Next Day Prep: Tesla’s Turbulence Chinese EV Rivals Rise
A quick analysis of today’s market outlook and key trading opportunities to start your day.
Intro & Market Mood
Markets experienced a sharp decline today, with the Dow down nearly a thousand points and other indices following suit. Trade tensions and uncertainty surrounding the Fed are dominating sentiment.
Overnight Headlines
- China: Warns about US trade deals.
- Big Tech: Companies like NVDA, MSFT, and AAPL faced losses.
- Tesla (TSLA): Down nearly 6% due to delays in the Model Y rollout.
Economic Announcements
Tomorrow’s focus is on the US 2-year Treasury note auction worth $69 billion. Overseas, the Nikkei fell, while Shanghai saw a modest gain. Gold prices surged, but crude oil dipped.
Earnings Highlights
- Positive: Ascentage Pharma (AAPG) and AstraZeneca (AZN) show promising results.
- Negative: Tesla’s Model Y delay could lead to a period of stagnation, echoing a Briefing.com report’s concerns.
Top Movers
- Positive: Ameresco (AMRC) forays into solar parks in Romania; Ascentage Pharma (AAPG) sees inclusion in Chinese guidelines.
- Negative: Tesla (TSLA) faces competition from NIO and BYD in the EV market.
Quick Trade Ideas
Watch for potential trading opportunities in companies like AMT, PTCT, SBAC, SBSW, and FNV with breakout and continuation setups. Maintain tight stop-loss levels and monitor market breadth indicators.
Key Takeaway
Stay vigilant amidst ongoing geopolitical tensions, mixed market signals, and upcoming earnings reports. Seek opportunities in selective sectors and stocks while keeping an eye on economic data and potential impact on market sentiment.