In the world of finance, turmoil often reigns supreme. Today, we delve into the market’s wild ride. The Dow Jones slips 200 points while Tesla faces challenges, and earnings are a rollercoaster.
Dow Jones Takes a Hit:
Market turbulence sends the Dow Jones down by 200 points. Investors brace for impact as the aftermath of a Thursday sell-off unfolds.
SolarEdge’s European Woes:
SolarEdge Technologies (SEDG) witnesses a plummet due to a grim outlook on European demand. The unexpected cancellations in the third quarter sent shockwaves through the company.
Tesla’s Rocky Road:
Tesla’s stock slides further, testing a pivotal level. Challenges abound as it grapples with a 2.5% early morning decline.
Earnings in the Spotlight:
American Express (AXP), Intuitive Surgical (ISRG), and SLB enter the earnings spotlight. AXP drops 3.5%, ISRG tumbles by nearly 4%, and SLB faces a 1% dip in early morning trading.
SolarEdge’s European Challenge:
Unexpected cancellations and pushouts hit SolarEdge’s European market. CEO Zvi Lando voices concerns over weakening demand.
Market’s Early Performance:
The Dow Jones falls by 0.6%, the S&P 500 dips 0.9%, and the Nasdaq plummets 1.2% in early trading. Enphase Energy (ENPH) joins the downward trend.
ETFs in the Mix:
Nasdaq 100 tracker Invesco QQQ Trust (QQQ) drops 1.2%, while the SPDR S&P 500 ETF (SPY) is down by 0.9%.
Treasury Yields and Oil Prices:
The 10-year U.S. Treasury bond settles at 4.94% after briefly crossing the 5% threshold. Oil prices surge, with West Texas Intermediate futures hovering around $90 a barrel.
Market Snapshot:
Thursday’s market performance witnessed the Dow Jones slipping by 0.8%, the S&P 500 down by 0.9%, and the Nasdaq plunging 1%. The small-cap Russell 2000 recorded its lowest close in over a year.
Caution Prevails:
In the face of recent market weakness, investors are urged to exercise caution. Recommended stock market exposure remains between 0% and 20%.
Tech Titans Face Challenges:
Tesla (TSLA) and Nvidia (NVDA) struggle with a 2.5% decline. Apple (AAPL) and Microsoft (MSFT) also face early morning losses.
Top Stocks to Watch:
JPMorgan Chase (JPM), Salesforce (CRM), Arista Networks (ANET), and Lululemon Athletica (LULU) are among the top stocks to monitor in this challenging market.
JPMorgan’s Hurdles:
JPMorgan faces a 0.4% decline, struggling to regain its 50-day line. An entry point is marked at 159.38.
Salesforce’s Battle:
Salesforce encounters resistance at the 50-day line, inching towards a 228.79 buy point in a double-bottom base.
Lululemon’s Surge and Fall:
Lululemon surged past its 406.94 buy point, but Thursday saw a 2.3% drop. A sustained move past that entry remains a buy signal.
Meta Platforms’ Support Search:
Meta Platforms aims to find support around a 312.87 buy point, with an official buy point at 326.20.
Regeneron’s Struggles:
Biotech leader Regeneron slides below the 50-day line, making a flat base with a 847.50 buy point.
Best Stocks Today:
Meta Platforms, Salesforce, Lululemon, and Arista Networks take the stage as the best stocks to watch.
Tesla’s Troubles Persist:
Tesla’s stock plunges more than 9% after earnings. Challenges continue as it grapples with support around the 200-day line.
Dow Jones Leaders:
Apple extends its losing streak to five sessions, while Microsoft keeps above the 50-day line, preparing for a new base formation.
Wrap-up:
Market volatility, earnings surprises, and stock struggles define today’s financial landscape. Stay tuned for the next chapter in this ever-changing market saga.
Remember, the key to success in the world of finance is adapting to the highs and lows.