Market Summary
| Index | Value | Change | Percentage |
|---|---|---|---|
| Dow | 31,384.55 | 346.87 | 1.12 |
| S&P 500 | 3,902.62 | 57.54 | 1.50 |
| Nasdaq | 11,621.35 | 259.49 | 2.28 |
| Russel 2K | 1,769.60 | 42.06 | 2.43 |
| VIX | 26.08 | -0.65 | -2.43 |
A massive green day today - finally! All indices are up and VIX dropping. China considers massive 250 billion dollar stimulus with historic bond sales. This news helped various chinese and us stocks that have business in China such as Tesla.
Shares of Tesla Inc. TSLA, +5.53% advanced 5.53% to $733.63 today, on what proved to be an all-around positive trading session for the stock market. Tesla Inc. closed $509.86 short of its 52-week high ($1,243.49), which the company achieved on November 4th.
NIO stock soared today with more than 8 percent gain. NIO is trading 72 percent higher from its recent low on May 12. That is a significant upward price movement. I am hopeful NIO will end up 30 dollars or more by end of 2022.
I am still not convinced this upward trajectory is here to stay. I think we will experience more downward pressure.
Strategy
- Be prepared for recession that is now in my opinion inevitable - agreed by most analyst.
- Timing the market is nearly impossible!
News
- Jobless claims edge up to highest since January; planned layoffs soar; trade deficit hits 2022 low
- China Considers $220 Billion Stimulus With Unprecedented Bond Sales
- Oil tumbles as much as 10%, breaks below $100 as recession fears mount
- Tesla is still the world’s largest electric car producer despite what you are hearing
- Analysts Confident in Tesla’s Strong Growth Outlook Despite Q2 Slowdown