economy
We're getting closer to upgrading Honeywell as shares pull back into its breakup
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Market attempts to rebound, with S&P 500 and Nasdaq showing gains.
- Honeywell is separating into Honeywell Aerospace and Honeywell Technologies, with a reverse stock split planned for Technologies.
- Investors who previously trimmed their Honeywell position may consider buying back shares.
- Apple's "Siri AI" announcement led to a dip in its stock price, interpreted as a 'sell-the-news' event.
- Upcoming economic data, including May existing home sales and the May consumer price index (CPI), will be closely watched.
- Stronger-than-expected CPI could increase concerns about potential interest rate hikes.