Tale of the Tape
Good evening and happy freakin’ Friday, y’all!!
The market of stocks stumbled as we wrapped up another week. Every major index marched lower.
The ‘safety’ sectors (utilities and real estate) led the way. 💪 $XLU flew 0.8% and $XLRE rallied 0.6%. Energy dropped 2.5%. Basic materials, tech, and communications all came in more than 1%.
Bitcoin bounced back 6% while ethereum chills under 2,800.
Energy titans Chevron and Exxon both flopped after this morning’s early earnings. See the round-up below. 🤠
1-800-FLOWERS flew another 7%, tacking onto yesterday’s 20% gain. 🌹
Twitter tumbled 15% after last night’s earnings report. The stock settled at its lowest price since February 3, 2021.
Tesla turned up 5% and Netflix closed up 1%. $NFLX closed at its highest price since the stock gapped down after last week’s earnings release.
Here are the closing prints:
| S&P 500 | 4,181 | -0.72% |
| Nasdaq | 13,962 | -0.85% |
| Russell 2000 | 2,266 | -1.26% |
| Dow Jones | 33,874 | -0.54% |
Weekly Candles 🕯
Y’all survived another week on Wall Street— grab yourself a drink as we rip through a few weekly charts 🥛:
The Russell 2000 ripped and dipped this week. The small-caps surged as much as 2.25% only to tumble and close down 0.24%. What a mess. 🤦
Utilities turned up on Thursday and Friday to make up for its early-week weakness. Here’s the $XLU weekly:
Financials flew to a new all-time high— nothing but blue sky. 💸 ☀️
We made it through earnings for the FAANG Gang, and it was good… but not great. The NY FANG+ Index stumbled 1.26% and maintained last week’s range. Does FAANG need to flag out?
Twitter got tossed after the company dropped disappointing earnings. 👎 $TWTR fell 15% today and was down >17% on the week. The stock settled at 55.22. Will it find its footing at former highs?? Time will tell…
Bitcoin bounced back 16% this week. The crypto first broke 60K in mid-March— is it time to take off??
Ethereum inched up 20%. ETH.X appears to be on its mission to 3K— maybe one day. 🤷
Energy Earnings🛢
$CVX — Chevron beat on both top and bottom lines thanks to high oil prices. 💰
Here are the numbers:
EPS: $0.90 vs $0.90 est
Revenue: $32.03B, +3.3% YoY growth
CEO Mike Wirth had this to say:
Earnings strengthened primarily due to higher oil prices as the economy recovers. Results were down from a year ago in part to ongoing downstream margin and volume effects wrestling from the pandemic and the impacts of winter storm Uri.
Here are the numbers:
EPS: $0.65 vs $0.59 est
Revenue: $59.15B, +5% YoY growth
Floating
We promise you’ve never seen a cooler pool than this. 🌊
Today, EcoWorld Ballymore unveiled the first-ever ‘Sky Pool’— an 82-foot-long heated pool connecting two flat rooms of a five-star hotel.
But is it safe? (That was our first question 😅) It sure is! Despite weighing 50 tons, the pool is held up by an 8-inch-thick acrylic frame with a 12-inch-thick and 10-foot-deep base. Wowza.
The only thing crazier than the pool itself is the journey it took to get to London. The pool was built in Colorado, moved to Texas, then shipped across the Atlantic!
Who’s floating?
The Kraken Get Cracking
Seattle is about to be swept up by the Kraken Krazies (yeah we made that up). Today, the Seattle Kraken became the 32nd NHL team after completing their final $650M payment to join the league.
Now that it’s official, the Kraken can make trades, sign players, and (you guessed it) play hockey. 🏒
NHL Commissioner Gary Bettmen welcomed the team:
On behalf of the board of governors, I am delighted to officially welcome the Seattle Kraken to the NHL as our 32nd member club. Congratulations to David Bonderman, the Bondermna family, their partners, the entire Seattle Kraken organization, the city of Seattle and Kraken fans as the club continues on its exciting journey towards puck drop in October.
Are you ready to dive in with the Kraken? 🌊
Apple’s New Look
America’s Apple has decided to revive its 1977 rainbow logo. 🌈 The new rendering is darker and richer than the original— perfect to usher in the roaring 20s.
What do you think? Does the new design deliver? 🤔
The all-new iMac, iPad Pro, Purple iPhone, and Apple TV 4K are available today. Here’s Apple with more.
One Billion Bucks
The legendary VC firm Andreessen Horowitz wants to raise $1,000,000,000 to start a cryptocurrency fund. 💰 💰
If the firm pulls through, the fund would become the 3rd-largest crypto-centric fund and the largest pool of capital ever dedicated exclusively to cryptocurrency.
While Coinbase has pulled in 10% since its IPO, Andreessen Horowitz sees a strong future for the crypto-space.
Check out this link for more.
Links That Don’t Suck
💰 $OBTC provides low cost easy access to bitcoin from your brokerage account or IRA. Check It HERE.*
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