TAGS: Stock market analysis made easy.
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News in Brief
Bloomberg:
- Asian stocks rally as US shares near fresh record.
- S&P 500 is back to 5,200 as traders ride momentum.
- Wall Street embraces Fed bets after jobless data.
MarketWatch:
- Biden plugs $3 billion Microsoft AI investment at Wisconsin site where Trump-touted Foxconn plant flopped.
- Barry Sternlicht says the Fed’s ‘tool kit is flawed’ for this economy, urges Fed rate cuts.
- Tesla’s product-launch chief quits – and takes a swipe at Elon Musk on his way out the door.
yahoo! finance:
- Dow pops for the 7th straight day, S&P 500 climbs back above 5,200.
- Asia stocks rally on renewed global rate cut optimism.
- Recession-proof stocks are leading the market’s latest pop.
- Arm sinks as downbeat revenue outlook clouds AI hopes.
Markets are all positive with the S&P 500 above 5,200 again. Nvidia’s earnings report is only scheduled for 22 May.
Global Indexes
S&P 500
The S&P 500 closed on 5214 as the 5,200 was seen as hurdle.
DAX
The DAX had no problem in breaking its top resistance.
HANG SENG
The HANG SENG opened with a gap to extend its current positive trend.
NYSE & NASDAQ Stocks
FedEx Corporation
The correction of FedEx closed its open window (gap) caused by earnings beat. It now bounced off its 200 DMA support in oversold territory.
Home Depot Inc
Its 200 DMA acted as support for Home Depot’s turn in developing a new positive trend.
JSE Stocks
JSE All Shares
The JSE All Shares is following global markets higher.
Anglo American PLC
Anglo America is forming a flag. A breakout out of the flag will be new direction. We expect a break to the top as Frontrunner warned that a new high is coming.
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.
