Tag: NASDAQ (NASDAQ:COMP)

Lackluster Jobs Report and Rising Trade Tensions

Posted on by The INO.com Team

Hello traders everywhere. The stock market is ending the week just like it has spent most of the week, mixed. The NASDAQ is down on the day but will end the week in positive territory overall having bounced off support by way of the 50-day moving average and eeking out a gain of +.66%. The S&P 500 is following suit by gaining +.44%, and the DOW has fallen just short posting a weekly loss of -.23%.

Jobs Report

The Labor Department announced that The U.S. economy added 157,000 jobs last month vs. an expected gain of 190,000. While the headline jobs growth number for July missed expectations, June's figures were revised substantially higher up to 248,000 from 213,000. Plus, wage growth met expectations growing by +2.7% in July on a year-over-year basis. Continue reading "Lackluster Jobs Report and Rising Trade Tensions" →

Trade Tensions Overshadow Apple Earnings

Posted on by The INO.com Team

Hello traders everywhere. The stock market started out the day in positive territory mostly due to positive earnings for Apple Inc. (AAPL), which hit an all-time high of $201.32 and still trading +5% higher on the day. However, trade tensions between the U.S. and China have taken control of the market action and pushed stocks lower.

The Trump administration's unpredictability on trade has been in the spotlight in the last 24 hours after reports that talks between Washington D.C. and Beijing were set to resume were quickly overtaken by a threat to raise tariffs by 25%, instead of the initially proposed 10%, on $200 billion worth of imported Chinese goods. Of course, China vowed to retaliate if the United States slapped further tariffs.

Trade Tensions Overshadow Apple Earnings

The Fed decision, which is due at 2 pm EDT today is also weighing on traders minds. While a rise in interest rates is not expected today, discussion on trade or where the Fed is thinking of heading could be on the table and might provide clues as to their future moves. Will they still act on the two remaining rate hikes that they had mentioned earlier in the year? Continue reading "Trade Tensions Overshadow Apple Earnings" →

NASDAQ Breaks Through Key Technical Support

Posted on by The INO.com Team

Hello traders everywhere. The NASDAQ has broken through a key technical support level at $7649.58 where the 50-day moving average stands trading -1.3% lower on the day. The fall lower comes on the heels of a lackluster Friday trade where we saw the NASDAQ fall -1.5% to close out the week. We'll have to watch and see if the index continues lower or if it will bounce off support and head higher having tested the 50-day MA twice in the last two months before bouncing off it and heading higher. Will the third time prove to be different?

Key Technical Support

The reason for the sharp sell-off can be directly attributed to the FAANG stocks as they continue to be put under selling pressure. The leader of the tech sell-off continues to be Facebook Inc (FB) as it sheds another -3.7% on the day continuing its historic three-day drop. Not to be outdone though Netflix Inc. (NFLX) is down -4.7%, Alphabet Inc. (GOOGL) -1.6%, Amazon.com Inc. (AMZN) -1.5% and Apple Inc. (AAPL) -.6%. Continue reading "NASDAQ Breaks Through Key Technical Support" →

DOW Triggers New Monthly Trade Triangle

Posted on by The INO.com Team

Hello traders everywhere. Close to the end of the trading day on Wednesday the DOW finally triggered a new green monthly Trade Triangle at $25,402.83 letting it join both the S&P 500 and NASDAQ on the long/bullish side of the market. However, the DOW still has some work to do to break out of the sideways trend that it has been trapped in.

The last time we got a new green monthly Trade Triangle was on December 5, 2016, at $19,225.29 and that uptrend stayed in place hitting an all-time high of 26,616.71 on January 26, 2018, before falling a new three month low of $23.344.52 and triggering a new red monthly Trade Triangle signaling that the long bull run had run its course. But as you can see the monthly Trade Triangle can be a powerful signal when it changes. Are we set for another long run to the upside?

Monthly Trade Triangle

On the flip side, Facebook Inc. (FB) is having the worst trading day in its history losing nearly 20% a day after its quarterly revenue missed expectations. Global daily active users, a key metric for the social media giant, also disappointed investors. Additionally, Facebook said it expects its revenue growth rates to slow down from last year. Facebook's earnings per share, however, topped Wall Street estimates. Continue reading "DOW Triggers New Monthly Trade Triangle" →

Alphabet Pushes NASDAQ To Record High

Posted on by The INO.com Team

Hello traders everywhere. The NASDAQ posted yet another record high for the year hitting $7,928.79 after Alphabet Inc. (GOOG) reported stronger-than-forecasted quarterly results sending the stock price to a record high of $1,275.00 at the open before it back off a touch. The outstanding earnings report from Alphabet helped to propel the FAANG stocks higher as well with Facebook (FB) climbing over 2%, Amazon (AMZN) gained 1.6%, Apple rose 0.8%, while Netflix (NFLX) inched up 0.3% before slipping back into negative territory.

The earnings season is off to a strong start, according to data compiled by FactSet. Of the 21.4% of S&P 500 companies that have reported, 80.6% have topped analyst expectations for second-quarter earnings. Meanwhile, 74.1% of those companies have surpassed revenue estimates.

Alphabet

Crude oil is on the rise as U.S. inventories continue to shrink and to get close to setting new three year lows for the product. Oil futures opened trading early in the am hitting a new three day low before reversing course and gaining a high of a little over 1.5% on the day so far. A U.S. government report is forecast to show a 3.1 million-barrel decline in commercial stockpiles when it's released on Wednesday, according to a Bloomberg survey. Continue reading "Alphabet Pushes NASDAQ To Record High" →