Weekly Buzz: This week was a wild one, with huge drops and huge climbs
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
This week began with the largest one-day pullback in the S&P 500 in two years on Monday. Thursday, the S&P 500 showed its highest one-day climb since 2023. It was a major week of market fear and volatility, but equities settled back by the end of the week.
The S&P 500 Friday tried to hold on to Thursday gains, but the market was flat and falling slightly Friday morning at the end of a major pullback week. The Dow Jones Industrial Average and Nasdaq joined the S&P 500, gaining ground but remained below their Monday drops.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ dropped just 0.04% for the entire week, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.60%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.18%.
Friday brought no major macroeconomic news, and investors are looking forward to next week when PPI and CPI inflation data comes out.
Thursday in macro, initial jobless claims came in at 233k, lower than 250k last month. Monday, this week's macro data came in the form of S&P PMI at 54.3 vs 55 estimated and ISM PMI at 51.4.
Meanwhile, last week's macro numbers pointed to a rush of unemployment. The numbers showed non-farm payrolls dropped from the month before, the economy only added 114k jobs vs 175k forecast and 179k in June, according to the Bureau of Labor Statistics. The unemployment rate in July rose to 4.3%, compared to 4.1% last month. The Federal Reserve has looked extensively at the labor market as an indicator of its monetary policy and appetite for rate cuts, and they left rates unchanged Wednesday.
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Anyway, let's dive into the buzzing stocks this week:
Nvidia was rising early on Friday. The chip maker looks set to end a volatile week in a positive manner, with sales figures from Taiwan Semiconductor Manufacturing bolstering optimism around AI processors. The stock closed up 6.1% on Thursday. The move aligns with the broader market, reacting positively to Thursday's initial employment benefits data.
SMCI, another semiconductor firm, showed weaker margins than expected this week, and the stock fell. It's another sign that the market is becoming more demanding regarding AI stocks. Nvidia's stock skyrocketed over the past year; but dropped 22% over the past month amid worries about higher capital spending by some of its Big Tech rivals. The semiconductor giant is due to post earnings on August 28.
@richardtrades: I'm tired! time to go! Today trade is terribly hard! I failed most of my trade hahahahhahah
Super Micro Computer shares tumbled 16% to $520.50 on Wednesday after Super Micro's earnings missed the company's own guidance as gross margin shrank more than expected.
Gross margin fell to 11.2% in the fiscal fourth quarter, which ended June 30, from 17% a year earlier, the company said in a press release on Tuesday after the market closed. Analysts, on average, expected 14.15%, according to estimates compiled by Capital IQ. Weaker margins and higher operating expenses dragged the company's earnings per share to $5.51, below its own guidance of $7.20 to $8.05.
@71316332: the stock is not strong.
Tesla saw fewer deliveries in China last month. Tesla China sold 74,117 vehicles in July, including 27,890 for export, according to data released today by the China Passenger Car Association. The US electric vehicle maker sold 46,227 vehicles in China in July, up 47.11 percent from 31,423 a year earlier but 27% lower than in June.
@IAMs 83: They played around with it so much they broke it, Now it's frozen at 200 199.
$Bitcoin (BTC.CC)$ 's price rose on Friday as cryptocurrencies recovered from a selloff earlier this week. The coin climbed 6.7% by Friday morning to $60,998 after briefly touching $62k.
The large-cap token continues to baffle some investors, although its moves this week have echoed the stock market's swings. Mirroring the global selloff in stocks on Monday, which put the S&P 500 on the brink of correction, cryptocurrencies also tumbled.
@booya: tether is gna implode
Warren Buffett's Berkshire Hathaway made Apple news this week. The Omaha, Neb. $Berkshire Hathaway-B (BRK.B.US)$, company revealed Saturday that it held $84.2 billion worth of $Apple (AAPL.US)$ as of June 30, representing 49.4% reduction in the iPhone maker in the second quarter. Apple pulled back on the news.
@frogoracletrading: After testing the GAP several times Apple finally moved into it today.
"Given the largest cost of an AI server is from GPU/accelerators and networking gear, this is likely to drive sustained momentum for GPU providers Nvidia and AMD and networking-chip providers Broadcom and $Marvell Technology (MRVL.US)$ ," analysts said about semiconductor companies like AMD this week.
AMD saw a big block of bullish trade in call options Friday that give the holder the right to buy 118,000 shares of the chipmaker at $135 in 861 days. The buyer paid a $5.32 million premium for those options. The stock traded at $134.78 at the time.
@Mdarauchiha: should hold or sell?
According to SeekinAlpha, GameStop has only peeled off 1.4% amid the stock market turmoil over the last week. The stock is still showing a 21% year-to-date gain, but is down more than 50% from its highest level of the year. The stock ended the week up 4%.
The meme stock has lost some of its buzz. Trading volume over the last month has been far below the average for the year and short traders have lost some interest, with short interest only standing at 9.5% of the total float. Notably, it has been eight weeks since GameStop has issued a corporate press release of any nature. Meanwhile, Roaring Kitty has not posted on social media sites X since late June.
@OneDirection: To the moon on Monday good night folks
$Intel (INTC.US)$ saw its big sell-off extend into a third session Monday as the chip giant's stock fell more than 10% intraday to a 12-year low – adding to last week's massive red ink. INTC dropped as much as 10.2% Monday to a $19.29 session low, a level the stock hasn't seen since November 2012. At that price, the stock was down 37.2% since Wednesday's close.
The bulk of the three-session sell-off came on Friday, when Intel plunged some 26% -- its worst single-day loss in 40 years – following disappointing Q2 results. Intel also issued Q3 guidance that fell below analysts' previous expectations, while suspending its quarterly dividend and announcing plans to cut 15% of its workforce.
@KarakChai: divergence
Shares of the PLTR, a firm that builds and deploys software platforms, advanced 12% Tuesday after boosting its revenue outlook, taking it above analyst estimates. It also reported record profit in the second quarter that beat Wall Street expectations. It finished the week up 20%.
"Our growth across the commercial and government markets has been driven by an unrelenting wave of demand from customers for artificial intelligence systems that go beyond the merely performative and academic," Palantir Chief Executive Officer Alexander C. Karp said in his letter to shareholders released Monday after the market closed.
@Winner takes all: Short squeeze..... squeezing
The company lost 5 cents a share, compared to a loss of $8.74 billion, or $8.88 a share, in last year's quarter, which included a non-cash goodwill impairment charge of $8.79 billion. $Lumen Technologies (LUMN.US)$ reported an adjusted per-share loss of 13 cents, and revenue fell 11% to $3.27 billion.
Despite the loss, the firm said it had partnered with Microsoft on future plans, and its loss was narrowing. The firm did not specify what time frame the $5B in new bookings represented. In part after the news, traders swapped 403k options contracts according to moomoo volume. Two contracts stood out for their high volume- the $6 Friday expiration calls saw 10k in trading volume. $3.5 Friday expiration puts also saw high volume-13k changed hands.
@Ye_Ji: sleepy.. number move so slow .. goodnight
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.
Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
Are you excited for the next week of trading? What are you looking for in retail earnings to pull the market out of this slump?
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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HuatEver : Yes, I'm eagerly anticipating the upcoming week of trading and curious to observe how retail companies' earnings will impact the stock market. Monitoring revenue growth and consumer sentiment indicators will be important, as these factors could be key in pulling the market out of this slump.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Regardless, I'll stick to my investment strategy of focusing on solid, long-term stocks.
102362254 : I'm ready and excited for the trading week ahead. Whether the market dips or rises, I see opportunities. Volatility keeps things interesting. As for retail earnings, I'm looking for strong consumer spending signals to lift us out of this slump. For investing, it's often best to follow the trend rather than chase it.
HuatLady : Thank you for the rewards.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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I have a small position with $Walmart (WMT.US)$, so I'm definitely looking forward to the retail earnings next week. I'm hoping for strong results that can potentially boost the market sentiment, especially in the retail sector. High sales numbers, positive guidance, and any strategic updates from $Walmart (WMT.US)$ could certainly make a difference in turning around the market's sentiment.
ZnWC : Thanks for the reward points![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
There are always opportunities for trading depending on what strategy you are using. The market may be slumped but with enough emergency funds, I can hold my long position stocks until the next rally. I expect the rally may come when the Fed officially announces the rate cut in September (can be anytime soon). But we should also prepare for more huge volatility for some stocks especially tech sectors.
Options buying will be under my 10% high risk portfolio which is mainly for protecting my upper and lower share price. I DON'T do short, leverage or any high risk asset trading including selling naked puts/calls. I think most importantly is to be disciplined (stick to an investment plan) and DYODD (balanced view of the stock market).
mr_cashcow : Thanks for the much needed reward points! Yes I'm looking forward to retail earnings but if I'm honest I'm more invested in Nvidia's earnings report which will be out closer to the end of the month, hopefully it will save the market![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Zamm : Sentiment in more powerful than fundamental or technical when its time come, but please hold tight our emotion.
DouGiee : next week got what earnings
doctorpot1 : I'm really looking forward to next week, with major Chinese companies like $Alibaba (BABA.US)$ and $JD.com (JD.US)$ reporting their earnings. Strong results, particularly in retail sales growth, could signal a positive shift for the China recovery play. However, if the reports fall short, investors in the Chinese market might need to exercise more patience before seeing significant returns on their investments.
Wonder : Retail earnings if still strong, will be a boost to the slowed economy and a possible soft landing, reducing fears of recession?
puddy1 : strong retail earning would hint consumers are still spending and suggest that economy is still resilient. Healthy profit margins would suggest retailers are managing cost despite inflationary pressure.. hopefully there is positive report from the earning reports.
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