To The Moon

On Mon, 16 Dec 2024, US market still exhibited a nervous stance, despite CME Fedwatch tool still registers an elevated 97% probability of a -0.25% interest cut, while bitcoin surged to a record high of $107,800 intraday. When US market called it a day: DJIA: -0.25% (-110.58 to 43,717.48). Closed lower for 8th straight day. S&P 500: +0.38% (+22.99 to 6,074.08). Coming off its first losing week in the past month. Nasdaq: +1.24% (247.17 to 20,173.89). Tech index crossed its first 20,000 points record high. Magnificent Seven performances on 16 Dec 2024 Although Nasdaq had a new ‘peak’, only two sectors and two particular stocks “helped” push Nasdaq its finishing close; not all Magnificent Seven stocks. (see above) It was sector “Communications services” and $Alphabet(GOOG)$ which accounts for 38% of this sector. It rose by +3.54% and remains undervalued, according to Morningstar. And sector “Consumer cyclical”, with $Tesla Motors(TSLA)$ that rose by +6.14%. As US market heads into Tuesday trading and FOMC kickstarting its 2 days’ meeting, Wall Street is ‘pre-trading’ the central bank’s decision says BTIG LLC - a global financial services firm. According to BTIG, this is similar to what it observed heading into September 2024 FOMC meeting, where US market is pre-emptively preparing for another rate cut on Wednesday. BTIG LLC, Chief market technician, Jonathan Krinsky further mentioned: The only difference this time around is the chatter for this month’s meeting is a ‘hawkish cut”. And this time, the “pre-trading’ is with (a) a stronger US dollar, (b) weaker bonds, and (c) weak small-cap/value over the last few weeks.” US Market’s Tuesday Pre-market indicators: Dow futures: -0.37% (-163.00 to 44,098.00). S&P futures: -0.32% (-19.75 to 6,134.25). Nasdaq futures: -0.21% (-43.25 to 22,364.75). I think US stock market will remain anxious today, dissipating only tomorrow after the 2pm press conference with Fed chair, Mr Jerome Powell. Even then, analysts will be looking out for the central bank’s narrative on interest cuts heading into 2025. What I will be watching out for on Tuesday, is a follow up to my post, dated 11 Dec 2024 (click here ! to read, Repost & like, ok) I am curious how quantum stock $Rigetti Computing(RGTI)$ will continue to perform. On Mon, 16 Dec 2024 - RGTI, continued its extraordinary climb, rising a superb +21%. (see above) With close to a +450% gain in the past month, the quantum computing business outperformed its rivals, in an industry that's firmly in favour with Wall-Street, at the moment. RGTI’s peers similarly had a good run as well: $D-Wave Systems Inc.(QBTS)$ posted upwards +15% gain and a startling +300% increase over the past month. $Quantum Computing Inc.(QUBT)$ rose approx. +25%, extending its one-month gain to +250%. IonQ (IONQ)$ added +6.0% on Monday and added to a more meager +55% increase since mid-November. Although commercial uses of quantum technologies are still under development, there is growing excitement about its potential. According to Morgan Stanley analysts, Joseph Moore : There is explosiveness in the quantum computing sphere. With US government support for the field. Looking at a recent US legislative proposal seeking $2.7 billion in public financing for quantum technologies. Quantum developments, according to US Senator Maria Cantwell is "transformative" indicating the technology's ability to completely overhaul sectors of industry. Driven by scientific breakthroughs, rising public & private investments, momentum in quantum computing stocks demonstrates sustained investor confidence in the sector's long-term potential. Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks. NVDA vs AMZN : AI Battle Heats Up & Fast ! AVGO X'mas Rally - Going Strong or Tapering ? BBAI the next PLTR ? Buy ? Read & Know ! Do you think RGTI will skyrockets to its former peak of $11 per share ? Do you think other Quantum stocks will continue to perform equally well also ? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents .