- Morning Briefing w/ KevinD
- Posts
- Friday June 14 @ 9:00am
"Look at the chart as if you are Forrest Gump instead of Albert Einstein. That is a big advantage."
📈 The Markets Overnight
🌏 Asia: Up
🌍 Europe: Down a lot
🌎 US Index Futures: Down
🛢 Crude Oil: Up
🪙 Gold: Up strongly
🧐 Yields: Down
💵 Dollar: Up slightly
🔮 Crypto: Up
🌏 Major Global Catalysts
Bank of Japan holds rates steady, says it may raise rates in July. (link)
💵 Economic Reports and Events Today
Consensus forecasts shown
8:30am Import Prices m/m 0.0% expected, reported. Change in the price of imported goods and services purchased domestically. (link)
10:00am Prelim UoM Consumer Sentiment 72.1 Level of a composite index based on a survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions. (link)
10:00am Prelim UoM Inflation Expectations Percentage that consumers expect the price of goods and services to change during the next 12 months. (link)
📰 Selected Earnings Releases
Consensus Estimates shown
After Hours Today:
None
Pre-Market Monday:
None
🔮 Selected Analyst Ratings Changes
SHOP Shopify Evercore ISI Group Upgrades to Outperform Targets $75.00
BAC Bank of America Keefe, Bruyette & Woods Upgrades to Outperform Raises Target to $46.00
DDOG Datadog Monness, Crespi, Hardt Downgrades to Sell Targets $98.00
HAS Hasbro B of A Securities Upgrades to Buy Raises Target to $80.00
ZS Zscaler JP Morgan Upgrades to Overweight Raises Target to $230.00
📉 Stocks In Play
TSLA Tesla: Up 2% after shareholders approve Musk's pay package and moving the corporation to Texas. (link)
ADBE Adobe: Up 15% on strong earnings and raised guidance with the CEO saying "highly differentiated approach to AI..." is attracting new customers. (link)
STLA Stellantis: Down 4% on reports the company will move some Chinese EV production to Europe. (link)
SHOP Shopify: Up 2% on a strong analyst upgrade. (link)
BITF Bitfarms: Up 7% as RIOT continues to buy shares in the company in an effort to take over the company. (link)
TEM Tempus AI: A medical AI company to IPO today with 11.1M shares priced at $37.00. (link)
RH RH: Down 14% on a larger than expected loss and sales that missed expectations. (link)
💬 Commentary
The market saw mixed results again yesterday with SPY and QQQ closing at new highs after a choppy day that included a decent lunch hour reversal from the morning’s decline. Despite lower producer inflation data, cooling jobs data, and lower yields—all factors that typically favor small caps—IWM closed lower as breadth remained weak. Technology and REITs were the leaders, while energy and communications lagged. Only a few stocks have been doing the heavy lifting this week, primarily in the semiconductor and AI-related industries. This dark cloud of narrow participation is beginning to cast a worrying shadow over the rally in the senior indices.
Stocks are lower ahead of the open, with IWM small caps continuing to underperform the major indices with a large gap down. We’ve been seeing early weakness followed by bulls finding value intraday, but a strong intraday rally today seems unlikely with the defensive posturing we’re seeing.
⛵ When you’re ready…
Some tools/resources that I personally find valuable.
A powerful yet simple fundamental analysis tool: Stock Unlock
AI-powered stock research tools used by institutional investors: Finchat
The trading journal to help improve your trading performance: Tradervue
Analyze trade ideas with me, KevinD, in live calls: My trading group
#1 charting software for serious traders: TradingView
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