26 Signals Across 9 Portfolio Themes
Let’s scan through the headlines for the stories of the week that speak to our Pro Portfolio holdings.
Weekly Roundup: A Good Week to Lose Less as Market Stumbles
During a week of outperformance vs. the S&P, we closed out one holding, locking in substantial gains that rebuilt our cash position.
SpaceX Shines Amid Sagging Market, So I’m Snagging Some Shares
Here’s how and why I’m picking up some Space Exploration Technologies and tracking the stock closely.
Equity Slide Enters Fourth Day
Oil climbs and treasury yields hit fresh multi-year highs, pressuring stocks for a fourth consecutive day.
Taiwan Semi’s August Revenue Surges: 8 Key Items Shaping the Pro Portfolio Today
Bullish AI chip comments, Palantir’s AIPCon event, Costco warehouse openings, and other headlines are moving the Pro Portfolio’s holdings.
JPMorgan Upgrades Meta and Raises Price Target
JPMorgan upgraded Meta Platforms ($META) to overweight from neutral, citing upside potential following the social media giant’s launch of its AI assistant. The firm also boosted its META price target to $820 from $640.
“Meta is in the early stages of releasing frontier models and AI-driven products beyond advertising, notably Muse AI agent and Meta Model API access,” analyst Douglas Anmuth said, according to reports. PT was set to $820, implying a 25% increase from last close.
“Frontier models are at the core of Meta’s (META) product and monetization pipeline over a multi-year period, and its path toward superintelligence.”
“Muse is built around security and privacy—an advantage for Meta—which we believe could be a key hurdle for other agents to gain trust and navigate more challenging tasks involving passwords, credit cards, and other personal information.”
Position: TheStreet Pro Portfolio is long META
How Well Is the Market Holding Up? Could Be Better.
The equal-weight S&P is off 5% and new lows are climbing. Is that healthy? Let’s look closer.
Two Down, Two to Go
Wednesday was another tough day up and down Wall Street. Crude oil was up almost 4%. Treasury yields continued to rise. Oh, and equities ended up getting slapped around a bit.
The S&P 500 gave back 0.48% for the regular session while the Nasdaq Composite surrendered 0.64%. Yes, yields still went the wrong way despite the fact that the U.S. Treasury Department announced that it would triple its liquidity stability program buyback operation to $6 billion worth of 10-Year to 20-Year bonds.
This move followed the Treasury’s announcement last month that it was going to at least double those repurchases.
Energy ($XLE), for obvious reasons, was the only S&P sector to show gains on Wednesday as the Industrials ($XLI) led 10 sector SPDR ETFs into the red. Datadog ($DDOG) and Meta Platforms ($META) were the top performers in the S&P 500 for the day. The downside was led by Casey’s General Stores ($CASY). That stock was pummeled for a loss of 14.2%.
Two down, two to go. Dougie is still off tomorrow, but I will not be your tour guide. One of my colleagues will be at the helm.
I wish you all a peaceful evening. It has been a pleasure to work with you these past two days, as it always is. May God guide you and hold you until we meet again.
Sarge
Position: None
Meta and Chips Cover Up Market Weakness
Here are a few names I’m watching closely as we work through this difficult period.