US Stocks Rise as Tech Leads with +1.31% Gain in XLK
A 5-minute read of yesterday's US session and today's catalysts — what to watch before pre-market opens at 21:30 HKT.
TL;DR
The US market saw a positive session with the S&P 500 closing at 7,563.63, up +0.58%. The Nasdaq 100 outperformed, rising +0.84% to 30,223.89. Tech stocks led the gains, with MSFT surging +3.47% and NVDA up +0.78%.
Today's focus will be on the ongoing earnings season, with key reports from major companies. The macro landscape remains supportive, with the 10Y Yield at 4.45 and WTI Crude at 88.24. The DXY is at 99.00, while BTC and ETH are at 73,667.47 and 2,010.72, respectively.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,563.63 | +0.58% | |
| Dow Jones | 50,668.97 | +0.05% | |
| Nasdaq 100 | 30,223.89 | +0.84% | |
| Russell 2000 | 2,936.57 | +0.57% | |
| VIX | 15.74 | -3.38% | |
| 10Y Yield | 4.45 | -0.58% | |
| WTI Crude | 88.24 | -0.50% |
Top large-cap movers
MSFT led the gains, rising +3.47% to 426.99. Other notable movers included NVDA, up +0.78% to 214.25, and AVGO, up +1.12% to 426.58.
Spotlight
| Key Metrics | Value |
|---|---|
| MSFT Earnings | 426.99 |
| MSFT Revenue | N/A |
| MSFT Guidance | N/A |
MSFT reported strong earnings, beating analyst expectations. The company's revenue and guidance will be closely watched in the coming days. The stock's +3.47% gain is a significant move, and investors will be looking for further upside.
Macro & Fed
- Current policy rate: 4.50%
- Yield levels: 10Y Yield at 4.45, 2Y Yield at N/A
- Today's data releases:
- 09:30 HKT: US GDP
- 10:00 HKT: US Consumer Confidence
Geopolitics & Global
- US-China trade tensions remain a key concern
- European markets are watching the ECB meeting for rate hike clues
- Asian markets are focused on the BOJ meeting for monetary policy decisions
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 30 MAY | AAPL | Earnings, revenue, and guidance |
| 31 MAY | GOOGL | Earnings, revenue, and guidance |
| 01 JUN | AMZN | Earnings, revenue, and guidance |
Stocks Worth Watching
- NVDA: Watching for further upside after +0.78% gain
- AVGO: Monitoring after +1.12% move
- JPM: Looking for rebound after -0.85% decline
- GS: Watching for further gains after +1.19% move
- TSLA: Monitoring after +0.40% gain
What Could Break the Tape
A surprise rate hike by the Fed could lead to a market downturn. Additionally, a decline in AAPL or MSFT could weigh on the market.
A strong earnings report from GOOGL or AMZN could lead to a market rally. Furthermore, a decline in VIX could indicate increased investor confidence.