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
.

May 1- 5, 2023 Market Recap

May 5, 2023

Thanks to Apple's better-than-expected earnings result, the US stock market has broken the 4 trading days losing streak.  The indexes benchmark / ETFs rallies 

• DIA +1.63%  QQQ +2.13%  SPY +1.85%

DIA is weaker compared to SPY & QQQ, see the chart above *  DIA has succumbed at 20dma
 resistance

Notable Earnings Movers:

SHOP 2 days massive rally

REGN sell of reaction post earnings

SEDG  lost half of its intraday gain/ rally.

May 4, 2023

It is another red day in the US equities, this is the 4th consecutive trading day of red performance.  The Dow Jones has tested the 50-day moving average support today.  

The weekly performance Dow Jones -2.85%  SPX -2.60%.

The ECB announces a 25bps hike of interest rate  ECB increases interest rate by .25bps , following the US Federal Reserve hike yesterday.  

The US weekly jobless claim increased of 13,000 to 242,000 Weekly Jobless claims

SEDG earnings reaction

SHOP earnings reaction

 May 3, 2023

The US equities turn lower post-FOMC announcement of a .25bps hike on interest rate Fed Powell hike .25 bps. The US stock benchmark/ ETFs closed in red territory again on a 3rd-day streak since the beginning of the month of May.

• SPY -.69%  DIA -.82%  QQQ -.65%

Notable stock movers:

• LLY +6.68% [trading at record high] after announcing its  Donanemab Significantly Slowed Cognitive and Functional Decline in Phase 3 Study of Early Alzheimer's Disease  https://investor.lilly.com/news

Notable Market Catalyst for the week:

• SEDG earnings after the bell, this is a significant event for the solar industry, as the behemoth FSLR & ENPH cratered last week after announcing its earnings for Q1 '23.
• Thursday- ECB rate announcement, US Jobless claim, & AAPL earnings release.

May 2, 203

The US stock market slumped today, on a technical basis, the US benchmark/ETFs printed a technical failed breakout, IF, it continues to decline below the 50-day moving average.

• SPY -1.12%  DIA -1.03%  QQQ -.87%

Regional Banks' Turmoil Continues:

• PACW -27.78% 

The solar industry continues to crater:

• FSLR -2.46%  SEDG -4.49%  ENPH -4.80%

May 1, 2023

The US stock market benchmark/ ETFs took a slight pullback today:

• SPY -.10%  DIA -.20% QQQ -.11%

Notable stock  movers:

• AMZN -3.22% 2nd trading day slump, following the mean reversal of +12% to -3.98% closing price last Friday.
• ENPH -2.20%  FSLR -.95% continuation sell-off following last week's dismal earnings report-  SEDG -3.37% selling off in sympathy to solar stock sell-off, SEDG sets to report on May 3.
• XOM -3.10% - a 3% pullback on some stocks may be nothing, but it is vast for a corporation like XOM, the weakness is due to Goldman Sachs's downgrade to Neutral from Buy.

JP Morgan acquired the beleaguered bank FRC JPM acquired First Republic Bank. 

JPM +2.14%. 

The catalyst for the market this week :

• Wednesday - FOMC
• AAPL - sets to report on May 4, after the bell.

 

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%