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