Main financial assets discussed: S&P 500, Apple (AAPL), Netflix (NFLX), Nvidia (NVDA), Tesla (TSLA), Apellis (APLS), Axsome (AXSM), Sage Therapeutics (SAGE)
Top 3 key points:
1. The S&P 500 experienced a strong reversal to the week's downward slide and is expected to start next week on a buoyant note.
2. Apple (AAPL) and other big tech stocks like Netflix, Nvidia, and Tesla have weak charts and may continue to weigh on the market.
3. The author expects the market to start positively, but believes Jerome Powell's speech at Jackson Hole will lead to another sell-off and a test of the support level at 4320.
Recommended actions:
1. **Buy**: Consider buying Apellis (APLS), Axsome (AXSM), and Sage Therapeutics (SAGE) based on the author's opinion and further research.
2. **Sell**: Consider closing out long options positions slowly and trimming positions, especially call options.
3. **Hold**: Monitor the market and be prepared to hedge through call options or put options depending on their pricing.
4. Monitor the VIX and use it as an indicator for hedging when it falls into the low 15s.
5. Pay attention to economic news, earnings reports, and Powell's speech for potential market movements.
This article mentions the stock of Apple (NASDAQ:AAPL). The author's suggestion is not explicitly stated, but they express concerns about the low dividend yield, modest dividend growth, and potential overvaluation of Apple's stock. The author also discusses Apple's strong brand, the possibility of an acquisition of Disney's assets, and the headwinds and risks facing the company. The author suggests that a recession or market correction could lead to a potential price drop and provide a good entry point for investors. However, they also acknowledge the potential for the stock to continue trending upwards, especially during the holiday season.
U.S. stock futures slip after Tesla's surge, Arm's IPO order book closes early, Apple expected to unveil new iPhone model, oil prices rise, and Disney and Charter reach deal to end blackout.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, were unchanged after hours as the stock market rally experienced losses, with the S&P 500 and Nasdaq dropping below the 50-day line, while energy stocks led and software retreated. Apple stock fell after unveiling the iPhone 15 and other products, while stocks such as Salesforce, Alphabet, General Electric, Shopify, and Nvidia remained in or near buy areas. The CPI inflation report and Adobe earnings are potential market catalysts.
Stocks slump as Oracle and Apple experience losses, with the Nasdaq Composite having its first losing day in three, while Apple's new iPhone 15 and iPhone 15 Pro fail to boost investor interest in the company.
Summary: Apple announced the iPhone 15 and iPhone 15 Pro at its annual launch event, with the Pro model keeping the same price as last year's version, while the Nasdaq Composite suffered its first losing day in three, largely driven by a 13.5% drop in Oracle's shares.
Apple's highly anticipated iPhone 15 launch disappoints investors and Wall Street.
Apple's stock dropped 7.2% in the week leading up to the iPhone 15 launch, the largest decline ever for an iPhone release, signaling investors' lack of enthusiasm for the company's stagnant growth compared to other S&P 500 companies.
Stock futures point to lower opens after a strong rally, while oil remains above $90 per barrel; Adobe sees price target hikes but stock is down; United Auto Workers goes on strike; Arm's IPO success benefits banks; Instacart raises proposed price range for IPO; DoorDash transfers stock listing to Nasdaq; HSBC initiates coverage on Microsoft, Oracle, and Salesforce; China's retail sales exceed expectations; Estee Lauder stock rises.
U.S. stocks dropped as enthusiasm for Arm's IPO faded and the United Auto Workers initiated a strike against Detroit's Big Three automakers, with the Nasdaq falling 1.6% and the S&P 500 losing 1.2%.
Arm shares soared nearly 25% on its first day of trading on the Nasdaq, boosting U.S. stocks and sparking hope that the IPO market for tech companies is reviving. Additionally, positive economic data from China and a rebound in retail sales and industrial production contributed to market optimism.
Gas prices drive up US inflation rate, reaching 3.7% in August, while excluding volatile components shows a favorable trend in core inflation; Tesla rallies following an upgrade by Morgan Stanley, Qualcomm secures a deal with Apple, and ARM Holdings PLC debuts with the largest IPO of the year; United Auto Workers strike against Detroit automakers; upcoming Federal Open Market Committee meeting and corporate earnings reports are in focus for the week ahead.
Summary: This article discusses the stocks that are experiencing significant movements, including Tesla, NIO, AMC, and Apple.
The stock market rally continued to gain ground with Treasury yields tumbling, but the Nasdaq hit resistance at a key level, and several stocks, including Tesla, Super Micro Computer, Uber Technologies, Novo Nordisk, NetEase, and Nvidia, showed new buy signals.
Dow Jones futures rose slightly while S&P 500 futures and Nasdaq futures fell; Treasury yields retreated and crude oil spiked as U.S. sanctions on Russian crude sales tightened; UnitedHealth, JPMorgan Chase, Wells Fargo, Citigroup, PNC Financial Services, and BlackRock reported their earnings; the stock market rally retreated after an inflation report and a poorly received Treasury auction; Apple and Microsoft stocks edged higher while Google and Meta Platforms fell; Dow Jones futures rose slightly; the 10-year Treasury bond yield fell; the stock market rally struggled at key levels; growth ETFs slumped; megacap stocks like Apple, Microsoft, Google, Meta, Nvidia, Amazon, and Tesla were down a fraction; investors should be cautious and ready to reduce or exit positions if necessary.
The stock market rally had a mixed week with a disappointing finish, as major indexes rose initially but hit resistance, and tech leaders backed off, leading to caution for new buys and a potential sell-off of recent purchases, while Tesla stock held up despite expectations of its worst earnings in two years.
