Wall Street Today | Morgan Stanley's Wilson Says Broader Layoffs Would Be Bull Sign for Stocks
MACRO
Morgan Stanley's Wilson Says Broader Layoffs Would Be Bull Sign for Stocks
"When that layoff cycle picks up in earnest that will actually be one of the keys for us to get bullish because that means the bleeding will stop on the operating leverage," the top-rated strategist told Bloomberg TV on Monday.
SECTORS
Energy Sticker Shock Grabs Spotlight Before Midterms
Elevated fuel prices and shortages remain a concern for U.S. consumers ahead of Tuesday's midterm elections, in which energy costs have become a crucial campaign issue.
After a steady decline this fall, the average price of unleaded regular gasoline has been ticking up again, reaching $3.80 a gallon on Sunday, according to AAA. It is also $1.40 higher than when President Biden took office.
Consumer Confidence in the Housing Market Hits a New Low, According to Fannie Mae
In October, just 16% of consumers said they thought now is a good time to buy a home, according to a monthly survey by Fannie Mae. That is the lowest share since the survey began in 2011. The share of respondents who thought now is a good time to sell a home also dropped from 59% to 51%.
Short-ARKK Fund Celebrates First Birthday Up 110% Since Launch
The $Tradr 2X Short Innovation Daily ETF (SARK.US)$, which uses swap contracts to track the inverse performance of Wood’s main fund, has soared more than 111% since launching one year ago. That’s the second best performance among the nearly 450 ETFs that launched over the past year, Bloomberg data show.
COMPANY
Activision Blizzard Beats Estimates, Boosted by Mobile Games
$Activision Blizzard (ATVI.US)$ beat analysts' estimates for bookings and profit in the third quarter, boosted by its mobile gaming division.
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Trump-Linked Stocks Rally on Possible 2024 Presidential Run
Shares of $Digital World Acquisition Corp (DWAC.US)$, the blank-check company looking to take Donald Trump's social media venture public, rallied 66% on Monday over the former president's possible run for the 2024 presidential election. Software developer $Phunware (PHUN.US)$, which was hired by Trump's 2020 presidential reelection campaign to build a phone app, jumped 38%.
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Elon Musk Says Twitter Will Permanently Ban Users Who Impersonate Others
Elon Musk is cracking down on people who impersonate others on Twitter. The move is one of the first by Mr. Musk, a self-described free-speech absolutist, to tighten $Twitter (Delisted) (TWTR.US)$'s free-speech policies. He said Sunday that impersonating accounts will be permanently suspended unless they are specified as parody.
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Lyft Rides Price Increases to Record Revenue, but Stock Still Sinks
$Lyft Inc (LYFT.US)$ attracted fewer customers in the third quarter than Wall Street expected, but record-high ride-hailing prices sent the company to its highest quarterly revenue ever anyway, executives said Monday. Lyft shares fell more than 14% in after-hours trading immediately following the release of the results.
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Take-Two Stock Tumbles After It Cuts Outlook
$Take-Two Interactive Software (TTWO.US)$ stock dropped more than 16% in extended trading on Monday after the company said its outlook in the current quarter and in early 2023 would be significantly lower than previously expected.
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Source: Bloomberg, Dow Jones, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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72926050 : Big company collapse is it
Braight : Kind of ironic n sad to hope for broader layoffs so stock market can go up. Capitalism at its best
KingNY-Life : This is just nonsense, these capitalists are so bad