Daily Advantage Newsletter

June 21, 2024

Investors are also bracing for some possible added volatility today as index futures, stock index options, and stock options expire, aka “triple witching.”  Most expect options expiration to have only minor impacts today that will likely only affect institutional traders. However, some big price swings could result from the quarterly rebalancing...

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June 20, 2024

Keep in mind, the balance of the week could bring some added volatility due to lower-than-usual trading volume, as well as a couple of technical events on Friday. First, Friday is a “triple witching” day, in which stock options, stock-index futures, and stock-index options contracts all expire on the same day. Second, Friday marks the quarterly...

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June 18, 2024

Stock bulls have again taken the reins with all three major indexes starting the week in positive territory, including new record closing highs for the S&P 500 and Nasdaq. For the S&P 500, this is the 30th record high set this year and the Nasdaq’s fifth record setting close in a row. Big tech megacap stocks continue to lead, which is...

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June 17, 2024

Stock investors have a pretty quiet week ahead that will be interrupted by the “Juneteenth” holiday, which will keep stock, bond, and commodities markets closed on Wednesday (6/19). The Nasdaq and S&P 500 remain near record highs while the Dow is still lagging as tech stocks and AI optimism continue to dominate the market. The Nasdaq is up...

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June 14, 2024

Many Wall Street insiders remain worried about the nosebleed levels some of the biggest tech companies have reached - Apple, Microsoft, and Nvidia are each now valued at over $3 trillion. Some analysts have targets as high as $10 trillion for Nvidia, with each estimate seemingly trying to outdo the other. Bears continue to warn that the hype is...

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June 13, 2024

Stock bulls continue to run as both the S&P 500 and Nasdaq post their third-straight record closing highs. Wall Street bulls are cheering a much bigger than expected pullback in May inflation as well as a more “dovish” than anticipated Federal Reserve policy update. The Fed yesterday kept its benchmark interest rate unchanged, as expected,...

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June 12, 2024

Wall Street has a lot to digest today, starting with the May Consumer Price Index (CPI) this morning, followed by the Federal Reserve’s policy decision this afternoon. Headline CPI is expected to come in at +3.4% year-over-year, unchanged from April, while “core” CPI (strips out food and energy) is seen falling to +3.5% from +3.6% previously. A...

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