Market Summary
| Index | Value | Change | Percentage |
|---|---|---|---|
| Dow | 31,072.61 | -215.65 | -0.69 |
| S&P 500 | 3,830.85 | -32.31 | -0.84 |
| Nasdaq | 11,360.05 | -92.37 | -0.81 |
| Russel 2K | 1,738.42 | -5.96 | -0.34 |
| VIX | 25.30 | 1.07 | 4.42 |
What a turn of events. Dow up 350 plus in the early trading, only to close -216 at the closing. All major indices gave up their gains and went into solid red. VIX edged up almost 5 percent. At the time of writing this post, all indices futures are flat.
Earning season is upon us. Netflix investors brace for subscriber losses as company works on long-term fixes. Tesla gets a new Buy rating, and the stock rallied in the early morning. Unfortunately, gave up all the gains by the end of day.
Strategy
- Look for signs of market bottoming, which may have already happened.
- Watch for inflation flatten up
News
- IBM shares slide after company trims cash forecast
- China holdings of U.S. debt fall below $1 trillion for the first time since 2010
- Netflix investors brace for subscriber losses as company works on long-term fixes
- New Buy Rating for Tesla (TSLA), the Consumer Goods Giant
- Analysts Confident in Tesla’s Strong Growth Outlook Despite Q2 Slowdown