TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 AMD
Advanced Micro Devices
-- 119.210 OXY
Occidental Petroleum
-- 47.130 Wall Street Today | The Proof is in the Pudding
RECAP
It is Wednesday, April 3, and the rain is howling in Jersey City. The market started low but began to climb after a pullback day, closing in the green.
With Premilnary closing numbers, the $S&P 500 Index traded in the green, up about 0.11%. The $Dow Jones Industrial Average fell 0.11%, and the $NASDAQ 100 Index climbed 0.21%.
MACRO
Powell Wants More Proof
Fed President Jerome Powell spoke shortly after noon at a Stanford fireside chat. He said the economic outlook was still uncertain. His comments come after a day of FOMC comments and speeches. Cleveland Fed President Loretta Mester and Fed Prez Mary Daly said Tuesday they expect three interest rate cuts in 2024.
Powell's speech did not stray far from the message that there was no rush to cut rates, which he presented at his press conference last week and in a subsequent moderated discussion at the San Francisco Fed.
On Wednesday, Atlanta Federal Reserve President Raphael Bostic told CNBC that he sees the Federal Open Market Committee cutting rates just once in 2024. He expects the cut to occur in the fourth quarter.
Wednesday morning, I saw macro data from ADP and ISM. ADP found 184k new jobseekers vs. 148k expected, while ISM found a non-manufacturing PMI of 51.4 compared to expectations of 52.8 in March.
SECTORS
Oil Climbs, OPEC+ Unchanged
Oil rose to the highest in more than five months early on Wednesday after a report showed a drop in US inventories last week and higher demand for gasoline as OPEC+ staged a meeting that ended with no changes to its production cuts.
OPEC+ held a ministerial meeting on Wednesday that ended without changes to the cartel's production policy. The cartel stuck to voluntary cuts of 2.2 million barrels per day.
All Commodities Rising
Among the best-performing sectors tracked by the moomoo app were commodity companies., Silver, Uranium, and Aluminum miners and suppliers all rose.
COMPANIES
Intel Warns of Loss
$Intel was the largest decliner in the Nasdaq 100 and Dow Jones. The firm's shares traded lower Wednesday after the company disclosed that its foundry business recorded an operating loss of $7 billion last year.
1st Quarter Consumers Played More
$Dave & Buster's Entertainment climbed 10% after the firm reported earnings Tuesday, though it fell in after-hours trading.
Earthquakes Rattle TSM
$Taiwan Semiconductor was lower this morning after an earthquake rocked the small island nation. The firm said it had paused production but would resume as early as tonight.
Ulta Falls After Bad Margins Warning
$Ulta Beauty fell about 13%, the largest decliner on the S&P when JPM analysts said the company could not generate the 15% margins it needs this quarter.
Apple Looks Toward the Home
$Apple (AAPL.US)$ reportedly is looking toward a push into personal robotics, a field with the potential to become one of the company's ever-shifting "next big things," according to people familiar with the situation. Bloomberg initially broke the story.
Disney Wins the Homefront
$Disney (DIS.US)$ defeated activist shareholder Nelson Peltz in a bruising fight for influence in the entertainment giant's boardroom, handing CEO Bob Iger a major victory over one of Wall Street's most aggressive investors.
Paramount In Acquisition Deal
Paramount Reached a Deal with Redstone Private Equity for Potential Stake: Bloomberg Reports
Mooers that is the news, what do you think, why is the market rebounding already?
Source: Bloomberg, Dow Jones, CNBC, Reuters
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.
Read more
Comment
Sign in to post a comment
Moomoo Recap US
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
39KFollowers
26Following
46KVisitors
Follow
Lm1979 : How do I get my account
tangobravoromeo : The MMs did a McDs chart today & manipulatively screwed EVERYONE today — that Jack & The Beanstalk candle at 10 was heavy market manipulation after the ISM read!!