Next Day Prep: Tech Sell-Off Ignites Semiconductor 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! Wednesday’s session felt like a total tug-of-war in the markets. The Dow’s record streak was snapped, and the S&P remained flat as a pancake.
Overnight Headlines
- January jobs report: 130,000 payrolls added versus 68,000 expected.
- 10-year yield up to 4.17%, causing rotation from mega-cap tech to hardware.
- Software sector sells off while semiconductor stocks surge.
- Earnings highlights: Generac up 17%, Robinhood down 9%.
Economic Announcements
Thursday’s key data includes Jobless Claims and Existing Home Sales at 10 AM Eastern Time.
Earnings Highlights
- Generac (GNRC): Up 17% due to bets on grid instability and industrial demand.
- Robinhood (RBNHD): Missed revenue, down nearly 9%.
Top Movers
- Sandisk and Micron up nearly 10% each in the semiconductor space.
- Zillow (Z): Stock down 12% despite Q1 revenue guidance above expectations.
Quick Trade Ideas
Watch for potential bounce or further sell-off in Zillow based on mortgage rate influence and market sentiment.
Key Takeaway
Market sentiment influenced by rising yields and sector rotation. Watch support levels on the SPY and Qs for potential market direction clues.