April 24- 28, 2023 Market Recap

April 28, 2023

 The stock market had another strong performance day, following yesterday's massive rally buoyed by strong earings from technology stocks. 

The 2 days back to back rally has pushed the USstock  benchmark/ETFs back above the 20day moving average- SPY +.85%  DIA +.84%  QQQ +.69%

Notable Earnings movers:

• AMZN -3.98%, AMZN +12%  as the immediate earnings reaction post market hours, the gain has been reversed  as it reports declining sales on cloud and computing services .
• FSLR -9.09% another solar stocks down on weak earnings report, yesterday solar stock loser was ENPH -25.73%

April 27, 2023

The US equities bounced back from 2 days of selling in the market, and the gain of  Nasdaq/ QQQ +2.72% has erased the 2 days decline plus some gains, the strength is attributable to META +13.93% strong earnings following MSFT +3.20% & GOOGL +3.74% strong earning reports early this week.

There's a broad rally across equities today, the top performers are from Technology stocks, Bitcoin +4% causing blockchains stocks to rally:

• MSTR +6.40%  MARA +6.34%  RIOT +8.52%

April 26, 2023

Today's market session marked the second streak of weakness in the US stock  ETFs/ Benchmark and most equities.  

Despite the strong earnings reported by:  MSFT +7.24%  CMG +12.91% GOOGL -.13% the equities failed to hold the opening rally or day gains, the US benchmarks attempted to rally but it gave up most of their gains by the end of the trading day  SPY -.42%  DIA -.71%  QQQ +.61%, per daily technical chart of the SPY, DIA, & QQQ - todays' session marked the second day of losing the 20 daily moving average support, however, it remains to trade above its 50-day & 200-day moving average.

Notable Earnings Mover:

• CMG +12.91%  MSFT +7.24%  [ in lieu of MSFT strong earnings these stock related to AI & data cloud has also moved - SNOW +8.55%  DDOG +10.50%
• ENPH -25.73%  [ in lieu of ENPH's dismal earnings SEDG -10.43% sympathy move]

CMG sets new record high post-earnings result with a high trading volume

 April 25, 2023

There is a broad selling in the market today, the US stock ETFs/ benchmark has declined over 1% - SPY -1.59%  DIA -1.01%  QQQ -1.89% .  The selling is in lieu to a number of concerns in the economy:

• The Conference Board U.S. Apr consumer confidence index fell -2.7 to a 9-month low of 101.3, weaker than expectations of 104.0. April 2023 consumer confidence reading
• The U.S. Apr Richmond Fed manufacturing survey fell -5 to -10, weaker than expectations of -8.  Richmond Fed April manufacturing data

The Tech stocks are today's biggest loser

• AMZN -3.43%  AAPL -.94%  [MSFT -2.25%  GOOGL -2% ahead of earnings]
•  FB -2.46%  SNOW -4.93% NOW -6.49%

Notable earnings for the week:

• 4/26  META BA
• 4/27  CAT  AMZN MA

April 24, 2023

It's another quiet trading session in the US market, most of the broad sector in the US equity had a minor sell-off today.  The US ETFs/ Benchmarks :

•  SPY +.10%  DIA +.19%  QQQ -.21%

This is a huge week as the giant corporations are set to report earnings this week:

• 4/25  MSFT  GOOGL CMG  V
• 4/26  META BA
• 4/27  CAT  AMZN MA

Notable Losers:

• COIN -7.27% 

Trading at 52 weeks high/ record high:

• XOM +1.89%  LLY -.49%

April 17- 21, 2023 Stock market notable movements

APRIL 21, 2023

It's another quiet trading session in the US market as market participants focus on corporate earnings. The stock ETFs/ benchmarks eeked a small gain - SPY +.08%  DIA +.10%  QQQ +.10%.

Stocks trading at 6 month high or at 52 weeks high:

• CMG +.09%  LLY +2.78%  

APRIL 20, 2023

The US stock market took a breather today, despite the dismal earnings, TSLA -9.75%

The stock ETF/ benchmark has avoided the full percentage decline, SPY -.55%  DIA -.31%  QQQ -.76%, these ETFs closed at or above their 20 & 50-day moving average support.

Notable earnings mover:

• TSLA -9.75% - closes near day low
• FFIV -2.11% this has exhibit buy the dip earnings price reaction
• IBM +.03%- the gap rally of nearly +4% day high has been sold off.

April 19,2023

Today marks day 4 of a quiet trading session in the US market, whereas the market index moved less than a full percentage.  SPY -.02%  DIA -.24%  QQQ -.05%.  

Corporate earnings news:

• NFLX -3.17%  post-earnings result.
• TSLA -8.16%  after-hours, post Q1 '23 earnings report- Q1 revenue $23.3B, EPS 73c,                          adj. EPS 85c, gross margin 19.3%
• UAL +7.50%  post-earnings result from Q1 adjusted loss $0.63 per share, revenue                                       $11.43B   reiterated 2023 adjusted EPS target between $10- $12,                           analyst consensus $8.68

Tesla on daily chart, beforeQ1 '23  earnings report

Stocks trading at 6 month high or at 52 weeks high:

• AAPL +.70%  CMG +1.49%  

Bitcoin pulled back from $30l levels, with the price hovering around $28.8k- $29.2k.  Stocks trading at 6 month high or at 52 weeks high:

 April 18, 2023

It's another quiet day in the US equities, DIA -.04%  QQQ +.01%  SPY +.07%.  Notable earnings for the week:

• 4/18 - NFLX  after market close
• 4/19 -  MS, TSLA, AA, FFIV, 

Stocks trading at 6 month high or at 52 weeks high:

• AAPL +.75%, CMG +.19%, BKNG +.77%, NVDA +2.46%

Bullish stocks:

• MARA +2.01%  RIOT +4.02%  MSTR +5.37% - are today's performers, note that these names follow Bitcoin price movement, Bitcoin is trading at 30,200 which appears as the current overhead resistance. 

April 17, 2023

It's a Merger & Acquisition Monday for the biotech sector, Merck has announced a private takeout of  RXDX for $200 per share or a $10.8B deal or +70% since last Friday's closing price Prometheus Biosciences announced buyout from Merck. The ETF XBI +4.66% rallied on the news, sending the ETF LABU +13.71% higher.

Biotech winners in lieu of RXDX buyout: 

•  KRTX +8.22%  ITCI +4.93%  SAGE +4.09% ICPT +6.23%  ACAD +7.67%

The US equities breadth for today's trading session was bullish.

• SPY +.36%  DIA +.32%  QQQ +.08% - these closed the trading session at their resistance level.

Stocks trading at 6 month high or at 52 weeks high:

• CMG +2.11%  FSLR +5.03% NTES +4.49%

April 10- 14, 2023 Stock Market Recap: Notable movers, winners, & losers

April 14, 2023

The big banks inaugurated the Q1 '23 earnings season:

•  JPM +7.55%  JPM investor relation WFC -.05%  WFC investor relation

It's a timid Friday in the stock market, no volatility or big movers for the mega caps stocks.  

Notable earnings next week:  NFLX, TSLA, BAC, GS, & MS.

April 13, 2023

The weekly  U.S. Jobless claims came in at 239k vs: 232k expectations, continuing claims dropped to 1.810 million in the week ending April 1, down from 1.823 million in the prior week. US jobless claims rises .  The stock market had a positive reaction to the data, a broad rally in the equities, notably the technology giants stocks soared;  AAPL +3.41%  AMZN +4.67%  GOOGL +2.67%  META +2.97%

The stock index /ETF rallies as well, pushing to a technical breakout signal:

• DIA +1.12%  SPY +1.33%  QQQ +1.96%

Notable technical upside breakouts:

• RIOT +9.31%  MARA +15.78%  MSTR +5.54% - these names moves with Bitcoin*

 April 12, 2023

The index had a strong positive reaction after the CPI report for the month of March, however, the intraday +1% rally faded throughout the trading session and ended in red territory, SPY -.41%  QQQ -.88%  DIA -.09%

• The CPI inflation rate eased to 5.0%, down from 6% in February and below the 5.2% forecasts. The consumer price index rose just 0.1% on the month, vs. forecasts of 0.3%.
• The core CPI, excluding food and energy, rose 0.4% vs. February levels, matching expectations. The annual core inflation rate edged up to 5.6%, matching forecasts. The core CPI inflation rate peaked at a 40-year-high 6.6% in September.  March 2023 CPI result
  

Notable losers: [ decline of >5%*]

• BABA -5.93% The sell-off is due to Softbank reports that its selling most of its BABA shares SoftBank selling Alibaba shares
• SQ -5.54% 

Notable intraday reversal from day high to red/ giving up all gains:

• TSLA -3.35%  MELI -2.26% 
• SHOP 1.16%  

April 11, 2023

A quiet day for the stock market ahead of the March CPI report tomorrow

•  SPY + .03%  DIA +.28%  QQQ -.64%

Notable movers:

• SNOW -5.81%  AMZN -2.20%
• RIOT +17.01%  MARA +12.42%  MSTR 6.26% - these names had a 2-day streak of a rally as Bitcoin trades above $30k 

The price action in the market today is confirming the bullish technical signal from yesterday's stock index performance.  The upcoming catalyst in the market is the Q1 of 2023 Corporate earnings report to commence later this Friday, the banking sector will inaugurate the earnings season:

• April 14- JPM  C & WFC.
• April 18- BAC & GS
• April 19- MS 

April 10, 2023

The stock index exhibited strong performance today, closing at a day high after opening at a lower price point.  This kind of price movement in the stock or index price intraday action is deemed a bullish technical signal.

The renewable or green energy stocks performed strongly today as well following last week's sell-off, TSLA -.30% closing near the day high, the day low is at -4.84%,  FSLR +3.68%  JKS +5.92%  ENPH +2.51%  CSIQ +2.30%

Winners:  MU +8.04%  COIN +7.63%  MARA +14.04%  RIOT +15.50%  GBTC +5.74%

Notable news: 

•  AAPL -1.60% Apple MAC shipments are down 40% year over year
• Japan appoints a new Chief on its Central Bank https://www.reuters.com/world/asia-pacific/with-japans-new-central-bank-boss-kishida-bids-farewell-abenomics-2023-02-16/

 Stock market recap April 3-6, 2023

April 6, 2023

It's a short week for the market in observance of Good Friday.  Mixed performance in various sectors of the stock market, notably BABA +4.25% held up its gain from last week's rally, and the stock index closed at strong levels above its daily technical resistance 

SPY +.39%  QQQ +.67%  DIA +.02%

Losers of the week: [ based on weekly performance of > 5% decline*]

• TSLA -10.80%  FSLR -5.97%  ENPH -9.17%  SEDG -7.80%  JKS -8.02%  QS -10.88%
• ABNB -11.80%  MELI -5.54%

Winners of the week:  [ based on weekly performance of >5% or trading at 6 months or at 52 weeks high *]

• GOOGL +4.52%  MSFT +1.14% META +1.96% BABA +.55%
• XOM +4.92%  OIL +5.63% 

April 4, 2023

The 4-day green streak on the index has come to a halt, with a slight pullback on:

•  SPY -.55%  DIA -.59%  QQQ -.34%  

Stocks that are trading at 6 months high or 52-week high:   

• CMG +1%  AAPL -.32%  META +.77%  MSFT -.02%  BKNG -1.01%  ULTA -.91%  SPOT -1.14%

Notable stock mover:  AI -26.34% after Kerrisdale Capital alleged that the AI company has committed accounting fraud to inflate its income metrics  Kerrisdale Capital open letter to C3.ai & SEC

Michael Wilson of Morgan Stanley says that the rally on technology stock is overdone and warns that it will return to new lows  Morgan Stanley Analyst warns of technology stock rally

April 3, 2023

The stock market had a mixed reaction as the second quarter of 2023 began, notable news over the weekend - Saudi Arabia & OPEC announced further oil output cuts of around 1.16 million barrels per day, OPEC & Saudi Arabia announces oil cuts production this sent oil/ energy stocks higher. USO +5.76%  XOM +5.90%  CVX +4.16% FANG +6.85%

Tesla -6.12% after reporting a record number of car delivery for the first quarter of 2023 of 422,875, up 4% from the previous quarter, the stock price slumped as concern on profit margin as Tesla has recently cut its prices on its EV cars.  Tesla Q1 2023 Car delivery number

Index performance: DIA +.99%  QQQ -.24%  SPY +.38%

Stocks Trading at 6 months or 52 weeks high:  MSFT -.37%  AAPL +.77%  NVDA +.68%  META +.53%  BKNG +.48%  ULTA +1.01%  SPOT +2.11%  WYNN +1.27%  

 3-28-03

Market Movers:

• BABA +14.26%   BIDU +4.73% NTES +2.65% - notable strength on BABA after announcing it will overhaul its business operations by splitting it into six business groups [- Cloud Intelligence Group, TaoBao Tmall Commerce Group, Its Local Services, Cainiao Smart logistics group, Global Digital Commerce group, and Digital Media and Entertainment Group].  The Alibaba business spin has lifted China ADRs stock as well, the move in the BABA business split could be a signal that the regulatory backdrop in China is improving broadly after 2 years of regulatory pressures that sent BABA shares to record 

• 
  

3-29-23

Market Movers:

• LULU +12.72% soared after posting Q4 ‘22 earnings results and giving 2023 Fiscal Year revenue of 9.31B- $9.41B higher than 2022 revenue of $8.1B

Index technical signals bullish pattern, SPY & QQQ has solidly broke above 20, 50, & 200 days moving average, notable for the SPY trading above 400 which has been a tough resistance in the last 3 weeks.  We are one day away from closing the first quarter of 2023.

3-30-23

 The index marked a second-day strong streak performance above resistance, notable the SPY +.59%  & QQQ +.95%  above the 20 & 50 & 200 DMA, the QQQ has closed above its daily resistance. 

BABA +3.46% 3 days streak of a rally at $103.38 per share, strength is attributable to its business splitting into 6 business groups.  MELI +3.42% is another strong performer in the market, the technical settings of BABA & MELI are BUY signals, notable that these 2 are both e-commerce ADRs.  Another strong performer in the market trading at 6 month high  META +1.21%  AAPL +.99% MSFT +1.26%

RH -3.29% another weak performance post Q4 ‘22 earnings result, reports EPS $2.88 vs. $3.44 expectations, sales $772.5M vs. $779.75M; last year same period earnings were $5.66 per share, sales at $902.74

3-31-23

With a bang, the stock market closes on the last day of the year's first quarter!  Notably that the technology sector is back in the lead of the rally -  trading at 6 months high -AAPL +1.56%  MSFT +1.50%  META +1.97%, notable strength on TESLA +6.24% ahead of car number deliveries.