The MarketReader Minute
The fund's performance may be influenced by potential bullish sentiment above $92.06 or bearish sentiment below $91.00, as indicated by calculated pivot points using the DeMark method. This movement coincides with a -0.80% drop in Oil (WTI), which correlates with XLE's performance.
The MarketReader Minute
Some of the largest macro moves in the market today include: Bitcoin -1.6%. A50 Index (China) -1.3%. Hang Seng 50 Index (China) -1.1%.
The MarketReader Minute
IQV surged after reporting strong second-quarter results and raising its annual profit forecast. IONS saw an increase in share price following positive results from the HALOS Study of ION582 in Angelman syndrome patients, positioning it as a potential cornerstone drug for neurological conditions.
The MarketReader Minute
Tesla's positive change driven by various factors including Q2 earnings anticipation and business plans. McDonald's Corp saw a 0.7% increase due to extended meal deals amid high customer traffic but faced pullback post-price hike; Stifel analyst maintained Hold rating with reduced price target.
The MarketReader Minute
News of China cutting interest rates, potential U.S. interest rate cuts, and geopolitical developments influenced oil prices positively, contrasting the performance of technology and communication sectors.
The MarketReader Minute
Notably, Charles Schwab Corp's CEO and Co-Chairman made significant share purchases, boosting stock prices by 3%. Investors are advised to consider current stock prices before Visa's Wednesday earnings announcement for a favorable entry point.
The MarketReader Minute
NVIDIA's new AI chip for the Chinese market boosted revenue expectations, Microsoft's cybersecurity risks were highlighted by an IT outage caused by CrowdStrike, Apple implemented cost-cutting measures in their Hollywood strategy.
The MarketReader Minute
Some of the largest macro moves in the market today include: Nasdaq 100 Index (US) +1.2%. S&P 500 Index (US) +0.8%. Copper -1.4%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +2.2%. Broadcom Inc (AVGO) +2.1%. Meta Platforms Inc (META) +1.7%.
The MarketReader Minute
Exxon Mobil selling Malaysian assets and Halliburton facing revenue challenges. Falling oil prices, influenced by China's demand slowdown and U.S. trade concerns, also impacted XLE.
The MarketReader Minute
American Express reported increased profit and revenue, Visa displayed long-term growth potential, and Travelers Companies maintained confidence despite missing revenue estimates.
The MarketReader Minute
TSLA notably impacted by Elon Musk's focus on self-driving technology and price changes for Model S and X. GM's autonomous driving unit, Cruise, established safety measures post-accident and sought external financing, appointing a new CEO to enhance operations amidst the U.S. operations suspension.
The MarketReader Minute
Microsoft faced a -0.5% stock price drop due to global IT outages. CrowdStrike Holdings Inc saw a notable decline following an update glitch but is viewed positively for long-term growth potential within cybersecurity despite deployment challenges.
