?? Google €1.49 Billion EU Antitrust Fine in Ad Case Overturned
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 500 5.634,58 +1,49 (0,026%)
Dow Jones 41.606,18 ?15,90 (0,038%)
NASDAQ 17.628,06 +35,93 (0,20%)
Market close: September 17, 2024
Breaking News
Google €1.49 Billion EU Antitrust Fine in Ad Case Overturned ?? The company‘s €1.49 billion antitrust fine imposed by the European Commission in 2019 for its online ad business was overturned. The EU’s General Court annulled the penalty, stating that regulators failed to prove Google’s contracts harmed competition or strengthened its dominant position in search advertising. MarketWatch reports.
Image source: Photo by Adarsh Chauhan on Unsplash
EdgeUp
? IntelAI: Intel rises as Amazon deal boosts struggling foundry unit's prospects. Reuters reports.
??? InstaSafe: Instagram rolls out teen accounts with privacy, parental controls. Reuters reports.
?? Starfly: SpaceX Starlink has 2,500 aircraft under contract after United megadeal, director says. CNBC reports.
? AccenTiming Accenture to delay bulk of promotions by six months on outlook. Yahoo Finance reports.
?? AppleWatch10: The Apple Watch Series 10 offers mostly minor upgrades, but faster charging is a big plus. CNBC reports.
?? TelegramTrouble: Telegram CEO Pavel Durov faces 10-year sentence and €500,000?fine in France's first cybercrime case under new law. Benzinga 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. $PRTG: Portage Biotech
Total gain: +173.5%
2. $OMEX: Odyssey Marine Explorer
Total gain: +93.22%
3. $VEEA: Veea
Total gain: +70.47%
4. $LUNR: Intuitive Machines
Total gain: +46.11%
5. $VVPR: VivoPower International
Total gain: +31.19%
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.
Are There Any Specific Key Factors or Market Conditions That Determine When to Use Measured Moves?
I use measured move targets if I don’t have another version of a target. For example, in a trade rotation zone like this, if I had some price action here that contradicted the measured move target, I would use this price action because recent price action is more important than past price action. Consider these as common pitfalls or mistakes related to measured moves. Process these factors before you enter the trade. The common mistake is saying, "Well, it's reached 3750. I'm already up two and a half percent. I'm just going to cover it." That's the most common mistake. The beautiful thing about measured moves is you don't have to overthink. You just measure them. How did you get your target? It's a measured move target. What does that mean? It means it takes all of the emotion out of finding a target.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on September 17.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $PLCE: Children's Place
Total gain: +40.79%
The stock appeared to be moving on no notable news.
2. $HCTI: Healthcare Triangle
Total gain: +40.48%
The stock appeared to be moving on no notable news.
3. $LASE: Laser Photonics
Total gain: +30.25%The company, in collaboration with its sister company Fonon Technologies, announced that it is fulfilling an order for a DefenseTech laser system from the Pearl Harbor Naval Shipyard and Intermediate Maintenance Facility. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
GIS General Mills
1Q 2025
Before Market Open Estimate: 1.060 Actual: 1.070
SANG
Sangoma Technologies
4Q 2024
After Market Close Estimate: -0.030 Actual: N/A
SCS Steelcase
2Q 2025
After Market Close Estimate: 0.370 Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:30 am Housing starts - August
8:30 am Building permits - August
2:00 pm FOMC interest-rate decision
2:30 pm Fed Chair Powell press conference
Extra-Time
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Parting Thoughts
“Successful traders pay attention to the process of trading, not just to the outcome.” ― Alexander Elder
Sourced in: “Trading for a Living”, by Alexander Elder, published in 1993