Wednesday, July 28

stock market

EV cars, Lucid Air car, Lucid Motors, Lucid Motors stock, Lucid Motors stock price, Markets, MI Exclusive, Mover, stock market, stock market 2021, Tesla, Trading

Lucid Motors spikes 11% in public debut as CEO says it’s well-positioned to compete with Tesla

Lucid Motors plans to go public in a $24 billion tie-up with a SPAC MediaNews Group/Bay Area News via Getty Images Lucid Motors surged as much as 11% in its public debut on Monday, having completed its SPAC merger with Churchill Capital on Friday.Lucid is seen as a Tesla competitor with its high-end luxury electric vehicles, and CEO Peter Rawlinson told CNBC on Monday that it is well positioned to compete with the undisputed leader.Rawlinson pointed out that the $4.4 billion it raised in its SPAC merger pales in comparison to the $300 million Tesla raised when it went public in 2010, putting Lucid in an "enviable position" relative to Tesla's early days. "That's a resounding difference," Rawlinson said, adding that its fundraising puts Lucid in a "great position for strategic gro...
Behavioral Economics, Fund Flows, Government Bonds, Markets, MI Exclusive, stock market, stock performance

The performance of your stock portfolio can reflect the kind of music you listen to-with happy tunes correlating to higher returns, according to a top UK academic

Caroline Purser/Getty Images What type of music people listen to is reflected in stock markets, Finance professor Alex Edmans says. There is a correlation between the positivity of music and returns, volatility, fund flows and even government bonds. This is because emotions drive decision making and are reflected in music choices, Edmans argues. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. What type of songs you listen to could be reflected in how your stock portfolio performs, as there is evidence of a correlation between the positivity of the music investors listen to and returns, according to Alex Edmans, who is professor of finance at London Business School .Traditional economic belief is that fundamentals impact markets-but humans aren't automate...
Dow, Markets, MI Exclusive, NASDAQ, s&p 500, stock market, Stock market wrap, Twitter

US stocks close at record highs as investors cheer blockbuster earnings

Xinhua/Wang Ying/ Getty Images US stocks finished the week strong with all three major indexes closing at records Friday as investors cheered blockbuster tech earnings and looked towards next week's Fed meeting.Shares of Snap soared 23% after the social media app exceeded earnings expectations. Twitter also gained after beating estimates, and Bank of America analysts said the stock could rise another 30% as the social media platform stands to see further growth in advertising sales which have been recovering after the onset of the coronavirus pandemic. The good news lifted tech peers Facebook and Google both by more than 3%. Here's where US indexes stood at the 4:oo pm ET close on Friday:The blank-check company backed by billionaire Thomas Barrack withdrew its application for an ...
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US stocks edge higher on blockbuster tech earnings, while Asian equities dip on concerns of tighter market regulation

TIMOTHY A. CLARY/AFP via Getty Images US stock futures rose on Friday as investors focused on strong tech earnings, and shrugged off underwhelming economic data ahead of next week's Federal Reserve meeting.Futures on the Dow Jones, S&P 500, and Nasdaq rose 0.4%, signaling a higher start to trading later in the day.A fresh round of company earnings saw tech stocks outperform, with both Snap and Twitter beating earnings estimates and rising in after-hours trading. Facebook and Alphabet shares also rose in extended trading. US initial jobless claims for the week ended Saturday came in at 419,000, far above expectations of 350,000, but analysts said this was dismissed by investors as "seasonal." Separately, the potential $1 trillion infrastructure deal is getting closer to th...
corporate buybacks, Finance, Markets, MI Exclusive, share buybacks, stock market, stock market 2021, Stock Market Analysis, Stock Market Outlook, Trading

Company stock buybacks are on track to hit a record $1 trillion amid ongoing economic recovery

Drew Angerer/Getty Images US companies are set to spend a record $1 trillion on stock buybacks amid the ongoing economic recovery, according to a JPMorgan note.The surge in stock buybacks comes after the COVID-19 pandemic hampered the practice amid heightened economic uncertainty.Leading the charge is Apple's $90 billion stock buyback announced earlier this year.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Corporate share repurchases are returning with a vengeance this year after the COVID-19 pandemic sidelined the popular shareholder return practice.According to a Tuesday note from JPMorgan, corporate stock buybacks are on track to hit a record $1 trillion amid the ongoing economic recovery.Amid the heightened economic uncertainty during the pandemic,...
ETFs, Markets, MI Exclusive, retail investing, retail investing activity, stock market, stock market 2021, Vanda Research

Retail investors bought a record $2.2 billion of stocks on Monday, with many seeking shelter in ETFs as the market melted down, data shows

vgajic/Getty Images Retail investors bought $2.2 billion in equities during Monday's rout, according to Vanda Research. ETFs accounted for 44% of total retail purchases, higher than the average of 29%. The data suggest that retail investors were scared to buy the dip in individual stocks. See more stories on Insider's business page. Retail investors shoved more than $2 billion into the US stock market during Monday's rout, taking advantage of sliding prices largely by ramping up purchases of shares in major index funds, data released by Vanda Research Wednesday showed. Individual investors bought a record $2.18 billion in equities during the selloff at the start of the week, Vanda said in a note. The worst session for stocks so far in 2021 was set off by fears that rising COVID...
Dow, Markets, MI Exclusive, NASDAQ, s&p 500, stock market, Stock market close, Stock Market Sell-Off

Dow stages 550-point comeback after harsh sell-off as investors remain optimistic on growth

Xinhua/Wang Ying/ Getty Images US stocks staged a comeback Tuesday after a harsh sell-off the previous day, with the Dow rebounding 550 points as investors bought the dip and bet on the continued strength of the economic recovery. Industrials, real estate, and financial stocks gained the most out of any sectors in the S&P 500. Industries that hinge on the economic re-opening like restaurants, travel, and lodging all ended the day in the green. On Monday the S&P 500 faced its steepest decline since May while the Dow Jones saw its largest daily drop for the year. Here's where US indexes stood at the 4:00 pm ET close on Tuesday: JPMorgan's head of US equity strategy increased his year-end S&P 500 price target to 4,600 from 4,400, representing potential upside of 8% from Mon...
Didi Chuxing, EY, Investing, IPO Market, IPOs 2021, Markets, MI Exclusive, SPAC activity, stock market

Nearly 600 IPOs rolled out globally in the second quarter, dominated by traditional listings while SPAC activity cooled, says EY

597 IPOs came online in the second quarter of 2021, the busiest quarter for that market in 20 years, said EY. There were 59 SPAC IPOs during the period, a slowdown from 299 during the first quarter. But SPAC activity is poised to pick up again in the second half of 2021. LoadingSomething is loading. The second quarter of 2021 marked the most...
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Virgin Galactic drops 8% after rival Blue Origin launches Jeff Bezos into space at higher altitude

Bezos Blue Origin Launch July 2021 Blue Origin / New Shepard First Human Flight Shares of Virgin Galactic fell as much as 8% on Tuesday after rival Blue Origin launched Jeff Bezos into space.Blue Origin's launch came about one week after Virgin Galactic launched Richard Branson 53 miles above earth.Blue Origin's launch hit a higher altitude than Virgin Galactic, as it surpassed the Karman line 62 miles above earth.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Virgin Galactic was under pressure on Tuesday, falling as much as 8% following the successful launch of Blue Origin's rocket, which briefly carried Jeff Bezos and others into space.Amazon founder Bezos, his brother Mark, Wally Funk, and Oliver Daemen were launched 66 miles above the earth, surpassi...
Analyst Note, Finance, Katie Stockton, Markets, MI Exclusive, stock market, Stock Market Analysis, Stock Market Outlook, Stocks, Technical Analysis, Trading

The recent stock sell-off is a short-term’healthy pullback’ as the market hits extremes, according to one technical analyst

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, March 9, 2020. Bryan R Smith The ongoing sell-off in the stock market represents a "healthy pullback," technical analyst Katie Stockton said in a note on Monday.The S&P 500 is down about 3% from its record high, with losses accelerating in Monday's trading session."We think the pullback will be short-lived, maturing later this week," Stockton said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.A sell-off in US stocks accelerated on Monday, with the S&P 500 falling as much as 2% amid investor concerns about rising COVID-19 cases due to the Delta variant. But technical analyst Katie Stockton of Fairlead Strategies views the sell-off in stocks as a "healthy pullback" that wil...