The First Hour -- CNBC -- Energy Stocks Now Outperforming Tech YTD -- July 12, 2024

Locator: 48118INV.

Cramer: is off this morning -- as in, "not in the studio."  Sara Eisen -- an excellent replacement -- fills in. 

That ATT hack? Blame it on SNOW. SNOW down almost 4% in pre-market trading; 

Snow down another $5 today (pre-market) after a $3-loss drop yesterday. When did that ATT hack occur? 2022. Much ado about nothing. At the open, SNOW drops another 4% at the open. 

Yesterday divergence: Russell 2000 vs S&P -- absolutely historical -- not surprising at all. 

I thought it very, very important that it happened It may be historical but it was absolutely not surprising at all. Tech investors taking their profits and -- smart, smart move -- and moving it somewhere else -- the Russell 2000 -- for a few months. Within two IRAs, I did the same thing -- actually buying energy which I said I would never do again.

Transitory? Link here.

Note: my editor just told me to post my disclaimer:

****************

Disclaimer Briefly Reminder

• I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
• Reminder: I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple.  
  

Pre-market: all indices looking good.

WTI: now up a full 1%; up 83 cents; trading at $83.45.

• only E&Ps that interest me now: DVN, CHRD

Not on my bingo card: link here. Will this be reported by CNBC today? Don't hold your breath.

JPM: a positive quarter for JPM, but stock is quite flat at the moment.

WFC: drops 5.5% in pre-market. Looks like folks are moving money from WFC to JPM (talking about the stock, not the actual bank holdings). 

AAPL: from a couple of days ago, link here. AAPL did not fall enough yesterday for me to acquire more.