30-Second US Stock Market Review of Jan 7th

$NVIDIA(NVDA)$ down 6% as highly skewed call options unwound after the anticipated recent keynote speech from the company’s CEO.

$Aurora Innovation(AUR)$ up 29% after the company announced a partnership with $NVDA, with Nvidia’s DRIVE Thor and DriveOS to be integrated into the Aurora Driver.

$Rigetti Computing(RGTI)$ $IONQ Inc.(IONQ)$ down 5% and 3% respectively after $NVDA’s CEO made comments on quantum computing, stating it will take many years to come to fruition.

$Palantir Technologies Inc.(PLTR)$ down 7% as a sell-off sustained following Morgan Stanley’s downgrade of the stock. $SOUN down 9% following the announcement of the company’s first in-vehicle voice assistant with on-the-go- food ordering.

$Carvana Co.(CVNA)$ up 5% after RBC Capital upgraded the stock to “Outperform” and raised its price target to $280.

$FRONTLINE PLC(FRO)$ up 11% after President Elect Trump commented on the Panama Canal and proposed that it should fall under US control again.

$MARA Holdings(MARA)$ up 11% as bird fllu concerns rose after the US reported the first death from the virus.

$MicroStrategy(MSTR)$ down 10% as Bitcoin fell to $96K.

$Serve Robotics Inc.(SERV)$ down 18% after the company announced an $80M registered direct offering of common stock.

Market News

ISM non-manufacturing prices for December were 64.4 vs 57.5 expectations which led to market volatility Tuesday.

The 10-year treasury note yield reached a high of 4.7% on Tuesday.

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Earnings: $Acuity(AYI)$ , $Simply Good Foods Company(SMPL)$ , $MSC Industrial Direct(MSM)$ , $Helen Of Troy(HELE)$ , $AngioDynamics(ANGO)$ , $Albertsons Companies, Inc.(ACI)$ , $UniFirst(UNF)$ , $Radius Recycling(RDUS)$ , $Jefferies Financial Group Inc.(JEF)$ , $Saratoga Investment(SAR)$ , $Penguin Solutions, Inc.(PENG)$ $Greenbrier(GBX)$ $Franklin Covey(FC)$

Treasury Yields Weigh on Market: Will it Break 5%?

Rising U.S. Treasury Yields Hit Risk Assets? The 30-year U.S. Treasury yield rose by 3.8 basis points to 4.855%, briefly reaching a high of 4.861%, the highest since November 2023. ISM data hit a two-year high, leading to a decrease in the probability of rate cuts. Goldman Sachs believes there may be no rate cuts this year. Friday's non-farm payroll data will be crucial for the broader market. ------------ Is the market overreacting to the ISM data? Is now a good time to buy U.S. Treasuries? Will U.S. Treasuries fill the gap at $85?

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30-Second US Stock Market Review of Jan 7th

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