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Closing Bell 07-01-2022

·387 words·2 mins·
Trading
Yaheya Quazi
Author
Yaheya Quazi
Indeed, the mercy of Allah is near to the doers of good.

Market Summary

IndexValueChangePercentage
Dow31,097.26-253.881.05
S&P 5003,825.33-33.451.06
Nasdaq11,127.85-149.160.90
Russel 2K1,727.7619.771.16
VIX26.70-2.017.00

There is a saying - all well those ends well. We see that in the market today. In a highly volatile market, with swings of almost 600 points in Dow. At the end all indices end up higher almost one percent. VIX dropped below 28 with 7 percent decline, which indicates general FUD in market is stabilizing.

A Federal Reserve tracker of economic growth is pointing to an increased chance that the U.S. economy has entered a recession. As assumed by most, the recession could be here, sooner than most assumed when it would arrive. Nerve wrecking to say the least. We have had such a bad six months, to start the next half of the year, we get this discouraging news feels pretty bad I must admit.

TSLA stocks continue to show weakness. Second quarter delivery numbers are scheduled to be released on 7/2/2022. Musk has been quite on his market destructive tweets. I am a die hard fan of Tesla, but I wish Elon was not the CEO of that company. He causes so much turbulence on the stock prices with his silly tweets that it is hard to stay invested in Tesla.

Update on 7/2/2022 : Tesla delivery numbers are out for quarter 2. Highlights are below -

  • A year ago, Elon Musk’s electric car business delivered 201,250 vehicles in the second quarter.
  • Tesla was hamstrung during the period ending June 30, 2022, by parts shortages, supply chain snarls and Covid restrictions that forced China’s Shanghai factory to close or operate only partially for weeks.

The chart below demonstrates Tesla’s delivery numbers compared to other auto manufacturers.

drawing

Strategy

  • Be prepared for recession that is now in my opinion inevitable.
  • Timing the market is nearly impossible!

News

Related

Closing Bell 6-30-2022

·416 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 30,775.43 -253.88 -0.82 S&P 500 3,785.38 -33.45 -0.88 Nasdaq 11,028.74 -149.16 -1.33 Russel 2K 1,707.99 -11.38 -0.96 VIX 28.60 0.44 1.86 Stock market closes with yet another red day. The market’s worst first half in 50 years. This is definitely something to be worried about and not just general FUD. Feds are determined to get inflation numbers down, however, the persistent inflation is here to stay at least for the short term. War in Ukraine is never ending or so it seems. Oil prices inched up again today.

Closing Bell 6-29-2022

·316 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,029.31 82.32 0.27 S&P 500 3,818.83 -2.72 -0.07 Nasdaq 11,177.89 -3.65 -0.03 Russel 2K 1,719.37 -24.79 -1.86 VIX 28.16 0.20 -0.71 A volatile day. Market is giving up slowly all the gains from last week.

Closing Bell 6-28-2022

·212 words·1 min
Trading
Market Summary Index Value Change Percentage Dow 30,946.99 -491.27 -1.56 S&P 500 3,821.55 -78.56 -2.01 Nasdaq 11,181.54 -343.01 -2.98 Russel 2K 1,738.84 -32.90 -1.86 VIX 28.36 1.41 5.23 Massive red days are back! All indices are in deep red territory with VIX surging back up above 28 again. Cathie Wood believes US is already in a recession. I think as the month June ends and the market wraps up one of the worst six months of the year in stock market history, we can start to see some uptrend.

Closing Bell 6-27-2022

·233 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,438.26 -62.42 -0.20 S&P 500 3,900.11 -11.63 -0.30 Nasdaq 11,524.55 -83.07 -0.72 Russel 2K 1,771.74 6.01 0.34 VIX 26.95 -0.28 -1.03 Not a green day but not that red either - which is surprising. A big run on Friday and last week, one would assume a massive pull back today - did not happen. Definitely a good sign. Russel 2K ended up green, which is usually indicator for the growth stocks. Read the following this weekend, wanted to share -

Closing Bell 6-24-2022

·331 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,500.68 832.32 2.68 S&P 500 3,911.74 375.43 3.34 Nasdaq 11,607.62 179.11 1.62 Russel 2K 1,765.74 54.07 3.16 VIX 27.23 -1.82 -6.27 Well I am happy to report my prediction for the day of the market was absolutely wrong. All major indices were massively green for the day. Solid gains in S&P, Dow and Nasdaq - what a relief.

Closing Bell 6-23-2022

·324 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 30,677.36 194.23 0.64 S&P 500 3,795.73 35.84 0.95 Nasdaq 11,232.19 179.11 1.62 Russel 2K 1,711.06 20.95 1.25 VIX 29.03 0.10 0.35 What a volatile market! I am glad all indices ended up solid green at the closing bell. VIX continues to go down and that is the actual progress. Bond yields slip that is generally good for the market.