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Closing Bell 07-08-2022

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

Market Summary

IndexValueChangePercentage
Dow31,338.15-46.40-0.15
S&P 5003,899.38-3.24-0.08
Nasdaq11,635.3113.960.12
Russel 2K1,769.36-0.24-0.01
VIX24.64-1.44-5.52

Volatile day with essentially flat market. All indices had an awesome week. Better than expected job data eased investors mind of recession. I still think we are either already in one or moderate recession is unavoidable.

The big news in the market of Elon’s backing off from buying Twitter. Tesla stock has seen massive gains in the last few days. I am personally very happy with this news. Purchasing Tweeter at 44 Billion would have been a bad decision in many way. Other highlights of this news are -

  • Billionaire Elon Musk wants to end his $44 billion deal to buy Twitter.
  • Musk’s lawyer claimed Twitter failed to comply with its obligations in the merger agreement.
  • Twitter’s board chair Bret Taylor said the company is still committed to closing the deal at the agreed-upon price and plans to pursue legal action to enforce the agreement.

Chinese stimulus is in focus. I think China based stocks will be something that will shine in the short term. BABA, NIO and even Tesla will benefit from it. In addition, India and China are buying Russian oil and energy at 30 percent or more discount. This purchase makes manufacturing from these countries very cheap and their massive GDP growth.

If this is the next bull run, history dictates on average S&P growth about 13 percent after inflation flattens out. We are certainly hoping that is the case here.

Strategy

  • Look for signs of market bottoming, which may have already happened.
  • Watch for inflation flatten up

News

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Closing Bell 07-07-2022

·262 words·2 mins
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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.

Closing Bell 07-06-2022

·343 words·2 mins
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Market Summary Index Value Change Percentage Dow 31,037.68 69.86 0.23 S&P 500 3,845.08 13.69 0.36 Nasdaq 11,361.85 39.61 0.35 Russel 2K 1,727.55 -13.78 -0.79 VIX 26.73 -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.

Closing Bell 07-05-2022

·268 words·2 mins
Trading
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.