TSLA
Tesla
-- 421.060 NVDA
NVIDIA
-- 134.700 PLTR
Palantir
-- 80.550 AMD
Advanced Micro Devices
-- 119.210 RGTI
Rigetti Computing
-- 9.3700 
Wall Street Today: JPMorgan warns of dot-com era 'bull trap' in Ark fund
Stocks set to dip, treasuries up amid growth worry: markets wrap
Asian stocks look set to follow U.S. shares lower Friday after concerns about the economic growth outlook came to the fore. Treasury yields retreated and the dollar held an advance.
Federal Reserve Chair Jerome Powell overnight defended the central bank’s accommodative stance in the face of uncomfortably high inflation. Officials expect a transient surge in price pressures amid the reopening from the pandemic, but some others fear stickier inflation that could hurt the economic outlook.
JPMorgan strategist warns of dot-com era ‘bull trap’ in Ark fund
Cathie Wood’s flagship ETF is showing many of the bubble-like traits seen in growth-based funds in 2000 and investors should consider betting against it with options, according to JPMorgan Chase & Co.’s Shawn Quigg.
The derivatives strategist reckons a second-half increase in Treasury yields could trigger declines for the $ARK Innovation ETF (ARKK.US)$, which is up about 19% since mid-May.
Intel is in talks to buy GlobalFoundries for about $30 billion
$Intel (INTC.US)$is exploring a deal to buy GlobalFoundries Inc., according to people familiar with the matter, in a move that would turbocharge the semiconductor giant’s plans to make more chips for other tech companies and rate as its largest acquisition ever.
A deal could value GlobalFoundries at around $30 billion, the people said. It isn’t guaranteed one will come together, and GlobalFoundries could proceed with a planned initial public offering.
AMC, GameStop swing as meme stocks run out of air
$AMC Entertainment (AMC.US)$and $GameStop (GME.US)$swung wildly on Thursday, extending a bout of volatility that has delivered deep cuts to small investors this week.
The precipitous downward trajectory for shares championed by individual investors on social media and in online forums underscores the fragility of the market for these small stocks. Retail trading has become a force in markets this year, as the combination of stay-at-home orders and the proliferation of free trading apps brought many people into stocks and options for the first time.
Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact
Treasury Secretary Janet Yellen told CNBC on Thursday that she expects the U.S. economy will see “several more months of rapid inflation.”
She expects prices ultimately will fall back to more normal levels, and cited market-based inflation measures as proof that longer-term expectations remain in check.
However, she expressed concern about the impact on lower-income homebuyers at a time when housing prices are soaring.
Oatly short seller says stock worth less than $10 after accusing company of overstating revenue
Short seller Ben Axler said Thursday that $Oatly Group AB (OTLY.US)$’s stock is worth less than $10 a share.
Axler’s firm, Spruce Point Capital Management, released a report Wednesday with a number of allegations against Oatly, including overstating its revenue and gross margins.
The company has denied the allegations, calling the claims “false and misleading.”
Elon Musk admits Tesla’s Cybertruck could flop
$Tesla (TSLA.US)$CEO Elon Musk admitted Thursday the Cybertruck might flop but said he doesn’t care because he loves its unusual trapezoid-like design.
He also reminded fans about promised features such as four-wheel steering and the lack of door handles.
Jack Dorsey says Square will launch bitcoin DeFi platform
Jack Dorsey on Thursday put his mobile payments company $Block (SQ.US)$at the centre of one the most talked-about areas of innovation in finance, announcing that it would launch a platform for developers to create “decentralised finance” projects built on bitcoin.
In a Twitter thread, Dorsey said that Square planned to create a “new business” with the “goal of making it easy to create non-custodial, permissionless, and decentralised financial services”, in what would mark one of the first big projects of its kind in the nascent market.
Jack Dorsey on Thursday put his mobile payments company $Block (SQ.US)$at the centre of one the most talked-about areas of innovation in finance, announcing that it would launch a platform for developers to create “decentralised finance” projects built on bitcoin.
In a Twitter thread, Dorsey said that Square planned to create a “new business” with the “goal of making it easy to create non-custodial, permissionless, and decentralised financial services”, in what would mark one of the first big projects of its kind in the nascent market.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Recap US
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
39KFollowers
26Following
46KVisitors
Follow
skinny pig : I bought ARKK when it was high. Hoping it recovers to my price before crash !
Rajesh2331 : care full
GOOBERHAG : The only cuts AMC is making is for the shorting hedge funds. Its pretty easy to search and see that shorts are hurting but it's not mentioned here much.
102539170 skinny pig : Must learn to screen stocks properly and know when to buy n sell.
SoSi801 : Wall Street vs Wall Street Bet
Episode 100 the great bubble.
70497039 : amc moon
ArquiTech : Cool
102844042 : I think more like we will bet against JP Morgan. These institutions are never concerned about the retail investors. They usually make use of retails to reap profits thru long and short as when they like to.
MySGX : Good
Blue Cat : Cool
View more comments...