Momentum Movers

• $NUKK up 327% today after an apparent short squeeze commenced following the company’s recent announcement that it acquired a 51% controlling stake in Star 26 Capital.
• $SPY down 3% after hawkish comments from Fed Chair Powell triggered a flight out of most equities.
• $IWM down 4% as bond yields spiked following the Fed’s press conference, putting pressure on small-cap stocks. 
• $TSLA down 8% as tech stocks were sold off today, and call heavy options positioning unwound significantly in the stock. 
• $QMCO up 153% after the company announced support for Nvidia GPUDirect storage with Myriad All-Flash file system. 
• $IONQ down 14% as the stock lost recent momentum from the quantum computing surge. Also, Citron Research mentioned the company as being in a “bubble” along with several other stocks. 
• $CRWD down 7% despite announcing the company is SHI’s first and fastest pure play SaaS cybersecurity vendor to surpass $1B in sales.
• $MSTR down 9% as Bitcoin tumbled to $100K from its recent all-time highs of $108K.
• $APP down 7% as a continued unwind in bullish positioning took place following its failure to be added to the S&P 500 last week. 
• $VIX up 74% as a rush to hedge triggered a significant move in volatility-related products.

Sector Performance

Market News 

• Fed Chair Powell shocked markets with a more hawkish tone regarding future rate cuts, emphasizing that the 2% inflation target and the strength of the US economy will allow the Fed to slow or pause rate cuts if inflation progress does not continue. 
• The 10-year treasury note yield surged to 4.50% following the Fed’s hawkish comments. 

Upcoming Events 12/19/24 

• PCE / Core PCE
• Initial / Continuing Jobless Claims
• Earnings: $ACN, $NKE, $DRI, $FDX, $CAG, $BB, $AVO, $CTAS, $FCEL