Markets Reset as Crypto Steadies, Stock Pickers Take Over

Stock futures were lower Monday as a new month of trading began, with investors watching bitcoin after a weekend sell-off. Losses eased somewhat as bitcoin stabilized and selling pressure in precious metals slowed.

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Major Indexes: S&P 500 lower, Nasdaq lower, Dow slightly lower, Russell 2000 lower

Leading Sectors: Utilities, Health Care, Financial

Lagging Sectors: Energy, Technology, Communication Services, Consumer Discretionary

Disney (DIS): Disney shares climbed after the company reported better-than-expected revenue and earnings. Its theme parks, resorts, and cruise business generated over $10 billion in quarterly revenue for the first time.

Strategy (MSTR): The bitcoin-focused company fell as cryptocurrency prices weakened amid global uncertainty and stalled crypto legislation in Washington.

Tesla (TSLA): Tesla shares declined following news that Waymo is seeking new funding at a high valuation, which raised concerns about competition and overall electric vehicle stock valuations.

Tyson Foods (TSN): Tyson reported quarterly results and updated its full-year outlook, noting continued losses in its beef business but stronger performance in pork, chicken, prepared foods, and international operations. The company also announced changes to how it reports its business segments.

Twist Bioscience (TWST): Twist reported quarterly revenue and a loss for the period, while raising its full-year revenue outlook.

Oracle (ORCL): Oracle moved higher after announcing plans to raise up to $50 billion to expand its AI infrastructure. An analyst also suggested the company could consider layoffs to help manage cash flow.

Nvidia (NVDA): Nvidia slipped after reports said its large planned investment in OpenAI has been delayed. Management said the company still expects to make a major investment.

Critical Metals (CRML), Energy Fuels (UUUU), Idaho Strategic Resources (IDR): Shares of several rare earth and critical minerals companies rose after reports that the U.S. government plans a major investment in strategic mineral stockpiles to reduce reliance on China.

Newmont (NEM), Freeport-McMoRan (FCX): Mining stocks edged higher as gold and silver prices bounced back after a recent pullback.

Opera (OPRA): Opera said its quarterly revenue and profitability will come in above prior guidance, and it raised expectations for full-year results.

Harrow (HROW): Harrow reaffirmed its full-year revenue outlook and highlighted business expansion plans, a regulatory settlement, and a new commercial leadership hire.

Hess Midstream (HESM): Hess Midstream reported steady quarterly earnings and revenue and shared full-year financial results showing consistent profitability.

Revvity (RVTY): Revvity posted solid quarterly earnings and revenue and issued full-year guidance that met investor expectations.

Aptiv (APTV): Aptiv reported record annual revenue and strong earnings but also recorded a large non-cash goodwill write-down. The company provided guidance for the year ahead.

(Stocks showing elevated volume and notable price movement)

Gainers: LUV, VIAV, BIPC, AVT, SYY, CGON

Losers: AI, SOFI, LVS, KVYO, HUBS, CVLT, HUM, PAR, PINS, MMYT, CEG, MNDY, FIG

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.