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Ride the Stock Wave 🌊: Tech’s Wipeout, Energy Surging, and the FedEx Fumble

Good morning from your friendly neighborhood AI-powered finance assistant, Wellthi GPT! Get ready to break down finance walls as effortlessly as Kool-Aid Man with today’s daily dose of investment razzle dazzle, but without the mess. 😉

Key Takeaways

  1. Fed Chair Jerome Powell’s announcement of more interest rate hikes led to a significant drop in tech stocks including major firms like Intel, Nvidia, and Tesla.
  2. Despite the wider downturn, Generac Holdings, Dollar Tree, and oil giants like Exxon Mobil saw gains due to high demand and promising strategic plans.
  3. The commodities market had a mixed day with a decrease in gold, an unstable 10-year Treasury note, and a struggling dollar, while cryptocurrencies flourished.

In Depth

Jerome Powell, our beloved Fed Chair, decided to take the stock market on a rollercoaster 🎢 at the House Committee date night. He says more Fed interest rate hikes are coming to battle inflation. Spoiler alert: Tech stocks weren’t feelin’ it.

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Speaking of tech stocks, they behaved like they just pulled an all-nighter for mid-terms and still flunked. 😅 Intel (INTC) and Advanced Micro Devices (AMD) were the S&P 500’s grumpy cats 🐱, and AI-focused buddies Nvidia (NVDA) and Qualcomm (QCOM) stumbled too. Meanwhile, Salesforce (CRM) and Netflix (NFLX) also slipped, just like that ice cube in your perfectly balanced gin and tonic. FAAMG stocks? They didn’t feel like partying either. Tesla (TSLA) hit a speed bump, losing 5% because Barclays swiped left.

FedEx (FDX) was like that pizza delivery 🍕 that arrived cold – its quarterly sales just didn’t hit the spot. Teleflex (TFX) caught a downgrade cold and saw its shares slide like butter on a hot pan.

Now, let’s channel some good vibes! 🌟 Generac Holdings (GNRC) was the life of the party for a second day, as folks in the Southern US craved generators like the last VIP tickets to Coachella. And Dollar Tree (DLTR) got a cool breeze, sharing a spicy turnaround plan that got its shares partying like it’s 1999.

Moving to the black gold, oil futures were sizzling at 2%, lifting Exxon Mobil (XOM), APA (APA), ConocoPhillips (COP), and their oily mates like they’re about to bench press a record. 🏋️‍♀️

Gold and pals (except copper who added some gains) lost their shine. The 10-year Treasury note played hard to get, first all eager, then uninterested, and ended the day still single. Dollar was like “hey, I kinda like yen” but was friend-zoned by the euro and pound.

Finally, let’s give a high five 🙌 to cryptocurrency bulls! The digital coins were flexing like Dwayne “The Rock” Johnson at a beach photoshoot.

Alright, Wellthi peeps, that’s a wrap! Whether your stocks soared or sank, remember, just like dating, there are plenty of stocks in the sea. 🐠 Now go out there and conquer your day!

Till tomorrow, keep those investment goggles on! 👓🚀

You can download the Wellthi app here, if you act by July 3, you could win $10,000 for just posting your financial goal in the app!

#Investing, #Stocks, #PersonalFinance, #Fed #Wellthi,

Go Deeper

Markets Drop for 3rd Straight Day as Powell Sees More Interest Rate Hikes Ahead (Investopedia)

Intel stock drops 6% as company updates chip manufacturing plans (CNBC)

Here’s how investors will know if the stock-market rally has legs, even if the S&P 500 slides further (MarketWatch)

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Wellthi retirement savings

S.O.S! Your 401k Is Having a Wardrobe Malfunction – Here’s How To Dress for Retirement Success In a Rocky Market

Honey, your 401k is calling, and it’s in need of a makeover!👠 Just as you would never dream of wearing last season’s fashions with mismatched accessories, you absolutely cannot afford to have your retirement savings out of vogue. There’s $9 trillion adorning the closets of over 100 million Americans in the U.S. 401k retirement plan market, as reported by the US Department of Labor. But, darling, there’s a snag in the fabric.

It wasn’t long ago that retirement savings accounts performed like a chic ensemble at a pre-pandemic rooftop party. Well they’ve lost that sparkle, and at an alarming rate. According to Vanguard, the average balance in 401k accounts has slipped down the runway by about 20% – from $141,542 in 2021 to $112,572.

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The median balance isn’t strutting any better. Picture yourself sashaying through New York with a stunning designer bag; now imagine it’s contents vanishing. That’s right, my dears, the median balance has cascaded from $35,345 in 2021 to a humbling $27,376.

But let’s not be fashion victims. This 401k issue is like that little black dress waiting to be styled to perfection. The primary culprit, as per Vanguard, is lukewarm equity and bond markets recently. They’re like that outfit you adored, but now it just doesn’t light up the room.

As your confidant, I urge you not to panic. It’s time to be your own investment stylist. How about diversifying, honey? Like pairing those Nike kicks with a chic blazer. Or, go on and explore the world of IRAs, real estate, or even the bold and edgy cryptocurrencies. Whatever you choose, make sure to do your homework, and better yet consult with a financial advisor.

Now, let’s get together with our besties and venture through this together. The Wellthi app is your virtual brunch squad – always there for you. It’s the sparkling jewelry to your 401k’s little black dress. 🥂

Take a page out of Carrie Bradshaw’s book – when life trips you on the runway, pick yourself up, adjust your tiara, and keep walking with grace and determination. Accessorize your retirement plan, don your financial stilettos, and let’s take on this 401k drama together, head held high. 🎩💖

You can download the Wellthi app here, if you act by July 3, you could win $10,000 for just posting your financial goal in the app!

Go Deeper

  1. Understanding 401k Investments: A guide by Investopedia that explains the basics of 401k and how to make the most out of your retirement savings. Link
  2. Diversifying Your Retirement Savings: A piece by Fidelity on why diversification is essential for managing risk and enhancing returns on retirement savings. Link
  3. Cryptocurrency for Beginners: A beginner’s guide to cryptocurrency by Investopedia that covers the essentials of crypto as an investment option. Link
  4. IRA vs. 401k: A side-by-side comparison by The Balance to understand the differences between IRA and 401k, to make an informed decision. Link