There are reports that Musk and Trump may have a phone call today to ease tensions, but White House officials say no such meeting is planned. After yesterday’s sharp drop, TSLA shares are up 5% in pre-market trading. On the chart, the $305 level near the yearly high is a key resistance. The intraday pivot point is around the $290 breakout level. On the downside, support is near the lower end of the previous range around $270.
Chipmaker AVGO reported better-than-expected earnings, but growth is slowing. The stock is down 3% in pre-market after pulling back from record highs. Apparel company LULU cut its full-year profit outlook, and the stock is down 20%.
In macro news, U.S. nonfarm payrolls for May came in at 139K, slightly below the previous 147K but above market expectations of 126K. The unemployment rate is at 4.2%.
The S&P 500 index has tried for three straight days to break past recent highs. The key intraday resistance remains at the $598–600 zone. If the index moves up quickly, it could challenge all-time highs. Yesterday saw a pullback, but the $590 level held which remains the key support for the current swing.
Tech giant MSFT continues to lead the market. It broke to a new all-time high around $464 yesterday. If the rally continues, it could push the AI sector higher as well. Recently, small- and mid-cap stocks have also been active, with different sectors taking turns to move up. This could lead to a catch-up rally in smaller names.
Watch AMZN today to see if it can hold above the $210 range. GOOGL is worth watching to see if it can move back above its 1-year average around $170. NVDA still faces resistance near its all-time high around $150.
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments