) ended higher on Tuesday after the previous day's widespread sell-off. The S&P 500 and Nasdaq Composite both rose by 1.03%. While these stocks are on the rise, some investors may see this as a buying opportunity, Interactive Brokers chief strategist Steve Sosnick joined the show to share insight into what investors need to know if they want to buy the dip.
I think the I think the jobs report on Friday was certainly not helpful to what was going on, But I actually I'm not in the camp that these are that this is screaming recession.I mean, oh, it was the unemployment claims, the manufacturing activity.As a matter of fact, we we this is a week. Um, where basically the the yen and the NASDAQ 100 the Nikai were all have all been moving in lockstep for the last three weeks and so that to me, is not a coincidence.
Analysts had predicted $3.84 billion in the second quarter revenue came in roughly in line with estimates at about $2.75 billion. So when you're looking at companies like an air BNB, does that raise your antenna a little bit a little bit?I mean, first of all, the fact that the market is is basically it doesn't matter if you beat it at this point, it really doesn't matter if you beat on earnings because it's it's all about the guidance.
I didn't get to hear that part of the discussion, But, um, I, knowing his history, I'm sure I can figure out, you know, I think I could read between the lines.It does tend to work, but not every dip ultimately proves to be the buying opportunity.That's why I'm still looking to see if the carry trade has more to go.
So let's let's take a let's take a deep breath If this you know I'm not This doesn't mean, you know, go all in because we fell because the because I think we did fall for some pretty good reasons.But if you've been doing OK and you weren't really flipped out by what happened yesterday, it was more of a curiosity.The expectation on the street was an adjusted loss per share of 120.So a touch light there does affirm its full year.
As you're aware, there is a little bit of an increasing narrative and concern being expressed on the part of economists and market participants about the US economy and whether we are seeing a sharper slowdown or even potentially recession. And so we see in our medicines, which are innovative medicines first in class and or best in class medicines for patients with really serious illnesses.Peter, I know that, uh, you're gonna hate this because everyone is looking at Amgen for the near term and for merit.
Let's talk about, you know, chronic kidney disease that appears to be efficaciously treated by these drugs.So we looking forward to moving the medicine forward.And those obesity related conditions are creating opportunities that, you know, we'd like to participate in this global health crisis and and we're investing in the business to do that.
As far as I can tell, right, They give guidance on revenue, so I Yeah, so, I. I don't know how that fits into the equation, if you will, but, you know S, MC I remember Super Micro makes the cooling systems that go into the data centres that we know are going gangbusters right now. That's according to analysts, and this coming after rival Uber reported earnings earlier today, it did beat on the top and bottom line.
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