Next Day Prep: Market Insights Big Guns Report, But InMode Stumbles
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Today’s market was choppy with a wait-and-see attitude as investors brace for a flurry of earnings reports and economic data releases such as Microsoft, Meta, Apple, and Amazon among others. Notable movements in sectors like utilities, real estate, and tech were observed with the S&P and Dow managing slight gains while the Nasdaq struggled.
Overnight Headlines
- InMode (INMD) missed earnings due to sluggish US demand, contrasting with strong international growth.
- Opera reported impressive revenue growth, defying the trend with raised guidance.
Economic Announcements
Upcoming reports include trade data, retail inventories, housing prices, and consumer confidence which will likely shape market sentiment.
Earnings Highlights
- Domino’s missed on revenue, while VinFast‘s progress, though promising, remains a small piece in the EV sector.
- Midland States Bancorp restated financials, sparking investor concerns in the banking sector.
Top Movers
Notable price actions and developments in key sectors include:
- Regeneron (REGN) gaining EU approval for Lynozyfic and Sabre selling its Hospitality Solutions unit.
Quick Trade Ideas
Consider potential trade setups in TRI, TYRA, and RAIN, with detailed support, resistance levels, and price targets mentioned in the conversation.
Key Takeaway
Stay informed on sector rotations, specific stock analyses, and broader market implications to make well-informed trading decisions. Remember to manage risks effectively and adapt to market conditions.