Wednesday morning Dow Jones futures rose slightly, along with S&P 500 and Nasdaq futures. Advanced Micro Devices (AMDNotable earnings headlines after the close.
The stock market rally eased Tuesday, with the Dow leading the declines amid House Speaker Nancy Pelosi’s trip to Taiwan and hawkish Federal Reserve comments.
AMD stock, SolarEdge Technologies (SEDG), playing lithium Levent (LTHM), Occidental Petroleum (OXY), Pioneer Natural Resources (PXD), a healthcare cost management company advanced health (EVH) And the PayPal (PYPL) reported late on Tuesday.
Early Wednesday, the Chinese e-commerce company Ali Baba (BabaQuarterly earnings reports. China EV and battery giant BYD (BYDDF) Most likely July sales report, then Delivery data From New (NIO), Exping (XPEV) And the Lee Otto (LI) on Monday.
Dow jones futures contracts today
Dow futures rose 0.4% against fair value. S&P 500 futures rose 0.3%. Nasdaq 100 futures rose 0.2%.
The 10-year Treasury yield fell 3 basis points to 2.71%.
AMD stock fell strongly after that AMD earnings topped the number of views But the revenue routing was short. Shares rose 2.6% to 99.29 in the regular Tuesday session, extending their strong rally from a 52-week low on July 5. AMD stock is still below the 200-day streak.
SEDG Group shares slumped after earnings outstripped their results and earnings slumped slightly. SolarEdge stock rose 1.9% Tuesday to 365.41, up over the past several days on earnings from other solar and a tax and climate spending bill that promotes green energy.
LTHM stock rose after that living earnings Views topped and revenue driving was solid. Livent stock jumped 6.8% Tuesday to 25.93, retracing its 50-day and 200-day moving averages. Competition Albemarle (ALBWednesday night reports. ALB stock rose late. Shares rose 1.6% on Tuesday, heading towards a buying point.
OXY stock fell slightly even though Occidental’s earnings comfortably beat quarterly targets. Warren Buffett’s preferred energy stock fell 0.3% on Tuesday, just above the 50-day line at the base of the cup.
PXD stock was flat after earnings and revenue losses outpaced, as part of a big week oil shale results. Pioneer Natural Resources also announced an increase in its dividend. PXD stock is down 0.1% on Tuesday, down 50 days.
EVH stock went up after that advanced earnings Beat the opinions and raised the health care management company guidelines for a full year. Evolent stock is up 1.2% Tuesday, out of buying range.
PYPL stock soared after PayPal Earnings He won and the steering was strong. The leading digital payments company also confirmed that activist investor Elliott Management has acquired $2 billion. Shares rose 1.2% on Tuesday to 89.63, continuing to bounce off late-June lows but well below the 200-day line.
BABA stock rose 2.5% to 92.62 on Tuesday before results but remained below the 50-day and 200-day lines.
BYD stock fell 1.5% to 36.75 on Tuesday, slightly below its 50-day streak as it works on a fresh consolidation.
BYD is likely to post another month of record sales with several new growth drivers about to kick in. This includes BYD Seal, Tesla (TSLA) the competing Model 3, which begins deliveries this month. The China EV giant is also expanding to a slew of new markets in the coming weeks and months.
For its part, Tesla stock rose 1.1% to 901.76, extending the winning streak to five sessions. Stocks hit the resistance at the 200 day line again.
stock market rise
The stock market closed lower after trading up and down during the session.
House Speaker Pelosi visited Taiwan on Tuesday, with plans to visit senior officials. Chinese officials have threatened to take action if the visit goes ahead, and have implemented or already announced various military displays of force. After Pelosi’s plane landed, the key indicators rebounded but then faded to mix.
The Dow Jones Industrial Average fell 1.2% on Tuesday stock market trading, with no leading Fibonacci far from session lows. The S&P 500 fell 0.7%. The Nasdaq Composite, up for most of the day, closed down about 0.2%. Small cap Russell 2000 down 0.1%
US crude oil prices rose 0.6% to $94.42 a barrel. US natural gas prices fell 7%.
The 10-year Treasury yield jumped 13 basis points to 2.74%, rebounding from an intraday low of just under 2.58%. Revenues rebounded as Pelosi and Taiwan concerns faded. San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans have become the latest pessimistic policymakers to stress that the central bank is nowhere near done fighting inflation.
between the Best ETFsThe Innovator IBD 50 ETF (fifty) up 1%, while the Innovator IBD Breakout Opportunities ETF (fit) decreased by 1%. iShares Expanded Technology and Software Fund (ETF)IGV) rose 0.2%. VanEck Vectors Semiconductor Corporation (SMH) decreased by 0.2%.
SPDR S&P Metals & Mining ETF (XME) is down 1.3% and the US Global Infrastructure Development Fund X (ETF) )cradle) lost 1.5%. american global aircraftPlanes1% down. SPDR S&P Home Builders (XHB) fell 3.1%, as higher Treasury yields weighed on the sector. SPDR Specific Energy Fund (SPDR ETF)XLE) is down 0.2% and the Financial Select SPDR ETF (XLF) lost 1.1%. SPDR Healthcare Sector Selection Fund (XLV) decreased 0.4%.
Stocks reflect more speculative stories, the ARK Innovation ETF (see you) rose 2.7% and the ARK Genomics ETF (ARKG) by 2.3%. TSLA stock continues to lead across ETFs on Ark Invest. Ark also owns a small stake in BYD stock.
Market Rise Analysis
The stock market rally opened lower but then bounced back to fade again.
Given the geopolitical headwinds and hawkish Fed statements, the modest market pullback wasn’t worrisome, especially given the market rally in recent weeks.
The Nasdaq held support near its early June highs.
The Dow Jones, S&P 500, and Russell 2000 indices didn’t quite reach their highs in early June. Above all, the major indicators are facing several other resistance levels, notably the 200-day line.
Market leadership is improving.
Solar, oil and gas, food, defense, heavy construction, and a variety of medical stocks are doing well, although some are under construction while others have been extended. Even a few chip names show their strength or configuration, although AMD stock and the group as a whole still have a long way to go for recovery. Some steel and metal plays and perhaps even fertilizer stocks are starting to rebound.
But after rallying significantly over the past several weeks, often in light volumes, many of these stocks can pause. So sideways market moves over a few days or weeks may be constructive.
What are you doing now
Investors should remain modestly invested. It is still unclear if this is a sustainable uptrend or another bear market rally. Remember: the bolder you are to enter the market, the faster you should exit if conditions deteriorate.
Whether you are a 10% or 50% investor, look for early entries, and try to start trades close to buy points. This can make it easier to get a cushion as many stocks pull back after short periods.
It is definitely a time to engage closely with the market.
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