We are B-Back? | Market Moovers
Morning mooers! It is Tuesday, April 23, the market is open and climbing higher after the first quarter results started pouring in from some heavy hitters.
My name is Kevin Travers; it is a beautiful day in Jersey City, and the moomoo office is busteling. Here are your morning moovers today:
MOOVERS
$General Motors (GM.US)$ climbed nearly 5% Tuesday after its morning earnings release lifted its profit outlook on strong gas truck demand.
$General Electric (GE.US)$ Aerospace climbed 4% posted better-than-expected results for 1Q, which included the performance of the power business that it officially separated from days after the quarter ended.
$PepsiCo (PEP.US)$ was the largest decliner on the Nasdaq 100, down 2%, after its first quarter earnings beat expectations but its forward projections looked "uncertain"
SECTORS
Investors are wathcing the biggest of the big report earnings this week. Tesla is the first of the true giants to report, expected after the bell today.
Semiconductors as an industry pulled back about 2% Monday, and are climbing a further 2% Tuesday morning. $Super Micro Computer was leading the pack, as the AI industry rebounds. SMCI was the largest gainer on the S&P 500, though not counted within the Semi sector as recognized by moomoo.
The "WallStreetBets" sector climbed 4%, as a healthy dose of meme stocks climbed. $Marathon Digital led the pack +10%, followed by CleanSpark and Riot Platforms.
RECAP
Indexes opened in the green Tuesday with a deluge of Q1 earnings finally underway.
The $S&P 500 Index traded +0.97% at the time of writing. The$Dow Jones Industrial Average climbed about 0.45%, and the $Nasdaq Composite Index climbed 1.35%.
Last week, market indexes pulled back hard. The S&P 500 and Nasdaq are still lower by about -0.22% and -1.67% compared to their starting prices last Monday.
MACRO
$U.S. 2-Year Treasury Notes Yield fell to 4.93 this morning after hitting 5% briefly last week, $U.S. 10-Year Treasury Notes Yield climbed slightly to 4.58.
The S&P Manufacturing PMI came out Tuesday morning at 49.9 compared to estimates of 52, a reading below 50 points tends to indicate a contraction in the activity level of purchasing managers in the manufacturing sector. Investors can expect further macro numbers this week: 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."
User I Am 102927471 said that after the rain comes the rainbow, or so they say?
Mooers, what do you think, are the good times here to stay? What are you watching today?
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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THEWIZARD : No sir. I don't think good times here to stay yet.
$E-mini S&P 500 Futures(JUN4) (ESmain.US)$ .... Looks ripe for shorts around 5105 ...
Let's watch the eventual result.
#DYODD#
#All Trade Carry Risks#
THEWIZARD : It's now at 5111 ish ... About 6 points above my shorts. I'll wait awhile more and stop out if it goes above 5125.
#DYODD#
#All Trade Carry Risks#
THEWIZARD THEWIZARD: 5105 now ... Going to just square it off first. Will decide again at the close.