Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. Netflix headlined a major earnings call on Tuesday night, with Tesla looming on Wednesday.
X
Equity market gains continued to flatten out, with major indexes once again closing little changed on Tuesday.
netflix (NFLX) was volatile in the mixed result, but intuitive surgery (ISRG) jumped towards the buy point. interactive broker (IBKR) and united airlines (UAL) was also reported.On the other hand, local banks that were hit hard Western Alliance Bancorp (Wall) and Metropolitan Bank Holding (MCB) surged with better returns than had been feared.
chip equipment giant ASML (ASML) reports with a colleague early on Wednesday Ram Research (LRCX) scheduled for late Wednesday.
finally, Tesla (TSLA) reports Wednesday night. Analysts expect Tesla’s earnings to drop significantly amid the steep price cuts. However, Tesla’s stock is approaching multiple buy points.
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dow jones futures today
Dow Jones futures fell 0.15% against fair value. S&P 500 futures and Nasdaq 100 futures fell 0.1%. Netflix stock is a notable component of the S&P 500 and Nasdaq 100, along with ISRG and UAL.
Note that overnight trading on Dow futures or elsewhere does not necessarily lead to actual trading on the next regular stock market session.
Main income
NFLX stock lost part overnight after an initial plunge and then a brief positive turn. Netflix subscriber growth was subdued and slowed significantly compared to Q4. Earnings were up, earnings were up slightly. The streaming TV giant also said it would soon crack down on password sharing in the U.S. and increase buybacks later in the year.The stock rose 0.3% to close at 333.70 and found support at the 50-day line. rice field. After the streaming giant more than doubled from May 2022 to early February 2023, Netflix’s stock is at 349.90 on a handlebar cup basis.
Before the close of business on Tuesday, Netflix announced that it will end its DVD mail-in business on Sept. 29.
ISRG’s stock surged in after-hours action, signaling a possible breakout. Intuitive Surgery revenue and earnings were slightly higher, but Surgery growth increased sharply. Shares were up 0.15% to 269.28 on Tuesday. The Intuitive Surgical stock has a buy point of 285.19 cup base after clearing the initial entry of 259.12 from the too low handle.
UAL’s shares rose slightly after United Airlines’ earnings outstripped views. The stock on Tuesday rose 1.6% to 43.04, and this week he bounced off the 200-day line but is looking to recover from the early March plunge.
IBKR’s share price fell solidly in long-term trading as earnings performed well after Interactive Brokers’ earnings declined. Interactive Brokers showed him up 1.1% to 84.74 on Tuesday, indicating an early entry from the 50-day line. However, IBKR’s stock price is now showing that it is below that critical level.
WAL shares surged overnight after the Phoenix-based bank beat the view, saying deposits were up since the end of March. Western He Alliance shares fell 0.9 percent to 32.51 on Tuesday. The stock is well off his 11-year low of 7.46 in March, but he’s down more than 50% from his early March levels.
MBC’s stock price also surged after hours as the New York City-based bank hit a record high. Core deposits on March 31 increased slightly compared to the end of 2022. Metropolitan Bank shares fell 1.2% to 30.80.
super regional US Bancorp (USB) and Morgan Stanley (MS) is scheduled for early Wednesday.
ASML earnings will be announced early Wednesday morning. ASML shares rose 0.7% to 643.33 on Tuesday, but hit resistance at the 50-day line. According to MarketSmith analysis, the Dutch semiconductor equipment giant’s cup with handle has a buy point of 683.28.
On Monday, ASML shares fell 4.1% in the next report. taiwan semiconductor (TSM) plans to slash its capital spending plans when it reports first-quarter results early on Thursday.
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stock market rally
The stock market rally opened high, offsetting the rally and trading small for most of the session.
The Dow Jones Industrial Average fell slightly in stock market trading on Tuesday. The S&P 500 index he rose 0.1%. The Nasdaq Composite fell slightly. The small-cap Russell 2000 is down 0.4% on him.
US oil prices rose 3 cents to $80.86 a barrel.
The 10-year Treasury yield fell two basis points to 3.57%.
ETFs
Innovator IBD50ETF (FFTY) rose 2% to its highest level since early December. iShares Expanded Tech Software Sector ETF (IGV) increased by 0.2%. VanEck Vectors Semiconductor ETF (SMH) rose 0.45%, with both ASML and LRCX shares held by SMH.
Reflecting stocks with a more speculative story, the ARK Innovation ETF (arc) is down 0.2% and continues to trade just below the 50 and 200 moving averages. ARK Genomics ETF (ARKG) fell 0.9%. TSLA shares continue to be ArcInvest’s number one holding across his ETFs.
SPDR S&P Metals & Mining ETF (XME) increased by 0.6%. US Global Jets (jet) was up 0.9%, with UAL stocks a large member. SPDR S&P Homebuilders ETF (XHB) increased by 1.7%. Energy Select SPDR ETF (XLE) advanced 0.4% and the Health Care Select Sector SPDR Fund (XLV) decreased by 0.7%.
Financial Select SPDR ETF (XLF) fell 0.3%. SPDR S&P Regional Banking ETF (Kure) (which includes WAL shares) fell 2.2% on Tuesday.
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Tesla earnings
Tesla’s revenue is expected to fall 20% year-on-year as the sharp price cuts hit gross margins. Revenue should be up 26% to $23.73 billion for him, but it’s sequential decline compared to the fourth quarter.
Already in April, Tesla cut prices further in the US, Europe and other major markets. Chinese EV rivals have unveiled a slew of new models this week, many of which challenge Tesla’s aging lineup. As such, analysts want to know how low profit margins will be and whether shipments will continue to increase. Investors also want the latest from Tesla Cyber truck, his updated Model 3, and hints about the next-generation platform. Tesla bulls also have high hopes for the company’s energy storage business.
tesla stock
Tesla shares fell 1.5% to 184.31 on Tuesday, continuing to face resistance at the 50-day moving average. The stock has a buy point of 207.89 from the handle cup base formed just below the 200-day moving average line. You may prefer to use it as a TSLA stock entry for His third buy point for Tesla stock is his strong move above the 50-day line after the earnings release, offering early entry.
Market rally analysis
Stock market gains had another quiet day, with major indices holding back after giving up early gains.
There’s nothing wrong with the market digesting the gains and trading tight near the recent strengthening and 2023 highs. Especially heading into earnings season. It’s about letting top stocks take a breather while others get ready.
Market breadth has improved significantly on the NYSE, but less impressively on the Nasdaq. There is a tug of war between new highs and new lows.
Invesco S&P 50 500 Equal Weight ETF (RSP) improved in recent weeks, but was unable to definitively clear the 50-day line.
The Russell 2000, home to many bank stocks, is below the 200- and 50-day lines.
Homebuilders and other housing stocks are on the rise. Dr. Horton (DHI) will report earnings on Thursday and begin several reports within the group.
Chip stocks tried to make a move Tuesday morning after the SMH ETF found support at the 50-day line.But ETFs falter despite strength NVIDIA (NVDA) rises and some chip plays are reversed. Earnings from ASML, Lam Research and Taiwan Semiconductor could have a significant impact on the upswing of the chip sector and the market as a whole.
Travel, commodities, footwear, software, defense/aerospace, medical products, gaming, and other groups also have some stocks at or near the buy zone. With a little more strength and breadth in the market, we could see a lot of buying opportunities.
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what to do now
While buying opportunities have been relatively limited over the past few days, investors may have chosen to nibble on some of them. Now is not the time to significantly increase market exposure from current levels. . A sideways market move, while constructive, doesn’t really help individual stocks. That’s why many promising stock moves often weaken near opening prices.
Earnings season can also cause stocks, sectors and indices to fluctuate over the next few sessions.
However, there are a number of stocks exhibiting interesting behavior from various sectors. Investors want to be ready to increase their exposure in a more meaningful way. Have a watchlist ready.
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