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Friday's Market Minute: S&P Futures Flash Potential Trend Change Warnings
Friday, August 4, 2023 - 11:32am | 380S&P 500 futures have seen three straight days of losses after topping out at 4,617.25 in terms of closing prices, and had fallen about -2% from that point as of yesterday’s close. Recent price action for the /ES recently is in the shape of a rising wedge, with a steeper trendline going...
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Amazon And Apple Awaited: Risk-Off Trading Continues Ahead Of Earnings, Friday Jobs Data
Thursday, August 3, 2023 - 10:57am | 2040(Thursday market open) After an interruption due to Fitch Ratings’ surprise downgrade of U.S. credit, Wall Street returns to its regularly scheduled programming with Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) reporting earnings this afternoon. Investors will...
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Thursday's Market Minute: Pre-Earnings Technical Analysis: AMZN & AAPL
Thursday, August 3, 2023 - 10:43am | 370Two giant stocks report earnings in today’s postmarket; Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN). Both stocks are significantly up from their yearly lows, but neither fared particularly well yesterday, with Apple closing down -1.54% and Amazon falling -2.64%. Of the two names, Apple...
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Risk-Off Mood Pervades Following Surprise Downgrade Of U.S. Treasuries By Fitch Ratings
Wednesday, August 2, 2023 - 10:24am | 4400(Wednesday market open) A defensive, “risk-off” mood gripped global markets early Wednesday after Fitch Ratings’ surprise downgrade of its rating for U.S. Treasuries to AA+ from AAA. The move sparked a rapid retreat from riskier assets, but the bond market saw little initial...
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Wednesday's Market Minute: If Rates Break Out, Bitcoin's Most At Risk
Wednesday, August 2, 2023 - 10:17am | 480One key reason why stocks have been so strong is because they’re just not that expensive. It’s true. It’s a brutal pill for bears to swallow, but the most important one: the S&P 500, even after a shocking 27% comeback since the October low, is significantly cheaper than it was...
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Tuesday's Market Minute: Analyzing Uber Earnings
Tuesday, August 1, 2023 - 1:43pm | 464Uber Technologies (NYSE: UBER) is trading higher premarket after reporting 2Q earnings. The company missed FactSet revenue estimates but reported a surprise positive EPS. Uber’s gross bookings have seen improvement since even before the pandemic – this quarter’s doubled the same...
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Mixed Brew: Pfizer, Merck Earnings Head Opposite Ways, But Uber And Caterpillar Slug Line Drives
Tuesday, August 1, 2023 - 1:36pm | 2355(Tuesday market open) The new month starts with stocks tinted red, but this week’s main events are just getting underway. A rise in Treasury yields might have investors nervous early Tuesday as the 10-year yield popped back above 4% ahead of key U.S. economic data. Last week’s...
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Earnings Extravaganza: Another One-Third Of S&P 500 Companies Report This Week, Including Amazon, Apple
Monday, July 31, 2023 - 12:13pm | 2420(Monday market open) It’s “tech week” on Wall Street. No, wait, it’s “pharma week.” Or is it “employment week?” How about all three? Today’s calendar is relatively light, but investors await word from Apple (NASDAQ: AAPL), ...
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Monday's Market Minute: Big Tech Highlights This Week
Monday, July 31, 2023 - 12:03pm | 497Let’s take a market minute to get ahead of what looks like another busy week for investors and traders. First, the focus will remain on companies announcing quarterly results, with Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) at the top of the list of names reporting. We’ll also hear...
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August Outlook: Jackson Hole Beckons For Fed, But Could Events Reprise Last Year's Market Stampede?
Friday, July 28, 2023 - 11:32am | 2230The heat dome that’s settled over much of the country this summer might have you wishing for a trip to the mountains, and that’s exactly what the Federal Reserve gets in August at its approaching Jackson Hole symposium. However, just the words “Jackson Hole” might trigger an...
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Price Pressure Eased In June, Fueling Early Wall Street Gains, But BoJ Rate Policy Move Rattles Market
Friday, July 28, 2023 - 11:27am | 2208(Friday market open) Welcome signs of easing U.S. inflation propelled Wall Street to early gains Friday, but the market remains rattled following a policy tweak earlier from the Bank of Japan (BoJ) and worries about the Federal Reserve potentially tightening further. Today...
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Stocks Begin Day With Strength, Propelled By Solid Earnings And Economic Data Including GDP
Thursday, July 27, 2023 - 1:51pm | 2093(Thursday market open) Major indexes turned green in premarket trading on Thursday following solid earnings from Meta Platforms (NASDAQ: META) and McDonald’s (NYSE: MCD), accompanied by a host of price target increases from Wall Street analysts. The Dow Jones...
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Thursday's Market Minute: Meta Platforms (META) Surges +10% After Earnings Beat
Thursday, July 27, 2023 - 1:45pm | 372Meta Platforms (NASDAQ: META) is on the move after reporting earnings yesterday afternoon, with shares rising more than +10% in premarket trading. Revenue for the second quarter came in at $32B vs. the Street’s estimate of $31.06B, while EPS also beat at $2.98 vs. expectations for $2.92. Ad...
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Drama Lacking: Fed Seen Hiking Rates Later Today As Investors Digest Microsoft, Alphabet Results
Wednesday, July 26, 2023 - 2:29pm | 2305(Wednesday market open) The Federal Reserve wraps up its July meeting today, and the market widely expects a quarter-point rate increase—and wonders what’s next. There’s debate about whether this is the final hike or if the economy’s summer sizzle might warrant another...
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Wednesday's Market Minute: So Far, So Good
Wednesday, July 26, 2023 - 2:03pm | 417The bullish story in stocks the past 9 months can be broken into three parts: 1) a peak in inflation that set the stage for softer Fed policy, 2) Chat-GPT's AI breakthrough supporting the outlook for tech companies, and 3) better-than-expected economic data concurrent with disinflation trends....