In his Daily Market Notes Reporting to investors while commenting on Twitter, Louis Navellier wrote:
Close to the ground?
The market brushes off Friday’s loss and tries again for another positive week.
Stocks closed lower on Friday, leading to their 8th week down 9, but the VIX closed below 25 for the first time since mid-April, raising hopes that we are nearing a bottom.
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Q1 2022 hedge fund letters, conferences and more
Reopening push in China
Stocks opened strong in the green despite higher interest rates and energy prices. Positive news from China regarding further easing of Covid restrictions as well as easing of scrutiny of tech companies is helpful.
Amazon.com, Inc. (NASDAQ:AMZN) shares are up well from the 1:20 stock split, making the stock and, more importantly, the options affordable to more investors. Google grabs an offer hoping they could follow with their own split. Apple Inc.’s (NASDAQ:AAPL) annual developer conference started today and it will be interesting to see if any new products or services are unveiled.
Elon Musk calls out Twitter
Keeping things interesting, Elon Musk slammed Twitter Inc (NYSE:TWTR) for its “fake” user accounting methodology that could send its takeover plans to court, and he clarified that Tesla Inc (NASDAQ:TSLA) still counted the total number of employees will increase Restriction on hiring employees.
Crypto is recovering strongly today after one of the prolonged downtrends on record. Markets are looking for signs of a bottom amid Fed tightening and rising energy costs, and may find further solace if Friday’s CPI reads show more signs of peak inflation.
A good start
Strong consumer cash balances, full employment and post-Covid-19 pent-up demand could fuel growth despite higher interest rates and broader inflation trends and muted earnings estimate cuts than market bears expect.
A positive week is overdue and we got off to a good start this morning.
coffee beans
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