Intel $INTC, is down 10% after-hours after providing weaker than expected guidance in their earnings release
The move lower has erased $20 billion in market cap in just two hours. Intel provided Q1 2024 EPS guidance of $0.13, which is well below expectations of $0.34. They are also guiding Q1 2024 revenue of $12.2B-$13.2B, below expectations of $14.2B. The question becomes if this weakness is an Intel issue or an industry-wide issue. Source: The Kobeissi Letter
Tesla shares plunged 12% in worst trading day since 2020 after automaker warns of slowdown
Note that short interest as a % of equity float is near record low... Source: Bloomberg, HolgerZ
The Nasdaq 100:
- if you bought at the December 2022 low, you are up 64% - if you bought at the 2021 high. you are up 5%. - if you bought at March 2020 lows, you are up 150% Source: Bespoke, TME
Could this signal a bottom in Hong Kong stock market?
The index's P/B is now at a level that preceded the three biggest rallies (81%, 43%, 55%) over the last decade. Source: Bloomberg, David Ingles
As of January 19th, NVIDIA $NVDA and Microsoft $MSFT had accounted for about 75% of the S&P 500's gain this year, while the 20 largest stocks in the index accounted for 110% of the index's upside move
The remaining ~480 stocks were acting as a drag. Source: Bespoke
The SP500 just snapped a 512 trading day streak without hitting a new all-time high, the 6th longest in history. Here is how the $SPX responded the 5 previous times:
Source: Barchart
BlackRock is already putting out charts showing that $BTC has been the world's best-performing asset in the last decade.
Source: Lark Davis
This year is just the fifth time that the S&P 500 has started the year with back-to-back declines of 0.5% or more
Source: Bespoke
