Microsoft regains title of world's most valuable public company from Nvidia ??
S&P 500 5,473.22 -13.81 (-0.25%)
Dow Jones 39,134.96 +300.10 (+0.77%)
NASDAQ 17,721.59 -140.64 (-0.79%)
Market close: June 20, 2024
Breaking News
Microsoft regains title of world's most valuable public company from Nvidia
The computing giant is currently valued at $3.2trn (￡2.5trn), just ahead of its closest rivals Nvidia and Apple. Sky News reports.
Image source: Wikimedia Commons
The Warm Up
NewCommand: HSBC names Goldman Sachs veteran as global head of institutional client group. Yahoo Finance reports.
RaiseMillion: Rental car firm Hertz plans to raise $750 million through notes. Yahoo Finance reports.
AILead: PayPal hires Walmart exec as chief technology officer in AI push. Reuters reports.
DominancePlans: Nvidia set to solidify position as world's most valuable company. Reuters reports.
Acceleration: Accenture forecasts 2024 revenue growth above estimates on AI demand. MSN reports.
DardenResults: Olive Garden parent’s stock rises as profit beat overshadows muted outlook. MarketWatch 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 is multi time-frame analysis?
You’ll hear people talk about market internals or market tone, it all relates to the same thing. Is the asset or security you’re trading in a long-term bullish or bearish mode? Multi time-frame analysis is very important because it tells you the general theme of the asset you're looking at. Is the general theme of the asset you're looking at up or down? Personally, I look at a weekly and then I go down to a daily and sometimes a four-hour chart. I use something called the rule of two and the rule of six. When you're looking at long-term time-frames, you want to multiply by two or use six. What do I mean by that? If you're looking at a one-minute chart, to multiply that by six, you're talking about a six-minute chart. I don't want traders to look at a six minute chart. What's the closest common chart to a six-minute chart? It's five minute, so your higher time frame is going to be the five-minute. In the rule of two or the rule of six, you look at the five minute. What's the next times two or times six? Times six is thirty. So, you can go up to a thirty-minute chart or you do the two and you go up to a ten-minute chart and that's your next time-frame higher.
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Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on June 20.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
)1. $ALUR: Allurion Technologies
领英推荐
Total gain: 145.28%
The company announced the publication of a study demonstrating an average lean mass gain of 5.6% in patients with an average weight loss of 14% at four months on the Allurion Program. Benzinga reports.
2. $ZAPP: Zapp Electric Vehicles
Total gain: 71.32%
The company reported financial results for the six months ended March 31, 2024. Benzinga reports.
3. $NNE: Nano Nuclear Energy
Total gain: 31.90%
The company announced that Professor Massimiliano Fratoni, Ph.D., has been awarded the American Nuclear Society's Untermyer & Cisler Reactor Technology Metals in recognition for his outstanding contributions to the advancement of nuclear technology, specifically for the groundbreaking development of fluoride-cooled pebble-bed reactors and pioneering work in various other advanced reactor technologies. Benzinga reports.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
FDS FactSet Research Systems
3Q 2024
Before Market Opens Estimate: 3.900 Actual: 4.370
KMX CarMax
1Q 2025
Before Market Opens Estimate: 0.980 Actual: 0.970
Today’s Key Economic Dates
Time (ET) / Report / Period
9:45 am S&P flash U.S. services PMI - June
9:45 am S&P flash U.S. manufacturing PMI - June
9:45 am Existing home sales - May
Extra-Time
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Parting Thoughts
“Routine is necessary for efficiency; breaking routine is necessary for adaptation” ― Brett N. Steenbarger
Sourced in: "Trading Psychology 2.0: From Best Practices to Best Processes" by Brett N. Steenbarger, published in 2015