[Chart courtesy of MarketWatch.com] The Nasdaq jumped to a new record early on, as traders dug into the latest quarterly results from tech darling Nvidia, which smashed expectations, as its momentum does not seem to slow. Consequently, the stock surged over 10% sending it shares above $1,000. AI is the latest theme, and companies are spending on this technology with Nvidia supplying the …
Nvidia’s Moment Of Truth: Can AI Earnings Offset Fed’s Inflation Alarm?
[Chart courtesy of MarketWatch.com] Stocks traded near the flatline for most of the day, as investors looked ahead to the widely anticipated release of Nvidia’s latest earnings report due out after the close. However, the released minutes from the May Fed meeting proved to be more than traders were able to handle. They not only admitted a lack of progress in recent …
Traders Brace For Nvidia Earnings: Rally Or Sell-Off?
[Chart courtesy of MarketWatch.com] The major indexes hugged their unchanged lines today, hanging on to the record levels seen in the previous session, as traders eagerly looked toward Nvidia’s earnings report tomorrow. However, a last hour lift insured a green close. There are two ways to view this important earnings announcement. On one hand, traders are heavily invested in the stock, …
Market Turbulence: From Optimism To Disappointment
[Chart courtesy of MarketWatch.com] Today, Wall Street witnessed a rollercoaster ride as the major indexes initially surged in response to the Federal Reserve’s decision to keep interest rates unchanged. However, this early enthusiasm gave way to disappointment as the S&P 500 and Nasdaq reversed course and ended the day in negative territory. Fed Chair Jerome Powell cited a “lack of …
Beware Of Narrow Breadth: Why This Rally Might Fail
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 is close to its highest level in nine months, but don’t get too excited. This rally is driven by a few big stocks, while most of the market is lagging. That’s a sign of weakness, not strength, according to analyst Lance Roberts. He explains: Breadth is important. A rally on …
ETF Tracker Newsletter For May 19, 2023
ETF Tracker StatSheet You can view the latest version here. DEBT DEAL FLOPS, NASDAQ POPS, AND GOLD TOPS [Chart courtesy of MarketWatch.com] Moving the markets The markets went crazy this week, jumping up and down on every rumor of a debt ceiling deal. The Nasdaq (small caps) was especially nuts, soaring to new highs even as interest rates spiked. …