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FCEL

Shares of FuelCell Energy Inc (FCEL) are trading lower by 5.94% amid overall market weakness due to concerns over further rate hikes. The Federal Reserve's latest June FOMC Minutes highlighted some signs of supply and demand in the labor market moving toward a better balance. Higher interest rates can limit access to affordable financing options, making it challenging for companies like FuelCell Energy to secure necessary funds for capital-intensive projects.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 7:50 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB) is trading lower by 3.14% amid overall weakness in cryptocurrencies. The altcoin may be trading lower in sympathy with the broader U.S. market following better-than-expected US jobs data, which could raise concerns over further rate hikes. Higher interest rates increase the opportunity cost of holding altcoins like Shiba Inu, which can negatively impact its price and liquidity.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 7:12 pm

CS

UBS

UBS has taken over Credit Suisse's shipping finance business and combined it with its own aircraft financing business, according to a memo cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:39 pm

UBS

UBS has announced management appointments for its Global Wealth Management division. The bank is also 'carefully examining' all options for Credit Suisse's Swiss business, according to a memo cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:39 pm

SOFI

SoFi Technologies, Inc. (NASDAQ:SOFI) shares are sliding lower due to overall market weakness, increased volatility following the recent debt ceiling deal, and the U.S. Supreme Court ruling to block President Biden's plan to cancel $430 billion in student debt. The company announced a conference call to discuss Q2 2023 financial and operating results on July 31. Over 15% of available SOFI shares are currently being sold short.

Portfolio Pulse from Erica Kollmann

July 06, 2023 | 4:32 pm

TVIX

UVXY

VIXM

VIXY

VXX

The CBOE Volatility (VIX) Index surged over 20% on Thursday due to concerns that the Federal Reserve may raise interest rates again in 2023. This was fueled by strong economic data and hawkish remarks from Federal Reserve Bank of Dallas President, Lorie K. Logan. Traders now anticipate an increased likelihood of Fed rate hikes, with the probability of a 25 basis points hike in July rising to 95%. ETFs that track the VIX index, such as ProShares VIX Short-Term Futures ETF (VIXY), iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), VelocityShares Daily 2x VIX Short-Term ETN (TVIX), ProShares Ultra VIX Short-Term Futures ETF (UVXY), and ProShares VIX Mid-Term Futures ETF (VIXM), may be impacted.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 4:31 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower despite Citigroup initiating coverage on the company with a Buy rating and a price target of $13, implying a potential return of nearly 22%. The broader market is selling off due to the ADP National Employment Report, which raised the chances for a 0.25% interest rate hike in July. Plug Power has a considerable short interest with 19.39% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

July 06, 2023 | 4:28 pm

LCID

Lucid Group Inc's shares are trading lower by 6.95% due to overall market weakness and concerns over further rate hikes following better-than-expected US jobs data. Higher interest rates can increase the cost of capital for electric vehicle companies like Lucid Group, impacting their ability to secure favorable terms for raising funds and potentially leading to higher component prices, affecting Lucid Group's manufacturing costs and overall profitability.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 4:09 pm

DOGEUSD

Dogecoin (DOGE) is trading lower by 3.59% amid overall weakness in cryptocurrencies and the broader U.S. market. This is likely due to better-than-expected US jobs data, which could raise concerns over further rate hikes. Dallas Fed president Logan also stated that more rate hikes are likely necessary. The rise in interest rates can introduce additional uncertainty and volatility to the financial markets, potentially leading to a decrease in investor confidence and a shift towards traditional investment options.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 3:51 pm

TSLA

Tesla Inc's shares are trading lower by 2.66% amid overall market weakness and concerns over further rate hikes. The Federal Reserve's latest data shows signs of supply and demand in the labor market moving toward a better balance. Higher interest rates could increase Tesla's borrowing costs, potentially impacting its ability to invest in future growth. Investors may also reassess the valuation of growth-oriented companies like Tesla, leading to downward pressure on stock prices.

Portfolio Pulse from Henry Khederian

July 06, 2023 | 3:48 pm