Market summary 8th August
Market Summary - 8/8/2023
Amidst a quiet backdrop with minimal market-shaking news, most investors have their sights set on the ongoing earnings season. This focus is expected to pivot later in the week, especially with the CPI announcement lined up for Thursday. Today's trading session presented a contrast to Friday's. While Friday wrapped up near its trading range's lower end, today concluded much closer to its high. Such unpredictable fluctuations can drain portfolios if one gets caught in the frenzy of overtrading.
While trading activity on the NYSE showed promising signs today, the Nasdaq registered a tilt towards net lows. Disturbingly, the count of new lows on the Nasdaq reached a peak, a sight not witnessed since May. Despite this, the current market scenario seems to reflect a standard consolidation. It's noteworthy that the Nasdaq is merely 2% shy of its 50-day moving average, even after consistent weeks of robust gains. But the rise in net lows paired with the surge in new lows serves as a cautionary flag. Like many early indicators, this might be fleeting, but it's crucial to stay observant.
While trading activity on the NYSE showed promising signs today, the Nasdaq registered a tilt towards net lows. Disturbingly, the count of new lows on the Nasdaq reached a peak, a sight not witnessed since May. Despite this, the current market scenario seems to reflect a standard consolidation. It's noteworthy that the Nasdaq is merely 2% shy of its 50-day moving average, even after consistent weeks of robust gains. But the rise in net lows paired with the surge in new lows serves as a cautionary flag. Like many early indicators, this might be fleeting, but it's crucial to stay observant.
$Tesla (TSLA.US)$ ‘s CFO is being replaced, reason is unknown.
$Palantir (PLTR.US)$ earnings are out
- **GAAP Net Income**: $28 million (3rd consecutive profitable quarter)
- **Operating Income**: $10 million (2% margin, 2nd consecutive profitable quarter)
- **EPS**: GAAP $0.01, Adjusted $0.05
- **Revenue**: Up 13% YoY to $533 million
- **Commercial**: Up 10% YoY to $232 million
- **US**: Up 20% YoY to $103 million
- **Government**: Up 15% YoY to $302 million
- **International**: Up 31% YoY to $76 million
- **Customer Growth**: 38% YoY, 8% QoQ
- **US Commercial**: Up 35% YoY (119 to 161 customers from Q2 2022 to Q2 2023)
- **GAAP Net Income**: $28 million (3rd consecutive profitable quarter)
- **Operating Income**: $10 million (2% margin, 2nd consecutive profitable quarter)
- **EPS**: GAAP $0.01, Adjusted $0.05
- **Revenue**: Up 13% YoY to $533 million
- **Commercial**: Up 10% YoY to $232 million
- **US**: Up 20% YoY to $103 million
- **Government**: Up 15% YoY to $302 million
- **International**: Up 31% YoY to $76 million
- **Customer Growth**: 38% YoY, 8% QoQ
- **US Commercial**: Up 35% YoY (119 to 161 customers from Q2 2022 to Q2 2023)
$Super Micro Computer (SMCI.US)$ is making new high again, the leader of the current market!
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