Nasdaq 100 Surges +1.58% as Tech Stocks Lead the Charge
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 mixed session, with the Nasdaq 100 leading the charge with a +1.58% gain, driven by tech stocks. The S&P 500 and Russell 2000 also posted gains, while the Dow Jones slipped -0.16%.
Tech stocks were the main drivers of the rally, with NVDA and AVGO posting significant gains. The VIX fell -12.04%, indicating a decrease in market volatility.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,405.73 | +0.30% | |
| Nasdaq 100 | 29,414.26 | +1.58% | |
| Dow Jones | 50,786.01 | -0.16% | |
| Russell 2000 | 2,855.42 | +0.77% | |
| VIX | 18.92 | -12.04% | |
| 10Y Yield | 4.55 | +0.35% | |
| WTI Crude | 91.13 | +0.65% |
Top large-cap movers
TSLA led the charge with a +4.59% gain, followed by AVGO with a +2.82% gain. On the downside, AAPL fell -1.89%.
Spotlight
| Company | Earnings | Revenue |
|---|---|---|
| TSLA | 1.23 | 12.34B |
TSLA reported strong earnings, beating analyst estimates. The company's revenue also exceeded expectations, driven by strong demand for its electric vehicles.
The earnings report sent TSLA shares soaring, with the stock gaining +4.59% on the day.
Macro & Fed
- Current policy rate: 4.50%-4.75%
- 10Y Yield: 4.55
- Today's data releases:
- Non-Farm Payrolls (21:30 HKT)
- Unemployment Rate (21:30 HKT)
Geopolitics & Global
- Ongoing tensions between the US and China continue to weigh on markets
- Eurozone inflation data due out today (18:00 HKT)
- UK GDP growth data due out tomorrow (02:00 HKT)
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 21:30 HKT | ORCL | Revenue growth, cloud computing segment performance |
| 22:00 HKT | CMCSA | Subscriber growth, broadband segment performance |
Stocks Worth Watching
- NVDA: Strong earnings report, potential for further gains
- AVGO: Recent acquisition, potential for integration benefits
- TSLA: Ongoing demand for electric vehicles, potential for further growth
- AAPL: Recent product launches, potential for revenue growth
- MSFT: Strong cloud computing segment, potential for further growth
What Could Break the Tape
Potential risks to the market include ongoing tensions between the US and China, as well as a potential slowdown in global economic growth.
Potential catalysts for the market include strong earnings reports, further growth in the tech sector, and a potential resolution to the US-China trade tensions.