Weekly Buzz: Dow hits highs, semis pulled back, candidates hit tech stocks, and the blue screen of death
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the top ten buzzing stocks on moomoo based on search and message volumes! Comment below to answer the Weekly Topic question for a chance to win an award!
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Weekly Buzz
It was a wild week, to say the least. The market reacted Monday to an attempt on Former president Donal Trump's life at a PA rally over the weekend. Later in the week, AI stocks were hit hard when both Trump and President Biden negatively commented on Chinese chip trade and Taiwan. Friday, the market capitulated after a $CrowdStrike (CRWD.US)$ update caused a blue screen crash for millions of Microsoft systems in what was called the largest IT crash in history.
Through the volatility, the S&P 500 and Nasdaq halted their record-breaking runs on the most major Semiconductor stock pullback day all year Wednesday, while the Dow Jones Industrial Average made records of its own before the entire market pulled back Thursday and Friday.
For the week, the $S&P 500 Index (.SPX.US)$ fell 1.97%, the $Nasdaq Composite Index (.IXIC.US)$ fell 3.65%, and the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.71%.
Earnings this week saw multiple companies post near-miss earnings or earnings that beat, but guidance for the future failed to impress investors. Netflix earnings and subscribers added for the quarter beat estimates.
It was a slow week for Macro News.
Friday, investors are watching for Federal Reserve commentary. Thursday, initial jobless claim numbers increased for the week, ay 240k vs 220k expected.
Federal Reserve Gov. Christopher Waller said Wednesday that the central bank is "getting closer to the time when a cut.". However, he still wants more evidence that inflation is slowing before he's ready to move.
"I believe current data are consistent with achieving a soft landing, and I will be looking for data over the next couple of months to buttress this view," Wall said in a speech in Kansas City. " So, while I don't believe we have reached our final destination, I do believe we are getting closer to the time when a cut in the policy rate is warranted."
Federal Reserve Governor Adriana D. Kugler said Tuesday she anticipates "it will be appropriate to begin easing monetary policy later this year" if economic conditions continue to evolve in a favorable manner with more rapid disinflation and employment softens while remaining resilient. She addressed the National Association for Business Economics Foundation in Washington.
"If the labor market cools too much and unemployment continues to increase and is driven by layoffs, I would see it as appropriate to cut rates sooner rather than later," Kugler said.
Federal Reserve President Jerome Powell spoke Monday, saying the Fed would likely lower rates before inflation to 2%.
Anyway, let's dive into the buzzing stocks this week:
Nvidia led the way for a major pullback in Semiconductors Wednesday after comments from President Biden that he would push for stricter controls on trade with China. Semiconductor equipment also fell hard, with semis down 5% and equipment don 8%, as tracked by moomoo. $Arm Holdings (ARM.US)$ fell 7.6%, $Advanced Micro Devices (AMD.US)$ fell 7.5%. $ASML Holding (ASML.US)$, a semiconductor lithography supply company posted upbeat earnings and guidance, but the news from Biden came at the wrong time; the stock fell 10%, and rounded out the trio at the lowest decliners on the Nasdaq 100.
@Capoo: when peak, massive dump and money flows back nvidia, take lower risk, dont be that bag holder
DJT shares soared 40% Monday after Former President Donald Trump was 'fine' when gunfire rang out at a Butler, Pennsylvania rally, Bloomberg reported. Trump stayed in the news all week, keeping attention on the company he heads, as he spoke about tech stocks and announced his choice for Vice President JD Vance.
Shortly after 6 pm EST Saturday, Trump was seen tackled to the ground and whisked away by Secret Service members in Fox News live videos. Trump's political campaign said Trump was "fine," AP news reported. After the attack, Tesla CEO Elon Musk pledged his support for the campaign.
"President Trump thanks law enforcement and first responders for their quick action during this heinous act," Steven Cheung, Trump spokesperson, said in a statement on the Trump campaign website. "He is fine and is being checked out at a local medical facility."
@DazzlerAus: trump ev policy is going to piss off elon
Tesla stock was rising in early trading Monday, recovering from last week's robotaxi disappointment. CEO Elon Musk's political calculations appear to be helping. Shares of the electric vehicle maker were rising 6% Monday.
But later in the week, conditions changed. Former President Donald Trump slammed Joe Biden's push for electrifying road transport on Thursday, the fourth and final night of the Republic National Convention in Milwaukee.
"I will end the electric vehicle mandate on day one, thereby saving the auto industry from complete obliteration which is happening right now and saving US customers thousands and thousands of dollars per car," Trump told the crowd gathered at Fiserv Forum.
@Manuel Gonzalez308: my absolute worst losses ever today. i bought calls this morning, plan was to hold to 246 and if i saw a break, buy puts. i fell asleep and lost 1/3 of my portfolio when i woke up.
$GameStop (GME.US)$ meme trading is alive and well this month, with the videogame retailer rising for the seventh consecutive trading day on Tuesday.
The stock was up 2.1%. It's up 42% for the year, although its trading volume has subsided substantially since trader Keith Gill, better known as Roaring Kitty, reappeared in mid-May after about three years offline.
@2-7 Bluff : i love that panic and a sell off are happening but GME is holding firm
Taiwan Semiconductor Manufacturing Co. reported a 36% rise in second-quarter profit as it continued to witness surging demand for its advanced chips, with enthusiasm over artificial intelligence sending the chip maker's shares to record highs recently.
The world's largest contract chip maker said Thursday that net profit rose 36% from a year earlier to 247.85 billion New Taiwan dollars (US$7.61 billion) for the three months ended June. That exceeded the NT$235.12 billion consensus estimate from a FactSet poll of analysts.
But later I the day, Former President Trump said he would try to get Taiwan to pay for U.S. military aid, sending the stock lower 6%.
@MomentumPython1337: even nvda and avgo are tanking, a lot of weakness at the moment.
$Super Micro Computer (SMCI.US)$ traded higher Monday after Friday's announcement that the artificial intelligence server company will become a component of the Nasdaq-100 Equal Weighted Index.
Last Friday, Nasdaq said Super Micro will join the Nasdaq-100 Index before the market opens on Monday, July 22, 2024. In both indices, Super Micro will replace $Walgreens Boots Alliance (WBA.US)$.
@Mike Morency: what is this thing doing? Added to the Nasd on the 22nd and it does this.
Last week AMD announced its intent to acquire Silo AI, an AI research and lab company based in Finland. Silo AI was originally founded in 2017 to create services that enable AI for industry-specific use cases and provide research on AI best practices. This all-cash transaction is valued at $665 million; AMD claims that it will further drive its "strategy to deliver end-to-end AI solutions based on open standards and in strong partnership with the global AI ecosystem."
Vamsi Bopanna, senior vice president of AI at AMD, told MarketWatch that this move is all about taking advantage of the opportunities that are presenting themselves to AMD around AI and enabling the company to "move fast" in a revenue-rich environment.
@Rebel_Ming: **** u amd! cb. how the **** did u go up to 180+ and then can just drop til 150 without strength. super manipulated.
On Monday, Apple shares surged to a record high Tuesday after analysts from Loop Capital and Morgan Stanley raised their price targets, citing the company's strong position in AI. Loop Capital upgraded Apple stock to "buy" and increased their price target to $300, highlighting the potential impact of generative AI with new iPhones.
@Gan John : Next week will continue drop Better buy put standby
A new report from PwC shows the global total cinema revenue passing pre-COVID-19 pandemic levels in 2026. The "Global Entertainment & Media Outlook" covers 13 sectors and 53 countries.
Among the highlights are subscriptions to streaming services, predicted to grow 5.6% on a compound annual growth rate from 2023 to 2028. The report also sees advertising revenue topping $1 trillion globally in 2026 as the fastest-growing of three core revenue categories in the next five years.
@Warren Buffetless: The CEO and the founder say thanks for your huge donation to the company, baggie.
Intel climbed about 7% for the week before pullback Friday as investors looked for alternatives to semiconductor companies like Nvidia and TSMC after comments from both presidential candidates. Biden said he would cut down on companies trading with China, and Trump said he would get Taiwan to pay a fairer share for military aid.
@104595693: crowdstrike caused a world wide crisis in all fields but dropped 9%. While Intel is doing nothing but dropped 5%
Thanks for reading!
* All comments, links, and content posted or shared by users of the community are the opinion of the respective authors only and do not reflect the opinions, views, or positions of Moomoo Financial Inc., Moomoo Technologies, any affiliates, or any employees of MFI, MTI or its affiliates. Please consult a qualified financial professional for your financial planning and tax situations.
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Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
If Biden and Trump keep scaring investors by shouting out specific industries and startling stock prices, how will you prepare for the election season?
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
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ZnWC : Thanks for the reward points![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
1) We are experiencing a volatility risk in the stock market when Biden and Trump started to shout out specific industries. But the change in policy will not happen overnight. Bills which have already been passed by the Congress and signed by the current president cannot be removed or reversed like the Inflation Reduction Act (IRA).
2) IRA supports industries like electric vehicles, clean energy and businesses help in reducing impact by air pollution (healthcare, manufacturing, building etc). The company that benefited whose stocks will face short term the volatility risk but the share prices should stablise after the US presidential election.
3) My investment plan focuses on the long term and will only revise if there is any fundamental change to the company. Currently there will be no change in the four "D" investment strategy like the diversification of portfolio or investment distribution based on risk.
4) I am more concerned about the possible rate cut by the Fed in September and how inflation and geopolitical tension can affect the US and China economy. There is data which showed that US stocks are facing a massive pull back which is affecting the tech stocks.
HuatLady : During the election season, I will make sure to stick to a careful plan with my investments. This helps me spread out any risks and also allows me to take advantage of any opportunities that pop up when the market is changing a lot. It's really important not to make quick decisions based on the ups and downs I see in the short term.
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Instead, I keep my eyes on my long-term investing goals and strategies, so I can stay on track even when things get unpredictable.
HuatEver : I'll keep a close eye on the stock market during this election season, as it tends to be unpredictable and volatile at such times. The uncertainty about what policies the future administration, whether under Biden or Trump, will adopt can affect investors and their portfolios in various ways across different sectors. However, I'm not worried. I'm staying calm and sticking to my Dollar Cost Averaging strategy, with a focus on ETFs for the long term![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
. This strategy has proven effective for me in navigating through market fluctuations with stability. ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
102362254 : Diversifying my investments across various asset classes like stocks, bonds, reits, and potentially commodities, while staying informed about economic trends beyond politics, is how I plan to safeguard my portfolio during market fluctuations and prepare for the election season.
Phil Dunn : Diversifying my investments across a range of different companies, industries and asset classes. It’s my core strategy to mitigate risk and maximize returns.
redevilgiggs :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
steady Pom pipi : “Terrible” - this is my impression of Trump.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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The common saying is amazing. The stock market may fluctuate greatly, just because of his words.
Avoiding industries that Trump hates, I think the stocks most affected are China Securities and American companies that have set up factories in the US.
Musk's words will influence Tesla stock trends, and Trump's words will affect the overall stock market trend. This is a little devil and a big devil.
010Leo : Trump businessman, bringing all back to usa. Terrible week NVDA drop, affected several funds. now the whole market red. luckily got mmf and bond fund holding steady. yes diversification is key. perhaps time to look into gold fund as well?
musang queen :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
udang merah :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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