The bears are a wandering.
how many days of capitulation ..hopefully just today!
Last night's action below:
FED Rate Cuts on the way?
US Stocks Fall for 2nd Day, as Microsoft and Meta Weigh
Stocks in the US closed sharply lower on Thursday, led by the tech-heavy Nasdaq, as disappointing earnings guidance from Big Tech giants Microsoft and Meta raised concerns about their high AI costs and potential profit pressures. The S&P 500 lost 1.8%, the Nasdaq 100 tumbled 2.4%, booking their worst day in over a month and the Dow declined 378 points. Both Meta (-4.1%) and Microsoft (-6%) flagged significant increases in AI-related spending, weighing on investor optimism and hitting shares in other major tech companies, with Nvidia (-4.7%) and Amazon (-3.4%) down as well. In economic news, the latest PCE index showed core inflation rose 2.7% annually in September, while jobless claims dropped to a five-month low of 216,000, indicating a robust labor market and diminishing hopes for imminent Fed rate cuts. Apple and Amazon are set to report earnings after the bell, rounding out a challenging week for Big Tech stocks.
113 minutes ago
Why so negative?
You miss some of the best opportunities in the US markets otherwise
Besides AMZN here are a few more
Corvus Pharmaceuticals
Since my heads up at 2.86 a few months ago it has "mooned" significantly.
They have one drug in the pipeline that could potentially leave DXB for dead and cause further writedowns and headaches from the CSL Vifor acquisition. That's if they decide to add Kidney disease to their pipeline.
But it is too risky because it is "pre-revenue" and has a market cap of 569m.
Accounting for the 600m "shelf-offering" with Jefferies, it potentially has a fully diluted market cap of 1.1bn placing this in the same league as CU6. That's if everyone takes the shelf offering in the not to distant future.
It is starting phase III soon, much more advanced than CU6. But I'm quite confident this will not go down during the election period.
I don't hold yet, but watching phase III with interest. But do wish I bought the trend rather than stayed cautious because it had no revenue. And, unlike the other pharma potentials on the ASX, these guys have a excellent track record.
Omnicell
Transitioning their Medtech to a more ARR razorblade model.
However Omnicell has potential leadership uncertainty as the CEO and chairman has been around for quite some time. Hence the pump and dump on beating guidance estimates.