E Summer Friday

The stock market tried for another record after Thursday's late blowout over the infrastructure deal between the White House and Congress yesterday but it didn't stick today except for Nike NKE which had better sales than expected. Unable to see their accounts people could not trade stocks higher—or lower.

Moreover the Dept of Commerce today reported slower than expected person consumption expenditure last week. Several of our companies reported important news and one of my favorites got upgraded to buy by Goldman Sachs analysts. And non-US infrastructure plays rose on the day after.

The DA in Manhattan told Trump's lawyers it may bring criminal charges against his family business.

Her Majesty's Revenue Collection sent tax bills to 1200 companies.

Photo by Annie Spratt on Unsplash

More follows, but this blog is incomplete. All data is from the opening not later. So I am broadcasting it to all.


*Israeli-American Tower Semiconductor (TSEM) which already plans a new Arizona fab factory, will also add capacity in Europe under a deal in Italy. This will triple its capacity for 900 mn chips per year. The fab goes live in the 2nd half of next year. It will add $350 to 500 mn in revenues. TSEM stock rose all of 15 on the news mainly because Tel Aviv is shut. It gained 6.2% late Thursday.

*Another bit of Israeli news affects our NIO, an electric vehicle maker in China. It is shipping to Israel vehicles equipped with mobile internet to be used as taxis. Nio fell 0.44% because Chinese electric vehicle stocks were compared unfavorably to Tesla by analysts. All the Chinese outperformed US Tesla because Elan Musk's outbursts hurt TSLA. Both need to catch up with the best Chinese startups.

*Finnish Nokia was upgraded from hold to buy by Goldman Sachs analyst Alexander Duval this morning because its Q1 earnings this year were 8¢/sh vs only 1¢ last year. While it doesn't have insiders who own a lot of its stock, the Reddit-meme focus on NOK led many on Wall Street to open naked shorts in NOK. On Jan. 28 this led the NOK share to drop 52% from its then high at $9.79. It fell to what Duval believes to be a support level of $5.15 last Friday, June 18. Today it opened up 6.4% at $5.43 and may have further to go. But it may have to fall to $5.18 before this. The Goldman note led NOK to unusually heavy trading which caused NOK's 8-day average to cross over its 200-day average, supposedly bullish. If it doesn't rise it risks falling to $4.86. I am not a chartist because NOK is traded heavily in Europe and has been a meme favorite, neither fitting the $ charts.

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Today access to my internet account with TD Ameritrade crashed on all my devices so I know it is not my fault. It may be windows or the brokerage but I could not log on with my username and ...

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