AI Goes Nuclear | Moovin Stonks |

Kevin Travers joined discussion · Sep 20, 2024 22:40

Good morning, traders. Happy Friday, September 20th. The market pulled back this morning after the S&P 500 and Dow hit all-time record closes yesterday. Nine out of 11 sectors of the S&P 500 were falling, but energy stocks climbed: in the pursuit of AGI, Microsoft and OpenAI are planning to revive Three Mile Island.

My name is Kevin Travers; here stonks and stories mooving the U.S. stock market today.

$FedEx (FDX.US)$ fell 14% Friday morning, the lowest on the S&P 500, after reporting weaker earnings and demand for the past quarter than estimated Thursday night. $United Parcel Service (UPS.US)$ also fell after FedEx lowered its full-year 2025 revenue guidance after its operating results fell during the "challenging quarter" due to lower demand and increased costs.

$Constellation Energy (CEG.US)$ climbed 13%, the highest on the S&P 500 after news that $Microsoft (MSFT.US)$ struck a deal to use energy from Unit 1 of Three Mile Island for data centers to run artificial intelligence software and cloud computing. Unit 1 is next to Unit 2, the site of a partial meltdown that caused panic and evacuation of the Susquehanna River Valley in Pennsylvania in 1979. The revamped power plant at Unit 1 is expected to come online in 2028 and will generate 800 megawatts of electricity for the grid, create 3,400 jobs, and add $16 billion to the state's economy. . $Vistra Energy (VST.US)$ another power generator climbed 7% on the news.

$Nike (NKE.US)$ also climbed 5% after news CEO John Donahoe was stepping down, with firm veteran Elliott Hill taking the reins on October 14th.

Within industries tracked by moomoo, Uranium stocks climbed 7% following the AI and data center-based energy consumption news.

$Crude Oil Futures(MAY5) (CLmain.US)$ remained at $70, gold and silver climbed to new highs. $Bitcoin (BTC.CC)$ hovered at $63k. The $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.

The index market fell back from highs Friday.

Just past 10:36 am ET the $S&P 500 Index (.SPX.US)$ fell 0.32%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.14%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.35%.

The Federal Open Market Committee lowered the target Federal Funds rate by 50 basis points, citing the progress in inflation and slowing job gains. Policymakers took the rate to a range of 4.75 to 5%, noting that the committee has gained greater confidence that inflation is moving sustainably toward 2%.

Futures numbers tracked by CME FedWatch tool expected a 50 bp cut. Based on the Fed's dot plot of rate expectations, they put a midpoint rate target at about 4.4% by the end of 2024, meaning a range of about 4.20%-4.60%, or two 25 bps cuts at each of the next two meetings.

Fed Press Conference Broadcast, Reposted by moomoo

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Yesterday, users said the market finally looked healthy again.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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