Friday's Calm Market Speaks to All's Well That Ends Well | Wall Street Today
This week was a busy one, but by Friday the market returned to its September ending mean, after a port strike paused, Chinese stocks simmered from stimulus shock, and Israel had yet to retaliate for Iranian missile strikes.
After the close, the $S&P 500 Index (.SPX.US)$ climbed 90 bps, the $Dow Jones Industrial Average (.DJI.US)$ climbed 81 bps, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 1.22 bps.
MACRO
In macroeconomic news, the market awaited labor data that came in hot on Friday. The economy added 254k new payrolls in September, compared to estimates of 147k according to the Bureau of Labor Statistics. That and the lower BLS Unemployment rate sent the market back into a climb, with nine out of 11 sectors of the S&P 500 in the green.
SECTORS
$Spirit Airlines (SAVE.US)$ sank a dramatic 25% Friday morning after reporters late Thursday the firm was in talks for a potential bankruptcy. According to the Wall Street Journal, the firm is considering a Chapter 11 filing during restructuring conversations.
Within industries tracked by moomoo, airlines were taking flight after competitor Spirit fell from cruising altitude. $Frontier Group (ULCC.US)$ soared 21%, $JetBlue Airways (JBLU.US)$ flew 15%, and $American Airlines (AAL.US)$ climbed 7%.
Shares of shipping companies dropped sharply Friday after U.S. dockworkers along the East Coast and the Gulf of Mexico agreed to end their strike after just some three days. Railroad and airfreight stocks were more muted as the prospect of extended disruption to supply chains faded Friday. U.S. dockworkers agreed late Thursday to return to work and suspended their short-lived strike until Jan. 15 after port operators sweetened their contract offer.
Shipping stocks fell as the agreement seemed to make the prospect of sustained higher freight rates unlikely.
$Hapag-Lloyd AG (HPGLY.US)$ shed as much as 15.7% to a $77.29 session low, while $ZIM Integrated Shipping (ZIM.US)$ sank 14% to $18.64 at its low point for the day and $A.P. Moller - Maersk A/S Unsponsored ADR (AMKBY.US)$ gave up 7.1% to $7.05 at its morning bottom.
MOOVERS
$Amentum Holdings (AMTM.US)$ , a newly listed stock of the S&P 500, was again one of the index's most volitile, climbing 7% Friday. After its Sept. 24 listing, the stock has flown up and down, and climbed 25% on Monday, as hedge funds and indexes buy into the stock.
Shares of $UBISOFT ENTERTAINMENT (UBSFF.US)$ surged Friday after a Bloomberg report said Chinese internet giant Tencent Holdings and the Guillemot family were considering a potential buyout of the Assassin's Creed maker.
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Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
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103735746 : ok
affable Blobfish_403 : The power of the election and the power of the market are fiercely fighting, with the power of the election currently holding the upper hand.
103916021 : k
我只想赚个买菜钱 : ok
151350542 : Am watching the quant-driven funds whose trading activity is based on Price Momemtum and Volatility. If Vol were to fall substantially and prices were to continue to rise, even modestly, they may have to come in and buy aggressively . Therefore, they may be the buying force in the next few months.
Something to keep an eye on !
Cypher : $Nasdaq Composite Index (.IXIC.US)$ climbed 122 bps, not 1.22 bps
@Kevin Travers
山芭佬 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
105447165 : nice
72547067 : haven't watched The Wall Street news today but I will