Oracle Was the S&P 500’s Top Loser on June 22
Oracle rose on June 22 due to the earnings report. The better-than-expected earnings report for fiscal 4Q17 boosted Oracle’s stock prices.
After falling for two consecutive trading days, the S&P 500 was mixed on June 22 and ended the day almost flat.
After testing and closing below the important level of 12,800, Germany’s DAX Index pulled back on June 23. German manufacturing PMI data didn’t support DAX.
After falling from two-week high price levels on June 22, China’s Shanghai Composite Index started lower on June 23. It gained strength and closed positive.
Lower trade and investment flows could impact employment and wage growth, which might impact the standard of living in the United Kingdom.
According to legendary investor George Soros, Brexit is going to impact the United Kingdom (EWU) and the European Union (EZU) (VGK) (IEV).
On June 20, 2017, billionaire investor George Soros warned that the United Kingdom is reaching the “tipping point” as Brexit negotiations continue.
CA Technologies stock rose due to reports about it becoming private. CA Technologies plans to go private through a merger deal with BMC Software.
The S&P 500 opened higher on Wednesday but fell as the day progressed. On Wednesday, the S&P 500 VIX Index fell 1.0% to 10.75.
The FTSE 100 Index started on a weaker note amid weakness on Wall Street. At 7:15 AM EST on June 22, the index was trading at 7,418.75—a fall of 0.39%.
On June 22, the Shanghai Composite Index fell 0.28% and ended the day at 3,147.45. The SPDR S&P China ETF (GXC) rose 0.7% to $89.18 on June 21.
About a year ago, legendary investor Bill Miller said at the Delivering Alpha Conference in September 2016 that he liked Valeant Pharmaceuticals (VRX).
Whole Foods Market (WFM) has returned nearly 40% on a year-to-date basis as of June 20, 2017.
One of Miller’s top stock picks is Apple (AAPL), which has had a tremendous performance in the past year with returns of 54%.
In a recent interview with CNBC, Bill Miller, the chair of Miller Value Partners, shared his views on Amazon’s deal with Whole Foods Market.
Chipotle Mexican Grill’s revised guidance dented the market sentiment. Chipotle Mexican Grill fell more than 6% and started the day on a weaker note.
The S&P 500 opened lower on Tuesday and fell as the day progressed. On Tuesday, the S&P 500 VIX Index (CBOE Volatility Index) rose 2.2% to 11.10.
European markets opened lower on June 21 after overnight losses on Wall Street. Weakness in the energy and industrials sectors dragged US markets lower.
China’s Shanghai Composite Index pulled back last week amid concerns about China’s economic stability. It started this week on a stronger note.
Bill Gross, portfolio manager at Janus Henderson, is pessimistic about the influence of the current monetary policy and fiscal policy on the asset bubble.