Next Day Prep: NVIDIA Surge Sparks Market Rebound
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 finally snapped its losing streak today, with a choppy session that saw intraday swings. S&P 500 closed up about four-tenths of a percent, led by the Nasdaq up zero-point-six percent.
Overnight Headlines
Morning started strong with tech strength: Alphabet at a new high, Broadcom strong, semiconductor buying ahead of NVIDIA earnings. Midday, uncertainty hit as October jobs report delayed.
Economic Announcements
Fed rate cut hopes dampened with odds dropping after FOMC minutes revealed caution. Market rebounded late on NVIDIA earnings excitement but saw rotation into defensive sectors like healthcare and energy.
Earnings Highlights
Target reported mixed: strong quarter but cautious holiday outlook. Incoming CEO’s investment plans calmed market concerns. Contrast with upbeat Lowe’s report.
Top Movers
- CVNA: Watch for potential move toward three-thirty-five on morning strength.
- LITE: Stair-step pattern higher; breakout over two-seventy-one could target two-seventy-five.
- ASMB: High-volume breakout opportunity; watch dip toward thirty-seven fifty for potential squeeze toward forty.
Quick Trade Ideas
Market showed some fight, but focus on proven leaders like CVNA and LITE. Be nimble, respect stops, and follow NVIDIA guidance closely for tech and overall market sentiment.
Key Takeaway
Be cautious with market internals; index buying may not be safest. Look for strength in individual stocks like CVNA and LITE. Pay attention to Thursday’s data dump for potential reshaping of Fed rate cut odds.