Tale of the Tape
Good evening peeps.
The market gave it up today like Jameis “Pick Six” Winston.
The S&P 500 traded up more than 1% in the early afternoon but sold off with some vim to close down .2%.
Not a big loss, by any means, but stocks have been relentless as of late and so any late day sloppiness is notable.
Small caps gave yesterday’s outperformance back like Aunt Pat returning a blouse to Macy’s 3 years after purchase.
Energy and Fianncials were the worst sectors and we’re mocking them right here 🤦🏼♂️ in the frontal cortex.
Kohl’s was terrible dropping 10% and giving back most of its gains from yesterday after it reported a weak quarter due to COVID.
Dollar Tree ramped on a strong quarter, that confirmed people are looking to buy cheap stuff as employment numbers fall off a cliff.
| S&P 500 | 3,029 | -0.21% |
| Nasdaq | 9,368 | -0.46% |
| Russell 2000 | 1,400 | -2.48% |
| Dow Jones | 25,400 | -0.58% |
Is This Real Life?
Today, President Trump issued an executive order aimed at curbing social media censorship.
This came after $TWTR began fact-checking tweets and encouraging readers to double check for truthfulness.
$TWTR stock is off 6% from Tuesday’s close while the broad market is higher, so it seems like some might be selling this much ado but who knows.
Daphne Keller, an internet law expert at Stanford University said the following,
The draft is 95% political theater – rhetoric without legal foundation, and without legal impact.
Both sides are being a little silly here given that 1) the president has more important stuff to attend to than playing political paddy cake with Twitter and 2) almost every social media post ever contains half truths, hyperboles, or a combination of the two.
Regardless, here’s a meme we found somewhere on these world wide webs. It’s just a joke, y’all. 😂
You can read much more about it here but you’ll never get those 3 minutes back.
Attention People of Tesla
Tesla’s Cybertruck starred in a recent episode of Jay Leno’s Garage. The combination of Elon, Jay, and the Cybertruck did not disappoint. Catch the full segment here.
Central Banks are United
Charlie Bilello shared this table of the 81 Global Central Banks that cut rates in 2020.
The whole world is making money cheaper. If you’re gonna fight the Fed, well, you gotta fight it world wide.
Cycling Sales ⤴
Bloomberg posted an article highlighting strong sales for the 99-year old Japanese bike component manufacturer, Shimano. The founder’s grandson was quoted in the piece saying,
People are realizing how effective a bicycle can be. People are moving away from crowds and looking for space, even in transit.
People are out riding their bikes more, just take a look around. It’s good stuff – adaptive coping as the shrinks might say.
Check out the full article here. It’s a good read.
And here’s the Shimano monthly chart. If it holds tomorrow, it’ll be its highest monthly close ever. Incredible.
Here’s Queen’s Bicycle Race, cause why not.
Earnings After the Close
Costco reported earnings after the close. Sales grew but the stock fell. $COST was down 1.6% after-hours.
For more information, click here.
Zscaler, a work from home cloud based tech company… yada yada yada also reported earnings. The numbers came in at $0.07 per share beating estimates by a nickel. It’s up 16% after hours and is trading in all time high territory.
$ZS has more than doubled since its low close on March 12th and this thing could be setting up for an opening range breakout.
Today on Stocktwits…
TSA Total Traveler Throughput via TKPTrader
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
The Business of Building Utopia
English Premier League Plans to Return on June 17
Europe Needs a Solar Boom Now or Regret Missing Out in a Decade
Infinite Loops Podcast – Ed Latimore: Lessons from Boxing, Sobriety, and Building Mental Fortitude
Why We’re Blind to Probability
Inside the Mind of An Iconic Writer
The Woman Who Reshaped Maths
