Market Today: Crypto Surge and Pharma Stocks Under Pressure

GuruFocus11-16

Market Overview The stock market experienced some consolidation activity following last week's surge. The S&P 500 reached a record high on Monday, closing above 6,000 for the first time, but ended the...

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The S&P 500 reached a record high on Monday, closing above 6,000 for the first time, but ended the...</p>\n\n<a href=\"https://www.gurufocus.com/news/2606660/market-today-crypto-surge-and-pharma-stocks-under-pressure\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Today: Crypto Surge and Pharma Stocks Under Pressure</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Today: Crypto Surge and Pharma Stocks Under Pressure\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-16 06:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2606660/market-today-crypto-surge-and-pharma-stocks-under-pressure><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Market Overview The stock market experienced some consolidation activity following last week's surge. The S&P 500 reached a record high on Monday, closing above 6,000 for the first time, but ended the...</p>\n\n<a href=\"https://www.gurufocus.com/news/2606660/market-today-crypto-surge-and-pharma-stocks-under-pressure\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SPXU","symbol_name":"三倍做空标普500ETF","start_time":0,"source_url":"https://www.gurufocus.com/news/2606660/market-today-crypto-surge-and-pharma-stocks-under-pressure","article_id":"2483285532","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483285532","pubTimestamp":1731709943,"columns":[],"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"Market Overview The stock market experienced some consolidation activity following last week's surge. The S&P 500 reached a record high on Monday, closing above 6,000 for the first time, but ended the","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SPXU":"三倍做空标普500ETF","BK4516":"特朗普概念","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","SG9999001424.SGD":"United E-Commerce Fund SGD","BVNRY":"Bavarian Nordic A/S","LU0823414478.USD":"法巴经典能源转换基金","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","BK4585":"ETF&股票定投概念","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","WYNN":"永利度假村","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","MAXN":"Maxeon Solar Technologies Ltd","AEP":"美国电力","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BNTX":"BioNTech SE","AKAM":"阿克迈","BK4559":"巴菲特持仓","VST":"Vistra Energy Corp.","BK4588":"碎股","NRG":"NRG能源","SH":"标普500反向ETF",".SPX":"S&P 500 Index","OEX":"标普100","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","BE":"Bloom Energy Corp","SEDG":"SolarEdge Technologies, Inc.","VOO":"Vanguard标普500ETF","IVV":"标普500指数ETF","UPRO":"三倍做多标普500ETF","SDS":"两倍做空标普500ETF","IE00B29SXK94.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","SSO":"两倍做多标普500ETF","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","HPE":"慧与科技"},"translate_title":"今日市场：加密货币飙升，制药股承压","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AEP":1,"WYNN":1,"VST":1,"SEDG":1,"NRG":1,"MAXN":1,"HPE":1,"BVNRY":1,"BNTX":1,"AKAM":1,"BE":1,"VOO":0.9,"SPY":0.9,"OEF":0.6,"OEX":0.6,"SDS":0.6,"SH":0.6,"SPXU":0.6,"SSO":0.6,"UPRO":0.6,".SPX":0.6,"ESmain":0.6,"IVV":0.6},"content_text":"Market Overview The stock market experienced some consolidation activity following last week's surge. The S&P 500 reached a record high on Monday, closing above 6,000 for the first time, but ended the week 2.1% lower. Despite this, the index remains 1.5% higher since the election results. The selling pressure was broad-based, affecting chipmakers and mega caps. The equal-weighted S&P 500 closed 1.7% lower than the previous Friday.  Only two sectors of the S&P 500 closed higher this week, while eight sectors logged losses ranging from 1.1% to 5.5%. The energy sector (+0.6%) and financial sector (+1.4%) were the only sectors in positive territory. The health care sector (-5.5%) suffered the largest loss, followed by the information technology sector (-3.2%). Health care stocks faced challenges, especially after President-elect Trump nominated Robert F. Kennedy, Jr., a vaccine skeptic, to lead the Department of Health and Human Services. Chipmakers also struggled, particularly after Applied Materials (AMAT) released fiscal Q1 guidance that did not meet market expectations.Interest Rates and Economic Data This week's negative market bias was less extreme compared to the previous week's surge. Concerns over interest rates and speculation that the Federal Reserve may be more cautious with rate cuts contributed to the market's performance. The 10-year yield settled at 4.43%, 12 basis points higher than the previous Friday, while the 2-year yield settled five basis points higher at 4.30%. Remarks by Fed Chair Powell emphasized that the economy is not signaling an urgent need to lower rates. Data supported Powell's comments, with total CPI up 2.6% year-over-year and core CPI unchanged at 3.3%. Total PPI increased to 2.4% year-over-year, with the index for final demand, excluding food and energy, rising to 3.1% year-over-year. Weekly jobless claims remained low, indicating a strong labor market that may lead to increased consumer spending and inflationary pressure. Retail sales were strong in October, bolstered by upward revisions in September data.Weekly Market Performance Monday The S&P 500 closed above 6,000 for the first time, increasing by 0.1% from Friday's record close. The Nasdaq Composite rose by 0.1%, the Dow Jones Industrial Average gained 0.7%, and the Russell 2000 outperformed with a 1.4% increase. Small-cap stocks benefited from optimism about the economy and equity market under the new administration and Congress. There was no U.S. economic data released on Monday. Tuesday The stock market paused after a solid run since the election results. Losses were muted compared to gains since last Tuesday's close. The consumer discretionary sector (-1.1%) was among the worst performers, impacted by losses in Tesla (TSLA, Financial) and Home Depot (HD, Financial). Gains in some mega-cap stocks provided support to the broader market. The NFIB Small Business Optimism survey rose to 93.7 in October from 91.5 in September. Wednesday The market showed mixed results, with the S&P 500 settling little changed from Tuesday. Participants digested the October Consumer Price Index release, which showed total CPI up 2.6% year-over-year. The Treasury Budget for October showed a deficit of $257.4 billion, with net interest outlay running close to $1 trillion on an annualized basis. Thursday Major indices closed with losses due to profit-taking after a strong post-election run. The October Producer Price Index indicated rising inflation at the wholesale level, while weekly jobless claims remained low. Fed Chair Powell reiterated that the economy is not signaling an urgent need for rate cuts. Friday The stock market closed with significant losses. Concerns over interest rates and the Fed's cautious stance on rate cuts contributed to the decline. Large-cap technology stocks, especially semiconductor-related names, experienced outsized declines. The New York Fed Empire State Manufacturing Survey for November showed a strong reading of 31.2, indicating expansion. Retail sales increased by 0.4% month-over-month in October.Guru Stock PicksValueAct Capital has made the following transactions:Reduce in EXPE by 23.63%Sold out in KKRAdd in DIS by 21.7%New position in LLYVASteven Cohen has made the following transactions:Reduce in CRNX by 17.27%Add in TERN by 7.57%John Paulson has made the following transactions:Add in MDGL by 10.38%Louis Moore Bacon has made the following transactions:Reduce in SBXC by 20%Andreas Halvorsen has made the following transactions:Reduce in ROIV by 21.77%Lee Ainslie has made the following transactions:Reduce in GUTS by 0.15%Glenn Greenberg has made the following transactions:Reduce in PRI by 22.74%Warren Buffett has made the following transactions:Reduce in BAC by 1.12%Add in SIRI by 2.02%Frank Sands has made the following transactions:Reduce in STVN by 4.39%Add in IRTC by 48.06%Today's NewsBitcoin (BTC-USD) has reached a historic peak, climbing to an all-time high above $93K, with its market cap soaring to $1.8 trillion. The cryptocurrency sector collectively achieved a market cap of $2.9 trillion, surpassing its previous 2021 peak. Bitcoin now commands 62% of the total crypto market, a significant increase from its 42% share in November 2021. Ethereum (ETH-USD), however, has not yet returned to its 2021 levels, holding about 14% of the market. This surge comes as investors anticipate a crypto-friendly approach from the incoming Trump administration.Pharmaceutical and biotech stocks faced a downturn following the announcement of Robert F. Kennedy Jr. as the nominee for Secretary of Health and Human Services. Kennedy Jr.'s skepticism towards vaccines and his plans to reform the FDA have created apprehension among investors. Notably, Pfizer (PFE, Financial) shares fell 4%, while AstraZeneca (AZN, Financial) and GSK (GSK, Financial) experienced declines of 3% and 2%, respectively. Smaller vaccine producers like Bavarian Nordic (BVNRY) and BioNTech (BNTX) also saw significant drops.In the tech sector, short interest in Super Micro Computer (SMCI, Financial) remains high, with the company leading as the most shorted stock in its sector at 16.99%. Enphase Energy (ENPH, Financial) and Akamai Technologies (AKAM) follow, with short interests of 12.17% and 6.13%, respectively. Despite these pressures, the S&P 500's information technology sector has climbed nearly 22% year-to-date.Juniper Networks (JNPR, Financial) saw a 5% decline amid reports of the Department of Justice reviewing its proposed $14 billion sale to Hewlett Packard Enterprise (HPE). Speculation about the DOJ's decision has intensified, with some traders noting the presence of an HPE corporate jet in Washington, D.C., potentially indicating discussions about the deal.David Tepper (Trades, Portfolio)'s Appaloosa hedge fund made significant changes in the third quarter, selling off stakes in Boeing (BA, Financial) and UPS (UPS, Financial) while acquiring shares in casino operators like Las Vegas Sands (LVS, Financial) and Wynn Resorts (WYNN). The fund also increased its holdings in energy companies Vistra (VST) and NRG Energy (NRG).SolarEdge Technologies (SEDG) and Maxeon Solar Technologies (MAXN) experienced significant declines of 16.1% and 12.7%, respectively, after Morgan Stanley downgraded both stocks. The downgrade cited uncertainties surrounding the Inflation Reduction Act and other regulatory factors as key pressures on the clean energy sector.Bloom Energy (BE) surged 46.6% following a landmark agreement with American Electric Power (AEP) for up to 1 GW of solid oxide fuel cells. This deal, the largest of its kind, marks a significant step in addressing energy demands for data centers and other large users.GuruFocus Stock AnalysisNetflix Gains Spotlight with Tyson-Paul Fight, Expands Ad Strategy by Faizan FarooqueRon Baron's Baron Partners Fund 3rd Quarter Letter: A Recap by James LiAlibaba Reports 5% Revenue Growth, Driven by AI and Cloud Expansion by Faizan FarooqueApple Removes Russian-Language RFE/RL App Following Pressure from Russian Authorities by Nauman khanGoldman Sachs Projects More U.S. Tariffs on Chinese Goods by Early 2025 by Faizan Farooque","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483285532"}