Stock market trending picks and more
U.S. stocks were poised to end a solid first half with further gains Friday, underscoring how unexpected strength in the economy has upended investor expectations this year.
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Marketwatch:
Nike (NKE): Shares of the sneaker giant fell 2.4%
Apple (AAPL): Stock traded 1.5% higher
Carnival (CCL): Stock was up around 8%.
Nikola (NKLA): Shares of the EV startup gained 10%
ASML (ASML): shares edged lower.#StocksToBuy pic.twitter.com/LzZOdePE2k— The_Journalbiz (@the_journalbiz) June 30, 2023
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A string of strong economic data in recent days tamped down recession fears, while driving expectations that the Federal Reserve would need to keep raising interest rates to curb inflation.
Trending stocks today are:
Nike (NKE): Shares of the sneaker giant fell 2.4% after it reported weaker-than-expected earnings Thursday afternoon. The company indicated it would continue discounting items as it seeks to clear inventory.
Constellation Brands (STZ): The stock was recently about flat, shaking off early losses. The Modelo maker posted a decline in quarterly net income.
Apple (AAPL): The tech giant’s stock traded 1.5% higher, meaning Apple logged a $3 trillion market cap for the first time since early 2022. It has yet to close above that level.
Carnival (CCL): The cruise operator’s stock was up around 8%. Carnival is the third-best performer in the S&P 500 this year, outrunning companies including Tesla.
Nikola (NKLA): Shares of the electric-vehicle startup gained 10% after the company said that it now complied with Nasdaq’s requirement to maintain a minimum stock price of $1.
ASML (ASML): U.S.-traded shares of the Dutch semiconductor-equipment manufacturer edged lower after the Netherlands said companies would have to seek permission before selling some types of chipmaking equipment abroad.
