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Moovin Stonks | Bank Stocks Falling, Market Teetering on Edge
Good morning, traders. Happy Tuesday, September 10th. Stocks were trying to climb this morning, but toward 11 am ET they began to fall. My name is Kevin Travers; here is a quick roundup of stonks moovin on the U.S. stock market today.
Oracle $Oracle (ORCL.US)$ shares were up more than 11% Tuesday after multiple analyst price target raises followed the company's fiscal Q1 results. The database management company reported late Monday higher fiscal Q1 non-GAAP earnings and revenue, which exceeded estimates. It was the highest advancing stock in the S&P 500.
Shares of Hewlett Packard Enterprise $Hewlett Packard Enterprise (HPE.US)$ dropped 7% Tuesday after the company said it had commenced a public offering of $1.35 billion of Series C mandatory company convertible preferred stock. The firm had the second highest decline on the S&P 500, behind $Synchrony Financial (SYF.US)$, which fell 7%.
Within industries tracked by moomoo, banks fell Tuesday after news that the Fed may require 9% capital reserves at the largest banks, higher than June's rumor of 5%, but below the 19% originally put forward. The news came in from the Federal Reserve Vice Chair for Supervision, Michael Barr, according to Seeking Alpha.
$JPMorgan (JPM.US)$ fell 5%, the lowest on the Dow Jones, $Discover Financial Services (DFS.US)$ fell nearly 6%, $Goldman Sachs (GS.US)$ fell 3%.
$Crude Oil Futures(FEB5) (CLmain.US)$ They fell below 18-month lows yet again on Tuesday. OPEC+ released its demand outlook Tuesday and trimmed its expectations for the year, one week after delaying its plan to pump more oil after prices hit a 2024 bottom.
$Bitcoin (BTC.CC)$ hovered near $56k, Gold climbed back about $2,500. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.
Within indexes, tech held the Nasdaq higher while the S&P 500 and Dow struggled with bank reserve news.
Just past 11:21 am ET the $S&P 500 Index (.SPX.US)$ climbed 0.15%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.38%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.38%.
This week in macro, investors are waiting for Wednesday's Core CPI numbers for August. PPI and initial jobless claims will be released on Thursday.
Last week, just before the blackout began in the lead-up to the FOMC September 17-18th rate decision meeting, investors also got word from New York Fed President John Williams Friday that it is time to cut rates.
Speaking toward the Council on Foreign Relations, Williams said the economy is balanced, and inflation is tracking lower, and "it is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate."
Last Friday, the economy added 142k nonfarm payrolls last week, and the Unemployment rate landed at 4.2% in August, according to the Bureau of Labor Statistics. Payrolls were below expected by 20k, but fit the narrative of softening labor in the U.S. that investors have come to expect.
Tonight is the first debate between Former President Trump and Vice President Harris, we will watch it live somewhere on moomoo.
Interested in Options? To see these stocks and more on the options page, click here. Want to learn more about options, check out moomoo education with this link. Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge.
Yesterday, one user pointed out a small stock $Wheeler Real Estate Investment Trust Inc (WHLR.US)$ that rocketed from $1 to $12 in just 36 hours.
Traders, have you seen crazy stock moves like that? 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!
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.
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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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Space Dust : WHLR Wheeler has gone from $1 to $15 in 2 days and is still a top mover.
why isn't it part of your discussion?
Would you provide some insight as to why?
Clement Lemons : okk
Simon 5183 Space Dust : Are you going to stand guard at the high position now?
Space Dust Simon 5183 : what in the world does that even mean?
trading. this is
moomoo is a great platform, and many new individual traders, and others that have cut the tether of having their broker " guy/gal/them" and trying to see if we have the juice.
many more are KIDS paper
called " moving" stocks..
and geared towards education as moomoo is in general, why wouldn't one of the biggest STOCK MOVES IN THE MARKET..
TOP TRENDING SEARCHED STOCK..
be a part of the discussion?
I'm thinking, EVERYONE WISHES to be a part of something like that, no?
Kevin Travers OP Space Dust : Thanks for asking about this! Wheeler is a really small company, with just $9m market cap, stocks with mk that small can move severely with barely any reason why.
This podcast focuses on +$1b market cap stocks moving over 7%, or the top gainers and decliners on the indexes: only stocks that have major news that truly make the market “move.” I also mentioned wheeler in this article, just for you. These reasons of selection are both for compliance/legal reasons, and because there are over 4300 equities listed on moomoo that are moving up more than 0.1%, and there is only so much time to write about any of them. Where are you seeing wheeler as a trending stock, I want to learn what users are talking about as much as I can—- that is exactly why I ask users what they are watching at the end of the article. I can’t cover everything, but we can talk about what you are watching if you respond!
Space Dust Kevin Travers OP :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
very well explained answer.
thank you.
小小4 Space Dust : You guess.