Next Day Prep: Tech Surge Fuels Mega-Cap Party
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Stocks surged following Trump’s tariff announcement, with major gains seen in mega-cap tech companies like NVDA, AAPL, TSLA, MSFT, and AMZN.
Overnight Headlines
- China hit with a tariff increase to a whopping 125% while other countries saw a relief surge.
- Tech led the market rally with a 14% increase, accompanied by the consumer discretionary and communication services sectors.
Economic Announcements
Tomorrow brings key data releases including CPI figures, Initial and Continuing Claims, natural gas inventories, and the Treasury budget.
Earnings Highlights
Delta Air Lines reported a strong Q1 performance despite a domestic leisure travel slump.
Top Movers
- NCNO: Potential reversal indicated with key levels to watch for entry and targets.
- WING: Set up for a short-term spike with support and targets identified.
- HCA: Possible buying opportunity as it approaches resistance levels.
Quick Trade Ideas
- DRIP: Building bullish momentum with potential for a breakout past $13.30 resistance.
- QID: Showing resilience for a short-term bullish play after bouncing off support.
- SRTY: Recovering off lows, monitoring for a breakout above $26.
Key Takeaway
Traders should watch pre-market movers like Amazon and key earnings reports, manage risk, and stay alert for market turbulence.