Megacap stocks came on strong last week, but from off or near bear-market lows. $Apple(AAPL)$ Apple and Microsoft $Microsoft(MSFT)$ reclaimed their 50-day moving averages.
One laggard is Tesla stock, which hit a two-year low last week. $Tesla Motors(TSLA)$ Tesla is under pressure from CEO Elon Musk's wild start to owning Twitter. Meanwhile, concerns about China demand continue, even after an Oct. 24 price reduction and a recent return of insurance subsidies.
Graphics and data-center chip giant NVIDIA$NVIDIA Corp(NVDA)$ headlines a still-active earnings season. Strong Nvidia earnings and guidance, along with results from semiconductor equipment maker Applied Materials $Applied Materials(AMAT)$ , could keep the chip rebound going, a positive sign for the market rally. NVIDIA stock has rallied powerfully over the past four weeks, but is still well below its 200-day line.
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