LIVE MARKETS AMD, Tesla, Nvidia most popular retail picks in latest week

  • 1/6/2022
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U.S. index futures mixed: Dow up, S&P ~flat, Nasdaq 100 down Euro STOXX 600 index falls ~1.2% Dollar ~flat; crude up; gold, bitcoin down U.S. 10-Year Treasury yield rises to ~1.73% Jan 6 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com AMD, TESLA, NVIDIA MOST POPULAR RETAIL PICKS IN LATEST WEEK (0921 EST/1421 GMT) Long time retail favorites - chip makers AMD (AMD.O) and Nvidia and electric-car maker Tesla Inc (TSLA.O) - continued to be the most popular single stock purchases among small-time investors in the final week of 2021, data from JPMorgan"s weekly retail flows report showed. AMD attracted $248 million in retail flows this past week, while Nvidia locked in $173 million and Tesla $115 million. Indeed, AMD, TSLA and NVDA were among the top 10 most traded stocks by Fidelity"s customers. However, retail flows in December were concentrated in ETFs versus single stocks and S&P 500 (.SPY) and Nasdaq 100 (QQQ.O) continued to dominate market share last week, JPMorgan data showed. There was also growing evidence of rotation in terms of sectors, JPM strategist Peng Cheng said energy and financials showed strong demand and ETF tracking 7-10 Year Treasury Index (IEF.O) were sold the most in the latest week. In fact, two ETFs managed by Cathie Wood-led ARK Invest - Next Generation Internet ETF (ARKW.P) and Genomic Revolution suffered meaningful retail selling, according to Cheng. Retail interest in cinema operator AMC (AMC.N) and GameStop (GME.N), which were at the center of massive rallies in meme stocks in 2021 that hurt bearish hedge funds, have eased recently. But the retail buying appetite at large showed no signs of abating in the new year with Jan. 4 recording an estimated $1.4 billion of retail market order imbalance, the second highest ever observed after Black Friday, Cheng added. (Medha Singh) ***** FANGS LOOK FRAGILE (0900 EST/1400 GMT) With the market taking a bite out of growth stocks read more , tech titans were torn apart on Wednesday. Indeed, the NYSE FANG+TM Index (.NYFANG) had more than 3% sliced off and finds itself, once again, flirting with chart support. NYFANG is equal-weighted and includes 5 core FAANG stocks: Facebook (FB.O), Apple (AAPL.O), Amazon.com , Netflix and Alphabet (GOOGL.O). It also includes another 5 actively-traded technology/growth stocks: Alibaba , Baidu , Nvidia (NVDA.O), Tesla (TSLA.O) and Twitter (TWTR.N). NYFANG topped in early November right at a resistance parallel derived from its May 2021 low: NYFANG01062021 NYFANG01062021 In the wake of a more than 12% tumble, the index bottomed at the support line from its May low, which was backed up by the 200-day moving average (DMA). After retracing about two-thirds of that decline, NYFANG slid again, this time suffering a one-day closing violation of both the support line, and the long-term moving average, on Dec. 20. Nevertheless, the index was able to mount another sharp bounce. However, the quick reversal back up failed to reclaim the 50-DMA, leading to this week"s swoon. Now, the index is once again testing the support line, at around 7,215, the 200-DMA, which ended Wednesday around 7,135, and the December lows, in the 7,086/7,000 area. Traders will be watching to see if this zone can remain resilient. read more Breaking this support, including two-straight closes below the 200-DMA, can suggest much greater downside risk given the October trough was at 6,771. The 2021 lows were in the 6,106/6,086 area. A decline to this area would be around a 25% collapse from the high. NYFANG will need to reclaim its 50-DMA, and its early January high, at 7,604.51, to suggest pressure is off the downside. (Terence Gabriel) ***** FOR THURSDAY"S LIVE MARKETS" POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE: read more

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