Market Movers, August.27th
6:55am, Dow futures flat
7:51am, Dow futures up 22 points, volume 53,724
Reuters front page archived https://web.archive.org/web/20190827120721/https://www.reuters.com/
“Amazon’s top treasurer leaves the company after 15 years of managing its money” CNBC
8:11am, OSN is up 111% on 661,225 shares after they announced receiving an $18 million loan
8:16am, PLAN is down 8% on 361,701 shares after missing analyst estimates by 16 cents
J. M. Smucker misses quarterly sales estimates, cuts full-year forecast
TEVA up 3% on 439,148 shares at 8:30am. Great article about the company. Link
8:34am, Dow futures up 75 points, volume 60,516
“Edison Nation and 4Keeps Roses Launch A Joint Venture to Expand Distribution of Preserved Hand-Picked Roses That Last Two Years”. Up 50% on 348,037 shares as of 8:38am
“Papa John’s +3% after naming new CEO”, Seekingalpha reports
11:17am, Dow turns red, down 16 points, volume 69,258,535
1:17am, Dow pulls back 124 points after the yield curve inverts 4 basis points. This happened quite suddenly. Volume 121,785,483
A lot of short selling going on. You can just tell by the chart patterns
Key yield curve inverts to worst level since 2007, 30-year rate under 2%
“Oil rises 2.4%, snapping four-day losing streak ahead of expected US crude build”, CNBC
Top losers list almost completely consists of small caps under $5 almost zero mid caps, when yesterday there was several midcaps
TEVA was up 3% in the premarket this morning, but finished the day down 10%
“The U.S. is turning the Gulf Coast into a major export hub, and that could one day make U.S. crude an international benchmark, according to Citigroup’s Ed Morse”.
“Citigroup says U.S. oil exports of 3 million barrels a day could grow by a million barrels a day this year and another million next year”. CNBC reports
Dow closes down 120 points, volume 263,534,623