Red Fridays Bring Green Mondays, Right? | Morning Moovers
Morning mooers! It is Monday, April 22th, the market is open and green for now, after a rough Friday pullback.
My name is Kevin Travers; it is sunny but chilly here in Jersey City. Here are your morning moovers today:
MOOVERS
$NVIDIA (NVDA.US)$ was the highest gainer on the S&P and Nsadaq 100 at open, climbing back 2% after a 10% drop last week.
$Salesforce (CRM.US)$ and$Informatica (INFA.US)$ were trending, as one dropped more than 8%, and the other brought the S&P 500 higher after the Wall Street Journal reported that Salesforce is no longer talking with Informatica after they failed to reach a purchase agreement.
$Tesla (TSLA.US)$ fell another 4% after the company announced yet another price cut, this time on the Models Y, X, and S.
$Verizon (VZ.US)$was lower by 3% on Monday mornings after the firm's morning earnings report was mixed.
SECTORS
Investors will watch the earnings reports from Mag Seven and Big Tech companies Tesla, Meta, Google, and Microsoft this week.
Semiconductors as an industry climbed back about +1% Monday morning, but down 10% for the past seven trading sessions. The sector dropped all week, after $ASML Holding (ASML.US)$ and $Taiwan Semiconductor (TSM.US)$ reported earnings with lower demand or forward expectations than investors wanted.
RECAP
Overall, indexes opened in the green after the Friday AI stock pullback.
The $S&P 500 Index traded +0.30% at the time of writing, 10:30 AM EST. The $Dow Jones Industrial Average climbed about 0.24%, and the $Nasdaq Composite Index climbed 0.24%.
Last week, market indexes pulled back hard. The S&P 500 and Nasdaq are still lower by about -2% and -4% compared to their starting prices last Monday.
MACRO
$U.S. 2-Year Treasury Notes Yield(US2Y.BD$ fell to 4.97 this morning after hitting 5% briefly last week, $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed slightly to 4.63.
This week, investors can expect macroeconomic data that may guide the market. The PMI will be released on Tuesday, Q1 GDP updates will be released on Thursday, and the PCE, the Fed's favorite inflation indicator, will be released on Friday. Last week, Fed's Powel warned rates would have to stay in place until the Fed was sure of the results, and that next year we would "know more."
On Friday, MAXYEOKINGsaid that the lower earnings reports and lower demand was plunging Semicondusctors, but that he belibed their fundemental value was still good, and lower prices might be a time to buy.
Mooers, what are you watching today? Answer below and I may feature your insite next time!
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
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