Apple Hits Record After Selling the AI News, Market Slow | Herd on Wall Street Podcast
Morning mooers! It's Tuesday, June 11th. The market hit highs yesterday and is pulling back, the story of June so far.
My name is Kevin Travers, here are stories from the herd on Wall Street today.
$Apple (AAPL.US)$ was the highest gainer on the S&P 500 and Dow up about 3% after investors sold the news Monday when the firm announced Apple Intelligence- upgrades to Sirir that use GTP 4 to help answer questions and generate text, and images. The stock hit a record Tuesday morning just below $203/share.
$Zimmer Biomet Holdings (ZBH.US)$ was the lowest decliner on the S&P 500, down 5% after the firm entered an agreement to sell knee surgery robots.
$Autodesk (ADSK.US)$ fell 3%, the lowest decliner on the Nasdaq 100 after the firm reported Q1 revenue that beat estimates.
$Shoals Technologies (SHLS.US)$ was the highest gainer on the Russel 2000, up 10% after a repurchase agreement for $25M in shares. $CoreCivic, Inc. (CXW.US)$ was one of the lowest decliners, down 18% after suspending its year guidance after receiving a notice from the US Immigration and Customs Enforcement canceling its agreements.
In sectors, publicly listed Consumer Tech companies climbed by about 3% following Apple's record share jump. It was the best-performing industry group tracked by moomoo.
Gold climbed about 19 bips, Silver fell 1.81%. Crude oil futures fell about 26 bips. Bitcoin pulled back 3%, sending multiple crypto stocks falling more than 4%.
As a recap just past 10:20 AM EST, the $S&P 500 Index (.SPX.US)$ was lower 0.35%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.63%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.12%.
Overall, 7600 equities fell on the U.S. market, while 2700 climbed.
This week, investors can expect CPI, but most importantly the FOMC rate decision. The Fed will also display its economic predictions, a dot plot of where members of the Open Market Committee see rates in the coming months, and signal how many rates cuts it expects to make for the remainder of the year.
Last week, investors watched labor data that appeared too hot for the possibility of a rate cut.
Friday, the nonfarm payrolls release showed employment grew by 100k more jobs in May than in April, as the economy added 272,000 jobs.
Yesterday, User Rockhoundj said I needed to slow down, but the news is TOO FAST
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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105039351 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
105039351 : Thank you all for your support
71403390 : Wall Street and buzz words like little kids thinking there is a new candy when it’s really just 1 year old snicker with a different wrapping
Kevin Travers OP 71403390 : Its like they just added the features copilot already had
73372627 71403390 : Agree, is just what Bob told in his song: Blowing in the wind
Gggggggggggggggggghh : Whatever artificial intelligence name you gonna give it at the end of the day it’s gonna produce the same thing man-made and coated by human same skill set different manufacturer name
Violets : I agree with Musk....bye privacy