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Below are AI-generated insights on today’s premarket moves, powered by MarketReader technology.

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Friday, January 26, 2024

The overall market is currently experiencing normal macro volatility.

Some of the largest moves in the market today include: Bitcoin has experienced a very large move of +2.7%. US Dollar Index has experienced a large move of -0.3%. CAC 40 Index (France) has experienced an extreme move of +2.4%.

European stock markets showed mixed performance as investors processed corporate earnings and awaited key U.S. inflation data, with the DAX in Germany trading slightly lower while France’s CAC 40 and the UK’s FTSE 100 rose. The European Central Bank (ECB) maintained interest rates at a record-high of 4% during its recent meeting, avoiding discussions on rate cuts despite acknowledging faster-than-expected falls in inflation.

Oil prices are set for significant weekly gains driven by robust U.S economic growth figures from Q4 and Chinese stimulus measures; however, they faced slight declines after reaching their highest levels since December due to healthy demand signals from both countries. Tensions escalating around the Red Sea have raised concerns over potential oil supply disruptions which could lead to price spikes if supplies tighten further.

Additionally, market participants are closely monitoring an upcoming Federal Reserve policy meeting scheduled for January 30-31 that may influence monetary tightening pace expectations and consequently affect commodity pricing dynamics including oil.

AI-generated summaries of notable premarket ETF moves:

BITCOIN | BTC/USD $41035 +2.7%
The recovery in equities and the weakening of the dollar during European trading may be contributing to Bitcoin’s price movement. Additionally, slowing outflows from Grayscale Bitcoin Trust could help support the token after a recent slump. These macro market movements and investor sentiment towards BTC are key factors influencing its price.

VANECK SEMICONDUCTOR ETF | SMH $190.15 -1.2%
The price of VanEck Semiconductor ETF (SMH) has moved down significantly since the previous close. There was a signal reversal bar left by the leader of SMH, which may have contributed to this downward movement. Additionally, correlated assets such as KLAC (-3.72%), NVDA (-0.89%), and INTC (-10.48%) also experienced negative returns, potentially impacting SMH’s performance further.

AI-generated summaries of notable premarket stock moves:

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(Even if you don’t have an account, you can still see real-time summaries of the top 6 most unusual asset moves at the moment)

Intel Corp | INTC $44.80 -9.7%
Information Technology, Semiconductors
Intel Corp’s stock has fallen significantly by -10.0% since the previous close. This decline can be attributed to disappointing Q1 revenue guidance and a weak outlook for its data center and AI unit. Despite beating earnings estimates in Q4, Intel forecasted lower-than-expected first-quarter revenue of $12.2B-$13.2B compared to consensus expectations of $14.2 billion.The company’s weaker-than-anticipated performance raises concerns about its turnaround efforts under CEO Pat Gelsinger as it faces increasing competition from rivals like Nvidia and AMD in areas such as autonomous driving chips and AI accelerators. 

Visa Inc | V $264.74 -3.2%
Financials, Transaction & Payment Processing Services
Visa Inc’s stock price has declined -2.9% since the previous close, potentially due to its strong Q1 earnings report beating expectations with higher EPS and revenues. The company also announced strategic acquisitions to enhance processing capabilities. Social media buzz highlights positive sentiment towards Visa’s performance metrics. However, it is worth noting that Visa may be underperforming sector peers and experiencing weakness in the overall sector since the last session. 

Colgate-Palmolive Co | CL $80.00 -1.5%
Consumer Staples, Household Products
Colgate-Palmolive Co’s stock has experienced a -0.9% change since the previous close, potentially influenced by their Q4 earnings report exceeding expectations and forecasting sales growth of 1-4%. The company plans to increase investment in advertising and expects double-digit EPS growth for future years. Despite this positive news, the price seems to be underperforming its sector peers.

Thermo Fisher Scientific Inc | TMO $554.57 +3.0%
Health Care, Life Sciences Tools & Services
Thermo Fisher Scientific Inc’s price has moved up +2.5% since the previous close, potentially driven by positive expectations for its upcoming Q4 2023 earnings announcement. The company is expected to report an EPS estimate of $5.64 (previous: $5.40) and a revenue estimate of $10.7B (previous: $11.4B). Thermo Fisher seems to be outperforming sector peers and leading in overall sector strength, contributing to the upward movement in stock price. 

KLA Corp | KLAC $619.68 -3.5%
Information Technology, Semiconductor Materials & Equipment
KLA Corp’s stock declined -3.6% following their Q2 earnings report, which showed higher-than-expected EPS of $6.16 and revenues at $2.5B but provided weaker guidance for Q3 2024 with projected EPS of $4.66-$5.86 and revenue between $2.2B-$2.4B . Analysts raised price targets to as high as $750, while social media highlighted the company beating revenue expectations in Q2 ($KLAC). The negative correlation with Intel (-9.98%) due to disappointing guidance may have influenced KLA’s decline (correlation: 0.58), along with underperformance compared to sector peers since previous close

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