Weekly Buzz: The Shake-up Begins?
Happy Friday, mooers! Welcome back to Weekly Buzz, where we review the news, performance, and community sentiment of the selected buzzing stocks on moomoo platform based on search and message volumes of this week! Answer the Weekly Topic question for a chance to win an award next week!
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Weekly Buzz
The week ended with a 4.8 magnitude earthquake that rattled the Jersey City moomoo office, and the financial district of New York shook right outside the window. It was a volatile week for markets, seeing the first real pullback in months. Monday started the second quarter with a drop in indexes, and though they recovered, they did not retake highs set at the end of a roaring Q1.
For the week, the $S&P 500 Index(.SPX.US$ fell 0.95% the $Nasdaq Composite Index(.IXIC.US$ fell 0.8% and the $Dow Jones Industrial Average(.DJI.US$ fell 2.27%
The week started with a selloff of long-duration U.S. debt gathered more momentum Monday morning as traders factored in Friday's PCE inflation data, which showed that price gains still need to be tamed. PCE data showed that prices climbed about 2.5% year-over-year, compared to 2.4% in January. Reddit and Truth Social finally pulled back from their runs, and Oil and Gold hit all time highs that kept going up all week.
Tuesday, job openings recorded by JOLTS were just shy of expectations at 8.75M, but above last weeks 8.74M. The day saw multiple FOMC members speak about rates. Cleveland Fed President Loretta Mester said Tuesday that she still expects three interest rate cuts in 2024, but added it was a close call.
Wednesday, Fed President Jerome Powell spoke shortly after noon at a Stanford fireside chat. He said the economic outlook was still uncertain, and again said the Fed needs more evidence of inflation decline.
Thursday, the market opened higher, but suddenly dropped like a rock. After 1:30 p.m. EST, the market pulled back hard. The morning saw Initial U.S. Jobless claims come in a little higher, up 9k to 221,000 for the week that ended March 30. Economists expected 214k. Layoffs increased to a 14-month high in March. Fed members Kashkari and Bostic were negative on cuts.
Finally, on Friday, The market was shaking from hot jobs data released by the Bureau of Labor Statistics. The economy added 303k jobs in March, nearly 100k more than the 212k economists expected. Fed member Logan said there would only be one cut this year, and the CME FedWatch futures calculator showed a cut expected in July, and only two this year.
Anyway, let's dive into the weekly buzzing stock list of this week:
Friday, Tesla canceled its long term plans for a inexpensive electric car according to Reuters reporting Friday. Instead, the company will focus on developing self driving robo-taxis. Tesla Chief Elon Musk responded to a user on twitter that Reuters was lying, sending the stock form -5% to 3% on the day.
@FastMoneySnpier: how come Elon only denied their story about X not the Tesla ?
Nvidia stock was edging up early on Thursday after the company confirmed it doesn't expect any disruption from the earthquake in Taiwan. However, its suppliers are building up their operations in the U.S. The chip maker said in an emailed statement that it doesn't expect any impact to its supplies from the earthquake in Taiwan on Wednesday that left at least nine people dead. Taiwan Semiconductor Manufacturing, or TSMC, is based in there and manufactures chips for Nvidia.
@72913498: sell in may & go away - honestly can see us hit 820 gap soon - be cautious
Monday, CEO Adam Aron says the domestic box office has enjoyed its best March in five years, despite ongoing concerns about the lingering impact of the Hollywood strikes. After a $250M stock sale announcement last week, and ongoing concerns about cash, the stock still fell 11% after the news.
@GangGreenMf: watching this while working just getting me anxious . im taking a week off after this blows
CXAPP shares are in the spotlight again on Tuesday after rallying more than 150% on Monday. Shares closed up 151% on Monday after the company announced that their 'Work SuperApp' would use Google Cloud.
@PaulG: 7.50 in a few weeks
Bitcoin fell below $70k this week, starting Monday in a selloff that could have been due to a lack of liquidity over the long Easter weekend. It doesn't look like another correction of the scale that hit crypto in recent weeks.
The recent selloff can likely "be explained by reduced liquidity due to the Easter weekend," said Alex Kuptsikevich, an analyst at broker FxPro. "We still see the dips to just below $69,000 as a post-growth consolidation -- an important stage before a new advance."
@Ty Cole : gold is the way to go.
Trump Media and Tech fell this week. Two investors Gerald Shvartsman and Michael Shvartsman pleaded guilty to a single count of securities fraud, Bloomberg News reported Wednesday. The men invested in blank-check Digital World Acquisition before its merger with the company and were charged by federal prosecutors for making more than $22 million by trading on confidential merger target information, according to the report.
@H Ab : wait until August, sky rocket
AMD said late Monday it does not recommend Tutanota's unsolicited "mini-tender" offer to buy up to 150,000 shares of the company at $200 per share. Investors who have already tendered shares are advised that they may withdraw from the tender offer prior to the expiration of the offer on April 19, the company said.
@TRIDENT: buy high sell low
Shares of Nio Inc. rallied Monday, as did those of other China-based electric-vehicle makers, after data showed March deliveries rose sharply from a year ago. The big increases in deliveries come as U.S.-based EV giant Tesla Inc. is expected to report its numbers, as early as Monday. Shanghai-based Nio said it delivered 11,866 vehicles in March, up 14.3% from a year ago and 45.9% more than in February. The deliveries included 6,737 sport-utility vehicles and 5,129 sedans.
@EZ_money : shorted by Americans i thought this was a Chinese app and Nio was a Chinese company!!!?
Monday, Seatrium has announced that its repairs and upgrades department has secured a series of major contracts worth $350 million, to be completed by the end of 2025. The range of contracts includes upgrades and conversions of floating storage regasification units (FSRU), maintenance and upgrade of a floating production storage and offloading system (FPSO), major remediation work for Chevron Thailand Exploration and Production, and vessel retrofits for long-term partners Carnival Corporation and Royal Caribbean Group.
@Blue Eyed Boy : So they really shorted Seatrium.
Apple on Friday informed 614 employees at eight different facilities in Santa Clara that they will be laid off next month, according to state filings. According to the filings, the employees were informed on March 28 that they would be let go effective May 27. the company made the news this week with a rumor that they were shutting down their EV project and instead focusing on home robotics.
@RDK79: No, the fix is to actually innovate.. and not a $3500 pair of AR headset … or a new iPhone color … or a faster m-chip…or a new Apple Watch app.
Thanks for reading!
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Weekly Topic
What will you look for to see if the market is actually pulling back?
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102362254 : I'll use MACD and Fibonacci retracement as technical indicators to gauge if the market is actually pulling back. I'll also watch for major market indexes hitting record highs with lower volume, as volume is a crucial early warning sign for changes in demand and price direction.
mirulaidil : good
mr_cashcow : What will you look for to see if the market is actually pulling back?
If I observe the trend to be moving higher while the volume is decreasing, this might signal a potentially longer-term reversal to occur since there are fewer longs that will push the stock higher. High volume pullbacks are also a sign that the market may be ready to do a reversal and pull back
I will keep a lookout for indicators such as support level
iamiam : LOVE THE BOND!!!!
CasualInvestor : Live the dream, why are you trading? For the profits? Profits = Risk. Market fluctuations are good for you. Just need to ensure you know the risks, enter the market with both an entry and exit strategy.
With my $Tesla (TSLA.US)$ position, come Monday it’s gonna be exciting.
HuatLady : I rely on fundamental analysis to spot opportunities during market pullback. As a
long-term investor, I am not overly concerned about identifying stocks market pullback. Instead, my focus is on identifying low-priced high quality stocks poised with potential for future gains.
SpyderCall : The first thing I look for is lower highs and lower lows. Technically, that is what you need to see on the chart for confirmation of a downtrend.
Then, I look at volume and order flow. Sometimes the order flow can be misleading, but I would like to see more selling than buying.
The most important thing I would look for is the price action breaking down below major support levels.
If there were some news to push negative sentiment, then that would be a plus. Like a resurgence in inflation or another rate hike.
If options order flow begins to lean more towards the short side, then that would be a small sign of confirmation.
Another small sign of confirmation would be bearish market breadth. I would like to see the majority of the market participating in the selloff. Not just big tech or the Mag 7.
It could be considered more confirmation if I see money flowing into defensive assets like volatility indices, value companies, the dollar, gold, energy, commodity related equities, etc.
If I see all of this transpiring at the same time, then it would make going short an easy trade.
HuatEver : I typically analyse market sentiments
and volume to confirm market pullbacks. My goal is to steadily invest using dollar-cost averaging, focusing on acquiring dividends stocks for long-term holding.
FARAMARZ AKBARY : 47515736
doctorpot1 : When it comes to spotting a market pullback, there are a few key things I always keep an eye on. Firstly, I check the major stock indices like the S&P 500 and the Dow Jones Industrial Average. If I see consecutive days of significant declines across these indices, it could be a sign that the market is indeed pulling back.
Another indicator I watch is the trading volume. A market pullback is often accompanied by higher-than-average trading volumes as investors rush to sell off their positions. So, if I notice a spike in trading volume during a period of declining prices, that's definitely a red flag for me.
I also pay attention to market breadth, which measures the number of advancing versus declining stocks. If I see a majority of stocks in the market trending downwards, rather than just a few isolated sectors, it could indicate a broader market pullback.
Lastly, I keep an eye on macroeconomic indicators and news events that could impact the overall market sentiment, such as changes in interest rates, geopolitical tensions, or economic data releases.
Of course, it's essential to remember that market pullbacks are a natural part of investing, and they often present buying opportunities for long-term investors. So, while it's crucial to be vigilant and stay informed, it's equally important not to panic and to stick to your investment strategy.
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