??Intel’s Federal Chips Grant Slashed Below $8 Billion Amid Pentagon Contract Considerations

The articles and information in this newsletter are a summary of Friday’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, 969.34+20.63 (+0.35%)

Dow Jones 44,296.51+426.11 (+0.97%)

NASDAQ 19,003.65+31.25 (+0.16%)

Market close: November 22, 2024

Breaking News

Intel’s Federal Chips Grant Slashed Below $8 Billion Amid Pentagon Contract Considerations.

?? The U.S. government plans to trim Intel’s $8.5 billion federal chips grant, citing a $3 billion Pentagon contract. The funding supports semiconductor production as part of the CHIPS Act initiative, but adjustments reflect evolving priorities in domestic chip manufacturing. Reuters reports.

Image source: Wikimedia Commons

EdgeUp

?? AmazAI: Amazon to invest another $4 billion in Anthropic, OpenAI’s biggest rival. CNBC reports.

?? McValue: McDonald's to expand US value menu as fast food chains battle for bargain seekers. Yahoo Finance reports.

?? BoschCut: Bosch to axe 5,550 jobs in latest blow to German auto sector. Yahoo Finance reports.

?? GapRise: Gap surges as upbeat sales estimates signal promising start to holiday season. Reuters reports.

?? AdaniGate: Adani Group firms' shares fall for second session after US indictments. Reuters reports.

?? Gatekeepers: Apple and Google could face a competition probe over their huge mobile ecosystems in the UK. 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. $WLDS: Wearable Devices

Total gain: 73.93%

2. $QMMM: QMMM Holdings

Total gain: 60.02%

3. $RGTI: Rigetti Computing

Total gain: 34.19%

4. $KULR: KULR Tech Group

Total gain: 28.06%

5. $SMTK: SmartKem

Total gain: 27.49%

Trading Strategies

Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum"

Shorting Safely: Tips for Minimizing Risk

Here are some practical steps to help manage your short positions safely.

• Look for Rallies that Stall: Rather than jumping in at the bottom, try to short into a rally that is losing momentum. This reduces the likelihood of getting caught in a sharp rebound.
• Set Profit Targets: Unlike long trades, where you might hold for an extended uptrend, short trades should have clear profit targets. These targets are points where we either take full or partial profits or tighten our stops to lock in gains.
• Consider the Borrowing Cost: Remember, when you short, you’re borrowing the stock, which comes with costs. These fees eat into your profits, so it’s wise to treat short positions as shorter-term trades.

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Refer a Friend & Earn Together

Did you know that it pays to invite your friends to TradeZero?When they fund a new account with us, you'll both receive $100 USD. T&Cs apply.

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Start your day with Market Insights

Join pre-market sessions with experienced educators:??

David Green: Wednesday, at 8 AM ET

?? Bob Iaccino: Thursday, at 9 AM ET ?? Richie Naso: Friday, at 9 AM ET At TradeZero, we don’t just want you to trade—we want you to master the game. Every week, we’re offering free live sessions from top market experts—interactive, insightful, and designed to give you the edge.

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Friday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on November 22.

(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)

1. $PDYN: Palladyne AI

Total gain: +129.50%

The stock appeared to be moving on no notable news.

2. $QMCO: Quantum

Total gain: +124.13%

The stock appeared to be moving on no notable news.

3. $NA: Nano Labs

Total gain: +89.02%

The company has announced the launch of its second-generation V Series products. Powered by the advanced Cuckoo 3.0 chips, this new series—which includes the V2, V2H, and V2X models—sets new benchmarks for performance and energy efficiency in the crypto mining industry. The V2H and V2X models deliver nearly four times the computing power of their first-generation predecessors. With significant improvements in power efficiency, the V2 Series cements its status as one of the most efficient mining solutions available. Benzinga reports.

Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

A Agilent Technologies

4Q 2024

After Market Close Estimate: 1.400

Actual: N/A

TBBB BBB Foods

3Q 2024

After Market Close Estimate: 0.030

Actual: N/A

CENTA Central Garden & Pet

4Q 2024

After Market Close Estimate: -0.220

Actual: N/A

Today’s Key Economic Dates

Time (ET) / Report / Period

None scheduled

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Parting Thoughts

“The market is a reflection of human behavior and sentiment, which means it can be unpredictable but not irrational.” ― Daniel Crosby

Sourced in: “The Behavioral Investor”, by Daniel Crosby, published in 2018

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