Welcome to the MarketReader Minute.

Below are AI-generated insights on today’s premarket moves, powered by MarketReader technology.

If you find the insights useful, you may subscribe to our new sector-specific newsletters or share this on Twitter.

Monday, November 11

Some of the largest macro moves in the market today include: Gold -1.6%. Oil (WTI) -2.6%. US Dollar Index +0.6%. Some of the largest moves among US mega-cap stocks include: Tesla Inc (TSLA) +6.8%. JPMorgan Chase & Co (JPM) +1.1%. Berkshire Hathaway Inc (BRK.B) +0.6%. 

The market is currently experiencing significant movements following the recent U.S. elections, where Donald Trump secured a second term as president and Republicans are poised to gain control of both chambers of Congress. This political shift has led to increased investor optimism regarding potential pro-business policies, including tax cuts and deregulation, which have contributed to sharp gains in equity markets; for instance, major indices like the S&P 500 reached record highs last week.

In addition to domestic developments in the U.S., economic data from China continues to raise concerns about growth prospects. Recent reports indicate that China's inflation rate fell below expectations at 0.3% for October while producer prices dropped by 2.9%, marking ongoing deflationary pressures amid weak consumer demand despite government efforts aimed at stimulating recovery through fiscal measures such as a substantial debt relief package.

Market participants are also closely monitoring upcoming economic indicators set for release this week—including key inflation figures from the United States—amid speculation on how these will influence Federal Reserve policy moving forward. The anticipation surrounding these releases coincides with fluctuations in currency values; notably, there has been strength in the U.S dollar against other currencies due largely to heightened expectations around Trump's administration's impact on trade dynamics and monetary policy adjustments.

United States Oil Fund LP (USO) [-2.4%]
U.S. crude oil prices are experiencing downward pressure, with WTI trading significantly lower, reflecting a broader decline in commodities. Concerns over weak demand growth in China, coupled with expectations of increased U.S. output following the recent presidential election, are contributing to a negative market outlook for oil. Additionally, more than a quarter of oil production in the U.S. Gulf of Mexico is currently offline. Russian officials are also considering a merger of major oil companies, which could reshape market dynamics and potentially create the world's second-largest crude producer. These factors collectively underscore the challenges facing the oil market, as evidenced by Brent Spot Oil's recent performance.

SPDR Dow Jones Industrial Average ETF Trust (DIA) [+0.4%]
The SPDR Dow Jones Industrial Average ETF Trust (DIA) has seen a price increase of 0.4% since Friday. The Dow Jones Industrial Average has risen significantly year-to-date, reflecting a strong market response following Donald Trump's election victory, which has contributed to the broader market gains. Over the past week, major indices have performed well, with the Dow climbing notably. This positive momentum is complemented by substantial increases in the S&P 500 and Nasdaq. Among DIA's holdings, notable contributors include Goldman Sachs, Caterpillar, and Salesforce, each delivering positive returns. Additionally, upcoming U.S. economic data releases, including CPI and PPI inflation reports, are expected to influence market dynamics. The Russell 2000 Index has also increased, suggesting a broader market sentiment that may correlate with the recent movement in DIA.

TSLA | +6.3% | +69.2B
Tesla Inc | Automobile Manufacturers
Tesla Inc has experienced a notable price surge, with its stock moving higher in tandem with the broader Automobile Manufacturers sector. This increase comes in the context of Donald Trump's recent election victory, which has bolstered market sentiment and expectations of pro-business policies, contributing to significant gains across U.S. equities. Tesla's market capitalization has surpassed $1 trillion for the first time since 2022, following a substantial increase in its stock price last week. Reports indicate that hedge funds shorting Tesla have incurred considerable losses since the election. Analysts remain optimistic about the company's prospects, with raised price targets reflecting anticipated benefits from the political landscape. Despite challenges in Europe, including declining sales figures, Tesla's stock continues to demonstrate robust performance.

COIN | +13.4% | +10.1B
Coinbase Global Inc | Financial Exchanges & Data
Coinbase Global Inc (COIN) has experienced a notable price increase of over 13% since Friday. Social media discussions from November 10 and 11 highlighted a symmetrical triangle breakout, suggesting a generally positive outlook despite recent earnings challenges. Notably, a significant price level of 280 was mentioned, along with a gap below that may warrant attention. Additionally, a user identified a "golden reversal setup" with an inverted hammer pattern, which previously led to a price movement of $150 within a week. Coinbase exhibits strong institutional ownership at 68.8% and high volatility, with a beta of 3.34. The company maintains a net margin of nearly 30% and a return on equity of 14.81%. Analysts show favorable sentiment toward Coinbase, reflected in its ratings, with ten buy ratings and a consensus score of 2.45. The firm is outperforming its peers in the Financial Exchanges & Data sector.

DJT | +7.9%| +478.4M
Digital World Acquisition Corp
Digital World Acquisition Corp, saw its stock price rise significantly in premarket trading, following a substantial increase on Friday. This uptick comes amid volatility linked to recent U.S. election results, particularly influenced by Donald Trump's victory. Despite a prior sharp decline, renewed interest in the stock suggests a recovery trajectory. Concerns remain regarding the company's fundamentals, as it reported minimal revenue for the third quarter against a high market capitalization. Additionally, social media discussions highlight concerns about stock manipulation, with South Korean regulators increasing market surveillance on DJT. Trump has called for investigations into illegal short selling and stated his commitment to holding accountable those involved in market manipulation, asserting he will retain his shares. Posts indicate a potential rise in DJT's stock price following these comments, with increased trading activity noted.

HOOD | +6.5%| +1.9B
Robinhood Markets Inc | Investment Banking & Brokerage
Robinhood Markets Inc has seen significant insider share sales, with Director Malka Meyer disposing of over 3 million shares across several transactions, and CFO Jason Warnick selling 50,000 shares. Collectively, insiders have sold shares valued at approximately $97 million. Concurrently, CEO Vlad Tenev announced a new election prediction market that has garnered considerable trading volume, exceeding 400 million contracts on Election Day. Recently, the company reported quarterly earnings of 17 cents per share and revenue of $637 million. Social media activity highlights a notable increase in Robinhood's stock value, with reports of it rising over 10% in overnight trading. Additionally, Robinhood holds about 32.2 billion Dogecoin, representing over 22% of the total supply, generating considerable buzz among users. In broader market movements, the Russell 2000 Index has increased, reflecting a positive sentiment that may also be influencing Robinhood's performance.

MNDY | -12.9% | -1.8B
Monday.Com Ltd | Systems Software
Monday.com Ltd reported its Q3 2024 results, revealing an adjusted earnings per share (EPS) of 0.85, surpassing the estimate of 0.63, and revenue of 251 million, exceeding the expected 246.1 million. The company anticipates Q4 revenue between 260 million and 262 million, closely aligning with consensus estimates. For the full fiscal year 2024, total revenue is projected at 964 million to 966 million, slightly above the consensus of 960.23 million. Non-GAAP operating income for Q4 is expected to range from 29 million to 31 million, indicating an operating margin of 11% to 12%. Despite these positive results, shares dropped significantly following the announcement, with a notable decline of 16.6% shortly after the earnings release. Social media reports highlight a year-over-year revenue increase of nearly 50% and a dollar retention rate of 111%.

Thank you for spending a minute with us. 

If you have 2 more minutes, watch this demo of the MarketReader Platform: