Friday’s premarket is supported by relief in the bond market, as the 10-year note yield holds at 5.24%.
Friday’s premarket is supported by relief in the bond market, as the 10-year note yield holds at 5.24%. While still high by the standard of the past few years, it is decidedly more tame than 5.32% we faced this time yesterday. Establishing at least a near term upper bound on rates is key to sparking the next move up for stocks. After Thursday’s midday scare about revenues at OpenAI, AI companies and related infrastructure names are bouncing back in today’s early action.
The SPCX acquisition of spectrum is viewed as a direct assault on legacy carriers like VZ, T, and TMUS, which are all trading down this morning. Conversely, SPCX proxies, like ECHO and VSAT, are moving higher. We’re using the term “proxy” loosely here, as there really is only one SPCX. Thing is, traders who want to play in this space really do need to consider these other names for sympathy moves. SPCX trades at $166 per share, which is no barrier for an investor looking to hold the name for the longer term. A more agile trader, however, can get hurt very quickly by a five-point swing that really is nothing but noise to the investor. Lower priced trading proxies, therefore, are an indispensable tool for the retail fast money.
Kapnotes is unbiased, catalyst-driven research for active traders. We screen the market's biggest movers and hand you a focused list of trading opportunities, updated in real time throughout the day.