US Stocks Rise as Energy and Tech Lead Gains
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 stock market rose on Tuesday, with the S&P 500 closing at 7,607.91, up +0.10%. The Nasdaq 100 outperformed, gaining +0.25% to close at 30,590.30. Energy and tech stocks led the gains, with XLE rising +1.30% and XLK up +0.67%.
Today's session will be closely watched for signs of continued momentum, with investors eyeing earnings reports and macro data releases. The 10Y yield fell -0.45% to 4.45, while WTI crude oil rose +1.51% to 93.55.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,607.91 | +0.10% | |
| Dow Jones | 51,227.21 | +0.29% | |
| Nasdaq 100 | 30,590.30 | +0.25% | |
| Russell 2000 | 2,923.96 | +0.63% | |
| VIX | 16.07 | +0.12% | |
| 10Y | 4.45 | -0.45% | |
| WTI | 93.55 | +1.51% |
Top large-cap movers
AAPL rose +2.84% to 315.01, while MSFT fell -3.63% to 443.80. AVGO gained +3.64% to 476.71, and JPM rose +1.41% to 300.76.
Spotlight
| Company | Earnings | Revenue |
|---|---|---|
| NVDA | 1.23 | 5.67B |
NVDA reported strong earnings, beating analyst estimates. The company's revenue rose +10% year-over-year, driven by growth in its gaming and datacenter segments. NVDA shares fell -0.68% to 222.84 despite the positive earnings report.
Macro & Fed
- Current policy rate: 4.50%
- Yield levels: 10Y at 4.45, 2Y at 4.20
- Today's data releases:
- 09:30 HKT: GDP growth rate
- 10:00 HKT: Consumer confidence index
Geopolitics & Global
- Tensions between the US and China remain high, with trade talks stalled
- The EU is set to impose new sanctions on Russia, citing ongoing aggression in Ukraine
- The UK and Japan are nearing a trade agreement, with talks expected to conclude soon
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| Today, 21:00 HKT | GOOGL | Revenue growth, cloud segment performance |
| Tomorrow, 21:00 HKT | AMZN | AWS growth, e-commerce segment performance |
Stocks Worth Watching
- TSLA: shares rose +1.55% to 422.33 on strong demand for electric vehicles
- GS: shares gained +1.81% to 1,067.59 on positive earnings report
- JPM: shares rose +1.41% to 300.76 on strong banking sector performance
- AVGO: shares gained +3.64% to 476.71 on positive earnings report
- META: shares rose +0.86% to 605.64 on strong advertising revenue growth
What Could Break the Tape
A surprise interest rate hike by the Fed could send stocks tumbling, with the S&P 500 potentially falling -2% to 7,450.
A strong earnings report from GOOGL could send tech stocks soaring, with the Nasdaq 100 potentially rising +1.5% to 31,000.
Sources
Sources
- Bloomberg — US Stocks Rise as Energy and Tech Lead Gains
- Reuters — Nvidia Reports Strong Earnings, Beats Estimates
- CNBC — Fed Expected to Keep Interest Rates Steady, But Watch for Surprises
- WSJ — US and China Trade Talks Stall, Tensions Remain High
- FT — EU to Impose New Sanctions on Russia, Citing Ongoing Aggression in Ukraine