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What’s driving the stock markets today? Tuesday 23 May

THE U.S. STOCK MARKETS TODAY

The stock markets today will likely follow yesterday’s uncertainty. At the close on Monday the major indexes were little moved. Following the ETFs on the major indexes the SPY (S&P 500), the DIA (Dow Jones) and the QQQ (Nasdaq 100) Index closed up +0.02, -0.42, and +0.34 percent, respectively, on Monday. For the YTD performance, take a look at the video below. 

The U.S. debt-ceiling talks are painful as they are weighed on the market. Despite this the Nasdaq 100 reached a 13-month high on Monday. Investors are continuing to bet on the mega-cap technology stocks.  

Global bond yields rose Monday. The 10-year T-note yield finished at 3.72%, a 2-month high. The UK 10-year gilt yield is at 4.06%, while the German bund yield is at 2.46%.

International stock markets closed mixed on Monday. Euro Stoxx 50 fell 0.22%. The Shanghai Composite rose 0.39 percent and the Nikkei Stock Index rose 0.90 percent.

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BARCHART’S Top Stock Pick for the stock markets today:

Inotiv Inc (NOTV)

The 20-100 Day MACD Oscillator for Inotiv Inc issued a New Buy Signal, with an Entry Price of $7.22.

Inotiv Inc. (NOTV) has experienced a 5-Year market gain of +332.34 percent compared to a 5-Year buy signal on the 20-100 Day MACD Oscillator of +547.81 percent. The Signal gain is based on 6 trades with an average duration of 178 days each.

stock markets today

Pharmaceutical research and development firm Inotiv Inc. It entailed offering developing pharmaceutical businesses contract research services and monitoring tools. Based in Indiana, Inotiv Inc., formerly Bioanalytical Systems Inc.

Traders from all around the world use online trading to benefit from the world’s largest and most liquid markets, trading up to $6 Trillion per day.
Due to innovations in technology investors and traders can now invest in a range of securities. Forex, Commodities, Energies, Indices & Stocks, easily to trade with FX PRIMUS at the click of a button.

Micron (mu): a Hit to its Share Price

MU designs and sells high-performance memory and storage technologies. This includes Dynamic Random Access Memory, NAND flash memory, NOR flash memory, and 3D XPoint memory. MU’s solutions are found in cutting-edge computing, consumer, networking, and mobile devices.
 
China’s cyberspace regulator stated Micron’s products failed a security evaluation. This led to a 5% fall in MU’s share price to $64.76. This was the worst fall in weeks. The US has “severe concerns” about China’s treatment of the corporation. China and the U.S. seek to resume high-level diplomatic talks regarding technology acquisition.

BARCHART: TOP STOCKS TO OWN

On a daily basis Barchart issues the list of Top Stocks to Own. The current pricing estimates as of May 23, 2023, Tuesday. The stocks are ranked based on their highest current Signals Rating. This, combines signal direction and strength. I review these stocks with three stocks selected evaluating Beta and Weighted Alpha.
 
First is Rxsight Inc. (RXST) in Medical Instruments, Market Cap $ 868mn, Beta 0.50 and WA +118.7.
 
Second, Super Micro Co (SMCI) in Computer – Storage Devices, Market Cap $ 8.6bn, Beta 1.25 and WA +231.6.
 
Third, Tingo Group Inc. (TIO) Technology Services, Market Cap $ 871mn, Beta 1.35 and WA +364.4.
STOCK MARKETS TODAY

PRICE SURPRISES AND VOLATILITY

For 23 May. Barchart lists Price Surprises both upside and downside. This is for volatile stocks, as indicated by standard deviation compared to their past 20 days of data.

STOCK MARKETS TODAY

STOCK PERFORMANCE LEADERS AND LAGGARS

The stocks below are ranked by Barchart based on the Highest Daily Percentage Change. Ranked for both gains and losses.

STOCK MARKETS TODAY

The charts used in this Blog Post are from Barchart. Barchart is a financial data and technology company that provides financial market data, news, analysis, and trading solutions. The website is designed for individual traders and investors, as well as institutional clients, including banks, brokers, and hedge funds.

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What’s driving the stock markets today? Tuesday 23 May

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Warren William

Warren William

Meet the author behind Smartest-Data. Warren William has a career in Finance and Investments extending over 35 years, both on the Buy Side and Sell Side. His most recent roles include, developing Institutional Risk Management Programs for managing Equity and Fixed Income Risk.  Prior to this Warren William work in Alternative Investments, in Investment Management and as a Buy Side Equity Analyst. Warren William brings a wealth of knowledge and expertise to the table, providing in-depth analysis and commentary on the latest trends in the Stock Markets. Contact information: wwBLOG@smartest-data.blog or Telegram +393339034488

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