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/

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%

 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%  

Stocks that are trading at 6 months high or 52-week high:   

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

Notable stock mover:  AI -26.34% after Kerrisdale Capital alleged that the AI company has committed accounting fraud to inflate its income metrics  Kerrisdale Capital open letter to C3.ai & SEC

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%