Earnings Season Still Printing Stock Changes | Herd on Wall Street
Morning retail investors! Happy Thursday, June 27th: it's almost Friday! Investors can watch for the Trump-Biden debate tonight in the run-up to this year's presidential election, catch discussion here on moomoo.
check out my trip theough iceland::
My name is Kevin Travers, our team is hosting a corn hole tournament on Governors Island to celebrate another successful year at moomoo; here are stories from the moomoo herd on Wall Street today.
$BlackBerry(BB.US$ climbed 14% after posting an adjusted loss of 3C a share on a net loss of $42M, but above estimates of a worse loss.
$Walgreens Boots Alliance(WBA.US$ was falling 22%, its lowest prices since 1997 after the store chain said it would cut its own earnings guidance and said it would close poorly performing stores. It was the lowest declining stock on the S&P 500 and Nasdaq 100.
$McCormick & Co(MKC.US$ climbed 6% to the highest gaining position on the S&P 500 after the spice company reported Q2 earnings that beat expectations. The firm boasted earnings of 69 cents a share, beating Wall Street's call for 59 cents.
Within industries tracked by moomoo, Paper and Paper products climbed 10%, led by a 13% jump in $Suzano(SUZ.US$ in part after news the firm would no longer attempt to buy $International Paper(IP.US$, which fell 9%.
In commodities Thursday, Gold, Silver and crude oil futures fell climbed about 1% while Treasuries fell. Bitcoin climbed 2% to $62k/coin.
In the hour after the open Thursday, the $S&P 500 Index(.SPX.US$ climbed 0.13%, the $Dow Jones Industrial Average(.DJI.US$ climbed 0.12%, and the $Nasdaq Composite Index(.IXIC.US$ climbed 0.26%. The S&P 500 and Nsdaq are almost at record territory a week after hitting fresh highs.
Overall, 3500 equities fell while 6600 advanced.
In macroeconomics, GDP numbers for the first quarter are finalized at a growth rate of 1.4%, falling from Q4 2023's 3.4% growing economy. Initial jobless claims came in at 233k, lower than expected.
Fed speakers this week gave conflicting guidance on rate cuts. Monday saw Federal Reserve Bank of Chicago President Austan Goolsbee give a dovish stance for rate cuts, while San Francisco Federal Reserve President Mary Daly also said she sees keeping rates higher.
Investors will watch for PCE inflation data on Friday, which is expected at 2.6% compared to last month's 2.7%.
Yesterday, users were talking about Rivian stock, which saw a blow up after $5b in cash but experienced a pullback Thursday morning.
Mooers, what are you watching today?
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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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70795269 : I'm just watching to see biden try to talk and maybe even fall off the stage
LittleSoldier : God, I wish!
Or maybe all the Democrats will get arrested for elderly abuse!!!!!
71866178 LittleSoldier : tribalism is exactly why the 1% corporate government don't give two turds about what you think. Wake up
Joseph Brooks : Let’s go Brandon
Thui Sik Yuh LittleSoldier : Kindly
70135330 : Maybe you should set the opposite way flying down, that's all I've been seeing for the last 4 years
Troll Hunter 71866178 : don't turn the heat up too much. snowflakes melt. then they'll call you woke.
not-a-cow : Trump-Putin 2024!
Edozz : Positive either way. If trump wins the market will react in a positive manner because most people understand a trump presidency will be better for growth. If Biden wins it will show investors that we aren’t being led by someone who is completely brain dead.
Edozz 5060 : I said most people. Some are definitely mentally challenged. Appreciate you reinforcing my belief.
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