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Show Notes
Link to Bill Cara quote
After the close Fitch downgrades US credit rating from AAA to AA+. Hasn’t downgraded since 2011.
10 yr yield still 4%
$DXY (USD) up still above 100
Fewer job openings than last mo
At 10am mag 7 all red
All builders green 10am
Market in a nutshell
Open Door $OPEN outperforming NVDA
YTD $OPEN 386%
YTD $NVDA 226%
$BZH outperforming $AAPL $TSLA!
Watch $TLT. If bonds do go down, then Yields will rise to attract buyers. Then USD will also rise, pressuring risk assets like stocks, gold and silver. If yields rise then more options like 4% yielding savings account will keep popping up at $AXP and $JPM and $AAPL / $GS, offering real risk free alternatives to risky a$$ equities.
$TBT #BONDS
Strong
CAT 0.00%↑ up 9% on earnings
AMD 0.00%↑ up 2.7% AH on earnings. Revenue falls 18% as PC market shows continued weakness. Earnings down 40%/ Sales sown 18%
Weak
UBER 0.00%↑ down 4.9%
LYFT 0.00%↑ down 6% sympathy. Reports next wk
COIN 0.00%↑ down 7%
NCLH 0.00%↑ down 13%
JBLU 0.00%↑ down 6.6% on soft guidance
DASH 0.00%↑ down 3%
ETSY 0.00%↑ down 3%
NIO 0.00%↑ down 4.38%
WD 0.00%↑ 40% drop in sales. Worst loss ever. But not being punished down 2.4% AH
What to watch
USD, 10 Yr yield, Bonds, TLT, TBT, Yen, AAPL Amazon
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