Morning Dose: Tech Soars, Caution Lurks Chip Rally Sparks Split Market
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Good morning and welcome to The Morning Dose – Everything You Need to Know Before the Market Opens.
Speaker 2: It’s shaping up to be another fascinating day. Futures are pointing to a higher open across the board, building on yesterday’s momentum, especially in the tech space.
Overnight Headlines
Speaker 2: The main driver this morning is Taiwan Semiconductor (TSM) crushing their Q3 earnings. They beat on earnings per share, revenue, and gave strong Q4 guidance.
Speaker 1: A good read-through for tech sector bellwethers like NVIDIA and Apple.
Economic Announcements
Speaker 1: The President’s comments on a trade war with China have added caution. Market reflects a mix of optimism in tech and interest in defensive plays like utilities.
Earnings Highlights
- JB Hunt Transport (JBHT) gapping up almost 14% on a massive beat.
- United Airlines (UAL) down over 2% despite beating expectations, showing market complexity.
- Solid reports from BNY Mellon, Charles Schwab, KeyCorp, and M&T Bank providing a strong foundation.
Top Movers
Speaker 1: Salesforce (CRM) up over 5% on their Investor Day news, targeting $60 billion in revenue by fiscal year 2030.
Speaker 1: Hewlett Packard Enterprise (HPE) down over 8% due to guidance and restructuring news.
Quick Trade Ideas
Speaker 1: For S&P 500 ETF (SPY), watch support at 667 and resistance at 669. For QQQ, support is around 604.50 with resistance at 606.
Key Takeaway
Speaker 2: Strong earnings are lifting tech, but macro headlines and key economic releases could bring volatility. Focus on names with volume and momentum.
That’s all the time we have for The Morning Dose. Have a great trading day, everyone!