TSLA
Tesla
-- 421.060 NVDA
NVIDIA
-- 134.700 PLTR
Palantir
-- 80.550 AMD
Advanced Micro Devices
-- 119.210 QUBT
Quantum Computing
-- 17.620 
Wall Street Today | S&P 500 Records are Back, Baby
Thursday, the market climbed after the FOMC announced the first rate cuts in four years Wednesday. The S&P 500 and Dow closed at records, the S&P 500 hitting a closing high for the first time since July. $Tesla (TSLA.US)$ climbed 7%: the whole of the mag seven reached higher by more than $465B in market cap in trading session according to Bloomberg data.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ traded 1.70% the $Dow Jones Industrial Average (.DJI.US)$ climbed 1.26%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 2.51%.
MACRO
The Federal Open Market Committee lowered the target Federal Funds rate by 50 basis points Wednesday, 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.
SECTORS
Thursday, the market climbed after the FOMC announced the first rate cuts in four years Wednesday. The S&P 500 and Dow closed in records, the S&P 500 hitting a closing high for the first time since July. $Tesla (TSLA.US)$ climbed 7%, up 5% at one point!
$Crude Oil Futures(FEB5) (CLmain.US)$ climbed past $70, climbing on market exuberance from rate cuts, and news of increased violence between Isreal and Lebanon.
MOOVERS
$FedEx (FDX.US)$ Shares fell 9% after reporting adjusted EPS of $3.80 vs estimates of $3.60 missed $4.80 on sales of $21.6B missing $21.95B estimates. The firm sees full-year adjusted EPS in a range of $20 - $21, while estimates on the street wanted $20 - $22. The shipping firm, called an economic bellwether by Bloomberg TV reporters, said it felt weaker demand than it had expected.
Olive Garden owner $Darden Restaurants (DRI.US)$ struck a delivery deal with Uber Technologies, hoping it will be enough to make up for the decline in same-store sales and consumer demand it reported Thursday morning. Shares climbed 7%, the highest on the S&P 500, though the firm missed adjusted earnings estimates and showed a 1.1% drop in same-store sales. It said its fiscal year was still on track and that July and August were slow for restaurants.
Shares of cloud-based visual work operating system $monday.com (MNDY.US)$ rose more than 6% intraday Thursday, surpassing the $275 mark -- a two-and-a-half-year high.
Tesla shares, alongside $Alphabet-A (GOOGL.US)$, $Alphabet-C (GOOG.US)$, and even $NVIDIA (NVDA.US)$ pulled back in the third quarter after a blistering year of stock price gains. Since mid-July, Tesla has fallen about 7% and fell 25% in July alone. Even near-perfect estimate matching or beating earnings were not enough to keep Mag 7 stocks on their meteoric climbs. Even with the July and August pullback, Tesla is up 15% annually.
$Airbnb (ABNB.US)$ climbed 7%, swapping out with Darden every few minutes for the top slot after the firm received analysts' updates. Evercore analysts raised their price target on the stock.
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Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. 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 regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. 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 regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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john song : k
102181510 : o.k
Leila Yang : If the rate cut continues cut to the 4.00 , that would help the growth stocks going higher because the borrower will have more money to buy more products in and shipping out
Bullish Law : good cut
Laine Ford : good
affable Blobfish_403 : The US stock market is volatile, and the election power is temporarily in the lead. We continue to observe. Trump said the Fed is making a big rate cut, either playing politics or the economy is very bad. I think this makes sense.
Laine Ford : no comment now
peyjaa : $USD/MYR (USDMYR.FX)$
74423696 : I love that