Kitty Has a New Chew Toy | Wall Street Today
Happy Monday, July 1st, the start of the year's second half and third quarter.
Indexes traded higher Monday, while overall, there were more declining equities than advancing. Just after the 4 pm close, the $Dow Jones Industrial Average(.DJI.US$ climbed 0.13%, while the $S&P 500 Index(.SPX.US$ climbed 0.27% after hitting a fresh all-time high Friday at the close of the first half of the year.
The $Nasdaq Composite Index(.IXIC.US$ similarly hit all-time highs Friday, and climbed 0.84% Monday. It is a short trading week with an early close on Wednesday before the Fourth of July and no trading on the American Independence Day celebration. Here are stories from the moomoo herd on Wall Street today.
MACRO
Monday, the S&P Global US manufacturing index for June was downwardly revised to 51.6 from the flash reading of 51.7, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:50 am ET. The three-month high index stands above the 51.3 reading in May, indicating expansion. meanwhile, ISM Manufacturing's PMI for June came in at 48.5 vs. 49.2 estimated on Monday.
Friday, with Wall Street likely to closely watch the U.S. government’s June employment report due out before the bell. Wall Street will want to gauge how many jobs the U.S. economy created in June, with a weaker, less-inflationary number possibly pointing toward future Federal Reserve rate cuts.
SECTORS
Within industries tracked by moomoo, public digital currency miners were climbing, following a 0.39% climb in Bitcoin. The crypto fell below $60k/coin last week. $TeraWulf(WULF.US$ climbed 17%, $Cipher Mining(CIFR.US$ climbed 13%.
Oil futures climbed on Monday as prospects for strength in summer demand and a fifth consecutive drop in the number of active U.S. oil-drilling rigs helped lift prices to their highest settlement in more than two months.
West Texas Intermediate $Crude Oil Futures(AUG4)(CLmain.US$ for August delivery rose $1.84, or 2.3%, to settle at $83.38 a barrel on the New York Mercantile Exchange. That was the highest front-month contract close since April 26, according to Dow Jones Market Data.
Oil traders are "racing to add positions before the widely expected deficit in the second half of the year," said Manish Raj, managing director at Velandera Energy Partners, told MarketWatch Monday.
Gold and Silver both climbed, Gold up 0,24%, Silver climbing 1.04%. Rates on U.S. government debt finished at their highest levels in about three weeks on Monday, as traders focused on the prospects of continued federal deficits after November's presidential election and structurally higher inflation.
MOOVERS
$GameStop(GME.US$ Corp. Chief Executive Ryan Cohen made his first post on X in months Monday, again using the social-media platform to advertise job openings at the videogame retailer. The firm's stock fell 5.5%.
$Chewy(CHWY.US$ may have attracted the wrong pack of investors. Following news that Keith Gill, the influential retail trader known by his online moniker "Roaring Kitty," disclosed a 6.6% stake in the online pet retailer. The stock jumped 8% at open before falling back 6%. The 9 million shares he holds are worth $225 million.
$Tesla(TSLA.US$ was the highest advancing stock on the S&P 500, up about 6% in the lead-up to the firm's delivery announcement and quarterly sales figures Tuesday. Wall Street expects lower numbers than the year-ago quarter when the firm said it produced 479,700 cars and sold 466,140 units. According to Benzinga, a consensus estimate shared by fund manager Gary Black puts deliveries at 440,000 units for the second quarter. A "whisper number ," is far less at 420,000 (a 10% drop), Black said.
$Boeing(BA.US$ will acquire $Spirit Aerosystems(SPR.US$ in an $8.3 billion deal that would reverse their 2005 separation as the troubled aircraft manufacturer continues its quality and safety improvement efforts. The all-stock transaction values Spirit AeroSystems at $37.25 per share, or $4.7 billion. According to a statement Monday, the total value of roughly $8.3 billion includes Spirit's last reported net debt.
$EVe Mobility Acquisition Corp(EVE.US$ shares plunged 19% after the company said it got $94 million in new equity financing from multiple investors.
My name is Kevin Travers, I am posting this update at the market close this week as Wall Street Today in a test crossover episode; let me know what you think about the format. Last week, users debated over the presidential debate.
ooers, 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.
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Zam Kasim : Penny stock not stable at all
EZ_money : you make it like it's a stupid challenge who can have the highest market cap and be completely overvalued...who will reach 4 trillion first? this is stupid and seems like a marketing ploy to continue pumping market up
EZ_money Zam Kasim: they never are hardly. because retail shorts are too scared and cheap to play the higher priced stocks
101550592 :