TLDR

MARKET RECAP → All three major indexes rose Tuesday ahead of an earnings report from the most important stock in town, NVIDIA (NVDA).

HINDENBURG TARGETS SUPER MICRO → 🧨 Hindenburg Research disclosed a short position in Super Micro (SMCI), alleging accounting issues and supply chain risks, which sent the company's shares lower as investors reacted to the news.

HOME PRICES REACH NEW HIGH → 🏠 In June 2024, home prices reached a record high, driven by limited supply and strong demand, despite rising mortgage rates making the market challenging for buyers.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Hindenburg Targets Super Micro

🧨 Hindenburg Research disclosed a short position in server maker Super Micro (SMCI), citing concerns over alleged accounting irregularities and potential supply chain issues, which could impact the company’s financial stability.

📉 The announcement sent Super Micro’s shares tumbling as investors reacted to the potential risks highlighted by the short seller, known for its aggressive tactics and impactful reports.

🕵️‍♂️ This move underscored Hindenburg’s ongoing scrutiny of tech companies, particularly those it believes may be overvalued or facing significant operational challenges.

TODAY’S TOP NEWS

Home Prices Reach New High

🏠 Home prices hit a record high in June 2024, according to the S&P Case-Shiller Index, as limited supply and strong demand continued to drive the market upward.

📈 The index showed an annual increase in prices, highlighting the persistent challenges for buyers in an environment of rising mortgage rates and tight inventory.

💰 Despite higher borrowing costs, the housing market remained resilient, with home values continuing to climb, signaling ongoing strength in real estate.

BULL VS. BEAR

NOTABLE POSTS

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Nvidia has become world’s ‘most important stock,’ adding pressure to upcoming earnings report (CNBC)

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