Happy Monday Zingernation! In the understatement of the century, Warren Buffett has made some pretty good investments throughout his career. But this one might be his best (and no, it’s not a stock).

—Aaron Bry & Nic Chahine

Plus, wonder why more than 30 billionaires are moving their stocks right now? Here’s what’s going on.

MARKET SNAPSHOT

Last Week: The S&P 500 and Nasdaq made new weekly highs as the semiconductor industry remained hot following strong earnings from Broadcom and more bullish activity in Nvidia.

On Our Radar: A light week for both earnings and economic data, but Bitcoin and the crypto industry will be on investors’ radars as weakness starts to form on the charts.

TOP STORY

Wall Street Set For Cautious Start After Record Run Last Week

Briefly: U.S. stocks are gearing up for a cautious start following last week’s record run, with the index futures currently showing mixed sentiment.

So: Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market. Market strategists are upbeat about the trajectory for the rest of the year and recommend judicious buying on dips.

Basically: In Monday’s session, traders may seek cues from a Fed speech and the results of a regional manufacturing survey. Some of them may prefer to move to the sidelines ahead of Tuesday’s retail sales report. Here’s which sectors will be in the spotlight ahead of the numbers and Fed speak.

PRESENTED BY INVESTOR PLACE

The Biggest Financial Event of 2024? (Why 31 Billionaires Are Moving Their Stocks, Right Now)

Should you buy, sell, or hold your stock? To find the answer, let’s look at the actions of the world’s wealthiest investors…Right now, the world’s wealthiest investors are preparing for what could become ‘the biggest financial event’ of 2024. 

31 billionaires (including: Warren Buffett, Jeff Bezos, and Elon Musk, and more) are MOVING their stocks as we speak…

To discover where they’re moving their money… Why…And how you can profit alongside them…Click here to find out.

FIVE ZINGERS

Let’s Get Active: Autodesk’s stock popped more than 4% this morning following reports of a new activist investment stake from Starboard.

Not The Kind You Want: Workhorse shares appear like they’re soaring higher this morning, but the company enacted a 1-20 reverse stock split.

The Next Enron?: Despite high retail investor interest, one analyst believes Tesla could be the next Enron. Here’s why.

Follow Through: Broadcom’s stock continued its bullish activity after strong earnings last week, trading higher by more than 3% Monday morning.

Stack It Up: The average American couple has saved this much money for retirement — How do you compare?

ONE FOR THE ROAD

Warren Buffett's Berkshire Hathaway Further Reduces Position In This Tesla Rival

Briefly: Berkshire Hathaway, the investment holding firm, run by revered investor Warren Buffett on Monday disclosed trimming stake in China-based electric-vehicle maker BYD Co Ltd. BYDDY/BYDDF.

What Happened: Berkshire sold 1.3 million Hong Kong-listed shares of BYD, with the sale fetching the firm proceeds of HK$ 310.5 million ($39.8 million), a Hong Kong stock exchange filing showed. The disposal was done on June 11.

So: Berkshire has been offloading shares of BYD in small quantities over the years, and the most recent divestment has left it with a stake of 6.90%, down from 7.98% in late October 2023, when it sold 820,500 shares. Here’s where Warren might be putting the money next.

The Biggest Financial Event of 2024? (Why 31 Billionaires Are Moving Their Stocks, Right Now)

Should you buy, sell, or hold your stock? To find the answer, let’s look at the actions of the world’s wealthiest investors…Right now, the world’s wealthiest investors are preparing for what could become ‘the biggest financial event’ of 2024. 

31 billionaires (including: Warren Buffett, Jeff Bezos, and Elon Musk, and more) are MOVING their stocks as we speak…

To discover where they’re moving their money… Why…And how you can profit alongside them…Click here to find out.

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