Stocks Are Jumping On December 16 As The Year-End Rally Continues
US Markets
- S&P 500 Futures +14.50
- US 10-Year 1.85%
- Dollar Index 96.96
- Oil $60.08
- VIX 12.02
International Markets
- Japan -0.29%
- HK -0.65%
- China +0.56%
- KOSPI -0.10%
- UK 2.3%
- DAX +0.74%
S&P 500 (SPY)
Markets are rising once again, with the S&P 500 trading higher by about 50 basis points to start. Futures are currently implying an opening of around 3,185 for S&P 500 cash. Markets continue to grind higher, pushing towards 3,200.
Acadia (ACAD)
Acadia is moving up today after getting initiated at Guggenheim with a Buy rating and $60 price. The company noted it sees peak sales for Nuplazid at $3 billion when combining Parkinson’s disease psychosis with dementia-related psychosis. It probably makes the stock worth more than $60, in my opinion. At four times sales, you get a $12 billion valuation versus its current market cap of $6.9 billion.
Micron (MU)
Micron is getting some positive commentary today ahead of earnings this week. Susquehanna gave the stock a significant price target increase to $85 from $45. Wow, that is a huge jump. $85 seems like a lot to me, but I guess we can find out. $54 is the next level of resistance.
Boeing (BA)
Boeing is falling this morning on news the company may halt production of the 737-MAX. This is one nasty looking chart, and I have been saying for what seems like forever in the mid-day commentary how I thought this stock was moving lower. $317 seems like the next level to watch for.
Tesla (TSLA)
So much for rising competition for Tesla. The new Porsche Taycan, ya know, the Tesla Killer, only has a range of 201 miles, wow. That is versus the Tesla Model S at 373. Tesla is moving up over $360 this morning, and the next stop maybe $378. Just think there haven’t even been “leaked” emails yet about the production of deliveries for the quarter.
That’s it.
Disclosure: Michael Kramer And The Client Of Mott Capital Own TSLA And ACAD
Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice when ...
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