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đ„ Hungry For Gains
This restaurant stock is eating good. Plus, stocks retreat as yields rise.
Happy Wednesday, Zingernation! You shouldnât give a mouse a cookie. You shouldnât give my Uncle John a beer. And you definitely shouldnât give a teenager $85 million to build weapons.
âAaron Bry & Nic Chahine
Todayâs Price Action:
$SPY: -.70%
$QQQ: -.70%
$DIA: -1.03%
Today, weâre covering why stocks took a breather today, one restaurant chain thatâs eating good and more.
Plus, a shortage of this commodity could yield 2024âs top clean energy investmentâŠ
TODAYâS MOST VOLATILE STOCKS
TODAYâS TOP STORY
Briefly: Much like yours truly after walking up a single flight of stairs, stocks took a breather today. Higher treasury yields and a strong dollar drove the overall market lower. (NVIDIA excluded, naturally.)
So Basically: Volatility surged back into the market today. The CBOE Volatility Index (VIX) spiked 9% after hitting nearly three-year lows last week, fueled by fresh upticks in Treasury bond yields.
So Then: The yield on the 30-year Treasury note, a crucial benchmark for mortgage rates nationwide, soared to 4.74%, rising more than 15 basis points over two sessions and nearing its highest close since May 2.
So What: All major U.S. equity indices and all eleven sectors traded in the red, on a day when the U.S. dollar effectively played its safe haven role. The Invesco DB USD Index Bullish Fund ETF saw its strongest day in a month.
What Next: Investors fear that the Fed wonât cut interest rates until November, and likely wonât do so more than once this year, as suggested by current Fed futures pricing.
Click here to read more.
PRESENTED BY INVESTING TRENDS
When picking top natural resource investments, it's all about the demand. The more demand you have for a commodity, the more prices soar.
As of February 2024, in the US alone, there are 62 new Nuclear Reactors under construction. Sending demand for Uranium through the roof.
FIVE MOVERS
Carnival Cruise Line shares traded lower today after American Airlines lowered its guidance, stoking concerns for the travel space.
AMC Entertainment shares moved lower today as the meme trade appears to be losing its steam.
Salesforce shares plunged after the bell, following the companyâs worse-than-expected earnings report.
Nikola shares moved lower today, hitting new all-time lows as investors remain wary regarding the EV-makerâs future.
UnitedHealth shares closed lower in todayâs session following some cautious comments by the companyâs CEO.
ONE TRADE IDEA FOR TOMORROW
Briefly: CAVA IPOâd less than a year ago and itâs already made impressing investors the norm, beating expectations on four straight earnings reports.
So Basically: In Q1 2024, the companyâs first-quarter revenue increased 30.3% year-over-year to $256.3 million, beating estimates of $245.9 million.
So Then: The Mediterranean fast-casual chainâs quarterly earnings also came in above expectations, at $0.12 per share versus estimates of $0.05.
So What: Wedbush maintained CAVA with an Outperform rating and raised the price target from $74 to $90, writing, âWe view CAVA as one of a handful of publicly traded restaurants positioned to deliver positive annual transaction growth over the longer term.â
Click here to read more.
PARTNER CONTENT
Starpax Biopharma Inc. has officially launched a Regulation A capital raise (one-click subscribe) to finance its clinical trials on humans.
Why it Matters: Starpaxâs technology is set to revolutionize cancer care and improve the lives of patients worldwide. Be part of a mission to create a world where cancer treatment is more effective, safe and accessible.
Click here to Invest today
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