Latest news with #MarkNewton
CNBC
5 days ago
- Business
- CNBC
So far the meme rally is tame and that's good for the market
Bursts of speculative rallies in meme stocks have been largely held in check, making some believe the trading frenzy won't derail the overall market that's back at a record. Shares of Opendoor jumped about 7% in premarket trading Thursday after two days of retreat. The real estate startup gained sudden fandom among retail traders, pushing the stock up more than 300% this month. Other meme names that had been active were relatively tame. Wearable camera firm GoPro , doughnut maker Krispy Kreme and Kohl's all traded slightly lower Thursday. American Eagle Outfitters seems to be catching the meme wave , with shares skyrocketing 13% after the company unveiled a campaign with Sydney Sweeney. "The combination of the Momentum Unwind and Meme Mania 2.0 are reducing (eliminating?) people's ability to hold alpha shorts. Combine that with positive comments on M & A pipeline and the impending buyback bid and the storm clouds appear to be lifting ahead of the previously feared Aug 1 deadline," JPMorgan's trading desk said in a note to clients. "Now, if that US / EU hits the tape, we get a deal from China next week, and the macro data holds up and look for this market to take a significant step higher," it added. The heightened speculative activity on Wall Street coincided with a relief rally in the broader market amid better-than-feared tariff headlines. The S & P 500 closed at another record high Wednesday, bringing its 2025 gains to more than 8%. "At some point this steady stream of optimism likely will cause sentiment to jump to speculative levels which would warn of a selloff as nearly 80% of US companies have beaten 2Q earnings thus far and Meme stocks have been making a comeback," Mark Newton, head of technical strategy at Fundstrat, said in a note.
AU Financial Review
22-07-2025
- Business
- AU Financial Review
ASX to rise, S&P 500 edges higher as rally stalls
Australian shares are set to open higher. Shares were mixed in New York as rallies that have fuelled record highs in the S&P 500 and Nasdaq Composite stalled ahead of results from Alphabet and Tesla. The two megacap techs are the first of the magnificent seven set to report June quarter results. They each are set to release statements after Wednesday's closing bell in New York, early Thursday AEST. 'Technology's strength has helped to drive recent performance and has solidified this sector as being the best performing out of all major S&P sectors on a 1-week, 1-month, 3-month, and 6-month basis,' Fundstrat Global technical analyst Mark Newton said. Newton said near-term and intermediate-term technical trends remain bullish for US equities. 'Momentum and breadth remain constructive on an intermediate-term basis despite some short-term waning. Additionally, seasonality and cycles don't begin to turn too negative until August.' Market highlights ASX futures are pointing up 33 points or 0.4 per cent to 8674. All US prices as near 2.30pm New York time. Today's agenda Results are expected on Wednesday from Iluka Resources, Woodside Energy and Paladin Energy. Top stories Macquarie risks first-ever strike amid disquiet over bumper pay days | Two influential advisory firms are urging their clients to reject salaries and bonuses, citing a failure to hold executives accountable for compliance issues. 'Seduced by his personality': The fall of a finance fraudster | Linden Toll was a former Sydney Grammar boy and one-time Macquarie futures trader who promised investors interest rates on loans of 10 to 12 per cent. But it was all a facade, writes Tony Boyd. Chanticleer: Hostplus' $10b property bomb is a warning for all Australian investors | Lendlease and Mirvac's battle for three funds is about more than $10.5 billion in assets. It's about who gets to invest the whopper retirement savings pool. | Irish teenager Liam Fuller came to Sydney for a holiday with his dad and left with cheques from several investors, including a big one from Square Peg Capital.
Yahoo
25-06-2025
- Automotive
- Yahoo
What's next for Tesla as its European demand evaporates
Tesla (TSLA) stock slides after data showed that the company's European sales dropped nearly 28% in May, even as overall electric vehicle (EV) demand in the region rose. Yahoo Finance Senior Reporter Pras Subramanian joins Asking for a Trend host Josh Lipton and Fundstrat Global Advisors managing director and global head of technical strategy Mark Newton to discuss what's behind Tesla's slump and how the stock might move going forward. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Tesla shares went downhill today as more negative data emerges in its core auto business. Yahoo finances price of Meranian joins us now with more prize. Tesla European sales down for the ACA uh trade group in May to about 13,800 units. That's down 27.9% compared to a year ago. Meanwhile, overall sales in the region were up 25% in Europe. And this despite the new Model Y being available. So, what's going on here, Josh? It's kind of more of the same that we've been talking about. There's the must factor, the must factor alienating buyers with his support of far right-wing figures. And of course, there's better competition from Chinese makes like BYD, SAIC, as well as Volkswagen, right, the legacy automakers. So, same story in Europe, demand evaporating. Big question is, will it ever recover? Prize with the headlines. Let's bring back in our expert contributor, now Fundstrat Global Advisors, Mark Newton to discuss some recent moves with Tesla. You look at the technicals on this one, Mark, what do you see? It's encouraging. The stock's been up 15% over the last three months. I mean, obviously it's had a tough first half of the year. Always discouraging when a stock becomes uh more political, but honestly, you know, Tesla's back half of the year is shaping up to be very, very good. I mean, they had a great first weekend with this uh robo taxi rollout. We know that the combination of both FSD and self-autonomous both could account for potentially a trillion dollars in the next five years. Uh and a lot of that is not being shown right now in the current data. So it is sort of a show me stock. Elon always over promises and to some extent has under delivered, but yet uh the stock is is something that is very promising for me. Uh I like the stock a lot. I think getting back above 349 would put it back towards uh new all-time highs. And so I I'm uh, you know, bullish. My cycle projections show the stock continuing to rise in the back half of the year, much different than the first part of the year. So I like it. Prize, let me ask you just back to fundamentals there. When you think about competition for Tesla in Europe, where is that primarily coming from, Prize? I mean, is it China, domestic, you know, European players, both? Yeah, you know, you saw you see some upside uh some upside sales here for for BMW, right? And also, Volkswagen, I mentioned a lot of new smaller models coming out that are playing in spaces that Tesla isn't operating. Same with the Chinese auto makers, they're not operating that that that that sort of cheaper market, the sub 25,000, 30,000 euro market where those other players are operating. Now we Tesla's long been saying that they are going to come out with this cheaper EV. Uh they've been saying that now for the past year. We haven't seen it yet. We're all kind of anxiously waiting to see what it is. What is it? Is going to be a smaller car? Is it going to be like a D content Model Y? We'll see, but what Mark was saying is absolutely right because uh tell about technicals too. The stock is totally divorced from fundamentals, right? We talk about poor European sales, stock down a bit, but it's been up a lot recently. Uh the stock is a momentum stock, right, Mark? And I think that uh as you see in second half of the year, seasonality seasonality wise, that stock tends to do better. Yeah, absolutely right. Look, you look at the first part of the year, a lot of these sales are from time when when Elon was still affiliated with administration. And so it might not account for the current day. It's more of what happened in in recent history. And I think that sentiment uh should start to change in my view going forward. All right, thank you, Prize. And a big thank you, of course to Mark Newton for hanging us with this this afternoon. Some final thoughts, Mark. Nasdaq 100 at new all-time highs. I think Nvidia at new time highs. Uh S&P will get there sooner than later at a time when breadth is slowly but surely starting to expand. That's a good sign at a time when the economy seems to be working, earnings are good, and geopolitical risks are easing. So, investors don't seem to be all in on stocks by a long shot. People are still concerned for the right reasons. That's generally a time you still want to stick with the trend with markets at new highs. Not so much a technical question for you, but a question for a guy who's watched the markets for a long time. You go back to early April to liberation day, right? Sky is falling, run for the hills. What do you just make of the move here? Are you surprised by how fast and hard we've come back? I look at sentiment, I look at cycles. I think they're more important for me in determining where prices can go rather than Fed speak or earnings or any of those. So, you know, there was classic signs of capitulation that happened at the April lows. Um and I put out a report actually in April that said stocks are close to bottoming. I I am surprised of course that we're back at new all-time highs. You can see a bounce, but the fact that tech carried through as quickly as it did uh very, very encouraging. For my great great grandfather, Isaac Newton, you don't ever want to fight trends. Never things that are accelerating cannot be moved without sufficient force. So, like technically, things are in great shape and and sentiment has been a key reason why investors want to stick on board and and try to divorce themselves from what's happening in the world and just concentrate on their portfolios. When you call that bottom, did you get any push back from clients on that? Uh I got a lot of pushback, of course. I mean, I think that people uh think you're you're crazy when when we see markets selling off to the extent they did specifically in late March. I happen to be in in Latin America and so trying to write reports while being in Medellin and and Lima, it's not fun to have to go back and address the volatility and people look at you a little funny. So, uh happy that things worked out and and you know, it's encouraging to see both Tom Lee and myself have been, you know, optimistic and and saw reasons as to why stocks should have bottomed and pushed higher. Uh and still reasons for optimism, you know, I think in in the back half of this year, even if we get a bumpy fall. So, um happy for the recovery. Mark, great to have you on Saturday. Thank you, sir. Good to have you. Thank you. Great to be here. Thanks. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Automotive
- Yahoo
What's next for Tesla as its European demand evaporates
Tesla (TSLA) stock slides after data showed that the company's European sales dropped nearly 28% in May, even as overall electric vehicle (EV) demand in the region rose. Yahoo Finance Senior Reporter Pras Subramanian joins Asking for a Trend host Josh Lipton and Fundstrat Global Advisors managing director and global head of technical strategy Mark Newton to discuss what's behind Tesla's slump and how the stock might move going forward. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
Yahoo
25-06-2025
- Business
- Yahoo
Nvidia posts record close, Nasdaq rises
It was a mixed day on Wall Street, with the Nasdaq Composite (^IXIC) closing slightly higher, the S&P 500 (^GSPC) ending the day flat, and the Dow Jones Industrial Average (^DJI) shedding 106 points. The big story of the day is Nvidia (NVDA), which closed at a new record high. Yahoo Finance Markets Reporter Josh Schafer and Fundstrat Global Advisors managing director and global head of technical strategy Mark Newton discuss the market action at the close. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. That is the closing bell on Wall Street, and now it's market domination Overtime in full team coverage of all the moves to get you up to speed on the action from today's trade. Josh Shafer is here with me as well as Mark Newton, fundstrat global advisor, managing director, and global head of technical strategy. So markets, looking at the popular average here, looks like we're in mix. The Dow is going to finish down about 90 points. The S&P 500 looking unchanged, flat at 6092. I have the Nasdaq up about three tenths of a percent. Joshua, over to you from Morgan where the markets closed. Yeah, Josh. So, as you mentioned, not a ton of action in your major averages. And there really wasn't even a ton of movement when you look at just this intraday of the S&P 500. I think at the peak of the day, we were maybe up 0.2%. So really, markets didn't even move that much at the index level either. Couple other things I want to hit on, Josh, that we had sort of been following over the last couple days. So the 10-year T note, we had been talking about, right? Of course, that had been on a recent decline. Did not move much today. Then I'm going to flip over to Bitcoin. Let's take a look at how Bitcoin did on the day. Bitcoin up slightly over 107,000 a coin right now. And then also looking over at oil. Oil ticked up a little bit today. We had been following a pretty big decrease in oil over the last two days, right? If I flip this to a three day, that had sort of been the story of the market to start the week was oil lower, stocks up. But the big news, I think in a world where we didn't have too much move today, Nvidia. We had Nvidia hit a record close today for the first time since, I believe, it was January. So one of the first record closes for Nvidia of the year. And if you just flip out over the last month or the last three months, stock's been on a pretty good run off the bottom, right? So this was sort of your April low off the tariff news. Nvidia fell with the rest of the market. Stock has been looking pretty good and now hitting a new all-time high. I will also call out just broadly the semis have been doing pretty well. So if you look at the chip sector and then take a look at a three day here, we had a decent rally in semis yesterday. You can see Broadcom is up 6% over the last three days. AMD up 12% over the last three days. So decent action there. And then I'll just close out here with the sectors on the day and get your out performers. Outperformer on the day was once again tech. Had healthcare a little bit, slight outperformance, I guess we could call it, but really another tech driven day in markets. All right. Thank you, Josh. Mark, I also want to get your take here. Give me the technical take, Mark, on today's action. What do you see? Well, the biggest development, I think, was Nvidia hitting new all-time highs. I mean, it's 7% of the S&P, and certainly a big move. A lot of people thought it might stall out near that 153 level, and to get above that in my view is going to be positive in the days to come for both S&P and QQQ. So, uh, it's really about the move this week less than today. We saw a really good movement this week out of the financials, and the week being only Wednesday. So it's really been Monday, Tuesday. Remarkable outperformance in the last couple days out of Industrials, Financials, Transportation, and Consumer Discretionary. All sectors that had lagged into Monday of this week over the last month. Eight out of 11 sectors were down over the last month. Some to the extent almost two to three percent when you look at financials, industrials. That has all changed, folks, this week. So a very, very good recovery, very good signs out of that, a broadening out in this rally. Uh, many people get skeptical as indices hit new all-time highs, but honestly, that's the time you really got to pay attention. Sentiment remains offsides, and that's a key message. Until we see all these CTAs and hedge funds really start to pour money back into the market, uh, trends look great. The economy is good. Earnings are good. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
