| | | | DOW 34,152.01 | +0.71% | | | | S&P 4,305.20 | +0.19% | | | | NASDAQ 13,102.55 | -0.19% | | | | *As of market close | | • | Stocks traded mixed on Tuesday, but well off the lows of the day. | | • | Oil dropped 3.3 percent, closing at $86.48 per barrel. | | • | Gold slid 0.4 percent, last going for $1,791 per ounce. | | • | Cryptocurrencies traded mixed, with Bitcoin at $23,932 at the stock market close. | | | | | | | | | | Find the New Leaders in a Shifting Industry | | | | Some industries tend to stay the same over time. That can bode well for investors, provided that industry has already consolidated into a few big players. That can be seen with companies like consumer goods. For industries that continue to face new innovations, however, leadership can change in time. Investors who look beyond the current leaders and look to those becoming new leaders stand to make an outsized return as that trend plays out. » FULL STORY | | | | | | Insider Trading Report: DISH Network Corp (DISH) | | | | James Defranco, a director at DISH Network Corp (DISH), recently picked up 35,260 shares. The buy increased his holdings by 2.1 percent, and came to a total price of $664,700. This follows up on a prior buy from the director this month, for 4,307 shares valued at just over $80,000. And the director picked up 1,250,000 shares back in May, at a cost of just over $24 million. Going further back, company insiders were more likely to be sellers. » FULL STORY | | | | | | Unusual Options Activity: Uber (UBER) | | | | Shares of ride share company Uber (UBER) have rebounded strongly off their annual lows in the past few weeks. One trader sees the possibility for some downside ahead. That's based on the September 23 $27 put. With 37 days until expiration, 4,491 contracts traded compared to a prior open interest of 103, for a 44-fold rise in volume on the trade. The buyer of the puts paid $0.44 to bet on a further downside in shares.
» FULL STORY | | | | | | • | New Home Construction Declines
Housing starts declined to 1.45 million on a seasonally-adjusted annual rate for July, according to data from the Census Bureau. That's a 9.6 percent drop from the revised number of 1.6 million set in June. That's a sign that the housing market is starting to slow. Building permits also dropped to 1.67 million from 1.7 million, slightly lower than expected. | | | | • | Saudi Arabia Invests $7.5 Billion Into US Stocks
The sovereign wealth fund for Saudi Arabia has invested about $7.5 billion into US stocks in recent days, including companies like Amazon (AMZN), JP Morgan Chase (JPM), and Microsoft (MSFT), among others. The filings come as the country has seen excess revenue this year due to higher oil prices. | | | | • | UK Sees Biggest Wage Drop on Record
The United Kingdom reports that average real wages fell by 3 percent between April and June of this year compared to the same period a year before. It's the fastest rate of decline since the country started monitoring such data in 2001. While overall wages are up 4.7 percent, the steep inflation is resulting in a lower real level. | | | | • | American Airlines Makes Bet on Supersonic Planes
American Airlines Group (AAL) is buying 20 supersonic planes. The models are the Overture planes from Boom Supersonic, and the jets can fly as fast as 1,304 miles per hour, or about 1.7 times the speed of sound. That can cut the length of longer flights in half. | | | | • | Polestar Unveils Roadster Model
Electric vehicle manufacturer Polestar (PSNY) has revealed a roadster model. Set to debut in 2026, the vehicle is an 884-horsepower hard-top convertible. Other features include recycled polyester upholstery. The company has yet to provide details such as a price or battery range for the new vehicle. | | | | | | TOP | | TTWO | 7.435% | | | M | 6.187% | | | WMT | 5.234% | | | BBWI | 5.077% | | | TGT | 4.863% | | | BOTTOM | | MRNA | 4.537% | | | SEDG | 3.93% | | | DISH | 3.808% | | | ZM | 3.409% | | | UHS | 2.952% | | | | | | | | | I think what this market is doing a really good job at is making a lot of people feel very uncomfortable. The way the market's trading, it's already been braced for bad news, so once it gets it, it doesn't hurt the market because it's already prepared for it. | | - Keith Lerner, analyst at Truist, on why the market has continued to move higher, even as data comes in showing that the economy continues to slow. | | |
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