Wall Street Breakfast July 10: What Moved Markets This Week

Alpha TALKS is a weekly podcast covering what moved markets this week, featuring a panel of Seeking Alpha editors. The video can be seen on SeekingAlpha.com or our YouTube channel.Hosted by Nathaniel E. Baker, Contributing Editor, and featuring:Aaron Task, VP Contributor Content and co-host Seeking Alpha's Alpha Trader podcast;Brad Olesen, VP News;Steve Alpher, Managing Editor News, co-host Alpha Trader.Big Picture (0:53)Stocks were poised for a down week before an announcement ahead of Friday's open from Gilead (GILD) on a study for its COVID-19 drug remdesivir that improved risk appetite. Tech stocks rallied during the week, with the QQQ ETF (QQQ) hitting a record on Thursday. Financials struggled ahead of second quarter earnings next week. Money continues to flow to trends.Winners & Losers (3:41)Airlines were among the biggest losers, with the U.S. Global Jets ETF (JETS) down almost 6% for the week. Exploration and production companies also suffered, with Devon Energy (DVN) down more than 12% and Marathon Oil (MRO) giving up close to 13%. Cruise lines had a tough week again, though positive earnings from Carnival (CCL) buoyed losses a bit.What Caught Our Eye This Week (12:17)Steve: Ivy Leagues cancel fall sports. A sign of things to come? Might the NFL follow?Brad: Trend-following has taken over the narrative;Aaron: 3 Explosive Growth Stocks With Outstanding Management Teams, by Andres Cardenal and SMART Stocks Are The New FANG, by App Economy Insights;Nat: Nikon: Not Only A Camera Company With An Upside Of 50%+, by Andriy Blokhin.In Closing (20:11)Gold: fresh new all-time highs coming soon? It's been quiet, at least compared with some other asset classes. What's going on in China? A lot of volatility in their stock markets. Watch this space. Learn more about your ad choices. Visit megaphone.fm/adchoices