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Happy Tuesday Zingernation! Does anyone have some Tic Tacs or a pack of Mentos? Not for me, but some investors are getting worried about the market’s ‘bad breadth’ problem again.

—Aaron Bry & Nic Chahine

Plus, check out the company that’s revolutionizing the way we treat pancreatic cancer.

MARKET SNAPSHOT

Yesterday: Chips remained weak yesterday with $NVDA and $SMCI each falling more than 5%, but value stocks were strong with energy companies like $CVX and $XOM closing higher.

On Our Radar: Some earnings on the way today with FedEx, Carnival Cruise Line and more set to report. We will also get some consumer confidence numbers at 10am ET and hear from Fed Gov. Lisa Cook at 12pm ET.

TOP STORY

Tesla Recalls More Than 11,000 Cybertrucks

Briefly: EV giant Tesla is recalling over 11,000 Cybertrucks over concerns that its sail applique may come loose or detach from the vehicle while it is moving and nearly 12,000 Cybertrucks over concerns that their windshield wiper might stop working.

What Happened: The cosmetic applique along the exterior of the trunk bed trim is known as the sail applique and it is affixed onto the Cybertruck with adhesive.

So: This sail applique may separate from the vehicle while it is driving, thereby posing a risk of injury and collision for other motorists on the road, U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA) said. But Tesla’s stock doesn’t seem to care.

PRESENTED BY AUTONOMIX

Discover How This Company's Breakthrough Technology Might Be The Key To Transforming Pancreatic Cancer Pain Relief

Autonomix Medical (NASDAQ: AMIX) is revolutionizing pain management with its cutting-edge technology, capable of detecting neural signals with unprecedented sensitivity. 

Autonomix has launched its first-in-human pilot study, utilizing radiofrequency ablation to target overactive nerves. This breakthrough is paving the way for precise treatment of pancreatic cancer pain, a condition that severely impacts patients' quality of life. 

Preliminary results will be shared on a live webcast on June 18, 2024 and could signal a groundbreaking shift in pancreatic cancer pain and newfound momentum for Autonomix.

FIVE ZINGERS

In The Deep End: Pool Corp lowered its EPS forecast ahead of its earnings, sending the swimming pool company down.

Bit By Bit: Bitcoin appears to be slowly climbing back as traders come in and buy the dip after the king of crypto briefly fell below $60k.

Ringing The Register: Toyota Motors shares are trading higher on news that the company completed the sale of some cross-share holdings.

Flight To Safety: Here are some risk-off stocks that pay strong dividends that some of Wall Street’s most accurate analysts are loving.

The Earnings Playbook: Want to make an extra few bucks trading through earnings season? Register here for expert options ideas.

ONE FOR THE ROAD

US Needs 1.5 Million More Homes To Tame Record Prices

Briefly: What is the key to bringing home sale volume up and home prices down? America’s current problem is insufficient supply, according to a new report outlining trends in the U.S. housing market.

The Data: Freddie Mac’s May macroeconomic report examined key trends in the housing and mortgage market. While 2024’s higher-for-longer interest rate environment remains the most obvious obstacle to lowering home prices, the report emphasized supply as a means to restore the market to balance.

So: According to the report, vacancy rates—a very low 0.8% for housing and 6.6% for renters—must be restored in line with historical averages to make a dent in housing prices. In the first quarter of 2024, the total number of for-sale and for-rent units was 1.5 million below the balanced supply. Here’s what the housing numbers mean for homeowners and investors.

PRESENTED BY AUTONOMIX

Discover How This Company's Breakthrough Technology Might Be The Key To Transforming Pancreatic Cancer Pain Relief

Autonomix Medical (NASDAQ: AMIX) is revolutionizing pain management with its cutting-edge technology, capable of detecting neural signals with unprecedented sensitivity. 

Autonomix has launched its first-in-human pilot study, utilizing radiofrequency ablation to target overactive nerves. This breakthrough is paving the way for precise treatment of pancreatic cancer pain, a condition that severely impacts patients' quality of life. 

Preliminary results will be shared on a live webcast on June 18, 2024 and could signal a groundbreaking shift in pancreatic cancer pain and newfound momentum for Autonomix.

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