??AMD Shares Rise Pre-Market
S&P 5005,277.65 +42.17 (+0.81%)
Dow Jones 38,686.58 +575.10 (+1.51%)
NASDAQ 16,735.02 -2.06 (-0.01%)
Market close: May 31, 2024
Breaking News
AMD Shares Rise Pre-Market ?? after semiconductor giant unveils new AI chips to challenge Jensen Huang's $2.7 trillion Nvidia empire. Benzinga reports.
(Source: Unsplash by Olivier Collet)
The Warm Up
?? PfizerPromise: Pfizer’s drug for advanced lung cancer shows promising long-term trial results. CNBC reports.
?? RecallSafe: Tesla is recalling 125,227 vehicles in the United States due to a malfunction in its seat belt warning system. Reuters reports.
??? SalesBoost: Gap Inc. shares rallied more than 20% after the retailer reported first-quarter earnings and sales well above investors’ expectations. MarketWatch reports.
?? InfiStone: Blackstone is set to acquire a 55.1% stake in Infocom from Tokyo-listed Teijin Ltd. Benzinga reports.
?? AsanaReport: Asana posted a quarterly loss of 6 cents per share, compared to market expectations for a loss of 8 cents per share. Asana reports.
??FixedFlow: Deutsche Bank expects a slight decline in its fixed-income business this quarter, but still sees overall revenue of 30 billion euros ($32.56 billion) in 2024. Reuters reports.
A Question About Risk
Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11am ET, as our risk management educator.
What are some effective strategies for developing a trading process that minimize losses?
A lot of people answer this question by scalping - by being in the market for short periods of time and that does work. However, I want to stress to everybody that scalping isn't necessarily as low risk as it used to be. The reason I say that is because the shorter time frame, shorter spreads, larger position size that you're in the market, you expose yourself to high frequency traders. My first piece of advice is to always expand the ranges you're looking for and shrink your position size. If I have one share on and I have a $1 loss, that's very tight. If I have 100 shares on and I have a $1 loss, that's $100 risk. It’s the same amount of risk. With moves that happen like this, they're so fast that you're unable to respond to them or predict them. ?? Join a Live Session with Bob
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Friday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on May 31.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $GNPX: Genprex
Total gain: 31.40%
The company announced that its President, Chief Executive Officer and Chief Financial Officer,?Ryan Confer, will be providing an overview of the Company's gene therapies for cancer and diabetes at the upcoming 2024 BIO International Convention. Benzinga reports.
2. $CYCC: Cyclacel Pharmaceuticals
Total gain: 30.69%
The stock appeared to be moving on no notable news.
3. $GPS: Gap
Total gain: 28.15%
The company reported financial results for its first quarter ended?May 4, 2024. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
GTLB GitLab
1Q 2025
After Market Close Estimate: -0.030 Actual: N/A
HQY HealthEquity
1Q 2025
After Market Close Estimate: 0.660 Actual: N/A
BARK BARK
4Q 2024
After Market Close Estimate: -0.010 Actual: N/A
Today’s Key Economic Dates Time
(ET) / Report / Period
9:45 am S&P flash U.S. manufacturing PMI - May
10:00 am ISM manufacturing - May
TBA Auto sales - May
Extra-Time
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Parting Thoughts
"My favorite things in life don't cost any money. It's really clear that the most precious resource we all have is time." ― Steve Jobs?Sourced in: Interview for the PBS documentary series "One Last Thing" in 2011