Monday’s Headlines: Can We Expect More All-Time Highs?

Monday’s Headlines: Can We Expect More All-Time Highs?

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Apple (AAPL) +5.2%

ShotSpotter (SSTI) +5.1%

Ulta Beauty (ULTA) +4.2%

Boston Beer Co. (SAM) +3.6%

Wynn Resorts (WYNN) +3.1%

Moving Down ⬇️

Baozun (BZUN) -7.4%

Eventbrite (EB) -5.7%

Nautilus (NLS) -5.6%

Cloudflare (NET) -3.4%

Wix (WIX) -3.4%

1. Not content with last week’s record-setting gains, stock futures seem intent to keep the good times rolling on Monday morning. The Dow Jones (DIA), S&P 500 (VOO), and Nasdaq (QQQ) are all trading in positive territory following an unstoppable rally in major technology shares last week, helping the S&P 500 in particular to recoup all of its pandemic-driven losses this year. For now, only the Dow remains in negative territory YTD, sitting 5% off of its record-high in February. Get the full catchup here.

2. Shares in Apple (AAPL) jumped another 5.1% on Friday to give the tech giant a closing market valuation of $2.13 trillion. Last week’s strong performance comes ahead of its planned 4-to-1 stock split later this month in a move that Apple has claimed will make “the stock more accessible to a broader base of investors” — these investors must not have heard of fractional investing yet. However, this rise was also down to strong earnings, optimism looking towards its 5G phone cycle, and its own status as the world’s most valuable company making it a safer investment in uncertain times. Read more here.

3. It looks like TikTok won’t be going down without a fight as it plans on suing the Trump administration as early as today over the president’s ban. The short-form video app was given 90 days to divest all U.S. operations on August 14 and is currently in talks with potential buyers Microsoft (MSFT) and Oracle (ORCL). “To ensure that the rule of law prevails and that our company and users are treated fairly, we have no choice but to challenge the Executive Order through the judicial system,” a TikTok spokesperson said. Read the full report here.

JamieJamie

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