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News in Brief
Bloomberg:
- BYD shares face earnings test as China’s EV price war heats up.
- Fed rate doubts have option traders covering both hikes and cuts.
- ‘AI Craze’ powers best week in 2024 for stocks.
- Hong Kong stocks are back with world-beating surge.
MarketWatch:
- Stocks risk a wild week with Big Tech earnings, Fed’s faceoff with inflation.
- Big Tech drives S&P 500 to best week since November as investors shrug off inflation worries.
- Google parent Alphabet joins $2 trillion market-cap club.
- Opinion: As Alphabet follows Meta with a dividend, the pressure is now on Amazon.
- Microsoft earnings were solid – and they’re primed to get even better.
- Intel’s bad year worsens, with analyst decrying company as ‘profoundly broken’.
yahoo! finance:
- Musk visits Beijing as Tesla struggles to fend off Chinese rivals.
- Apple is starting to look away from China.
- The AI trade is back, as confidence in Big Tech surges.
- Wall Street Bulls say stock rally can resume even without rate cuts.
- New inflation reading reinforces Fed’s higher-for-longer stance.
- Tesla Autopilot recall probed by safety regulator after new crashes.
- Apple renews talks with OpenAI for iPhone AI features: Bloomberg.
- Big Tech’s pledge to spend billions on AI pushes Nvidia higher.
AI related shares are driving the markets higher while some have not even reported earnings yet. We have Fed meeting, jobs report and more tech earnings this week that will have an effect on markets.
Global Indexes
S&P 500
The S&P 500 made a breakaway gap driven by blowout earnings.
DAX
The DAX reversed its 2-day correction with one candle following the US.
HANG SENG
After hesitating at its 200 DMA the HANG SENG broke it to be back in all positive territory. It is continuing its strong trend today with a 1.8% gain currently.
NYSE & NASDAQ Stocks
Alphabet Inc
After upbeat earnings Alphabet took off like a rocket with a gap. Frontrunner is predicting more highs with a MACD that turned green. Even its Trend Factor turned dark green to join the elite trend movers.
NVIDIA Corporation
On its heels was NVIDIA with a 6.2% gain without reporting results yet (usually later then the rest).
JSE Stocks
JSE All Shares
The JSE All Shares followed the US higher and touched its strong resistance again.
Bidvest Group Ltd
Bidvest bounced off its R230 strong support to touch its 50 DMA resistance.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
