- Wall Street gains at the opening
- Bridgewater co-CIO Greg Jensen said markets are getting it wrong and warned of a bad outlook for stocks and bonds
- Tesla shares are gaining following the Q1 initial announcement
US indices show investors remain upbeat about equities after the SP500 (US500) posted its best first half since 2019, fueled by a resilient economy and appetite for technology companies. US500 is gaining 0.03% and US100 is up more than 0.20% closing to the 15400 points. However, several prominent institutional investors have expressed concerns about the sustainability of this rally, suggesting that it could be short-lived:
- Bridgewater co-CIO Greg Jensen warns of a gloomy outlook for stocks and bonds
- Pimco's CIO anticipates a "harder landing"
- Fidelity and Janus highlight the decoupling of equities from the worsening economic backdrop, suggesting that chasing the stock rally could become a trap
- JPMorgan advises watching earnings as profit margins may not be sustained near record highs due to cooling inflation and slowing growth
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The top movers for the SPX index (US500) today are Carnival Corp (+9.73%), SolarEdge (+5.94%), and Enphase Energy(+5.49%), both Carnival Corp and SolarEdge extends bullish momentum from the previous week, source Bloomberg
- Tesla (TSLA.US) shares rally 6.7% in premarket trading, after the world’s most valuable automaker said it delivered a record 466,140 cars worldwide in the second quarter, outpacing Wall Street estimates
- Cryptocurrency-exposed stocks rise in US premarket trading as Bitcoin hovers above the closely watched $30,000 level for a twelfth consecutive session. Riot Platforms +7.7% (RIOTUS), Marathon Digital (MARA.US) +8.0%.
- Fidelity National Information Services (FIS.US) gains 5.41% in US premarket trading as the Financial Times reports that private equity firms, including Advent, are considering buying its majority stake in Worldpay at a valuation exceeding $15 billion. Analysts see the interest as positive for the share price of FIS.
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