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Mid Week Session Ends With Stalled Market

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Kevin Travers wrote a column · Oct 3 04:19
Mid Week Session Ends With Stalled Market
The market fell Wendesday morning, but moved toward a flat sideways crawl by the afternoon.
MACRO
US September ADP Nonfarm Employment came in at 143,000 vs 124,000 forecasts, higher than last month's 99,000.
Meanwhile, crude oil inventories came in much higher than estimated: firms added 3.889M barrels compared to a cut of 4.471M last week.
SECTORS
Within industries tracked by moomoo, $Bilibili (BILI.US)$ was still leading live streaming services higher, climbing 83% in the past eight days on Chinese stimulus. Live Streaming stocks were up 7%, and BILI was climbing 7%.
$Crude Oil Futures(FEB5) (CLmain.US)$ climbed again following an Iranian missile barrage on Israel Tuesday. The IDF reported little damage, and Israel and its allies have not announced or taken retaliatory action.
Mid Week Session Ends With Stalled Market
$Bitcoin (BTC.CC)$ fell toward $60k, gold fell while silver kept climbing $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
MOOVERS
Mid Week Session Ends With Stalled Market
$Tesla (TSLA.US)$ fell 5%, at one point the lowest on the Nasdaq after it posted Q3 deliveries that grew YoY and QoQ. The firm shipped 462,890 vehicles during the July-to-September period, nearly on point but 1,003 less than the highest of estimates. The result was a 6.4% increase over the third quarter of last year when its sales were impacted by factory upgrades that paused production.
$Humana (HUM.US)$ shares fell 17%, the lowest on the S&P 500 after the firm warned its insurance plans were facing a potential cut in the Medicare rating system. According to preliminary ratings released last night, Humana is facing a star rating cut: about 70% of its 4.5-star rated plans would fall to 3.5, meaning 15% less government rebates.
Nike $Nike (NKE.US)$ shares were down nearly 8% intraday Wednesday trading after the company reported lower fiscal Q1 earnings and an 8% drop in revenue, and cut its Q2 guidance to another loss of 8-10% YoY. The company reported fiscal Q1 earnings late Tuesday of $0.70 per diluted share, down from $0.94 a year earlier. Revenue for the quarter fell to $11.59 billion from $12.94 billion a year earlier. The firm also slashed guidance
$Novavax (NVAX.US)$ rose more than 20% intraday Wednesday after Jefferies issued a positive note on the biotech's prospects for the coming COVID-19 vaccine season.
$Levi Strauss & Co. (LEVI.US)$ fell slightly post-market after the firm beat estimates for adjusted EPS but missed revenue estimates by about $34m.
$Ciena (CIEN.US)$ is up more than 7% after announcing Wednesday that its board has authorized a $1 billion share buyback program that will begin in fiscal 2025 and run until the end of fiscal 2027.
Shares of $Joby Aviation (JOBY.US)$ took off Wednesday on news of another investment from Toyota Motor. JOBY rose as much as 27.9% to a $6.14 intraday high after the companies said that Toyota will invest an additional $500 million in the aerospace start-up to support the certification and commercial production of its electric air taxis.
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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
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TSLA
Tesla
-- 421.060
PLTR
Palantir
-- 80.550
NVDA
NVIDIA
-- 134.700
OXY
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