MARKET HIGHLIGHTS
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market highlights
GOOD WEEK
Roku Inc. (ROKU 30.91%) rose on strong Q2 earnings that beat expectations, though challenges in TV advertising persist. Roku is a streaming device and platform that delivers digital content to TVs. They offer streaming players and smart TVs to access various streaming services, with a user-friendly interface for easy navigation. Roku's platform includes "The Roku Channel," their ad-supported streaming service, providing movies, TV shows, and live news.
NIO (NIO 10.35%) a Chinese EV maker, experienced a significant stock surge this week, driven by positive macroeconomic news and expectations of economic tailwinds. Additionally, NIO's stock benefitted from a partnership between a Chinese EV peer and Volkswagen, boosting investor confidence. QuantumScape, a battery manufacturer, also saw gains as it made progress toward commercializing its solid-state battery technology for EVs.
BAD WEEK
Moog Inc. (MOG-A -9.91%) stock dropped as Q2 earnings missed estimates. Moog is a worldwide designer, manufacturer, and integrator of precision control components and systems. They specialize in high-performance systems for aerospace, defense, industrial automation, medical equipment, and other industries. Their products include motion and fluid controls, used in military and commercial aircraft, satellites, launch vehicles, and more.
Gogo Inc. (GOGO -8.98%) experienced a drop in its stock due to announcing a delay in its Gogo 5G system launch. The delay was caused by a design error in a non-5G component of its chip, designed by a third-party subcontractor of its 5G solution provider. The company now expects to deliver Gogo 5G around mid-year 2024.
WHAT ELSE HAPPENED
Inflation is the gradual increase in prices of goods and services over time, reducing the purchasing power of money. It can be caused by increased demand, rising production costs, or inflationary expectations. Governments and central banks monitor and aim to control inflation to maintain economic stability.
In June, prices in the US increased at a slower rate than before. The Federal Reserve, which oversees the economy, measures inflation using the core Personal Consumption Expenditures. It grew at the slowest yearly rate since September 2021. Wages also increased more slowly in the second quarter, the slowest since the fourth quarter of 2021. To control inflation, the Federal Reserve plans to continue raising interest rates.
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