The Trump administration released an AI action plan, focusing on easing regulations and increasing investment. The ECB paused interest rate cuts. At 9:45 AM, services and manufacturing PMI will be released. Stock index futures remain volatile at high levels. Individual stocks are mixed.
This earnings season, strong results are not leading to strong stock moves. Stocks with negative surprises are falling more than those with positive surprises are rising.
Company Earnings:
• GOOGL beat expectations and announced more AI investment. The stock is up 4% pre-market, continuing the recovery from the February earnings gap. GOOGL is moving higher. Fundamentals are solid, but the stock is still below its all-time high. This area remains key resistance.
• TSLA reported a big drop in earnings and said low-cost car production has started. It expects tough quarters ahead. The stock is down 6% pre-market, still moving within a two-month triangle pattern. The lower edge support is around $300. TSLA has not broken out yet. Fundamentals are weak but mostly expected. Price reaction is neutral.
• IBM and NOW both beat expectations. Their stocks moved in opposite directions: IBM down 6%, NOW up 8%.
• HON beat expectations, raised its full-year outlook, and continues with its 1-for-3 split plan. The stock is down 3%. HON fundamentals are mostly fine. Watch if $230 support holds at the open. The stock is still in a sideways range near the top. If it breaks down, the next target is around $220. A drop may be a buying opportunity.
• DOW posted a loss and missed revenue estimates. Stock down 11%.
• AAL beat earnings but lowered Q3 guidance. Stock down 6%. LUV followed, down 4%.
• VKTX, a weight-loss drug company, continues to post losses. Stock down 7%.
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