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š¾ Powering the Future
Plus, how much Nvidia short sellers made from the three-day sell-off.
Pencils down, itās time for lunch. Hereās what you missed this morning:
šØ | Market Snapshot: The Dow fell nearly 1%, while the S&P 500 and the Nasdaq Composite rose with the help of a Nvidia rebound.
š | In focus: Consumer confidence dipped lower to 100.4 in June, a slight decline from Mayās 101.3 reading. However, this decline in consumer sentiment was not as bad as analysts were expecting.
šø | Noteworthy: According to data from Ortex Technologies, Nvidia short sellers raked in roughly $5 billion in profits from the chip giantās selloff over the past three trading sessions.
š¾ | The Midday Trade: Powering the Future. Scroll down for more.
Plus, our partner is on a mission to show a small group of people how they could start targeting an extra $500 or more a week.
šļø You currently have 0 referrals, only 1 away from receiving JPMorgan's Top Picks For June.
TOGETHER WITH JACK CARTER TRADING
The average household has just north of $5,000 a month in expenses ā and thatās just the bare necessities.
Meanwhile, the average monthly income in the United States is only $4,340 a month. Thatās a huge income gap many folks canāt fill.
Thatās exactly why Jack Carter is on a mission to show a small group of people how they could start targeting an extra $500 or more week after weekā¦ Step-by-stepā¦ Starting right now.
This isnāt some boring, slow-growth dividend strategy. Itās not about bonds, risky naked options, or even gold. It all comes down to placing one of these ā2-Step Tradesā each and every week.
Whether youāre starting with $1 million in your retirement accountā¦ Or just ten grandā¦ None of that matters.
But you donāt have to make a decision immediatelyā¦
Watch me place one live for FREE and decide for yourself!
* The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 1/1/21 to 1/23/24 the average return per options trade winners and losers is 3.1% in 3 days, with a 97% win rate. Annualized the return on options is 163% per year.
STREET STATS
MORNING MOVERS
CCL: Shares of Carnival Corp surged after the cruise line reported a stronger-than-expected quarter and broke its customer deposit record by $1.1 billion (YF)
SEDG: SolarEdge Technologies saw its stock plummet after announcing that it expects negative free cash flow of $150 million in the current quarter (Barronās)
MSFT: Microsoft recovered from a 1% dip during premarket trading after the EU charged the company with breaching antitrust rules (CNBC)
SE: Shares of Airbus fell on news that the company is cutting its targets for 2024, including aircraft deliveries and earnings (CNBC)
EPAC: Enerpac Tool Group saw its shares fall after reporting quarterly sales below Wall Street estimates and lowering its net sales forecast (SA)
TOP CALLS
Pool: Stephens & Co. Maintains Overweight on Pool, Lowers Price Target to $350 (Trade It)
Landstar System: Evercore ISI Group Maintains In-Line on Landstar System, Raises Price Target to $173 (Trade It)
Riot Platforms: Cantor Fitzgerald Reiterates Overweight on Riot Platforms, Maintains $23 Price Target (Trade It)
Wolfspeed: Canaccord Genuity Maintains Buy on Wolfspeed, Lowers Price Target to $45 (Trade It)
Tesla: RBC Capital Reiterates Outperform on Tesla, Maintains $227 Price Target (Trade It)
KBR: DA Davidson Maintains Buy on KBR, Maintains $78 Price Target (Trade It)
THE MIDDAY TRADE
Going Green
According to UBS (UBS), renewable energy is going to take center stage as domestic electricity demand continues to skyrocket.
As Big Tech demands more and more energy to fuel the growth of AI, and coal plants nationwide continue to shut down, a perfect storm is emerging for renewable energy to thrive.
The investment bank predicts that the US will require 850 terawatt hours of additional generation capacity by 2030. It expects that surplus demand to be met by a combination of solar, wind and natural gas.
Tech Demand
UBS analysts believe that the combination of increasing demand and declining coal power provides renewable energy with a long growth runway.
In addition, many major companies across a broad spectrum of industries have committed to 100% renewable energy goals. However, tech companies such as Amazon (AMZN) and Meta (META) will far outweigh companies like Nike (NKE) when it comes to demand.
Amazon, Meta, Microsoft (MSFT), and Google (GOOG) have already signed contracts for 230 terawatt hours of power, which will come online in the next two years.
Stock Picks
UBS has highlighted three stocks that it thinks stand to benefit from the increase in renewable energy demand: First Solar (FSLR), Fluence Energy (FLNC) and Array Technologies (ARRY).
Array technology has the biggest upside based on target price at 112%. First Solar and Fluence have upsides of 25% and 64%, respectively, according to the investment bank.
The world has been moving toward renewable energy for some time, and AIās energy demand isnāt going anywhere, so these stocks could prove very valuable over the next few years.
TOGETHER WITH JACK CARTER TRADING
The average household has just north of $5,000 a month in expenses ā and thatās just the bare necessities.
Meanwhile, the average monthly income in the United States is only $4,340 a month. Thatās a huge income gap many folks canāt fill.
Thatās exactly why Jack Carter is on a mission to show a small group of people how they could start targeting an extra $500 or more week after weekā¦ Step-by-stepā¦ Starting right now.
This isnāt some boring, slow-growth dividend strategy. Itās not about bonds, risky naked options, or even gold. It all comes down to placing one of these ā2-Step Tradesā each and every week.
Whether youāre starting with $1 million in your retirement accountā¦ Or just ten grandā¦ None of that matters.
But you donāt have to make a decision immediatelyā¦
Watch me place one live for FREE and decide for yourself!
* The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. From 1/1/21 to 1/23/24 the average return per options trade winners and losers is 3.1% in 3 days, with a 97% win rate. Annualized the return on options is 163% per year.
SURVEY THE STREET
At the June FOMC meeting, Jerome Powell said that no one on the Fed committee āhas rate hikes in their base case.ā
Unfortunately, there seems to be a change in tune recently. San Francisco Fed President Mary Daly recently stated, āThe bumpiness of inflation data so far this year has not inspired confidence.ā
To top that, Fed Governor Michelle Bowman discussed this morning how she would be open to raising rates if inflation doesnāt pull back.
Will the Fed Hike or Cut Rates in 2024? |
Plus, Yesterdayās Poll + Results:
š©š©š©š©š©š© Yes ā
šØā¬ļøā¬ļøā¬ļøā¬ļøā¬ļø No ā
What did you think of today's edition? |
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