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 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.