US Market Contd To Fall ? What Stock Will Rise?
On the last stretch of June 2023 before July comes onboard, will the US market continues to “correct” itself this week?
Afterall, after the past 5 trading days:
DJIA : -2.10% (-722.82 to 33,727.43).
S&P 500: -2.09% (-92.62 to 4,348.33).
Nasdaq: -3.64% (-266.55 to 13,492.52) - worst performing index of the 3.
The Million Dollar Question on everyone’s mind: How will the US market fare this week?
Q2 2023 quarterly earnings season begins
Looking at above diagram, it signals the start of Q2 2023 earnings reporting season again.
One thing to note is that during Q1 2023 reporting, most companies have forecasted a rather “challenging” outlook for their Q2 earnings.
It is reckoning time I supposed.
As shared on my Sat, 24 Jun 2023 post - US Banks' Headwinds Are Opportunities? - US banks will be facing their challenges in the immediate term eg. $JPMorgan Chase(JPM)$ , $Morgan Stanley(MS)$ .
How fast can they come out from the other end of the tunnel is still up in the air. Make a guess!
It is up to the individual investors to see the current “downturn” as opportunity or adversity?
Semiconductor's stock - heat map?
The semiconductor industry had a good run in the past few weeks eg. $NVIDIA Corp(NVDA)$, $Advanced Micro Devices(AMD)$ .
As long as the words “artificial intelligence” (AI) were muttered - semicon stock price soared.
Did Wall Street win in this game of “hype” or did retail investors come up tops this time?
As the semiconductor stocks began its consolidation phase, are there opportunities to be had?
Or have the recent hype drove stock prices so “high” that time is needed for it to come back down to a more “realistic” level before considering entry?
While we take our time to ponder over when semiconductor stocks’ prices would be a good entry, pre-market indicators (for Mon, 26 Jun) are pointing to continuous pullback on the last week of June trading.
The only “bright spark” is oil prices after the possible march towards Moscow by runaway rebel force The Wagner Group was successfully brokered and averted by Belarus President.
I (really) thought that if rebellion escalated, oil production might halt in Russia, sending oil prices soaring thru the roof?
Do you think oil prices will spike if the rebellion continues in Russia?
Do you think Q2 2023 quarterly earnings will have a positive overall effect on the US market?
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Nasdaq might be the worst performer, but hey, it's just practicing its breakdancing moves
fednow is fascinating to me and I'm disappointed i just learned about it. I wonder how jpm earnings will look in the future since alot of money is made off of processing fees. good interview on cnbc.
I think we will see a nice breakout in the near future, maybe a couple catalyst coming hopefully raise dividends and repurchase shares to follow by good earnings report
Rating is very important (to me). Tks!
@adrian79
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buying distressed banks at Pennie’s on the dollar. Sell all other bank stocks and buy JPM
DJIA, S&P 500, Nasdaq - they're all doing the limbo dance, trying to touch new lows
The market is on a "correction" spree, but hey, think of it as a thrilling bungee jump!
Well, looks like the market is taking a nosedive. Hang in there, rollercoaster ride!
Brace yourself, it's a bumpy ride! Hold on tight and keep those stocks in check
Great ariticle, would you like to share it?
Good comments