Stock Market Recap - January 8- 12, 2024

 1 Corinthian 9:25  And every man that striveth for the mastery is temperate in all things. Now they do it to obtain a corruptible crown; but we an incorruptible.

January 12, 2024

Notable Earnings Reported:

• C +1.04%
• BAC -1.06%,  WFC -3.34%,  JPM -.73% (from green to red reaction, share price at record high) 

Stocks that are in Record or 52 Weeks High:

• REGN,  LLY,  GSK,  COST,  MSFT,  META,  MELI,  JPM

January 11, 2024

The stock market is back in a "hangover" mode, following massive gains in 2023.  The US major indexes tepidly move.

• SPY -.04%
• DIA  +.06%
• QQQ +.21%

Macro News:   December CPI & Weekly Initial Jobless Claims

• Consumer price index rises 0.3% in December
• Shelter accounts for more than half of rise in CPI
• CPI increases 3.4% on year-on-year basis
• Core CPI gains 0.3%; up 3.9% on year-on-year basis
• Weekly jobless claims fall 1,000 to 202,000

Stocks Trading at 52 weeks high:

Stocks on Downtrend: 

• Post-SEC approval of GBTCas Bitcoin spot ETF, the cryptos blockchain-related stocks have exhibited "sell- the news reaction" such as MSTR, MARA, RIOT, & MSTR.
• The EV sectors have been in a sell signal since the beginning of 2024, with weakness attributable to the loss of TAX- credit.

January 10, 2024

The U.S. equities bounce back from yesterday's mild sell-off, and the notable sector leader is once again the Technology stocks led by: 

• META +3.65%   NVDA +2.28%  AMZN +1.56%

Market Movers:

SEC approves GBTC as Bitcoin spot ETF

PANW & MELI breakout

January 9, 2024

The equity market slid back to red territory following yesterday's bounce.

• SPY -.15%
• DIA -.44%
• QQQ  +.20%

Market Movers:

January 8, 2024

The U.S. equities snap from a losing streak since the beginning of the trading year.

• DIA +.59%
• QQQ +2.07%
• SPY +1.43%

Today, an FOMC Member - Atlanta's Federal Reserve President Bostic reiterates in his talk that the Central Banks inflation target remains above their 2% target and that he is biased towards a tighter monetary policy.  Federal Reserve President Bostic

Notable Mover:

• NVDA +6.43% or at 522.53 a new record high as it unveils 3 new desktop graphic chips NVDA unveils 3 chips CES 2024

May 15- 19, 2023 Market Recap - The Poor & The Rich Sector in the Market

May 19, 2023

It is another quiet move on the US major benchmarks.

• QQQ -.23%  SPY -.15%  DIA -.34%

However, the retail sector continues to slump following FL's dismal earnings report.

FL earnings reaction

DE earnings reaction

• Sympathy moves from FL's dismal earnings report:

May 18, 2023

The technology sector/ stocks continue to outperform in the market.  

• QQQ +1.86%  SPY +.96%  DIA  +.43%

US Jobless claims fell 22k to 242k in the week ending May 13  May 13 Jobless Claims

Netflix reveals 5 million daily active user on its ADS plan

May 17, 2023

The US stock market rallied hard today.  The top performers continue to be the Technology stocks.

• DIA +1.29%   SPY +1.21%  QQQ +1.21%

 May 16, 2023

The stock market dropped as the  Debt Ceiling anxiety intensify, despite of the assurance of House Leader McCarthy's reassurance that they are hopeful that a resolution will be reached  by the weekend Biden-Mccarthy-meet-us-debt-ceiling-talks/

The Dow Jones continues to be the weakest among the top 3 major US benchmarks/ETFs.

• SPY -.67%  DIA -1.02%  QQQ +.11%

Notable Movers:

RH sell-off is attributable to Berkshire exiting position

May 15, 2023

https://www.investors.com/news/technology/srpt-stock-halted-as-fda-panelists-discuss-highly-anticipated-gene-therapy/

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
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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%