Market Snapshot – Crypto, infrastructure & travel stocks 🤔
Tuesday, 9th November 2021 by Gotrade
Hey Gotraders,
There’s a lot going on in the world at the moment. Let’s take a look at the crypto, infrastructure & travel sectors, and what’s happening there.
🤑 Crypto stocks
Bitcoin and Ethereum are rallying and have reached new all-time highs. Bitcoin gained more than 5% and rallied past $68,000 while Ethereum gained more than 3% and rallied past $4,800.
Stocks with crypto-exposure also rallied. Crypto-exchange Coinbase (COIN) closed up 5% while Micro Strategy (MSTR) gained nearly 8%.
🏗️ Infrastructure stocks
The House of Representatives just approved a $1 trillion infrastructure bill over the weekend. The bill is a major achievement for President Joe Biden and his vision for the United States. This $1 trillion bill is meant to refresh the transportation, broadband, and utilities sectors. Thanks, Joe!
The infrastructure bill will likely be signed next week after lawmakers return to Washington.
Infrastructure stocks benefitted and rallied following the news. Caterpillar (CAT) and Vulcan Materials (VMC) gained more than 4%, while mining company Freeport-McMoRan (FCX) closed up 6.45%.
✈️ Travel stocks
So, the United States has FINALLY put an end to its 18-month international travel ban, and reopened its borders for fully vaccinated people from dozens of countries yesterday! Woo hoo!
Families can finally reunite, and people can start traveling again. Do you know what this means? This is great news for the travel sector. Airlines can get their planes back in the air again, hotels will be occupied again, and other travel and tourism-related businesses stand to benefit as well.
Shares of US airlines rose. Delta Airlines (DAL), United Airlines (UAL), and American Airlines (AAL) closed up 0.81%, 0.76%, and 1.97% respectively.
📈 Google is the newest member to enter the $2 trillion market cap club 💰
Hello ladies & gents, are you ready to welcome the newest member of the trillion-dollar market cap club? Say hello to… Google (GOOG)!
That’s right - Google’s market cap briefly hit 2 trillion green bucks yesterday before it retreated back and closed just below the $2 trillion mark. Ai yai yai, so close!
The other members in the elite club include Apple (AAPL) and Microsoft (MSFT). Looks like the club is getting filled with Big Tech companies… Hmm…
Google hit $1 trillion in market cap just last year in January. Impressive growth, eh?!
Let’s see if their market cap hits the $2 trillion mark again today, and hopefully stays above it!
Shares of Google closed at $2,987.02, up 0.07% for the day.
📈 AMD – Meta partnership 🤝
Advanced Micro Devices (AMD) has won Meta Platforms (FB), formerly Facebook, as a new chip customer. That’s not all, AMD also revealed a whole new range of chips during the company’s Accelerated Data Center Premiere event.
Industry analysts seem to think that AMD has gained performance advantages over its competitors, and has started to steal market share away from market leaders such as Intel (INTC). Some of AMD’s customers include Microsoft (MSFT), Amazon (AMZN), and Google (GOOG).
Wow, impressive!
Shares of AMD closed at $150.16, up 10.14% for the day. Shares are up a further 2.66% in extended trading at the time of writing. Nice!
Top movers & shakers 🎢
What else is making headline news 📰
PepsiCo (PEP) CEO says he expects delivery of the first Tesla (TSLA) Semis this quarter.
Roblox (RBLX) soars as it reports that revenue doubled in the third quarter.
Investors are piling into infrastructure stocks after House passes Biden plan.
Robinhood (HOOD) discloses breach that exposed information of millions of customers.
S&P 500 closes above 4,700 for the first time as infrastructure stocks rally.
PayPal (PYPL) issues disappointing revenue forecast for next year; announces Venmo deal with Amazon (AMZN).
Video: What it would take for Tesla (TSLA) to hit $1,800 this year, according to Wedbush’s Dan Ives.
Popular companies releasing earnings this week 💰.
Tuesday: Coinbase (COIN), NIO (NIO), DoorDash (DASH), BioNTech (BNTX), Palantir (PLTR), Toast (TOST), Upstart (UPST), Wynn Resorts (WYNN), Figs (FIGS), AbCellera (ABCL), FuboTV (FUBO), McAfee (MCFE), Krispy Kreme (DNUT), Aurora Cannabis (ACB), and many more..
Wednesday: Disney (DIS), Affirm (AFRM), SoFi (SOFI), Opendoor (OPEN), Bumble (BMBL), Beyond Meat (BYND), Fiverr (FVRR), Duolingo (DUOL), TaskUs (TASK), Wendy's (WEN), Wish (WISH), Payoneer (PAYO), The Honest Co (HNST), Tattooed Chef (TTCF), and many more..
Thursday: Coupang (CPNG), ArcelorMittal (MT), Coach (TPR), Wix.com (WIX), Weibo (WB), Manchester United (MANU), Nano Dimension (NNDM), and many more..
Friday: AstraZeneca (AZN), Li Auto (LI), Vipshop (VIPS), F45 Training (FXLV), and many more..
A company’s market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a company’s stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
That’s all from us for now.
Signing out,
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