Treasury Secretary Bessent said talks with China will be held next week in Stockholm. The market stayed near recent highs with slight moves. Yesterday, the index hit a new high at the open but then pulled back, closing above 6300 for the first time.
The intraday key level for SPY is around $628. If it opens below that, it may fall to the $625 area first. On the upside, it could test the $631.5 area. If it breaks through quickly, it may keep rising.
Major industrial stocks reported earnings:
• GM: Profit fell year-over-year but beat expectations. GM said tariffs cut profit by $1.1 billion, and next quarter’s strike impact will cost another $4–5 billion. Stock down 2%.
• RTX: Revenue and profit beat forecasts, but full-year profit guidance was cut. Tariffs will impact $850 million in profit. Stock down 1%.
• NOC: Earnings beat and full-year guidance was raised. Stock up 4%.
• LMT: Earnings missed badly with a pre-tax loss. Full-year guidance was sharply lowered. Stock down 8%.
In consumer stocks:
• KO (Coca-Cola) beat earnings expectations, but stock dipped slightly.
• PM (Philip Morris) missed revenue estimates, down 5%.
• Two major homebuilders beat expectations: DHI +7%, PHM +5%.
• TSLA opened its first restaurant in Hollywood.
Today, focus remains on major tech stocks.
• GOOGL will report earnings after the close on Wednesday. The stock keeps rising but is near the lower edge of the February gap around $192 — a good place to hedge if already long.
• AMZN is catching up ahead of earnings. It is near key resistance at $233 premarket — also a good hedge opportunity.
• TSLA pulled back yesterday from the top of its triangle pattern. Wait patiently for its earnings report after the close tomorrow.
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