Account Info
Log Out
English
Back
Download
Log in to access Online Inquiry
Back to the Top

Investors Wake up to Advancing Market After Presidential Debate and PCE Unchanged | Herd on Wall Street

avatar
Kevin Travers wrote a column · Jun 28 09:47
Morning traders! Happy Friday, June 28th. Investors are reacting to the Trump Biden debate, which to me, felt like two old men were angry at bingo night at the old folks home.
My name is Kevin Travers; here are stories from the moomoo herd on Wall Street today.
$Nike (NKE.US)$ fell 15% after reporting earnings Thursday, meeting EPS expectations but announcing weak guidance for the coming quarter. CFO Mathew Friend said the firm expects a single-digit decline in reported revenue during the earnings call. The stock was the highest decliner on the S&P 500, and Dow Jones Industrial Average
$Chewy (CHWY.US)$ was falling 10% after a Twitter post from Roaring Kitty of a cartoon dog. The stock saw a 34% jump as investors hoped the post hinted at the dog food company, then gave back the climb.
$Infinera (INFN.US)$ climbed 17%, after news that Nokia planned to acquire the networking equipment company in  a  $2.3B deal.
In industries tracked by moomoo, Semiconductors were back on top of those advancing.   $Advanced Micro Devices (AMD.US)$ was the highest advancer in the top 10 industry stocks.
Investors Wake up to Advancing Market After Presidential Debate and PCE Unchanged | Herd on Wall Street
In commodities, gold climbed just 0.8%, silver climbed 1.23%. Crude oil futures fell 0.89%, while bitcoin pulled back 0.74%.
As a general recap, indexes were advancing Friday morning. Just past 10:45 am EST, the S&P 500 climbed 0.58%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.63% and the   $Nasdaq Composite Index (.IXIC.US)$ climbed 0.56%. 6600 equities advanced overall compared to just 3400 falling Friday morning.
Investors Wake up to Advancing Market After Presidential Debate and PCE Unchanged | Herd on Wall Street
In macroeconomics, PCE inflation data came in right as expected Friday morning. Core prices advanced 2.6% year over year, and just 0.1% in May, while regular Personal Consumption Index prices remained unchanged.
Thursday's 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.
Yesterday, users said the market would react to last night's debate with new highs, and so far they are right on target!
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. 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 having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
29
1
+0
28
Translate
Report
582K Views
Comment
Sign in to post a comment

View more comments...

avatar
Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
6339Followers
620Following
17KVisitors
Follow
More from Kevin Travers