?? Defense ETFs Outperform as Middle East Uncertainty Grips Markets
The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 5005, 699.94-9.60 (-0.17%)
Dow Jones 42,011.59-184.93 (-0.44%)
NASDAQ 17,918.47-6.65 (-0.04%)
Market close: October 3, 2024
Breaking News
Defense ETFs Outperform as Middle East Uncertainty Grips Markets.
?? Aerospace and defense ETFs are showing strong performance, even as broader markets waver under geopolitical tension. Investors are watching closely as the sector continues to outpace the S&P 500, raising questions about the long-term impact on stock market stability. MarketWatch reports.
Image source: Photo by Arturo A - Pexels
EdgeUp
?? AI-Valued: OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia. Reuters reports.
?? RetailRush: Amazon, Target and other retailers are ramping up hiring for the holiday shopping season. Yahoo Finance reports.
?? AutoRisk: Uber and Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns. Reuters reports.
?? Coffuture: Starbucks invests in two innovation farms to help climate-proof its coffee. CNBC reports.
?? RecallTruck: Tesla recalls over 27,000 Cybertrucks in fifth callback this year. Reuters reports.
?? LeviLift: Levi Strauss trims guidance as it weighs sale of Dockers business. CNBC reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time) Benzinga reports.
1. $PEV: Phoenix Motor
Total gain: 152.66%
2. $NCNC: noco-noco
Total gain: 82.95%
3. $VEV: Vicinity Motor
Total gain: 36.04%
4. $HYZN: Hyzon Motors
Total gain: 33.8%
5. $BURU: Nuburu
Total gain: 22.22%
Friday Fact
What Nasdaq Is, History, and Financial Performance
Nasdaq is a global electronic marketplace for buying and selling securities. Its name was originally an acronym for the National Association of Securities Dealers Automated Quotations. Nasdaq started as a subsidiary of the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). Nasdaq was launched after the Securities and Exchange Commission (SEC) urged NASD to automate the market for securities not listed on an exchange. The result was the first electronic trading system. Nasdaq opened for business in 1971.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on October 3.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $EVGO: EVgo
Total gain: +59.54%
The company announced that it has received a conditional commitment for a loan guarantee of up to $1.05 billion in debt financing from the U.S. Department of Energy’s Loan Programs Office under its Title 17 program. This funding aims to accelerate the expansion of its fast charging network in community locations across the U.S. The financing will enhance EVgo’s efforts to scale its charging footprint and increase nationwide access to convenient, reliable public charging stations. Benzinga reports.
2. $HKD: AMTD Digital
Total gain: +31.97%
The stock appeared to be moving on no notable news.
3. $WHLR: Wheeler Real Estate IT
Total gain: +24.42%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
APOG Apogee Enterprises
2Q 2025
Before Market Open Estimate: 1.230
Actual: 1.440
LFCR Lifecore Biomedical
1Q 2025
After Market Close Estimate: -0.460
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am Initial jobless claims - September 28
9:45 am S&P final U.S. services PMI
10:00 am ISM services - September
10:00 am Factory orders - August
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Parting Thoughts
“In investing, what is comfortable is rarely profitable.” ― Robert Arnott
Sourced in: “The Fundamental Index: A Better Way To Invest”, by Robert Arnott, published in 2008.
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