![]() Analysts at Truist said that the company is likely to benefit from a stronger-than-anticipated U.S. (LPX + $1.48 to $72.30) after Truist upgraded the provider of building products & equipment to "Buy" from "Hold" and raised their price target on the stock to $82.00 from $49.00. Calls are outnumbering puts ~3:1 with the July 21 st 100.00 call being the highest volume contract (volume is 487).Īlso trading to the upside this morning is Louisiana-Pacific Corp. The company also provided upside guidance as full-year 2024 (FY24) EPS is expected to come in a range of $2.30-2.60 on revenue that is expected to come in a range of $630-660M versus the respective $2.04 & $601.15M consensus estimates. (AVAV + $4.91 to $95.03) are trading higher this morning after the unmanned aircraft maker reported fiscal Q4 earnings of $0.99 per share, excluding non-recurring items ($0.04 beat) on revenue that rose 40.3% year-over-year to $186M (above the $159.52M consensus estimate). Natural Gas prices have traded in a range of $2.697-2.839 so far today and were last seen trading lower by $0.039 (or - 1.41%) to $2.724/MMBtu. Gold prices have traded in a range of $1,913.10 to $1,926.10 and were last seen trading lower by 0.43% to $1,915.60. WTI Crude Oil (/CL) is down slightly to $67.81 per barrel. The Cboe Volatility Index® ($VIX) has been on both sides of the unchanged line today and was last seen lower by 0.27 at 13.47. ![]() Dollar Index ($DXY) is up slightly to 102.72. The 10-year Treasury note yield ($TNX) was down ~3 basis points to 3.73%. Small-caps also found buying interest Tuesday, and the Russell 2000 (RUT) small-cap index is up nearly 6% in June-on pace for its best month since January. ![]() While tech finished near the top of the leader board with 2% gains, behind only consumer discretionary, other sectors like industrials, materials, and real estate also delivered solid performance.įinancials showed up for the rally, too, and beleaguered regional bank stocks are up nearly 4% so far this month. Yesterday's rebound in high-flying info tech stocks didn't mean other parts of the market flagged. Passing these stress tests often frees up banks to raise dividends or buy back shares. Shares of both fell around 3% in premarket trading.īank stocks are little changed as investors await the Fed's assessment of how much capital banks would need to withstand a severe economic downturn. Semiconductors came under pressure after The Wall Street Journal reported that the Biden Administration is considering new restrictions on exports of artificial intelligence (AI) chips to China, a move that could potentially hurt companies like Nvidia (NVDA) and Advanced Micro Devices (AMD). At the same time, the financials sector braces for results of Federal Reserve "stress tests" later this afternoon, and Fed Chairman Jerome Powell speaks on a panel this morning. Stocks lost ground early Wednesday following a report that the United States is considering more curbs on chip exports to China.
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