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Dow Jones Industrial Average Gains for Second Week as Stimulus, Covid Captivate

Dow Jones Industrial Average Gains for Second Week as Stimulus, Covid Captivate

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If the Democrats sweep, they might seek to pass the original $3.4 trillion Heroes Act that cleared the House in May.


ANGELA WEISS/AFP/Getty Images

Sometimes the “why” is less important than the “what.” And that’s particularly true for investors right now.

Try explaining this: The

Dow Jones Industrial Average

advanced 904.09 points, or 3.3%, to 28,586.90 this past week, its second consecutive weekly gain, while the

S&P 500 index

rose 3.8%, to 3477.13, and the

Nasdaq Composite

gained 4.6%, to 11,579.94. Even more shocking, the small-company

Russell 2000

index climbed 6.4%, to 1637.55.

A possible stimulus package got much of the credit—and attention—this week, and there’s no doubt that the market would love to see a bill get passed. The Federal Reserve would too, as Fed Chairman Jerome Powell continued to call for the government to act sooner rather than later. But if it was all about stimulus, we suspect that the swings to the downside would have been larger when President Donald Trump said he was calling off negotiations, and the market wouldn’t simply have shrugged off every other misstep along the way.

Another possibility for the rapidly rising market: It’s looking ahead to a Blue Wave, which would see not only Joe Biden win the election, but Democrats hold the House of Representatives and take the Senate too. In that case, the stimulus might be even larger than a package now would be.

Jefferies economist Aneta Markowska, for instance, removed a stimulus package from her 2020 forecast two weeks ago and still doesn’t expect it to become law this year. She does, however, suspect that if the Democrats sweep, they will seek to pass the original

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Colorado health insurance costs expected to fall on average

Colorado health insurance costs expected to fall on average

DENVER (AP) — Filings with the Colorado Division of Insurance indicate the monthly cost of health insurance bought through the state’s exchange is expected to drop an average of 1.4% next year.

Costs depend on where someone lives, though, The Denver Post reported Thursday. Residents in some counties on the Eastern Plains will see 12% increases in their monthly premiums, while Park County residents could pay 12% less, on average.

In Denver, the average premium will drop 1.2%, though surrounding counties will see even bigger decreases.

The Post reports that the average can conceal significant differences among companies, however, and customers should consider the trade-off between higher premiums and higher out-of-pocket costs.


State officials estimate premiums will be about 20.8% lower than they would have been without the reinsurance program, which acts as a backstop for insurers by reimbursing some of the cost of covering customers with higher medical bills.

Adam Fox, deputy director of the Colorado Consumer Health Initiative, said reinsurance has helped, but it could be hard to find an affordable plan in the 10 counties where only one insurer is selling on the exchange.

Premiums in the small-group market, which isn’t affected by reinsurance, will rise about 3.8%. The small group market is open to businesses with no more than 100 employees.

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Colorado health insurance costs to fall on average, but some counties see increases

Colorado health insurance costs to fall on average, but some counties see increases

The monthly cost of insurance bought through the exchange in Colorado will drop an average of 1.4% next year, according to filings with the Colorado Division of Insurance.

Your costs depend on where you live, though. Some counties on the Eastern Plains will see 12% increases in their monthly premiums, while Park County residents could pay 12% less, on average.

In Denver, the average premium will drop 1.2%, though surrounding counties will see bigger decreases. The average can conceal significant differences among companies, however, and customers have to consider the trade-off between higher premiums and higher out-of-pocket costs when they need care.

State officials estimated premiums will be about 20.8% lower than they would have been without reinsurance. The reinsurance program acts as a backstop for insurers, so they’re reimbursed some of the cost of covering customers with higher medical bills. It’s not clear what will happen to that program if the Supreme Court overturns the Affordable Care Act, because the law included a provision allowing states to experiment with ways to lower premiums, including reinsurance.

Adam Fox, deputy director of the Colorado Consumer Health Initiative, said reinsurance has helped, but it may be difficult to find an affordable plan in the 10 counties where only one insurer is selling on the exchange.

“Unfortunately, some carriers are still increasing rates in some areas, and any rate increase during this public health crisis is too much for many Coloradans who are already struggling,” he said in a news release.

Gov. Jared Polis said more needs to be done to lower the cost of health care. It’s not clear what might gain traction when the Legislature returns next year, however, since proposals for sweeping changes were derailed by the pandemic.

“My administration is committed to helping save people money even more on

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Moving Average Crossover Alert: Waterstone Financial

Moving Average Crossover Alert: Waterstone Financial

Waterstone Financial, Inc. WSBF is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for WSBF broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.

This has already started to take place, as the stock has moved higher by 7.6% in the past four weeks. Plus, the company currently has a Zacks Rank #1 (Strong Buy) suggesting that now could definitely be the time for this breakout candidate.

More bullishness may especially be the case when investors consider what has been happening for WSBF on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 1 higher, while the consensus estimate has also moved higher too.

So, given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2021. 

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Waterstone Financial, Inc. (WSBF): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the

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