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Market Updates Throughout The Day
Last Trading Day of 1H24
Best half for the market since 1928
10:02 a.m. CDT: what to the world's richest men all have in common? None of them got rich in renewable energy. And "global warming" issue has been around since at least 1994 -- thirty years ago.
- Nike's worse day in 37 years -- since 1987 -- on guidance! As well as operating results;
- company went public in 1980; Black Friday, October, 1987
- what this tells me: investors not happy with lousy returns when they see what Nvidia, et al, are doing
- 2H24: "show me the money"
- money not in renewables or EVs
Mid-morning trade:
Original Post
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At The Open -- Friday, June 28, 2024
Dow: from negative to +200 points at the open --
Cramer:
- soft landing
- all that's left is the rent number
- these were not numbers for a "Fed rate raise"
- "summer rally" is real; "sell in May" is not;
- 1H24 has been best half since 1928
Apple:
- Cramer can't say enough about Apple;
- at least four buy-side analysts now have AAPL in $250 - $260 range; currently trading at $215
SCCO:
- surges -- up 2.22%; up $2.39 at the open; still off its recent highs (but doesn't matter for investors).
NIKE:
- getting crushed! Down almost 20% today.
- worse day in 23 years
- life-style business decline
- performance business didn't offset
- digital weakness
- traffic in China declined
- the current CEO has been there for one year; when he came in, he made huge changes; much innovation
- street doesn't feel comfortable
Chicago PMI, link here:
- 47.4 vs 40.0 est -- wow
- S&P goes over 5,500 on that news
DOW Theory:
- Dow transports support Dow industrials
VIX:
- at 12.30; well below the "14" threshold
INTC down almost 40% in 1Q24; one of the very few disappointments in the chip sector --
Search:
- google vs reddit (pronounced "read it")
- which is better? Depends.
- politics in real time, link here:
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