🎯 Today's American Stocks Pulse
Nasdaq Leads as Chip Stocks Rally
The Nasdaq Composite jumped 0.9% to 25,929, while the S&P 500 rose 0.3% to 7,405 and the Dow slipped 0.2% to 50,786. Intel surged 11.2% and Micron rose 9.9% after Broadcom issued weak guidance, driving the semiconductor bounce. Apple fell 1.9% despite unveiling new AI features at WWDC.
🚀 Top American Stocks Headlines
Head of US Equity and Quant Strategy at BoA Sees Too Many Red Flags in Stock Markets
Savita Subramanian, Bank of America Securities head of U.S. equity and quantitative strategy, is warning about parallels between markets now and in Feb 2020. Energy is outperforming and has positive momentum and upward earnings revisions Tech and communications are hot but with expensive valuations Consumer staples rank dead last in returns The last one is particularly notable because she says that a setup like this historically has led to big outperformance in staples, including by 73% during the 2000-2002 tech bust. On CNBC last week she said "I like stocks, I just don't like the index" and today she reiterated a year-end target of 7100 despite the index trading at 7383 now. The S&P 500, she says, is the most-crowded ticker in the world. The prior worry is that new issuance is a red flag and a secondary one is that the capex surge is eating into free cash flow — which has gutted the buybacks that did so much of the index's heavy lifting previously. So she's selective: long financials, energy, materials and staples; steering clear of discretionary and utilities. Her target is -6% from here. h/t @MikeZaccardi This article was written by Adam Button at investinglive.com.
investingLive – Asia-Pacific News Wrap
US Stocks Halt Selloff as Rising Oil Lifts Yields: Markets Wrap
US stocks staged a modest rebound even as flaring tensions in the Middle East sent oil prices and bond yields higher.
Bloomberg – Markets
Weight Loss Drug Maker Sinks 25% After New Safety Data Spooks Investors
While the experimental drug met its key targets, analysts are concerned over the commercial opportunity due to side effects.
CNBC – Health & Science
Worries Grow That Hedge Fund Crowding May Amplify Risk in Crisis
Friday’s sudden equities rout after a months-long rally is renewing concerns that the unwinding of crowded trades could exacerbate market losses.
Mint (LiveMint) – Markets
💬 Top American Stocks Social Posts
Tweet by @RedDogT3
$SPX broke 7551 and 7516 and made a low of 7368 - now we’ll measure the bounce to see if it needs more time before adding risk. Watch if sellers reject near 7445, or if it can push back up. https://t.co/VWbJvjFd2r
Thread by @Carolin_frazier
This has only happened before the 2000 dot-com bubble and during the 2008 financial crisis. On Friday, S&P 500 was down over 2%, while financials, the second largest sector in #SPY, closed positive.