Give and Take!

Jun 24, 2021

Hello,

Half of 99%! That is how much of his wealth Warren Buffett has donated by now. Giving, ‘giving back’ a new meaning!

Taking away: South African brothers vanish with $2.2 Billion worth of Bitcoins!

US Markets:

Tesla Inc (TSLA, 5.27%▲), embarking on an ambitious rooftop solar program, was at the back of Nasdaq as the Tech heavy index hit record gains for the third consecutive day Wednesday, up 0.1%.

The Bitcoin effect: Bitcoin jumped 15% on Wednesday and Tesla, with $1.5 Billion worth of Bitcoins, is found volatile often when the major Crypto is so.

With eight of its 11 sectors- Health Care (-0.46%▼), Real Estate (-0.35%▼), Technology (-0.11%▼), and Industrials (-0.27%▼) among them-into the red zone, S&P 500 slipped 0.1%.

The future looks bright, though!

All the US Index futures are green as of 06:30 ET with S&P Futures (0.46%▲), Dow Futures (0.49%▲), Nasdaq Futures (0.57%▲), and Russell 2000 Futures (0.63%▲).

It should be another upmarket today if the trend continues.

Talking of the future:

Will there be a drop in the jobless claim data? We will find out today.

Jobs remind, there were 9.3 million openings in April but not enough labor to be hired. Some companies have raised wages but also urged officials to put an early end to enhanced unemployment benefits.

Another leap into the future: A Self-driving truck company, Embark, is up for a $5.2 Billion SPAC deal with Northern Genesis Acquisition Corp. II. This means the company will go public soon bypassing the traditional initial public offering process.

Forecasts suggest Electric Vehicles are going to rule the world market by 2040!

‘X Æ A-12’ to be crowned the king if that happens?

Key Movers:

Ford Motor Corporation (F, 3.42%▲), from the Consumer Discretionary sector, is recovering well following a slump, post a 5-year peak on June 3 when the stock jumped 7%.

Following a 7.7% increase in the second-quarter common stock dividend, Simon Property Group Inc. (SPG, 1.5%▲) outperformed the Real Estate sector.

Entera Bio Limited (ENTX, 44.7%▲), a biotechnology company with a specialty in oral delivery of molecules and biologics, made substantial gains after announcing “excellent” findings from its interim study EB613 for the treatment of Osteoporosis.

Bellerophon Therapeutics Inc. (BLPH, 30.39%▲), a clinical-stage Biotherapeutics company focused on developing treatments for Cardiopulmonary diseases, breached the $5 barrier for the first time since April. BLPH’s relative volume was 83.9.

Meanwhile, Comcast Corporation (CMCSA, -3.73%▼), a telecommunications conglomerate, slipped in sync with the sector it belongs to, following reports that the company was exploring its future in streaming.

Earnings:

Winnebago Industries (WGO, -0.81%▼) reported an EPS of $2.16 beating the forecast of $1.77, even as the Revenue reported was also $960.7 million-roughly $124 million more than the forecast. The stock, however, saw a decline from $66.10 to $65.95 through the day on Wednesday.

On the lookout:

Advanced Micro Devices Inc. (AMD, +0.29%▲), the semiconductor manufacturer, was in 62 Hedge funds by the end of March while the all-time high for the statistic is 74. AMD is also in the 30 most popular Hedge Fund stocks right now. It will also benefit from the recent US government investments and subsidies for semiconductor manufacturing.

Over social media, some of the traders are watching out for DocuSign Inc. (DOCU, -0.89%▼), Virgin Galactic Holdings Inc. (SPCE, 3.55%▲), Align Technology Inc. (ALGN, 0.18%▲), and Twitter Inc. (TWTR, 4.25%▲).

Other Asset Classes:

Ahead of the jobless data and Fed speeches, the US dollar has made some corrections, trimming some of the gains it had made, in the past week.

The OPEC+ meet is scheduled for next week. Meanwhile, a constricted supply is pushing Crude Oil prices further up, Wednesday was no different.

Global Markets:

Markets in Europe advance buoyed by Financial services and Tech stocks, even as the investors look forward to the Interest Rate decision by the Bank of England today.

Fresh data on US inflation, due on Friday, is being looked at with interest in both Asian markets and markets across the Atlantic, while the Asia Pacific region witnessed a mixed response from the markets.

Meanwhile on Researchfin.ai

Our AI identified a trade setup on LendingClub Corp (LC, 2.53%▲) on June 1, 2021. In just 3 weeks the stock delivered the profit-taking target of 20%.

There are 12 new trade-setups that our AI identified for today. Please sign-up for our app, if you already haven’t, to learn about these setups.

That’s what we had for today! Trade well and take care!

See you tomorrow!

Warm Regards

Team Researchfin.ai