The “Mad Money” host says, ‘Never underestimate the power of enthusiastic buyers who do not know what they’re doing.” The Terra College Foundation has received a new grant to teach area students about financial literacy. Ripple’s investment arm Xpring is throwing three more years of support into the development studio XRPL Labs and its crypto banking platform Xumm in a push for mass adoption. Small investors placed bets on biotech companies pursuing coronavirus advances; the coronavirus has upended everything airlines know about pricing, and why your house could be your best performing asset class. U.S. stock market rally continued on Tuesday as investors expect the second round of fiscal stimulus by the government in the first half of this month. If you’re spending money trying to promote a product or service it is essential to be fully aware of your return on investment and return on influence.
That’s CNBC “Mad Money” host Jim Cramer shaking his head at ‘clueless’ investors who ignored multiple warning signs to buy up stocks during Tuesday’s bullish trading action.
BP’s surge, in particular, didn’t sit right with Cramer, who said it might be the “dumbest action” so far this year. “Not only are they telling you business is terrible, BP is trying to distance itself from crude while preserving cash, but maybe that dividend hike was a mistake,” he said.
In Sorrento’s case, Cramer pointed out the stock barely rallied last week when the company announced a new saliva-based Covid-19 test that yields results within half an hour. But then on Tuesday, the stock surged for the same reason. “The stock market’s supposed to be efficient,” he said, “but somehow it took Wall Street six days to process this news.”
Watch this clip:
As for Wednesday’s session, more stupidity? The Dow was up more than 300 points, at last check, while both the S&P and Nasdaq were adding to recent gains, as well.
“Are any of these moves the fault of the Fed?” Cramer wrote in a separate take. “No, the fault, as Cassius tells us, is not in our stars like Trump or Powell, but in the buyers themselves.”
Author: Shawn Langlois
Terra College Foundation gets grant for financial literacy education
FREMONT – The Terra College Foundation has been awarded a new grant to help area students with financial literacy.
Beth Bower, a Terra College Foundation grant writer, said Wednesday the foundation was one of four organizations statewide to get grants through Ohio’s commerce department.
The Ohio Department of Commerce Division of Financial Institutions announced last week the four organizations will receive funding to provide financial literacy education to children and young adults as part of the Financial Literacy Education on the Road program.
The grant, totaling $46,510, was divided among Terra College Foundation, Federal Credit Union, Junior Achievement of Mahoning Valley and Ohio University Credit Union.
Terra’s grant is for $8.985, Bower said.
In Charge Solutions instructors will travel to Fremont, Clyde, Tiffin, Sandusky, Port Clinton, and Gibsonburg to deliver financial education to K-12 and post-secondary students.
Bower said class sites have yet to be determined, but she anticipates classes being taught at local libraries and schools, with video classes also a possibility.
“But we’d rather have them in person,” Bower said.
Classes through the financial literacy program should start in the fall.
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The Terra College Foundation has previously been awarded other financial literacy grants, but had never taken those classes on the road to reach students in its service area, Bower said.
She said classes through the new grant will be provided to grade levels K-2, 3-8 and grade 9-post-secondary students.
Younger students will learn about making spending decisions and saving money, while students in grades 3-8 will learn basics about investing and comparison shopping.
“A lot of people that age, they see something and get it without checking prices at other stores,” Bower said.
The high school and post-secondary students will learn about cars and loans, credit cards, banking services and consumer privacy issues.
Bower said she anticipated 100 students taking part in the program on each of the three levels.
Residents with questions about the program can call Bower at 419-559-2381 or email email@example.com.
Ripple Reveals New XRP Investment in Push for Mass Adoption of Cryptocurrency Banking Platform
Ripple’s investment arm Xpring is throwing three more years of support into the development studio XRPL Labs and its crypto banking platform Xumm in a push for mass adoption.
Warren Paul Anderson, Xpring’s head of developer relations, says the company views the Xumm platform as “one of the best representations of the XRP Ledger.” The banking app allows users to hold and spend Ripple’s native token XRP with the goal of allowing people to be their own bank. In the long haul, XRPL Labs says Xumm plans to give people a way to spend dollars, euros, and XRP without the assistance of a financial institution.
First unveiled in 2019, Xumm has been in public beta since March. XRPL Labs says Ripple’s continued support will help drive the widespread adoption of its XRP-focused platform.
“With Xpring supporting XRPL Labs with an additional investment to support the next three years of growth and development of its Xumm App & Platform, XRPL Labs will be able to focus on their road map, working towards adoption, XRP ledger accessibility & building the bridge between consumers, businesses and developers.”
The startup’s new mid-term to long-term roadmap for Xumm includes adding fiat on and offramps while also introducing a new amendment to the XRP Ledger called “Hooks.” The proposed change will offer new business logic functionalities such as automatic saving and tipping as well as blocking of transactions related to scam activities.
WSJ Wealth Adviser Briefing: Biotech Stock Thrills, Airline Pricing Upheaval, Best Performing Asset
Investors love baseball references. Let the ball come to you; wait for the fat pitch; don’t swing for the fences. Doug Foreman, 63, is guilty of using the occasional baseball cliché, but he also has firsthand experience succeeding in both. A top-ranked high school player, Foreman was invited to try out for the Los Angeles […]
Author: WSJ Staff
Stock Market News for Aug 5, 2020
U.S. stock market rally continued on Tuesday as investors expect the second round of fiscal stimulus by the government in the first half of this month. Better-than-expected economic data also strengthened investors’ confidence. All three major stock indexes closed in green.
The Dow Jones Industrial Average (DJI) finished in positive note for three successive days after gaining 0.6% or 164.07 points to close at 26,828.47. Notably, 22 components of the 30-stock blue-chip index ended in the green while 8 finished in red.
The tech-laden Nasdaq Composite ended in positive territory for five consecutive days to close at 10,941.17, rising 0.4%. This marked a new closing high for the tech-heavy index while in intraday trading, Nasdaq Composite attained a fresh all-time high at 10,941.91. This reflected the 30th all-time highs achieved by the index so far this year.
Meanwhile, the S&P 500 advanced 0.4% to end at 3,306.51. This marked the three-day winning streak and the first closing of the broad-market index above 3,300 since Feb 21. The Energy Select Sector SPDR (XLE), the Real Estate Select Sector SPDR (XLRE) and the Materials Select Sector SPDR (XLB) climbed 2..4%, 1.5% and 1.4%, respectively. Notably, nine out of eleven sectors of the benchmark index closed in positive territory while two in negative territory.
Oil giants like Exxon Mobil Corp. (XOM – Free Report) and Chevron Corp. (CVX – Free Report) surged 2.9% and 2%, respectively. Both stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The fear-gauge CBOE Volatility Index (VIX) was down 2.1% to 23.76. A total of 9.7 billion shares were traded on Tuesday, lower than the last 20-session average of 10.4 billion. Advancers outnumbered decliners on the NYSE by a 1.98-to-1 ratio. On Nasdaq, a 1.55-to-1 ratio favored advancing issues.
Market participants appear to be betting on progress toward a fresh fiscal stimulus. However, a meeting between House Speaker Nancy Pelosi, Treasury Secretary Steve Mnuchin and White House chief of staff Mark Meadows failed to deliver any conclusion.
The Democrats want the previous $600 per week unemployment benefit to continue while the Republicans want it to reduce to $200 per week. However, Mnuchin said the two sides have agreed for direct cash payments of $1,200 to most Americans despite disagreements.
The Department of Commerce reported that factory orders climbed 6.2% in June after jumping 7.7% in May. The consensus estimate was for an increase of 4.8%. However, factory orders declined 10.1% in July year over year. Shipments of core capital goods (excluding aircraft) increased 3.3% in June. This metric is used to calculate business equipment spending in the GDP report.
Transportation equipment orders surged 20.2% after skyrocketing 78.8% in the prior month. Orders for motor vehicles and parts jumped 86.2%. Machinery orders increased 3.0% and orders for electrical equipment, appliances and components rose 1.9%.
The Department of Commerce reported sales of domestic vehicle grew to 11.2 million in July from 9.6 million in June. Total vehicle sales rose 14.5 million in July from 13.1 million in June. The consensus estimate was 14 million.
As per CoreLogic, home prices increased by 4.9% annually in June compared with the 4.1% annual rise in May. Prices hiked 1% sequentially marking the fastest monthly gain since 2013.
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Business Development Return On Investment During New Normal
In the marketing world, many businesses focus on ROI (return on investment). However, when the business does not obtain the immediate monetary results it desires, the decision makers begin to pull away from social media marketing. This is especially true with ROI during a time of crisis, such as the pandemic.
But, there is another side of the coin called return on influences, says social media marketing expert Christopher Tompkins.
“Many businesses have begun investing more time and money into individuals or organizations who can represent their brand and bring credibility and value,” says Tompkins, founder, head strategist, and CEO of The Go! Agency. His latest book is The Go Method: 22 Simple Steps to Creating a Social Media Strategy That Works!
If you’re spending money trying to promote a product or service, Tompkins says it is essential to be fully aware of your return on investment and return on influence. There are a few things to consider first:
Know how to budget correctly. “So many people think that spending thousands of dollars on advertising will result in a huge win for their company,” says Tompkins. “Yes, more money can result in a greater ROI, but, what if you don’t have thousands to spend in order to acquire new customers? You need to be smart and strategic with what you do have. You’ll want to know as much about your target audience as possible. Don’t waste your money showing your ad to everyone in the world, when you could be showing your ad to just your target audience.”
Know your KPIs and marketing goals. “Speaking of being strategic, you must know your KPIs (key performance indicators),” says Tompkins. “These are specific S.M.A.R.T. goals (specific, measurable, attainable, relevant, time-bound) that you can keep track of as your campaign progresses. Without these, you’re making business decisions that are based on feelings instead of figures. If you aren’t careful, you could be spending money on marketing efforts that end up in little to no results.”
Know how to track your ROI using analytics. “If you don’t already have traffic tracker set up on your website, what are you waiting for?” asks Tompkins. “This is one of the easiest ways to see your website traffic, where they came from, and what pages on your website had a greater increase in visitors than others. Most social media sites offer their own specialized pixel so you can maximize your advertising spend with them, enabling you to only pay for when someone clicks through to your site.”
Know your measurements…and what they mean. “When you are measuring your level of influence, there is not a fancy equation that will help you deliver the ideal metric,” says Tompkins. “Each business has its own needs and its own unique focus. Is it important for you to have a high number of people connected to your profiles? Then the size of your audience will be something that you will want to measure and keep track of. Are you looking to get your audience engaged with your content actively? Then you want to track likes, comments, reactions, and shares. Want to use social media links as calls to action to visit your website? Then you need to track the amount of traffic that you are generating via each site.”
My advice: social media augments marketing and branding efforts, it is not the whole effort. Each social media channel can serve as a branding and expertise hub where a business can illustrate to its target-rich audience the value that the brand brings to the table and why the decision makers need to be interested. Remember, nothing invested means nothing gained.
Author: Henry DeVries