SPX Opens Lower after Negative EPS Reactions from GOOGL, MSFT, AMD...Falls in Broad Selloff During FOMC Press Conference...

© 2024

The SPX -79.32 opened lower after negative EPS reactions from GOOGL, AMD and MSFT traded lower before the FOMC announcement and sold off aggressively in the last hour of trading as Powell emphasized that it was not likely that there would be a rate cut in March.  This was NOT new information, however it certainly seemed to create a selling catalyst as prices fell broadly and rapidly.

The CME FedWatch Tool had the 20 Mar Fed Meeting probabilities of a 5.00 to 5.25 Fed Feds rate at 57.8% this morning, at 35.5% after the press conference and 53.0% this evening at 8:45 pm ET.  Quite a range of probabilities in a 12-hour period.

SYK +18.84, +5.95%, BA +10.60, +5.29%, positive EPS reactions, GOOGL -11.36, -7.50%, MSFT -11.01, -2.69%, AMD -4.37, -2.54%, negative EPS reactions

AAPL, AMZN and META report EPS Thursday AMC.

After-hours:  ALGN +31.68, +11.85%, QRVO +5.26, +5.27%, positive EPS reaction, CHRW –4.69, -5.58%, MET –1.53, -2.21% negative EPS reactions.

Jobs Report on Friday.

Thursday, day 14 of Q4 earnings season continues with 22 SPX companies BALL, BDX, BR, CAH, CMS, DGX, DOV, ETN, HON, IP, ITW, MO, MRK, PH, RCL, RVTY, SWK, TECH, TSCO, TT, WEC, WRK reporting BMO and 10 AAPL, AMZN, CLX, CPT, EMN, GEN, HIG, HOLX, MCHP, META reporting AMC.  107 SPX companies report this week.

First day reaction: Q4

Positive:  SYK, COR, BA, FTV, ADP, BSX, MTCH, EQR, PSX, MSCI. GM, SYY, NUE, GLW, MPC, HCA, DHR, HUBB, AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 66

Neutral:  MA, CB, SWKS, EA, JNPR, AVY, FFIV, NVR, PHM, PNR, BEN, TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 28

Negative:  MKTX, ROK, TER, GOOGL, APTV, BXP, TMO, ROP, MSFT, AMD, RHI, HES, OTIS, MDLZ, ODFL, NDAQ, SBUX, UPS, WHR, ARE, JCI, AOS, PFE, INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 60

Mega caps AAPL, NVDA, TSLA, AMZN, META, MSFT, GOOGL fell on Wednesday.

SPY down 8.01 at 482.88 on 125.8.6 million shares, above average volume, closed lower on higher volume. 

VIX up 1.04 at 14.35

QQQ down 8.33 at 416.97

BA, UNH, INTC, JNJ led the DJIA, 4 advancers, -16

PARA, EW, SYK, COR led the SPX, 77 advancers 

ADP, QCOM, PDD, DXCM led the NDX, 11 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   

Down:   DIA, SPY, QQQ, IWM,

All eleven sectors were lower on Wednesday, with the smallest declines from XLV, XLU and XLRE.

The SPY MFC green line turned down at 90.6 and is counter-trend defensive. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

11 of 100 NDX stocks closed higher on Wednesday.

57 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, AMD, QCOM, COST, ZS, MAR, ISRG, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, FTNT, META, VRTX, CCEP, SPLK, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, ADBE, CMCSA, SNPS, EA, CEG, CSX, MDB, PAYX, PEP,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 14

ADI, BKNG, CPRT, CSCO, CSGP, FANG, KHC, GOOGL, HON, MRNA, ODFL, PYPL, ROP, SBUX,

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SPX Closes Slightly Lower...Financial, Energy, Consumer Staples lead Sectors...After-hours: SBUX up, AMD, GOOGL down on EPS Reactions...

© 2024

The SPX -2.96 opened flat, traded in a tight range and closed slightly lower.  Mega-caps were weak before MSFT, GOOGL and AMD earnings today AMC.  The DJIA hit another all-time closing high.

MSCI +51.29, +9.31%, GM +2.76, +7.80%, positive EPS reactions, UPS -12.96, -8.20%, WHR -7.78, -6.60%, negative EPS reactions.

AAPL, AMZN and META report EPS Thursday AMC.

After-hours:  SBUX +3.52, +3.74%, positive EPS reaction, AMD – 11.16, -6.49%, GOOGL -8.84, -5.84%, MSFT – 0.95, -0.23% negative EPS reactions.

FOMC announcement on Wednesday at 2:00 pm, press conference at 2:30 pm ET and Jobs Report on Friday.

Wednesday, day 13 of Q4 earnings season continues with 17 SPX companies ADP, APTV, AVY, BA, BSX, COR, FTV, HES, MA, MKTX, NDAQ, ODFL, OTIS, PSX, ROK, ROP, TMO reporting BMO and 9 AFL, ALGN, AVB, CHRW, CTVA, MET, PTC, QCOM, QRVO reporting AMC.  107 SPX companies report this week.

First day reaction: Q4

Positive:  MSCO. GM, SYY, NUE, GLW, MPC, HCA, DHR, HUBB, AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 57

Neutral:  FFIV, NVR, PHM, PNR, BEN, TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 22

Negative:  UPS, WHR, ARE, JCI, AOS, PFE, INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 43

Mega caps NVDA, TSLA rose and META, MSFT, GOOGL, AMZN, AAPL fell on Tuesday.

SPY down .38 at 490.89 on 58.6 million shares, below average volume, closed lower on lower volume. 

VIX down .29 at 13.31

QQQ down 2.85 at 425.30

JPM, GS, AXP, HON, V led the DJIA, 20 advancers, -1

MSCI, GM, SYY, NUE led the SPX, 273 advancers 

VRTX, FANG, CMCSA, CTAS led the NDX, 39 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   DIA,

Down:   SPY, QQQ, IWM,

Six of eleven sectors were higher on Tuesday, led by XLF, XLE and XLP.

The SPY MFC green line flat at 95.4 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

39 of 100 NDX stocks closed higher on Tuesday.

69 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, ADBE, ADI, CMCSA, SNPS, EA, CEG, CSX, FANG, KHC, CSGP, PYPL, CPRT, MDB, ODFL, PAYX, PEP, HON, SBUX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

HON, SBUX,

Moving Below 30 DMA = 3

AAPL, CHTR, TTD,

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SPX, DJI, NDX make All-time Closing Highs, MSFT, GOOGL, META also make All-time Closing Highs...Consumer Discretionary, Technology, Communication Services Lead Sectors...MSFT, GOOGL, AMD Tuesday AMC EPS...

© 2024

The SPX +36.96 opened flat and closed higher after a strong rally during the final hour of trading.  Semiconductor stocks recovered from Friday’s selloff after weak guidance from INTC.  SPY, DIA, QQQ, MSFT, GOOGL and META each hit all-time closing highs.

MSFT, GOOGL and AMD report EPS Tuesday AMC.  AAPL, AMZN and META report EPS Thursday AMC. closed at all-times highs today.

FOMC announcement on Wednesday at 2:00 pm ET and Jobs Report on Friday.

Tuesday, day 12 of Q4 earnings season continues with 15 SPX companies AOS, DHR, GLW, GM, HCA, HUBB, JCI, MPC MSCI, NVR, PFE PHM, PNR, SYY, UPS reporting BMO and 16 AMD, BXP, CB, EA, EQR, GOOG, GOOGL, JNPR MDLZ, MSFT, MTCH, RHI, SBUX, SWKS, SYK, TER reporting AMC.  107 SPX companies report this week.

First day reaction: Q4

Positive:  AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 48

Neutral:  BEN, TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 18

Negative:  INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 37

Mega caps TSLA, NVDA, META, MSFT, AMZN, GOOGL rose and AAPL fell on Monday.

SPY up 3.86 at 491.27 on 60.5 million shares, below average volume, closed higher on lower volume. 

VIX up .34 at 13.60

QQQ up 4.34 at 428.15

CRM, DIS, V, MSFT led the DJIA, 21 advancers, +6

ADM, CCL, BLDR, KMX led the SPX, 366 advancers 

MDB, TTD, ILMN, TSLA led the NDX, 85 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   IWM, QQQ, SPY, DIA,

Down:   

Ten of eleven sectors were higher on Monday, led by XLY, XLK and XLC.

The SPY MFC green line turned up at 95.7 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

85 of 100 NDX stocks closed higher on Monday.

70 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, AAPL, ABNB, ADBE, ADI, CMCSA, SNPS, EA, CEG, CSX, FANG, KHC, CSGP, PYPL, CHTR, CPRT, MDB, ODFL, PAYX, PEP, TTD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

CHTR, CPRT, MDB, ODFL, PAYX, PEP, TTD,

Moving Below 30 DMA = 0

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SPX, NDX, Semiconductors Pause on Friday after INTC Weak Guidance...Energy, Health Care, Consumer Staples Lead Sectors...AXP Positive EPS Reaction Leads SPX, DJI...

© 2024

The SPX -3.19 closed slightly lower from weakness in semiconductor stocks after INTC lowered 2024 guidance Thursday after the close.  Friday’s Personal Income and Outlays, Core PCE report was 2.9% vs. 3.0% consensus, better than expected, but failed to trigger enough buying to outweigh the negative impact on INTC guidance.

AXP +13.36, +7.10%, positive EPS reaction, INTC -5.90, -11.91%, KLAC -42.32, -6.60%, negative EPS reaction.

FOMC announcement on Wednesday and Jobs Report Friday next week.

Monday, day 11 of Q4 earnings season continues with 1 SPX company BEN reporting BMO and 4 ARE, FFIV, NUE, WHR reporting AMC.  107 SPX companies report next week.

MSFT, GOOGL and AMD report EPS Tuesday AMC.  AAPL, AMZN and META report EPS Thursday AMC. closed at all-times highs today.

First day reaction: Q4

Positive:  AXP, COF, LHX, CL, URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 48

Neutral:  TMUS, WY, SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 17

Negative:  INTC, FICO, KLAC, WDC, AJG, V, NSC, TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 37

Mega caps AMZN, TSLA, META, GOOGL rose and MSFT, AAPL, NVDA fell on Friday.

SPY down .62 at 487.41 on 76.6 million shares, just below average volume, closed lower on slightly higher volume. 

VIX down .19 at 13.26

QQQ down 2.54 at 423.81

AXP, UNH, NKE, BA led the DJIA, 15 advancers, -11

AXP, COF, BIO, CTLT, CRL led the SPX, 269 advancers 

ABNB, MELI, CMCSA, CHTR led the NDX, 44 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   DIA, IWM,

Down:  SPY, QQQ,

Eight of eleven sectors were higher on Friday, led by XLE, XLV and XLP.

The SPY MFC green line turned down at 94.7 and is counter-trend defensive. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

44 of 100 NDX stocks closed higher on Friday.

63 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, AAPL, ABNB, ADBE, ADI, CMCSA, SNPS, EA, CEG, CSX, FANG, KHC, CSGP, PYPL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

CSGP, PYPL,

Moving Below 30 DMA = 8

ANSS, CPRT, DXCM, GFS, INTC, MCHP, MDB, ODFL,

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SPX, NDX, MSFT, GOOGL, META make All-time Closing High...Energy, Utilities, Communication Services Lead Sectors...After-hours INTC Negative EPS Reaction, Lower Guidance Hits NQ Futures...

© 2024

The SPX +26.61 closed at a new all-time high as did NDX at 17,516. The GDP report Thursday was higher than expected at 3.3% vs. 2.0% consensus.  MSFT, GOOGL and META closed at all-times highs today.

URI +74.74, +12.96%, AAL +1.43, +10.27%, positive EPS reaction.  TSLA -25.20, -12.13%, negative EPS reaction.

After the close INTC reported lowered guidance for its next quarter which is having a noticeable impact on other semiconductor stocks in after-hours trading including AMD, MU, NVDA and NQ futures -150 points.

After-hours:  INTC -5.40, -10.90%, KLAC -38.51, -6.00%, negative EPS reaction.

Personal Income and Outlays, PCE report Friday at 8:30 am ET.

Friday, day 10 of Q4 earnings season continues with 3 SPX companies AXP, CL, NSC reporting BMO.  74 SPX companies report this week. 

First day reaction: Q4

Positive:  URI, AAL, IBM, RMD, WRB, CCI, MKC, PKG, DOW, CMCSA, VLO, BX, LRCX, STX, CSX, NEE, RJF, XEL, LVS, NFLX, TXT, TEL, GD, FCX, APH, VZ, RTX, UAL, BRO, PG, PCAR, HAL, TRV, RF, HBAN, FITB, SLB, STT, FAST, JBHT, MTB, CFG, BK, C = 44

Neutral:  SHW, AMP, NOW, UNP, STLD, ELV, ISRG, SYF, GE, CMA, TFC, GS, PNC, BLK, JPM = 15

Negative:  TSLA, HUM, NOC, MMC, LUV, KMB, TDY, BKR, T, ABT, TXN, MMM, DHI, IVZ, LMT, JNJ, ZION, PPG, DFS, KEY, NTRS, KMI, PLD, USB, SCHW, MS, DAL, UNH, WFC, BAC, = 30

Mega caps GOOGL, META, MSFT, AMZN, NVDA rose and AAPL, TSLA fell on Thursday.

SPY up 2.64 at 488.03 on 72.3 million shares, below average volume, closed higher on lower volume. 

VIX up .31 at 13.45

QQQ up .52 at 426.35

IBM, DOW, CAT, WBA led the DJIA, 26 advancers, +16

URI, AAL, RMD, WRB led the SPX, 401 advancers 

CEG, CMCSA, NFLX, ADBE led the NDX, 66 advancers.

The two-year trend term is sideways.  The one-year trend is up.

Up:   IWM, DIA, SPY, QQQ,

Down: 

Nine of eleven sectors were higher on Thursday, led by XLE, XLU and XLC.

The SPY MFC green line is pointed up at 95.7 and is short-term bullish. 

Uptrend sectors:   XLC, XLK, XLF, XLV, XLY, XLI, XLRE, XLB, XLP, XLU,

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

66 of 100 NDX stocks closed higher on Thursday.

69 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, TMUS, DXCM, AMD, QCOM, COST, ZS, BKNG, MAR, ISRG, MRNA, TEAM, REGN, AMGN, ILMN, AVGO, MRVL, MU, ANSS, FTNT, META, VRTX, CSCO, CCEP, SPLK, GOOG, ADP, MDLZ, ADSK, NVDA, AMZN, CTSH, DASH, DDOG, GOOGL, LRCX, MSFT, NFLX, WDAY, PANW, TTWO, MELI, CDNS, ORLY, ROP, VRSK, AMAT, ASML, CDW, FAST, INTC, INTU, KLAC, PCAR, AAPL, ABNB, ADBE, ADI, CMCSA, CPRT, GFS, MCHP, MDB, SNPS, EA, CEG, CSX, FANG, KHC, ODFL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

CEG, CSX, FANG, KHC, ODFL,

Moving Below 30 DMA = 5

NXPI, PAYX, PYPL, SIRI, TXN,

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