On Wednesday (01 May 2024), $Qualcomm(QCOM)$ reported fiscal second-quarter profit of $2.33 billion. It also reported profit of $2.06 per share. Earnings, adjusted for one-time gains and costs, came to $2.44 per share. The results exceeded Wall Street expectations. The chipmaker posted revenue of $9.39 billion in the period, which also topped Street forecasts. Next Earnings Guidance For the current quarter ending in June, Qualcomm expects its per-share earnings to range from $2.15 to $2.35. Qualcomm expects revenue in the range of $8.8 billion to $9.6 billion for the fiscal third quarter. Qualcomm stock trades at just about 17x consensus 2024 earnings, which is a reasonable valuation. While this is partly because revenues and earnings are project

After Fed Chair has commented that rate hike might not be in the horizon, and we saw oil futures and the yield on the 10-year Treasury note were lower. Gold prices rose. The U.S. dollar lost ground to the euro and yen, but gained versus the pound. Most major cryptocurrencies traded lower. But what I would like to discuss in this article is how bond yields and gold are related and how we can plan our investing and trading strategy around it. Bond Yields and Gold Positive Relationship Not Confirmed? If we were to take a look the relationship between Gold and the bond market, there is not really confirmation of a positive relationship. The chart below presents the price of gold and the 10-year Treasuries (we took the yields and inverted them). As one can see, the price of gold was rising

Yesterday we saw the major stock indices experienced limited fluctuation in early trading as investors awaited key market events. The advance-decline line showed a slight preference for advancers at both the NYSE and NASDAQ. Market initially showed little reaction after the Federal Open Market Committee's (FOMC) unanimous decision to maintain the fed funds rate at 5.25-5.50%. But stocks start to rally after Fed Chair Powell indicated that a rate hike was unlikely in the near future. This statement prompted a drop in market rates, with major indices subsequently rising by over 1.0%. But the market ended yesterday session with only Dow Jones in the green. The short rally after Fed Chair comment evaporated quickly. Treasury Note Yield Fell After Fed Funds Rate Changes. The yield on the 2-yea

We saw a significant downturn in the stock market yesterday, with NASDAQ experiencing a 2.0% drop, more than the S&P 500 and Dow Jones Industrial Average, which fell by 1.6% and 1.5% respectively. The decline was exacerbated towards the close due to a wave of end-of-month selling, reflecting a broader trend of de-risking throughout April. We also saw Gold contract going below $2,300 and the Crude Oil WTI also fell below $82 per barrel. Significant Losses From Tech Stocks Notable losses were recorded by NVIDIA (NVDA) and Meta Platforms (META), despite both companies showing early gains during the day. NVIDIA closed down at $864.02, a 1.5% decrease, after initially peaking with a 1.2% gain. Similarly, Meta Platforms ended the day at $430.17, down 0.6%, after an early increase of 1.6%. R

$Block(SQ)$ is expected to release earnings on 02 May 2024 after the market closes (AMC). Like many of the fintech firms, Block has been struggling to get their stock prices up. Block stock has been trading around $70 (±$20) for almost the last two years. If we look at Block, we could see that Block is actually one of the companies that was seen as a high-growth alternative to $PayPal(PYPL)$ with the drawback being that this company did produce the kind of profits PayPal did. And Block’s core business has shown no substantial slowdown in growth, and management appears to be executing very well. The drawback to me is no longer a cause for concern, as Block has recently turned profitable

We have seen how $Tesla Motors(TSLA)$ stock price managed to surge despite a not so impressive earnings result. So this is also one of the learnings we can actually take note, there are other factors like investors confidence and their belief in technology. This seem to be the case for Tesla, they are always innovating, but while market is concerned about the numbers and money, we need to be able to see the long-term value of the technology that Tesla bring. Ark Invest Cathie Wood Long Term Conviction On Tesla On Sunday, when Tesla CEO Musk posted on X that Tesla is planning to spend around $10 billion in 2024 in “combined training and inference AI, for AI focus primarily in car.” There is one important statement that I personally feel is Musk com

Yesterday we saw the stock making upward trend for most of the session. That is well supported by the rebound in major indices from last week. Even though we saw some volatility in the afternoon session which came from the Treasury Department's quarterly borrowing estimates, market still managed to recover and close in the Green. The Treasury's announcement that Q2 borrowing is projected at $243 billion, $41 billion more than previously estimated, caused a brief dip in stocks at 3:00 PM US eastern time. However, the market rebounded, with many stocks closing the session on a positive note, leading the equal-weighted S&P 500 to a 0.3% gain, ahead of this week's Federal Reserve meeting, jobs data, and big-name earnings reports. Significant Stock Movements Meta Platforms (META) saw a decr

$Pfizer(PFE)$ will be reporting first-quarter 2024 results on 01 May 2024 before market open. Pfizer’s first-quarter revenues is estimated to stand at $13.86 billion, while the same for earnings per share is pegged at 56 cents, both indicating significant declines from the year-ago quarter. Their top-line numbers in the first quarter of 2024 will include revenues from the acquisition of Seagen, which closed in mid-December 2023. The acquisition added Seagen’s antibody-drug conjugates or ADCs — Adcetris, Padcev, Tukysa and Tivdak — to Pfizer’s cancer portfolio. Pfizer’s revenues are expected to have declined in the first quarter of 2024 due to steep declines in revenues from its COVID-19 products on lower demand, this is excluding Seagen revenues.

$Apple(AAPL)$ will report fiscal Q2 earnings as the share price trades down nearly 12% YTD, underperforming the broader market. This selloff is due to concerns over iPhone sales in China, a weaker consumer environment, and slow start to the AI race. So the earnings will be focus on these two areas : declining iPhone sales in China and its generative artificial intelligence strategy. iPhone - Primary Generator Of Apple’s Revenue I think the drop in iphone sales in Apple’s market, China, would be something that will be on investors’ mind. Apple's weak iPhone shipments in China have become well known. Apple's weekly iPhone sell-thru during the first quarter of 2024 declined by 20% year over year in China, according to Counterpoint Research. Apple had

We have the stock market showing signs of recovery after a slow start to the month, this has been supported by positive earnings reports from key companies and stable Treasury prices. Here is a summary of what we have in the last week. The Dow Jones Industrial Average (DJIA) increased by 0.7%. The S&P 500 saw a 2.7% rise. The Nasdaq Composite enjoyed a 4.2% gain. All 11 sectors of the S&P 500 experienced growth, with the information technology, consumer discretionary, and communication services sectors leading the way. Significant Stock Performance Drive Up Market We have several mega-cap companies reporting their earnings, and these earnings has influence the market. Meta Platforms fell 7.9% following their earnings report because of questionable AI spending. On the other hand,

Last week we saw Amazon’s peers and competitors, $Microsoft(MSFT)$ and $Alphabet(GOOGL)$ reported impressive quarterly results. Both have cited AI and stronger overall cloud demand. So this has also boosted the market confidence about the Amazon’s upcoming report, this will give investors the optimism. Investors are eagerly expecting whether $Amazon.com(AMZN)$ earnings will help to catalyse the stock price like how the previous earnings have gave. We have seen Amazon surprised with upside EPS in four out of the last five quarters. As seen in the implied straddle, we are seeing a pretty decent price effect of more than 5% in the last 3 past earnings, when Amazon

If we look at how the economic data played out last week, we could see $CME Bitcoin - main 2405(BTCmain)$ experiencing a “re-acceleration” of its bull market, this new US economic shifts might trigger a liquidity comes roaring back to the economy this week. Forget About The Fed. Crypto Bull Market is Next The market expectation of a rate cut this coming 01 May 2024, look like almost impossible, with only 2.5% possibility, this is what Bitcoin and altcoins think of little hope for U.S. Federal Reserve dropping interest rates soon to attract more liquidity into the economy. Actually we should be watching Treasury Secretary Janet Yellen, instead of Fed for the liquidity flow. On 29 April 2024, the U.S. Treasury will release the quarterly refund

Meta's plan to invest more heavily in artificial intelligence infrastructure caused $Meta Platforms, Inc.(META)$ stock to sink Thursday, but the tech giant's capex news lifted AI stocks, particularly shares of tech hardware companies, including $NVIDIA Corp(NVDA)$ . With $Alphabet(GOOGL)$ earnings Alphabet beats revenue estimates as AI fuels cloud growth, the cloud services revenue rose 28% to $900 million in quarter. Alphabet announced 20-cent dividend and $70 billion share buyback. AI Monetization Is Next To Look At In the earnings call for comments on AI, there have been pattern of big tech earnings over the next two weeks as companies prioritize technology o

We saw the stock market experienced yet another mixed day, with major indices recovering from significant early losses to close with only modest declines. At the start, the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average saw drops of 1.6%, 2.3%, and 1.8% respectively, but ended the day with losses ranging from 0.5% to 1.0%. Investors are influenced by the negative earnings reactions for key companies and concerns over economic growth and Federal Reserve rate policies, this has in turn caused the early downturn. One of the big name is META. What Moves The Market? Sectors Managing Gains The negative earnings reports from Meta Platforms, IBM, and Caterpillar significantly impacted the market. We also saw economic reports that show weaker growth slows to 1.6% while inflation st

We saw the stock market show mixed results on 24 April 2024, major indices was fluctuating around their previous closing levels. Overall market breadth was generally negative, with more stocks declining than advancing on both the NYSE and NASDAQ. The S&P 500 remained nearly unchanged. The Nasdaq Composite saw a slight increase of 0.1%. The Dow Jones Industrial Average experienced a minor drop of 0.1%. The Russell 2000 fell by 0.4%. Amidst mixed earnings reports, IBM and Meta Platforms lead the market movement, with Meta declining more than 15% after their earnings report. Earnings Announcements Influenced Market There are several earnings announcement which has an influence on the market yesterday (24 April), Tesla surged 12% after announcing plans to start production of affordable mod

This week earnings season continues to be a wild ride. While the EPS beat rate are coming in strong, many stocks are reporting severe price declines even after posting decent results. The latest one we saw this morning is $Meta Platforms, Inc.(META)$. Meta faced high expectations heading into the report as its stock gains grew and estimates rose. So even though Meta beat revenue expectations for the latest quarter and essentially matched expectations with its outlook. Meta issued a weaker than expected second-quarter revenue forecast, that send its shares and their internet peers down in Wednesday (24 April) after-hours trading. One factor is also Meta's heavy spending push, directed toward areas like artificial-intelligence hardware and the comp

As we have seen $Palantir Technologies Inc.(PLTR)$ trading in quite a volatile state in recent weeks, With investors feeling positive towards the tech stocks earnings, we could expect some help from that on Palantir. In this article I decided to do a technical analysis and try to see if we can find any trend of reversal and what are the factors that could contribute to either a good (bullish) reversal or poor (bearish) reversal. Palantir Saw A Falling Wedge Trend Looking at how Palantir have been trading since March 2024, we could see a falling wedge forming. Together with weak bulls (buying) strength. But if we look at how falling wedge pattern is characterized by a contracting range between two converging trendlines slanting downward. This patte

We saw the stock market started the day on a positive note and maintained its momentum, ended the day near its highs. There are minimal selling pressure at the index level help to create this upbeat session. Other factors like positive reactions to earnings reports, lower market rates, and widespread buying interest helps to maintain this upbeat session. Both small-cap and mega-cap stocks saw significant gains. The Russell 2000 Index experienced a 1.8% increase, while the $Vanguard Mega Cap Growth ETF(MGK)$ saw a 1.7% rise. Yield Down Manufacturing PMI Softer We saw a retreat from the 2-year note yield from the 5% mark, this boost the support for an early rise in stocks. The decline in yield was triggered by softer-than-expected preliminary manufa

This week we are going to see Big Tech earnings report, and at time of this writing, we have see $Tesla Motors(TSLA)$ stock price went up after hours when they pledge to accelerate launch of cheaper cars after sales miss. Big Tech’s profit Jump, Shall Prop Up S&P 500 Earnings We have finally see the stock market staying green in most of the trading sessions, but investors have already start to look at the earnings season for a dose of good news as list of stock-market worries growing seemingly by the day, I would say investors might be hanging their hopes on a familiar group: Big Tech. As we have heard news of thousands of jobs was slashed to cut costs, we would be seeing the biggest US technology and internet companies pumping out profits. We