As America soul-searches its way through a strange summer, the Dow managed to work its way back on top of a big level yesterday.
But it’s not clear if the blue-chip gauge can hang above 22K, as Wal-Mart’s results arrive and doubts grow about another rate hike this year. And, of course, investors continue to keep a wary eye on Washington and the Charlottesville fallout.
What about the FAANG gang? Those market darlings have had a spotty August, though they’re still up big for the year. Facebook
is up 0.4% in the month to date, and Apple
is a big winner with its 8% rise. Yet Amazon
is off 1%, Netflix
down 6%, and Google parent Alphabet
That brings us to our call of the day from TipRanks, which went shuffling through the latest quarterly filings to unearth three less-prominent tech stocks getting love from hedge funds, often called the smart money.
At the top of that list is Chinese e-commerce giant Alibaba
, which joins Wal-Mart on the earnings docket ahead of the open. Since the last quarterly reporting period, hedge funds upped their BABA holdings by an aggregate of 6.35%,” notes a TipRanks blog post. Among the BABA buffs are Daniel Loeb and David Tepper.
was another favorite in the latest quarter, with funds upping their holdings in the software maker by 20%. Some 38 funds established new positions and 64 added to their stocks. Among the bulls’ talking points: impressive new-customer growth.
Finally, hedge-fund managers have been snapping up NXP Semiconductors
, which Qualcomm
has been trying to buy out. Sorobon Capital started a brand-new $1.8 billion position, notes TipRanks, adding that activist investor Paul Singer has called it “significantly undervalued.”
Check out the full post here for more on these three.
Key market gauges
is back on track for another record day, heading toward $4,500 this morning.
, S&P 500
and Nasdaq-100 futures
are falling modestly. That’s as investors are pushing up gold
and the dollar
, while oil
wobbles. It was a mixed session for Asian stocks
, and European markets
are having at tough day.
See the Market Snapshot column for the latest action.
Opinion: This is the lesson the stock market has learned from Charlottesville
It’s been tough going for some commodities. Check out these charts (hat tip to today’s Daily Shot)
Wave goodbye to wheat:
Pop goes corn’s gain:
Cotton can’t catch a break:
is up nearly 5% in premarket after profit and revenue came in ahead of forecasts. It’s been a less cheery reception for Wal-Mart
after its results.
looks set for a down day after cutting its full-year view.
, Ross Stores
and Applied Material
are due to report after the close.
is getting hit by a forecast for another drop in sales. Meanwhile, CFO Kelly Kramer told MarketWatch that a repatriation holiday could happen as soon as next year.
CEO Tim Cook says Apple
will donate $1 million each to the Southern Poverty Law Center and the Anti-Defamation League, and will match employee donations to human-rights organizations two-to-one through Sept. 30. There’s more where this came from:
You know what? Me too. For every retweet, I will donate to @splcenter, up to $2,000. Hope others are inspired too! Every little bit helps. https://t.co/pyF7Adl2l2
— Jenny Bent (@jennybent) August 17, 2017
HBO cannot get a break. Fresh off the Spanish accidentally airing a Game of Thrones episode 6 days early, it seems Facebook and Twitter accounts were hacked.
“You cannot be against General Lee and be for General Washington, there literally is no difference between the two men.” — That’s an excerpt of an email forwarded by POTUS’s personal lawyer John Dowd to journalists, government officials and friends.
The original author of the email, Jerome Almon, is behind several government conspiracy websites. His email claims that terrorists are directing Black Lives Matter, according to The New York Times.
Weekly jobless claims and the Philly Fed survey are coming at 8:30 a.m. Eastern. That’s followed by industrial production at 9:15 a.m., then leading indicators at 10 a.m.
Things are getting so desperate in Venezuela that zoo animals are disappearing
Stonewall Jackson’s great, great grandsons say his statue, and others, must come down
Trump adviser Steve Bannon says U.S. is at “economic war with China”
Swiss hotel asks Jewish guests to shower before using the pool
The recipient of 20 rotten snake heads is in for a big disappointment
Grooming hair down there is downright dangerous
And now, a public-service announcement from Merriam-Webster:
Links, people! We need links. It keeps the lights on.
— Merriam-Webster (@MerriamWebster) August 17, 2017
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