is the fact that plans must constantly innovate to stay competitive as
Medicare beneficiaries have the freedom to choose a plan that's
affordable for them and that suits their lifestyle needs." The stock soared 21.17 (5%).
If you would like to learn more about HUM, click on this link:
club.ino.com/trend/analysis/stock/HUM?a_aid=CD3289&a_bid=6ae5b6f7
Humana beats profit and revenue expectations, boosts MA membership growth outlook
Investors are feeling great & are bidding stocks higher, adding to yesterday's advance. However the election remains close & uncertain with widely different predictions for the outcome.
Dow Jones Industrials
No comments:
Post a Comment