May 8-12, 2023 Market Recap

May 12, 2023

The broad market took a breather today, the major US stock benchmark/ ETFs' closed in the red today, as the market starts to worry about US Debt Ceiling Limit talks to extend next week which heightens the anxiety of potential US Debt Default.

The Dow Jones Industrial sector has printed a 5th-day losing streak performance this week.  The Nasdaq took a pause on the rally today.

• SPY  -.13%  DIA -.04%  QQQ -.36%

Notable Movers Today:

• FSLR +26.28%  after announcing EVOLAR acquisition First Solar Acquires EVOLAR for $38M, a Leading European Thin Film Company

Technical Breakouts This Week:

May 11, 2023

The Technology sector continued to rally following yesterday's strong performance.

• QQQ +.33%  SPY -.17%  DIA -.64%

Despite rally the meager moves of the US Major Benchmarks, there have been multiple rallies or technical breakouts on equities, specifically in the Technology sector and some biotechs' names.

• GOOGL +4.31%  AMZN +1.81%  NFLX +2.78%  TSLA +2.10%  

Notable Earnings Mover:   DIS -8.73%

DIS earnings reaction 

May 10, 2023

In Today's trading session the Technology sector has exhibited strong performance, outperforming the S&P500, and Dow Jones Industrial, amongst the 3 major benchmarks, the Dow Jones is the weakest.

•  QQQ +1.09%  SPY +.47%  DIA -.08%

The US Core CPI for April rose by 4.9% below forecast, this is the first sub-5 % reading in two years Consumer Price Index

Notable Stock Movers:

• GOOGL +4.10%  AMZN +3.35%  SNOW +4.99%   ILMN +7.84%

 May 9, 2023

The US equities major  Benchmark/ ETFs performed timidly on Tuesday's trading session, this mark as the second timid day, as investors wait for the CPI print which is due tomorrow, and the highly dramatic DEBT ceiling stand-off in DC.

• SPY -.44%  DIA -.13%  QQQ -.63%

PLTR notable earnings mover today

SEDG, ENPH, JKS, CSIQ, FSLR & TAN - continues to search for the bottom price
.

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%