Futures Mean Nothing, But Just The Same, I'm Not Going To Miss Tomorrow Morning's Business News -- June 27, 2024

Locator: 48058INV.

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: