The stocks tend to decline during the day and during the week
The anticipation of another big round of earnings reports gripped Wall Street this week, dictating much of the market move and keeping investors on the edge of their seats. The mood on Monday was mostly poor. The three main indices held close to breakeven for most of the day, although the Nasdaq and S&P 500 managed to break record deals, supported by optimistic Covid-19 comments by Dr. Anthony Fauci. However, fears of inflation kept the Dow in check, while India’s dire coronavirus situation also made headlines. Trading on Tuesday was also a bit subdued, although the day was full record breaking economic data and investors looked to a flurry of Tech revenue When the session is over, put on report.
Technical reports and Remarks Fed chairman Jerome Powell shifted markets down on Wednesday. The central bank’s decision to keep rates near zero was overshadowed by Powell’s claims that the economic recovery was still “uneven and nowhere near complete”. The Dow turned volatile on Thursday but finally roared to one three-digit popThanks to impressive quarterly reports from Apple (AAPL) and Facebook (FB). However, this increase turned out to be short-lived and today Stocks will head for further losses both day and week.
The semiconductor sector calculates the result confessionally
It’s been a busy week in the proverbial confession booth. One sector that recorded a lot of airtime was the semiconductor room, and one chip inventory that got a positive response after winning was Qalcomm (QCOM). The company’s earnings and revenue spike in the second quarter gave equity a significant boost and pulled in some bull notes. Analysts were also able to quickly prepare for a leap in profits from Advanced Micro Devices (AMD). The security Made at least seven price target increases despite Summit Insights Group downgrading the stock to a “hold”. Skyworks Solutions (SWKS) was not as lucky as its industry colleagues. The stock has deteriorated fairly sharply during today’s trading despite a jump in profit and multiple bull marks, likely due to a disappointing forecast.
Big Tech and Earnings Season: the good, the bad and the ugly
Tech stocks ruled the week this week, and Wall Street flipped through critical updates and earnings reports from social media bigwigs and e-commerce titans. Apple (AAPL) was, of course, on the radar, and after that it received a lot of attention from options traders and analysts optimistic result report and positive buyback news drove the stock higher during yesterday’s trading. However, earlier in the week equity was flat as investors pondered recent developments in the company economic investment plans.
Amazon (AMZN) caused a sensation after his report on the results quarterly strike was not enough to raise stock futures on Friday morning. Meanwhile, two social media giants, Facebook (FB) and Twitter (TWTR), announced their first quarter results and generated very different reactions from retailers. Indeed, the former grabbed one new record high, according to his announcement, while the latter is dramatically lower, drained of User growth slowdown concerns.
Earning season to reach a fever level in the first week of May
The first week of May will get investors straight up to the height of profitable season with reports from Chegg (CHGG), Etsy (ETSY), Cloudflare (NET), Fastly (FSLY), Lyft (LYFT) and Pfizer (PFE) all on tap. Traders will also pay special attention to trade deficit data, a new ADP employment report, Markit Indices (PMI) for Markit manufacturing and service purchases, unemployment claims and non-farm payrolls.
In the meantime, traders can check out the latest Monday morning outlook in which Schaeffer’s Senior Vice President of Research, Todd Salamone, analyzes some of the articles important storylines that moves the markets at the end of April. Schaeffer’s Senior Quantitative Analyst Rocky White also looks like a white man old investor trope under a microscope to see if the catchphrase is true.