Daily Market Check - May 21, 2024

Daily Market Check - May 21, 2024

Welcome to your structured daily market check newsletter, providing you with the latest updates and insights from the financial world.

Market Indices

  • S&P 500: Closed at 5,308.13 (+0.09%)
  • Dow Jones: Closed at 39,806.77 (-0.49%)
  • NASDAQ: Closed at 16,794.87 (+0.65%)
  • FTSE 100: Data not available
  • Nikkei 225: Closed at 38,946.93 (-0.31%)
  • DAX: Closed at 18,676.05 (-0.48%)

Sector Performance

Top Performers:

  • Tech: +14.7%
  • Real Estate: Benefited from pullback in bond yields

Worst Performers:

  • Industrials
  • Consumer Discretionary

Economic Indicators

  • US Consumer Sentiment: Dropped to a 6-month low of 67.4 due to inflation, unemployment, and interest rate concerns.
  • US Consumer Confidence: Declined to 109.5 in November.

Earnings Reports

  • Amazon (AMZN): Beat EPS estimates for recent quarters, expected EPS 1Q’25: 1.00
  • Foot Locker (FL): Earnings on 5/30, expected EPS 2Q’24: 0.8
  • Lowe’s (LOW): Earnings 4/30, consensus EPS forecast: 2.94 (-19.89% YoY)
  • AutoZone (AZO): Earnings 5/31, consensus EPS forecast: 35.72 (+4.69% YoY)
  • Macy’s (M): Earnings 4/30, consensus EPS forecast: 0.17 (-69.64% YoY)

Gainers & Losers

Top Gainers:

  • GT Biopharma: +150.00% to $7.80
  • Faraday Future: +74.76% to $1.80
  • Zenvia Inc.: +67.39% to $3.85

Top Losers:

  • MMTec: -85.02% to $1.05
  • Fangdd Network: -30.95% to $1.16
  • iPower Inc.: -29.07% to $2.05

Focus Stock: Tesla (TSLA)

  • Sector: Consumer Durables/Motor Vehicles
  • Current Price: $173.84 pre-market (closed $174.95 on 5/20)
  • P/E Ratio: 44.71x
  • EPS (Forward): $0.345
  • Q1 2024 Revenue: $21.30B
  • Q1 2024 Net Income: $1.17B
  • 52-week Range: $138.80 - $299.29
  • Market Cap: $557.95B
  • Dividend Yield: None

Analyst Recommendations

  • Target (TGT): 28 Buy, 15 Hold, 0 Sell. Avg target $186.96
  • Yelp (YELP): 4 Buy, 3 Hold, 0 Sell. Avg target $45.60
  • Nvidia (NVDA): Analysts bullish, raising price targets (UBS to $1,100, Truist to $1,177, HSBC to $1,050, BofA to $1,100). Expected EPS $5.22, sales $24.4B for April quarter.

Market Highlights

  • Indian markets flat, rupee rises on easing crude prices.
  • $395 Rubyglow pineapple highlights luxury fruit market spike.
  • Sensex, Nifty up in special session on 5/18 Source.

Stay tuned for more updates in our next newsletter to keep you informed about the ever-evolving market landscape.