Market Summary
| Index | Value | Change | Percentage |
|---|---|---|---|
| Dow | 30,946.99 | -491.27 | -1.56 |
| S&P 500 | 3,821.55 | -78.56 | -2.01 |
| Nasdaq | 11,181.54 | -343.01 | -2.98 |
| Russel 2K | 1,738.84 | -32.90 | -1.86 |
| VIX | 28.36 | 1.41 | 5.23 |
Massive red days are back! All indices are in deep red territory with VIX surging back up above 28 again. Cathie Wood believes US is already in a recession. I think as the month June ends and the market wraps up one of the worst six months of the year in stock market history, we can start to see some uptrend.
Tesla took a beating today, with the stock price dropping below 700 yet again! Discussing new car quality, JP Morgan states below -
“For Tesla, which ranked 7th from the bottom this year, with the same initial quality score as Mitsubishi, panel alignment and poor paint quality were more common problems than customer issues with the company’s mobile app or infotainment.”
Strategy : Take a deep breath!
News
ARK Invest’s Cathie Wood says the U.S. is already in a recession
Crypto fund defaults on $670M loan, and Bitfury CEO says prices aren’t ‘relevant’: CNBC Crypto World
Cathie Wood explains her bear market strategy, slashes portfolio to just 34 holdings
New car quality declined sharply this year with supply chain problems, says J.D. Power