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MARKET UPDATE
Incremental Chinese stimulus
10yr 3.1% (Climbing)
More clarity today on how hawkish the Fed intends to be
Balanced Portfolios are down in 2022
The only years that have seen both stocks and bonds at a loss by end of August
Crude 95 flat
Tesla TSLA
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3-for-1 stock split today
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California set to vote on the ban of gasoline powered cars by 2035
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California is the largest auto market in the U.S.
Earnings
Nvidia NVDA -3%, guide lower for gaming
Salesforce CRM -5%, guide was light
Snowflake SNOW +16%, beat and raise, short squeeze
Autodesk ADSK +6%
Splunk SPLK -1%
Williams-Sonoma WSM +3%, EPS beat
Dollar General DG -2%, EPS beat, not raising guide
Dollar Tree DLTR -8%, reported in-line but cutting guide
Peloton PTON -16%
Under the Radar
CRYPTO UPDATE
Depository Trust & Clearing Corp (DTCC): Project Ion
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Huge institutional adoption piece
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DTCC process virtually every trade in $40 trillion US stock market
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Joining crypto-revolution
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Testing private blockchain – Project Ion
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Processing +100,000 trades per day
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Big implications for settlement times
Global crypto traffic
These are the tickers dominating the news headlines:
data from Swaggy Stocks
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Image and article originally from www.benzinga.com. Read the original article here.