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Show Notes
Link to Bill Cara quote)
After the close Fitch downgrades US credit rating from AAA to AA+. Hasn’t downgraded since 2011.
10 yr yield still 4%$DXY (USD) up still above 100Fewer job openings than last mo
At 10am mag 7 all redAll builders green 10am
Market in a nutshellOpen Door $OPEN outperforming NVDA
YTD $OPEN 386% YTD $NVDA 226%
$BZH outperforming $AAPL $TSLA!
Watch $TLT. If bonds do go down, then Yields will rise to attract buyers. Then USD will also rise, pressuring risk assets like stocks, gold and silver. If yields rise then more options like 4% yielding savings account will keep popping up at $AXP and $JPM and $AAPL / $GS, offering real risk free alternatives to risky a$$ equities.
$TBT #BONDS
Strong
$CAT up 9% on earnings
$AMD up 2.7% AH on earnings. Revenue falls 18% as PC market shows continued weakness. Earnings down 40%/ Sales sown 18%
Weak
$UBER down 4.9%
$LYFT down 6% sympathy. Reports next wk
$COIN down 7%
$NCLH down 13%
$JBLU down 6.6% on soft guidance
$DASH down 3%
$ETSY down 3%
$NIO down 4.38%
$WD 40% drop in sales. Worst loss ever. But not being punished down 2.4% AH
What to watch
USD, 10 Yr yield, Bonds, TLT, TBT, Yen, AAPL Amazon
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