On Thursday, stocks roared ahead in reaction to the tame November CPI data in the U.S. Unfortunately, the government shutdown prevented the Bureau of Labor Statistics from providing all the data. That might limit the rally in the S&P 500 (SPY) and Nasdaq (QQQ).
Two stocks did not participate in the rally. FactSet Research (FDS) fell by 7.68% to close at $273.39. In the first quarter, the firm posted revenue of $607.6 million (+6.8% Y/Y). Despite the strong results, FDS stock declined. Investors may take advantage of the irrational response.
Generac Holdings (GNRC) fell by 5.41% to close at $136.99. GNRC stock is now down by 18.3% in the last week, falling for five straight days. Investors dumped the stock after a major power outage affected the Pacific Northwest. Still, the downtrend started in August and shows no sign of abating.
Micron Technology (MU) closed at $248.55, up by 10.21%. The market did not expect the memory supply to hike earnings sharply. Expect the stock to continue trading higher, toward $280. The product cycle for chips in the AI field continues to thrive. This lifted Nvidia (NVDA) and Sandisk (SNDK) on the day. Storage supplier Seagate (STX) and Western Digital (WDC) also rallied.
