Moovin Stonks | Oil, Silver, Market Climbs after PPI Rises
Afternoon traders, and happy Thursday, September 12. The market continued its trend Thursday in a general climb. Wednesday's turnaround kept on going on. PPI inflation data came in higher, oil climbed on hurricane news: My name is Kevin Travers; this is a round-up of moovin' stonks today.
Moderna $Moderna (MRNA.US)$ shares fell more than 18% in recent Thursday trading after the company said it is reducing its annual R&D expense by about $1.1 billion starting in 2027 in light of "recent commercial challenges." The company now expects 2025 revenue of $2.5 billion to $3.5 billion. Analysts polled by Capital IQ expect $3.95 billion.
$Petco Health and Wellness (WOOF.US)$ climbed 19% after climbing 14% Wednesday, despite a revenue decline and adjusted loss reported Tuesday night. The stock jumped Thursday after Roaring Kitty reposted a Reddit post that read, "Woof is going bananas. Who's here with me?" Friday, analysts at Citi and Goldman covered the stock Thursday.
$Warner Bros Discovery (WBD.US)$ stock popped 4%after the entertainment company announced a multiyear distribution agreement with Charter Communications on Thursday. The deal will bring Max, Discovery+, and all Warner Bros channels like Food Network to Spectrum TV.
$The Kroger (KR.US)$ climbed 4%, the highest on the S&P 500 after the firm swung to a profit in its latest quarter but fell short of Wall Street predictions, while sales for the Cincinnati-based grocery company grew less than forecast. The stock climbed 4.8% Thursday. Sales came in at $33.91 billion, ticking up 0.2% from a year earlier but below estimates of $34.09 billion.
Silver stocks were the highest trending industry on moomoo Thursday, as Silver to USD climbed nearly 4% to $29.
$Crude Oil Futures(OCT4) (CLmain.US.US)$ climbed nearly 3% after Hurricane Francine made landfall Wednesday night.
$Bitcoin (BTC.CC.CC)$ climbed back up $58k, Gold pulled back from its high. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
The market continued its trend Thursday on a general climb, with every sector on the S&P 500 in the green.
Just past 1:25 pm ET the $S&P 500 Index (.SPX.US)$ climbed 0.60% the $Dow Jones Industrial Average (.DJI.US)$ fell 0.41%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.86%.
Last week, the number of Americans who applied for unemployment benefits rose slightly to 230,000. There was no sign of widespread layoffs even as the job market cooled, and the numbers were in line with the yearly average.
PPI data released Thursday also showed Producer prices climbed month over month, 0.3% Core and 0.2% normal, including energy and food. In the lead-up to the FOMC rate cut meeting next week, every indication of inflation is vital.
Wednesday, investors received inflation macro data. Consumer prices grew 2.5% year over year, the lowest CPI year-to-year growth from the Bureau of Labor Statistics since the beginning of the pandemic. Year-over-year Core CPI, which excludes energy and food, is unchanged from last month's 3.2%. Month over month, Core CPI climbed from 0.2% to 0.3%.
Last week, 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."
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, users said division and argument was an illusion to keep the world distracted.
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!
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
Comment
Sign in to post a comment
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
3882Followers
553Following
8935Visitors
Follow
Stock_Drift : Good afternoon, Kevin.
EZ_money : silver is the new gold
Bullish Law : good report as usual