Stock Market Summary

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Today we have a message from: WebStreet

Cash is king 👑

Not long ago, investors were chasing rocketship startups in hopes of a huge payday.

Boy how times have changed.

Those overvalued, buzzy startups just aren't as attractive anymore. You know what's cool? Undervalued companies that earn real profit.

WebStreet finds these companies, acquires them, improves them, and sells them. (And lets you invest)

• They buy overlooked businesses already earning money

• They improve operations, so they make even more money

• They bundle everything into a single, powerful fund that you can invest in. It's like micro private equity on autopilot.

Unlike a lot of startups, WebStreet is doing great.

The News Buzz

• Live Bloomberg TV news:  "CBO estimates extending Trump tax cut costs $4.6T."

• are ‘well-positioned’ to deal with a ‘severe’ recession. On Wednesday, the central bank also said that the 31 banks participating in the U.S. Federal Reserve's annual stress test will collectively be required to increase their stress capital buffers (SCBs).

• Cathie Woods is adding to nine of her existing positions. ROKU, BLDE, and PD are some of the names on that shopping list. 

• Micron Stock Slumps Despite Strong Earnings.

UK Stock Market

• Is the UK market, EWU ETF, ready to roll over? I think so.

• Remember my post that the UK market usually leads the US market.

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MSFT Looking Down?

• Is MSFT, one of the Magnificent 7 and in the top 3 stocks in market capitalization, along with AAPL and NVDA, going to roll over here?

Market Summary

Market Data

As of close on 26 June 2024.

What Has Been

• On Tuesday, I opined that the outperformance of the laggards was probably a one-day affair. Indeed, on Wednesday, the laggards were again dominating the red.

• The Asian markets were mixed, while major European stock markets had a negative day on Wednesday.

• Yesterday was a barely green day in the US while advances lost to declines and down volume was ahead of up volume; there was not much to write home about:

  • Dow advanced 15.64 points or 0.04% to 39,127.8.

  • S&P 500 advanced 8.6 points or 0.16% to 5,477.9.

  • Nasdaq advanced 87.5 points or 0.49% to 5,477.9.

  • Russell 2000 declined 4.22 points or -0.21% to 2,018.12.

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• Mixed messages from the market. With a marginally up day . . .

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