The highlight of the newsletter focused on Nvidia’s significant drop in market value on Tuesday, losing $279 billion which is the fifth time the stock has lost more than $200 billion in market cap in a single day. The stock is now down 23.3% since June 20 and is down another 2% after hours. This drop was attributed to the Department of Justice taking a closer look at antitrust concerns for Nvidia. The article also mentioned other semiconductor stocks like Micron Technology and Advanced Micro Devices that have also experienced losses in the past five sessions.
In contrast to the semiconductor stocks, the SPDR S&P Dividend ETF only fell 0.4% on Tuesday, highlighting its stability despite market fluctuations. The ETF has a dividend yield of 2.4% as of Tuesday night, which some investors might consider low. This indicates that the ETF may be a more conservative investment option for those seeking stability during turbulent times.
The article also delved into the performance of the S&P Utilities Sector, noting that it finished flat on Tuesday. The sector pays a 3% dividend, which attracts investors when interest rates are low. The utilities sector has shown growth since March 2022 as interest rates started to rise, with NRG Energy, PG&E, and Constellation Energy being the top performers in the last month. Conversely, American Water Works and AES are at the bottom of the pile, experiencing losses in the past month.
The S&P Energy sector experienced a 2.4% decline on Tuesday, with notable drops from companies like APA, EOG Resources, and Halliburton. Despite the overall sector decline, some companies like Oneok and Targa saw gains of 15% in a month. This sector analysis provides insights into the performance of energy stocks amid changing market conditions.
The newsletter also hinted at a forthcoming analysis of gambling stocks by CNBC’s Contessa Brewer. The article mentioned the performance of DraftKings, Flutter, MGM Resorts, and Caesars Entertainment, all of which have seen significant drops since their respective highs. The anticipation for the analysis of gambling stocks adds an element of curiosity for readers interested in this sector.
“Stocks @ Night” offers a comprehensive overview of the market performance of various sectors and individual companies. The newsletter provides valuable insights into the factors influencing stock movements and offers readers an opportunity to stay informed about market trends. Readers can gain a deeper understanding of market dynamics and potentially make more informed investment decisions based on the information provided in the newsletter.
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