Earning reports of the gigacap of Wall Street soften the impact of another bad day for the markets. Thanks to the incoming reporting season for the big tech which bodes well.
At the closure of the market session S&P was up 0.03%, NASDAQ +1.8% and Dow Jones Industrial Average +0.27%
Tech stocks finally out of the mud thanks to a positive session which brought the NASDAQ up. Investors relying on the upcoming quarterly earnings of these giants decided to be confident investing in tech sector after the tumbled friday session. Meta Platforms (+1.56%), Amazon (+1.19%), Twitter (+5.64%), Microsoft (+2.44%), Google (+2.87%). Still in the red Netflix (-2.60%).
About Twitter, it seems that love might be a little bit closer than expected between the Blue Bird and Mr. Musk. Elon during the day offered $54.20 per share and it felt like markets loved that.
As we got used to, when Musk talks about his interest in other companies, Tesla’s investors got a bit jealous which translates into a blushing stock. Shares of The Electric Company are now tradable at $998.02 (-0.70%)
Snap. Inc investors still coy (+0.5%), despite the social media reported user gains on friday.
Air companies moved to the downside on the market, as United Airlines stock (-0.31%), Alaska Air Group (-0.19%) and American Airlines (-0.99%) all lost between 0.2 and 1%.
Energy stocks had to deal with the news that based on Bloomberg rumors: demand for Gasoline, Diesel and aviation fuels in China could shrink by 20% YoY bringing the whole market down: Baker Hughes (-4.53%), APA(-4%), Devon Energy Corporation (-3.25%) Schlumberger NV (-7.11%), Halliburton (-6.26%) were among the biggest decliners in the energy sector.
Financial sector begins mixed the week, in a session which saw American Express (+1.97%), JPMorgan Chase (-0.03%), Visa (+0.86%) and Goldman Sachs (+0.52%).
Even if today we had all things considered a positive session, Janney Montgomery Scott said in a note: “We do not see the daily, weekly, or monthly charts as necessarily ‘oversold’ at this point- which implies there is likely more downside ahead before current selling conditions hit extremes”.
Most traded stocks:
Twitter Inc 5.66% 173.41M
Apple 0.67% 95.23M
AMD 2.89% 93.12M
NVIDIA 1.98% 63.82M
Microsoft 2.44% 35.46M
Top Gainers of US Stocks
Nkarta 140.93%
Ion Geophysical 46.29%
Cango 40.68%
Rubius Therapeutics 40.60%
Erytech Pharma ADR 37.70%
Top Losers of US Stocks
Clarus Therapeutics Holdings -56.17%
Eliem Therapeutics -55.76%
Toughbuilt Industries -44.87%
Avadel Pharma -36.02%
Cypress Energy Partners LP -34.53%
