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Closing Bell 07-06-2022

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

Market Summary

IndexValueChangePercentage
Dow31,037.6869.860.23
S&P 5003,845.0813.690.36
Nasdaq11,361.8539.610.35
Russel 2K1,727.55-13.78-0.79
VIX26.73-0.81-2.94

So this is the trend, deep red in the morning, ends green at the end. I am not complaining, but just stating that volatility is at its worst or so it seems. All major indexes end up in green territory. Russell 2000 was down which measures growth sectors. VIX dropped another 3 percent and that is great.

Fed is focused on reducing inflation and they signal they may go with even more strict monetary policy changes. Tesla Stocks again took a negative turn in the morning, ended up green at the end. We are desperately waiting to see some price actions to the upward for Tesla. Stock split decision is coming soon, however, the stock prices do not reflect it (not as of yet anyway). Finally, JPMorgan trims price target for Tesla, says shares could fall more than 40% on weaker deliveries. I absolutely do not agree with this comment but it is what it is!

As for BYD, it reported having delivered 638,157 “electric vehicles” during the first half of the year.

That’s what is prompting all those headlines, but what most of the media is failing to highlight is that almost half of BYD’s EV sales are vehicles equipped with internal combustion engines burning gasoline.

314,638 vehicles out of BYD’s reported 638,157 “EV sales” in 2022 are plug-in hybrids.

When comparing all-electric vehicles for all-electric vehicles, Tesla still outsold BYD by a significant percentage in 2022 despite its bad quarter. Source

Strategy

  • Be prepared for recession that is now in my opinion inevitable - agreed by most analyst.
  • Timing the market is nearly impossible!

News

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Closing Bell 07-05-2022

·268 words·2 mins
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Market Summary Index Value Change Percentage Dow 30,967.82 -129.44 -0.42 S&P 500 3,831.39 6.06 0.16 Nasdaq 11,322.24 194.40 1.75 Russel 2K 1,741.33 13.57 0.79 VIX 27.54 0.01 0.04 The roller coaster ride of the market is worst than the rides in Magic Mountain! Dow Jones had almost 700 point drop but recovered most of it and closed down 0.42%. S&P had a similar effect, it closed positive. Nasdaq had a solid day with almost 2 percent gain. VIX stayed stable.

Closing Bell 07-01-2022

·387 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,097.26 -253.88 1.05 S&P 500 3,825.33 -33.45 1.06 Nasdaq 11,127.85 -149.16 0.90 Russel 2K 1,727.76 19.77 1.16 VIX 26.70 -2.01 7.00 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.

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.