The Federal Reserve’s meeting minutes from the June policy gathering, set to be released on Wednesday, are expected to reveal an active debate among policymakers. Despite this, overall, they still seem inclined to support further measures to control inflation.
Scheduled for 2 p.m. EDT (1800 GMT), these meeting minutes come after three weeks of intense deliberation by U.S. central bank officials following the June Federal Open Market Committee meeting. During this period, officials, including Fed Chair Jerome Powell, have been outlining their perspectives on monetary policy. Powell and other key figures have emphasized the forecasts presented during the gathering, which strongly suggested that another half-percentage-point tightening later this year was still very much on the table.
|
Netflix, Rivian, Wolfspeed rise premarket; Tesla, UPS fall
U.S. futures traded lower, with investors cautious ahead of the release of Federal Reserve meeting minutes from the June policy gathering.
Here are some of the biggest premarket U.S. stock movers today:
- Netflix (NASDAQ:NFLX) stock rose 0.8% after Goldman Sachs upgraded the streaming giant to ‘neutral’ from ‘sell’, citing the “overall positive current operating performance”.
- Tesla (NASDAQ:TSLA) stock fell 0.8% after the EV manufacturer cut prices in Japan of its Model 3 and Y electric vehicles by low single-digit percentages from the start of this month.
- United Parcel Service (NYSE:UPS) stock fell 2.1% on the growing chance of a strike after the Teamsters Union said the parcel delivery firm had “walked away” from negotiations over a new contract, a claim denied by the company.
- United States Steel (NYSE:X) stock fell 2.3% after Exane BNP Paribas downgraded its stance on the steel producer to ‘neutral’ from ‘outperform’ ahead of its latest earnings report.
- Coinbase (NASDAQ:COIN) stock fell 2.5% after Piper Sandler downgraded the cryptocurrency exchange to ‘neutral’ from ‘overweight’, citing the uncertainty caused by the recent case brought forth by the SEC, as well as the continued lack of regulatory clarity in the U.S.
- Wolfspeed (NYSE:WOLF) stock soared 15% after Renesas Electronics (TYO:6723) signed a ten-year deal with the chipmaker, worth up to $2 billion, for the supply of wafers to scale up the move into the power device market.
- Rivian Automotive (NASDAQ:RIVN) stock rose 7.7% with e-commerce giant Amazon (NASDAQ:AMZN) set to deploy its first European vans made by the EV maker in Germany over the coming weeks as part of long-term plans to electrify its transportation network.
|
Some of the biggest movers:
|
ZuluTrade, the shining star of Finvasia’s social trading platform, has just dropped a bombshell that has the media buzzing with excitement. Prepare for some serious financial fireworks as ZuluTrade teams up with the revered Forex and CFD broker, Hextra Prime!
This dynamic duo is about to revolutionize the game, raising the bar and making trading dreams come true for both ZuluTrade and Hextra Prime clients. Brace yourselves for a mind-blowing trading experience, as you gain effortless access to top-notch asset classes and the mind-boggling opportunity to copy the strategies of over 90,000+ trading gurus featured on ZuluTrade’s platform.
Hextra Prime, known far and wide as a trailblazer in Forex and CFD trading, adds another jaw-dropping layer to ZuluTrade’s already awe-inspiring ecosystem. Get ready to dive into a treasure trove of popular Forex pairs, Futures, Indices, Metals, Energies, and Shares—all seamlessly integrated into the epic social and copy trading wonderland of ZuluTrade.
|
Stock Analysis
Meet WVS Financial Corp. (OTCMKTS:WVFC), the cool kid on the banking block, holding the reins of West View Savings Bank in the United States. With a dazzling array of banking products and services, this financial maverick has carved out a name for itself. Boasting five branches and a hefty asset value of USD 363 million, WVS Financial Corp. means business.
Now, let’s talk about the competition, shall we? Cue Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) and Texas Community Bancshares, Inc. (Nasdaq:TCBS). When pitted against these small fry, WVS Financial Corp. shows off its financial muscles with pride. It’s got higher earnings per share, a sweeter price-to-earnings ratio, a tastier profit margin, and a juicier yield than both Mid-Southern Bancorp and Texas Community Bancshares. Oh, and let’s not forget about the cherry on top: WVS Financial Corp. even boasts a superior return on equity compared to Texas Community Bancshares.
These impressive numbers make investors weak in the knees, turning their heads toward WVS Financial Corp. faster than you can say ‘money talks.’ So, if you’re looking for an attractive investment opportunity, you might want to pull up a chair and get cozy with this financial frontrunner.
In the vast landscape of investment opportunities, navigating the terrain can be as daunting as finding a needle in a haystack. But fear not, intrepid investor! Armed with knowledge, strategy, and a touch of wit, you can conquer the markets and secure your financial future.
However, remember that even the savviest of investors benefit from sage advice. It’s like having a trusty sidekick by your side, guiding you through the twists and turns of the investment world. So, don’t hesitate to consult with a professional financial advisor who can provide valuable insights tailored to your specific goals.
With their expertise, you can uncover hidden gems, avoid potential pitfalls, and unleash the power of a well-diversified portfolio. Together, you’ll decode the cryptic language of market trends, effortlessly adapt to changing landscapes, and seize opportunities that others may overlook.
So, whether you’re a seasoned investor or just starting on this exhilarating journey, remember that smart investing is both an art and a science. Embrace the wisdom of professionals, blend it with your own intuition, and embark on a path that leads to financial brilliance. Get ready to make those investments sparkle and shine!