NEWS
Investors Eye Earnings As Stocks Stabilize

Global markets stabilized overnight and closed in the green despite some late-day selling. Economic data is light this week, so although macro worries remain, investors are paying close attention to company earnings. Let’s see what you missed. 👀

Today's issue covers additional context on yesterday’s volatility, Super Micro’s earnings slump, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with real estate (+2.21%) leading and healthcare (+0.46%) lagging.

And here are the closing prices: 

P.S. We’re experimenting with different formats to streamline your experience. Like something, don’t like something, hit me up. I want to hear from you. 👍

EARNINGS
Market Catches Its Breath After Historic Slump

Monday’s historic move in volatility was followed by another historic move, this time in the opposite direction. The Volatility Index ($VIX) went from a high of 68 yesterday to an intraday low of 24 today, closing at 27.70.

However, some market analysts suggest we are unlikely to see a V-shaped recovery in the market after such a large spike in volatility. 😫

Andrew Thrasher, CMT, shared a great chart today showing previous instances that saw further downside before an ultimate recovery. It also reinforced the perspective of several charts we shared yesterday, which suggested that forward returns are strong after volatility spikes but that the path to getting there would be bumpy. 🫨

Some traders on Stocktwits are taking shots on the long side at current levels. For example, @Honeystocks shared his view of the Russell 3000 index (representing 98% of investible U.S. equities), which suggests that if prices are above their 2021 highs, then the bull case remains intact. 🐂

Still, other Stocktwits users are not so sure. Sentiment on the platform remains mixed, with the S&P 500 and Dow Jones Industrial Average sitting in ‘bearish’ territory, while the Nasdaq 100 is ‘bullish.’ The Russell 2000 remains the odd man out, with sentiment stuck in neutral for now.

Let us know what you’re doing, and we’ll share the data tomorrow. 👇

STOCKTWITS & 11thESTATE PARTNERSHIP
Get Your Piece Of The $200m Uber Settlement

In 2019, Uber went public and raised over $8.10 billion. Soon after, the company faced major financial losses and several accusations. Uber was criticized for bypassing local regulations in many areas and for ignoring serious safety issues, including sexual assaults, deaths from crashes, and fatal assaults before the IPO.

Uber agreed to pay $200M to investors to settle claims that its subsidies increased costs during the IPO and that planned cuts could have risked key growth opportunities.