WED, JUN 21, 2023

Tomorrow's Top CNBC Stories Tonight

Dollar Tree's big day... and very modest 2023

Dollar Tree led the S&P 500 after issuing upbeat long-term guidance at its investor day. Today’s outlook and stock gains follow the retailer’s big drop in May on the heels of a weak quarterly report. The stock has underperformed the S&P 500 in 2023, basically flat year to date, but that’s a far cry from Dollar General, which is down 32% this year.

A real estate stock that's outperforming

Amid plenty of concern over the state of commercial real estate, CoStar Group is proving resilient. The real estate data and analytics firm (which operates brands like Apartments.com and LoopNet) is up 10% in June and trading at its highest level since October 2021. It’s one of the only stocks in the S&P 500 real estate sector with gains for the year, up over 13% so far.

SMH is on its way to a rough week

Chips continued pulling back today, with Intel down 6% after updating some of its chip manufacturing plans. Rival giants AMD and Qualcomm were down 5.7% and 3.4%, respectively. Nvidia is the lone VanEck Semiconductor ETF (SMH) constituent holding on to narrow gains for the week as the ETF heads for its biggest weekly decline since March 3.

American CEOs meet with India's Prime Minister Modi Thursday in Washington

The iShares India 50 ETF (INDY) tracking India’s top 50 stocks is up just 4% in 2023.
The iShares MSCI India ETF (INDA) is up 3.2% in 2023.
Seema Mody will be at the White House covering the story Thursday.
While the story is complicated, India is one place American CEOs might look to for growth amid fears of cooling business ties with China. It’s unclear if that theory will become realized as the relationship between China and the U.S. changes day to day. But as far as U.S. money being invested in Chinese ETFs, one major investment firm reports it’s in the $1.1 billion-dollar range so far this year, versus $413 million dollars going from the U.S. to Indian ETFs so far in 2023

The bitcoiners

Bitcoin is back to a mid-April high, jumping above the $30,000 mark.
The Grayscale Digital Large Cap Fund (GDLC) jumped almost 12% today, but is still 50% from the 52-week high hit in August 2022.
Galaxy Digital Holdings are 48% from the 52-week high, also in August of last year.
Cleanspark was up 8.4% today. It’s 30% from the 52-week high.
Marathon Digital was up 4% today. It is 35% from the 52-week high.
MicroStrategy, up 5.7% today, just 8.5% from a 52-week high.

Oil services

Gina Francolla from CNBC's data team highlighted that the VanEck Oil Services ETF (OIH) is up nearly 12% in June.
Most of the components are up double digits so far in June. They are led by Cactus, up 28% this month; Patterson-UTI, up 21%; and Nabors, up 21%. Oceaneering International is up 18% in June, and ProPetro has a gain of nearly 18%.
Laggards this month: Valaris, Dril-Quip and Noble.
Oil is up 6.5% in June.