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Wednesday, June 26

The overall market is currently experiencing normal macro volatility.

Some of the largest moves in the market today include: US Dollar Index has experienced a move of +0.3%. USD/CNH has experienced a move of +0.2%.

Mortgage applications in the US rose by 0.8% in the third week of June, marking a 17.5% increase since early this month and reaching their highest level since January due to lower mortgage rates below 7%.

European markets are experiencing heightened volatility on June 26 amid concerns over potential debt crises and political uncertainties ahead of French parliamentary elections.

Inflation data from Australia showed stickier-than-expected price increases, causing global bond yields to rise as investors anticipate tighter monetary policies.

Lastly, Nvidia's recent substantial loss in market capitalization has raised fears of broader corrections that may impact both American and European equity indices negatively.

UUP [+0.4%]
The US Dollar Index is likely moving due to the dollar's strength against major currencies, supported by higher bond yields and weaker yen levels. Concerns about potential rate cuts in Europe and upcoming elections are influencing market sentiment towards the dollar. Risk appetite shifts related to inflation data releases and geopolitical events such as French elections may also be impacting the asset.

USO [+0.6%]
Crude oil prices rose due to geopolitical tensions involving Russia, the U.S., Houthi rebel attacks, lower Russian exports impacting global supply, and concerns over Iran's post-election relations. The unexpected increase in US crude inventories led to less volatility in United States Oil Fund LP compared to historical norms on such announcements.

RIVN |+40.4%|+6.7B
Rivian's stock surged significantly following Volkswagen's $5 billion investment and joint venture announcement, signaling a transformative move for both companies. The partnership aims to accelerate VW's SDV plans while providing liquidity to Rivian, potentially boosting its financial stability as it prepares to launch new vehicle models in the coming years. Analysts view this deal positively for leveraging each other’s strengths effectively amidst the competitive EV landscape.

WHR |+17.9%|+1.0B
Whirlpool Corp's stock surged on reports of a potential takeover bid by German engineering group Robert Bosch, coinciding with Whirlpool's operational restructuring. This news boosted market interest and led to positive investor sentiment within the sector. Additionally, Electrolux shares rose in response to this development, indicating broader industry excitement.

FDX |+14.6%|+10.6B
FedEx Corp reported strong Q4 earnings, beating EPS and revenue estimates. Their FY2025 guidance of $20-$22 per share indicates confidence in future growth. The company is reassessing FedEx Freight's role to enhance shareholder value while focusing on service quality. Market reacted positively post-announcement with a surge in after-hours trading, potentially outperforming sector peers recently.

MU | +2.4% | +3.8B
Micron Technology Inc is expected to see potential growth with a $225 price target set by Rosenblatt Securities, anticipating over 60% upside. The upcoming Q3 earnings report and Samsung's plan to raise DRAM/NAND prices are driving pre-market gains. Analysts predict positive news ahead, supported by increasing demand in AI applications. Construction delays may impact future chip production projects for MU amidst its current sector outperformance due to these factors and more key areas of interest during the quarterly results.

GIS |-4.7%|-1.7B
General Mills Inc reported Q4 earnings beating EPS estimates but missing revenue expectations. Despite lower sales, the company plans to drive growth through innovation and brand investments in core markets for FY2025. The social media buzz highlights a slight increase in organic net sales forecast compared to analyst estimates for 2025.

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