We recently compiled a list of the 12 Stocks Under $5 With Biggest Upside Potential. In this article, we are going to take a look at where OPKO Health, Inc. (NASDAQ:OPK) stands against other stocks under $5 with biggest upside potential.
On January 20, Bloomberg reported that relief swept through the markets as it became clear that Donald Trump would not immediately impose China-specific tariffs on his first day in office, sparking a rally in US equity futures and a decline in the dollar. According to people familiar with the plans, the Trump administration is pivoting towards a more engagement-oriented approach with Beijing, rather than pursuing another trade war. The administration also plans to issue a memorandum directing federal agencies to study existing trade policies and relationships with China, Canada, and Mexico, rather than imposing new tariffs.
This change in strategy has been welcomed by investors, who were concerned that a trade war with China could have significant negative consequences for the global economy. The relief has propelled US equity futures higher, with contracts on the S&P 500 rising 0.5%. The dollar, on the other hand, slumped, with a gauge of the dollar dropping as much as 1.1%. Additionally, Trump's conversation with China's leader Xi Jinping, which he described as "very good", boosted Asian stocks on Monday. However, not all markets were positive, after Trump announced plans to invoke emergency powers to boost domestic energy production while shifting away from renewable sources.
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In an interview with CNBC on January 20, Stanley Druckenmiller, Chairman and CEO of Duquesne Family Office, a financial services company, shared his insights on the markets and the incoming administration. Druckenmiller began by describing the current state of the economy, noting that the United States is experiencing a very low unemployment rate of around 4% and a strong GDP growth rate of 3%. He mentioned that, in his 49 years of experience, the country is likely transitioning from the most anti-business administration to the opposite, which has led to a significant shift in business confidence.
According to Druckenmiller, CEOs are feeling "somewhere between relieved and giddy" about the change in administration. He cited a recent statement by Paul Ryan that discussed a 32% increase in business confidence over the last 12 months, which Druckenmiller believed was likely a record. This surge in confidence, combined with the strong economic indicators, suggests that the economy will remain robust for at least the next six months. Druckenmiller's firm is a believer in the concept of "animal spirits," which refers to the idea that business confidence and sentiment can have a significant impact on economic activity.