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      Can the Santa Claus rally happen after the Fed's hawkish cut?
      Views 1.3M Contents 208

      Fear calms. Sentiment remains fragile. Back up the truck but be selective. Look at Nvidia, Palantir, Nike, ACDC for example

      avatar
      Jessica Amir joined discussion · Dec 20, 2024 00:47
      Investors are selectively buying the dip as you’d expect after US stocks suffered their biggest one day sell off since August.
      Dip buying saw the major US indices pretty much close flat on Thursday. But remember, we all know the Fed choked the Santa rally. Sentiment was battered. The S&P 500 $S&P 500 Index (.SPX.US)$ fell back to where it was six weeks ago, and that’s where stocks still are. Sentiment remains fragile and investors are on guard ahead of options expiry tonight in the US. However, last night, investors felt somewhat encouraged thanks to stronger-than-expected US economic growth data from last quarter. They also liked Nike, a consumer bellwether for spending, delivering a turnaround earnings report. Nike $Nike (NKE.US)$ shares jumped 8% after hours. Across the ditch, the Bank of England delivered a narrative suggesting markets could get a Valentine’s Day interest rate cut in February.
      QQQ Invesco QQQ Trust
      514.170
      -2.300
      -0.45%
      Post-Market Trading
      Dec 19, 2024 19:42 ET
      Although market fear remains high—above where it’s traded all year—we need to remember this is when some fund managers love to buy the dip.
      Why? Well, people are still worried about another pullback. And that can’t be ruled out, especially as some investors have taken out leverage on some of this year’s biggest momentum stocks. This could lead to more sells in those. BTIG said the Fed pullback seemed to mark the end of a move lower, not the start of another, implying the market sell-off could be over. While Tom Lee says to back up the truck as this is a buying opportunity. But I think we need to be mindful and selective. What I mean by that is—look at stocks that are already down from their highs and now moving up or have catalysts to move higher, such as Nvidia. Shares rose 1.4% overnight, but its stock has been pulling back since November. It’s down 12% after a sell-off, so it’s seeing dip buying. Palantir shares moved up 3.8% overnight. And it just was added to the Nasdaq 100 index.
      NVDA NVIDIA
      130.500
      -0.180
      -0.14%
      Post-Market Trading
      Dec 19, 2024 19:42 ET
      Moving to Australia’s market. It’s on track to close the week down 2.4%, at levels we last hit in September.
      Now the market is down 5% from its high, but we’re still holding a gain of 6.7% this year, which is the biggest since 2022. Now we’re in technical oversold territory, suggesting the selling could be over. But we have to wait and see what happens over the coming days. Regardless, there’s always a bull market somewhere. This week’s biggest gains have been in travel-related stocks, as you’d expect this time of year. Siteminder $SiteMinder Ltd (SDR.AU)$ the world’s largest hotel platform, shares are up 10% this week. Toll road operator Transurban $Transurban Group (TCL.AU)$ also generally does well with traffic increasing this time of year. It’s collecting a lot of revenue—they operate 18 of Australia’s 22 toll roads. Transurban shares are up 6% this week.
      VAS Vanguard Australian Shares ETF
      100.510
      -1.130
      -1.11%
      Trading
      Dec 20, 2024 11:43 AET
      TCL Transurban Group
      13.290
      -0.160
      -1.19%
      Trading
      Dec 20, 2024 11:43 AET
      SDR SiteMinder Ltd
      6.255
      -0.135
      -2.11%
      Trading
      Dec 20, 2024 11:43 AET
      And last but not least, critical minerals and battery metals are in the limelight.
      Pilbara Minerals $Pilbara Minerals Ltd (PLS.AU)$ Australia’s biggest lithium company, hit a new multi-year low yesterday. And now the technical indicators suggest it’s oversold.
      It’s also worth watching not just lithium, but EV stocks, as the EV industry could gain considerable traction next year—not only in Australia with the Federal election but globally, as Tesla’s battery maker and the world’s biggest battery maker, CATL, is seeking to raise $5 billion to list on Hong Kong. The ACDC $Global X Battery Tech & Lithiu (ACDC.AU)$ is one ETF to perhaps watch. Basically, watch EV stocks, as CATL listing in HK simply means it can move quicker in developing faster-charging and cheaper batteries that travel greater distances. This also means Tesla $Tesla (TSLA.US)$, VW and BYD $BYD COMPANY (01211.HK)$ might be able to drop prices of their EVs, and that would encourage sales given EV batteries are the most expensive part of the car. And for us as consumers—this is also a win too. As the EVs of our future will be faster, cheaper, and require less charging. So the future is looking bright.
      ACDC Global X Battery Tech & Lithiu
      85.890
      -0.100
      -0.12%
      Trading
      Dec 20, 2024 11:43 AET
      01211 BYD COMPANY
      268.600
      -1.200
      -0.44%
      Not Open
      Dec 20, 2024 00:43
      TSLA Tesla
      431.530
      -4.640
      -1.06%
      Post-Market Trading
      Dec 19, 2024 19:43 ET
      PLS Pilbara Minerals Ltd
      2.080
      -0.050
      -2.35%
      Trading
      Dec 20, 2024 11:49 AET
      Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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