S&P 500 No Longer Climbing, Market Held Up By Tech
Morning moomoo! Happy Wednesday, June 26th.
My name is Kevin Travers, the heat broke in Jersey City, and the heat in my comment section came up with a source: good morning mooers translates to "good morning idiots."
Anyway, good morning, here are stories from the moomoo herd on Wall Street today.
$FedEx (FDX.US)$ climbed 14% after the firm reported Tuesday that it saw adjusted Q4 earnings of above expectations and $5.41 on revenue of $22.1M and that it is conducting an assessment of costs after cutting 16% of spending compared to last year. It was the highest gainer on the S&P 500.
$Rivian Automotive (RIVN.US)$ climbed 28% after a deal with VOlkeswagon that dropped last night. The German car giant will invest $5B in the cash-strapped American EV startup and help develop vehicle software.
$Grindr (GRND.US)$ climbed 11%, one of the top advancers on the market after the firm announced revenue guidance for 2024, which saw 25% growth year over year. Happy pride month.
The Integrated freight industry was the highest climbing industry tracked by moomoo, up 4.4% following FedExs cost cutting stock jump.
In commodities Wendesday, Gold and Silver fell, alongside falling crude oil futures and Bitcoin prices, all down within 50-100 bips.
As a general recap, the S&P 500 is pulling back Wednesday morning, down 0.10%, Just past 10:46 am EST. The index hit a recent all-time high last Thursday and remains far above the symbolic 5k point level broken at the beginning of the year.
The $Dow Jones Industrial Average (.DJI.US)$ was falling 0.31%, and the $Nasdaq Composite Index (.IXIC.US)$ remained in the green, up 0.29%. 6800 equities fell Wednesday morning, compared to just 3200 climbing.
In macroeconomics, Federal Reserve Bank of Chicago President Austan Goolsbee gave a dovish stance for rate cuts Monday. In an interview on CNBC, Goolsbee said there are new signs of stress on the economy that should make the U.S. central bank examine its rate stance.
"There are a couple of warning signs," Goolsbee said, including "What seems to be a cooling of consumer spending." He also pointed to a rise in jobless claims and a spike in consumer delinquencies on credit-card debt.
San Francisco Federal Reserve President Mary Daly also said she sees more work for higher interest rates to do to reduce demand and control inflation in the U.S. economy.
Investors will watch for the final GDP data for the first quarter on Thursday, which is expected at 3.1%, and PCE inflation data on Friday, which is expected at 2.6% compared to last month's 2.7%.
User Stryker Ace said there were two-year waitlists to get new pools in AZ, which feels like demand should be higher. It might explain why $Whirlpool (WHR.US)$ stock soared 11% Wednesday morning on news Bosch might buy the brand- maybe consumer improvement is not a down industry.
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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Joey Hall508 : I saw one of their new SUV/truck with a extremely beautiful woman driving it. I was looking at her but saw Rivian on the front. Nice looking SUV. Beautiful woman. I bought the stock later that day. 11. lots of good news. High expectations. Bottom fell out. Never got the woman. watched it bounce around for a couple of days scratching my head and other places. Woke up with the VW news. Heard them say that VW had no clue about EV. They threw money at Rivian and I put a 16 sell order in and took a crap and it was gone when I came back. Got a drink and it was at 14t and changed. Decided to go look for the woman again. I guess that's how you trade stocks now. Reading crap doesn't work. please advise????????
Kevin Travers OP Joey Hall508 : That is amazing
Space Dust : the market held up by ten or so stocks is the biggest red flag.
into so few companies, especially when TAIWAN is the main LYNCHPIN.
. they matter..
in 1 
.. once again Taiwan.!
..
WISE investor would what? 2 CHOICES
would know better.HEY NO BETTER TIME TO BUY IN, than right when it is at the HIGHEST POINT 
EVER .
scamming suckers.
1.)
2.) GEOPOLITICS people.
3.)
4.) the USA can't defend Ukraine, Israel, and Taiwan all at
a
1. diversify out.. RAPIDO!.
2. LEAVE the market altogether.
plus, the charts don't look good when they are up so high.
who would buy INTO that? a CHILD
LITERALLY WHO?
stocks are nowhere near as fun as cash real estate deals!
I prefer those for big paydays!
no DARK POOL
Stock_Drift : Dropped off a bit on the overnight market.
haron : ok
EddyHamster GrayMan : nooo....you should short the lady and long Rivian.....why want to long long wait for lady?
Magin justin GrayMan : Bars
GrayMan EddyHamster : it's ok to bag hold if that's your jam, I'm cool!
GrayMan Magin justin : and Stripes, let the eagle fly...
NSIKAN DICKSON :