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💲 Noteworthy Stocks & Assets:
Moderna (NASDAQ:MRNA) jumped 17% after the closing bell on Tuesday after the company released data that showed its potential coronavirus vaccine producing a “robust” immune response in all 45 patients in its early human trial. London’s Telegraph also reported that results from a Phase 1 clinical trial evaluating Oxford University’s COVID-19 vaccine - backed by AstraZeneca (NYSE:AZN) - generated an antibody and T-cells (killer cell). The response, if confirmed, has significant implications for sustained immunity since antibodies may fade away within months while T-cells remain in circulation for years.
Netflix shares plunged over 9% AH on Thursday, wiping out nearly all the gains from the last month, after earnings fell below a lofty profit consensus and weak guidance was given for Q3. While the streamer logged another 10.1M new paid subscribers last quarter, it sees “growth slowing as consumers get through the initial shock of COVID and social restrictions.” There were also big changes in the C-suite: Ted Sarandos, who has led original content efforts, was named co-CEO along with founder Reed Hastings, while chief product officer Greg Peters added COO to his title. Looking ahead, some are asking how much new content Netflix (NASDAQ:NFLX) will be able to upload during the COVID-19 pandemic and whether the resumption of professional sports will eat into its market share.
Weekly Market Movement Wrap
Dow +2.3% to 26,672. S&P 500 +1.3% to 3,225. Nasdaq -1.1% to 10,503. Russell 2000 +3.7% to 1,475. CBOE Volatility Index -5.9% to 25.68.
S&P 500 Sectors
Consumer Staples +1.5%. Utilities +1.9%. Financials +2.9%. Telecom -0.5%. Healthcare +3.7%. Industrials +5.2%. Information Technology -1.6%. Materials +4.6%. Energy +4.5%. Consumer Discretionary -1.%.
London +3.2% to 6,290. France +2.% to 5,069. Germany +2.3% to 12,920. Japan +1.8% to 22,696. China -5.% to 3,214. Hong Kong -2.5% to 25,089. India +1.2% to 37,020.
Commodities and Bonds
Crude Oil WTI +0.1% to $40.59/bbl. Gold +0.6% to $1,812.1/oz. Natural Gas -5.5% to 1.706. Ten-Year Treasury Yield +0.1% to 139.38.
Forex and Cryptos
EUR/USD +1.16%. USD/JPY +0.09%. GBP/USD -0.43%. Bitcoin -1.2%. Litecoin -6.6%. Ethereum -2.8%. Ripple -3.5%.
Top Stock Gainers
Equillium (NASDAQ:EQ) +335%. Boxlight (NASDAQ:BOXL) +267%. RumbleON (OTC:RMBL) +178%. Heat Biologics (NASDAQ:HTBX) +144%. InnerWorkings (NASDAQ:INWK) +134%.
Top Stock Losers
Gritstone Oncology (NASDAQ:GRTS) -53%. NextCure (NASDAQ:NXTC) -48%. Tricida (NASDAQ:TCDA) -37%. Qutoutiao (NASDAQ:QTT) -28%. Osmotica Pharmaceuticals (NASDAQ:OSMT) -28%.
The week ahead:
Monday: Halliburton and IBM earnings.
Tuesday: Coca-Cola, Lockheed Martin, Philip Morris, UBS, Snap and Texas Instruments earnings.
Wednesday: Existing US home sales; United Airlines, Biogen, Chipotle, Microsoft, Tesla and Whirlpool earnings.
Thursday: Initial US unemployment claims; Germany consumer confidence; American Airlines, Hershey, Kimberly-Clark, Twitter, Intel and Mattel earnings.
Friday: New US home sales; American Express, Honeywell and Verizon earnings.
🎯 Stocks On Our Radar:
🏆 Quotes That Inspire Us:
“What counts in life is not the mere fact that we have lived; it is what difference we have made to the lives of others that will determine the significance of the life we lead.” - Nelson Mandela
📖 Word Of The Week:
Gratuitous adj. 1. Given or granted without return or recompense; unearned. 2. Unnecessary or unwarranted; unjustified: A gratuitous remark.
❔ Did You Know:
‘Bookkeeper’ and 'bookkeeping’ are the only 2 words in the English language with three consecutive double letters.
📽 A Must Watch & Listen:
📚 Books We Are Reading:
🤣 One Liners:
- If someone with multiple personalities threatens to kill himself, is it considered a hostage situation?
- Is there another word for synonym?
📆 Upcoming Events:
Ask Jim: Live Q&A Webinar
- An exclusive Q&A webinar with the Master Investor himself, Jim Mellon.
- Thursday July 30th, 1PM BST. Online.
- More information and registration HERE.