Next Day Prep: Market Alert Semiconductors Signal Growth Surge
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Welcome to Next Day Prep – What We Are Watching Tomorrow! The market showed a broad advance today with a pro-cyclical flavor, led by small-caps, mega-cap names, and semiconductors.
Overnight Headlines
- April JOLTS report showed a pickup in job openings.
- OECD tweaked down its 2025 global GDP growth forecast.
- China’s Caixin Manufacturing PMI stood at 48.3, weakest since 2022.
Economic Announcements
- Factory orders for April were soft, down 3.7% month-over-month.
- May ADP Employment Change and ISM Services data are key events for Wednesday.
Earnings Highlights
DG (Dollar General) surged nearly 16% with strong Q1 results, beating EPS expectations and raising guidance.
Top Movers
NVDA (NVIDIA) led the Information Technology sector, up nearly 3%. Energy, Materials, and Industrials also saw gains.
Quick Trade Ideas
- Continuation Plays: Keep an eye on AVGO, INTU, and EYPT for potential momentum.
- Anticipation Setups: Watch X, FICO, and CVNA for breakout opportunities.
Key Takeaway
Traders should monitor key support and resistance levels closely, watch for volume confirmation on breaks, and manage risk amidst headline risks on trade and tariffs. Proceed with caution in this cautiously bullish market.