The MarketReader Minute
Tesla has been added to Wells Fargo's Q4 2024 Tactical Ideas List with an Underweight rating, amid concerns about delivery growth and declining auto gross margins.
The MarketReader Minute
Some of the largest macro moves in the market today include: US Dollar Index +0.4%. USD/CNH +0.3%. Gold +0.7%. Some of the largest moves among US mega-cap stocks include: Alphabet Inc (GOOG) +1.5%. Alphabet Inc (GOOGL) +1.5%. Apple Inc (AAPL) -1.2%.
The MarketReader Minute
Some of the largest macro moves in the market today include: Bitcoin -2.6%. Gold -0.8%. US 2Y Treasury Bond -0.1%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) -2.7%. Eli Lilly and Co (LLY) -1.3%. JPMorgan Chase & Co (JPM) -1.2%.
The MarketReader Minute
The Financial Select Sector SPDR Fund (XLF) has increased by 0.9% since Thursday, buoyed by significant movements among its holdings. The broader market context is reflected in the Dow Jones Index, which has risen by 1.00%, indicating a correlation that may influence XLF's price action.
The MarketReader Minute
Regeneron Pharmaceuticals (REGN) contributed positively following the FDA approval of its Dupixent for COPD treatment, marking a significant milestone as the first biologic medicine approved for this indication in the U.S. Amgen (AMGN) also saw a boost.
The MarketReader Minute
Some of the largest macro moves in the market today include: Nikkei 225 Index (Japan) -4.2%. USD/JPY -1.6%. Recent economic data from the United States indicates a slower-than-expected rise in personal spending and income for August 2024.
The MarketReader Minute
Key contributors to this performance include Exxon Mobil Corp, which announced a $10 billion investment in offshore oil operations in Nigeria, and Chevron Corp, which eased regulatory concerns regarding its merger process.
The MarketReader Minute
The Consumer Discretionary Select Sector SPDR Fund (XLY) has seen a slight price increase of 0.2% since Wednesday. Key contributors to this performance include Nike (NKE), Starbucks (SBUX), McDonald's (MCD), Royal Caribbean Cruises Ltd (RCL).
The MarketReader Minute
Micron Technology Inc. reported strong fourth-quarter results, surpassing revenue and earnings expectations, which has positively influenced its share price. Additionally, Microsoft Corp.'s substantial investment in OpenAI, now transitioning to a for-profit model .
The MarketReader Minute
Some of the largest macro moves in the market today include: USD/CNH -0.7%. Oil (WTI) -2.6%. Copper +2.3%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +2.5%. Broadcom Inc (AVGO) +1.9%. Exxon Mobil Corp (XOM) -1.7%.
The MarketReader Minute
Intel (INTC) saw its stock cross the 50-day moving average, leading to a notable rise, alongside the announcement of its Xeon 6 with AI accelerators. Salesforce (CRM) is set to acquire Zoomin to enhance its Data Cloud capabilities.
The MarketReader Minute
EOG has announced a conference call on November 8, 2024, to discuss its third-quarter results. Meanwhile, oil prices have settled higher due to Chinese monetary stimulus and ongoing supply concerns related to Middle East tensions.
