Weekly Stock Market Update & SPY Technical Analysis It’s a shortened holiday week in the market, but it’s jam-packed with exciting events and data. The biggest focus this week will be Nvidia’s earnings, scheduled for Wednesday after the market closes. Nvidia is currently the second-largest company in the stock market by market cap ($3.2T), trailing only Microsoft ($3.34T), making its earnings a must-watch event. A company of that magnitude has the ability to move the entire industry it’s in, specifically the semiconductor industry and technology sector, depending on the report’s outcome. Earnings data often gives rise to dozens of new setups, especially when it comes from a large and influential company, and Nvidia is considered one of the most influential...
Breaking news hit the wire just moments after market close last Friday of the credit rating agency Moody’s downgrading the U.S. credit rating from AAA to AA1. Moody’s was the final credit rating agency to uphold the AAA rating, but a concern over the U.S. deficit forced their hand. The market reaction that followed was obviously negative, with the S&P 500 giving up its entire gain from Friday in the post-market hours, leaving many to wonder whether the downslide will continue into this week. The last downgrade came on August 1, 2023, which sent markets lower and kicked off a three month market correction, but that doesn’t necessarily mean the same will happen this time. There are always a combination of...
Weekly Stock Market Update & SPY Technical Analysis Investors are anxious to come back to markets this week as they await the latest trade-deal developments between the United States and China. Last week, markets celebrated a newly inked deal between the U.S. and the UK, with the Trump administration praising it as the first of many “great” deals to come. The biggest changes in the deal were around cars, steel, and aluminum. The U.S reduced its tariff on British car imports from 27.5% to 10% for up to 100,00 vehicles annually. The U.S. tariffs on UK steel and aluminum, previously raised to 25%, have been eliminated for certain sectors, providing relief to manufacturers. The deal also established a tariff-free quota...
Weekly Stock Market Update & SPY Technical Analysis Markets booked their longest winning streak in over 20 years as major indexes recovered from their April lows, but the rally will face a big test this week as investors brace for the Federal Reserve’s FOMC meeting. Before diving into the details, let’s briefly discuss what took place last week. Last week introduced a plethora of new economic updates and earnings data. On the economic front, the first quarterly GDP reading of this year reflected that the U.S. economy contracted by -0.3% due to an uptick in imports. Companies rushed to import products from other countries ahead of Trump’s tariffs, which subtracted from the United States’ growth (exports add to GDP and...
Weekly Stock Market Update & SPY Technical Analysis April has been a wild ride for stocks, with record-setting moves both up and down in a headline-driven market. As the month wraps up, investors are asking: will we finish April in the green? This week brings critical tests as key economic data and major earnings reports hit. Here’s the breakdown: Monday – No major events scheduled Tuesday – Advanced retail/wholesale inventories, Consumer Confidence, Job Openings Wednesday – ADP Employment, Q1 GDP, Consumer Spending, PCE Inflation Index Thursday – Initial Jobless Claims, Construction Spending Friday – U.S. Unemployment Rate Recession fears are already high, and the Q1 GDP report could add fuel to the fire. A recession is typically defined as two...
