Next Day Prep: Semiconductor Surge NVIDIA Leads, Memory Chip Stars
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. Today’s market felt like a tug-of-war with a lack of conviction. The looming government shutdown in Washington is creating uncertainty, keeping buyers cautious.
Overnight Headlines
- Energy sector down nearly two percent on reports of potential OPEC+ oil production increase.
- Semiconductor stocks showed strength; Western Digital (WDC) up over nine percent, Seagate (STX) up over five percent.
- Electronic Arts announced a $55B all-cash deal, impacting the gaming sector.
Economic Announcements
No major economic announcements highlighted.
Earnings Highlights
- Carnival Cruise Line beat earnings and raised guidance, stock sold off in classic “sell the news” event.
Top Movers
- Western Digital (WDC) with a strong close, potential for a squeeze towards key levels.
- AppLovin (APP) and AutoZone (AZO) also showed powerful closes.
- ABAT in the EV battery space had a significant afternoon reversal, higher risk play.
Quick Trade Ideas
Watch for continuation setups in WDC, APP, and AZO for potential moves towards key levels. Consider speculative plays like ABAT cautiously.
Key Takeaway
Exercise cautious optimism, focus on relative strength in names like WDC and APP, monitor key index levels, and stay informed on Washington headlines.