Afternoon Note
The Nasdaq and the S&P 500 are rebounding today. Semiconductor stocks are leading the rebound, but the session has the aura of summer doldrums meets gathering clouds of unknowns.
It's a slow roll, on light volume, as investors brace for directional signals from major earnings reports on the docket.
The pain in CrowdStrike (CRWD) shares continues today after Friday’s faulty update to one of their end-point security programs called the Falcon platform. This caused the whole endpoint security application to crash and display the dreaded “Blue Screen of Death.” The recent sell-off saw shares down 11% on Friday, with a further sell-off, down over 10% today, taking it below both its 50 MA and now 200 MA. The continuation from over the weekend is still impacting flights, hospitals are still disrupted, and many other systems are still down as users rush to implement the new patch on all their systems. While some firms have cut their ratings, Wells Fargo and RBC Capital maintain an outperform, but have lowered the targets.
Interest rates are lower today, as the 10-year hovers around 4.22%, while the 2-year is down to 4.52%. Also, the dollar is back to flat, and is currently down 1.5% overall in July, helped in part by investors betting on a September rate cut.
We will get more economic data this week, such as second-quarter GDP, PCE price index report, and flash PMIs. These reports will help give us more insight into whether we can expect a September cut.
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1/14/2025 1:14 PM | Rebound Falters |
1/14/2025 9:48 AM | GOOD BOUNCE BACK |
1/13/2025 1:32 PM | Chipping Away |
1/13/2025 9:41 AM | THE GAME HAS BEEN ALTERED |
1/10/2025 1:10 PM | Under Pressure |
1/10/2025 9:41 AM | ALL EYES ON THE JOBS REPORT |
1/8/2025 1:34 PM | Anxiety in the Air |
1/8/2025 9:50 AM | NASDAQ IS A BEEHIVE |
1/7/2025 1:40 PM | Problematic Bond Market |
1/7/2025 9:48 AM | Stocks of The Future |
1/6/2025 1:26 PM | Continuing Friday’s Momentum |
1/6/2025 9:47 AM | LET 2025 BEGIN |
1/3/2025 1:34 PM | Friday Spark |
1/3/2025 9:28 AM | CATCH THAT PIGEON |
1/2/2025 1:10 PM | Bumpy Start |
1/2/2025 9:47 AM | THE NEW YEAR |
12/31/2024 9:45 AM | HAPPY NEW YEAR |
12/30/2024 12:48 PM | Not The Place To Panic |
12/30/2024 9:44 AM | WALTZING INTO 2025 NOT EASY |
12/27/2024 1:01 PM | Santa Needs Eggnog |
12/27/2024 9:49 AM | POST-CHRISTMAS LOVE FOR BROKEN RETAILERS |
12/26/2024 1:43 PM | Holiday Mode |
12/26/2024 10:15 AM | Santa’s Tired |
12/24/2024 10:04 AM | THE MAG SEVEN GIFT KEEPS GIVING |
12/23/2024 1:14 PM | Mixed Monday |
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