To The Moon

U.S. stocks wrapped up a volatile month on a high note Friday, as major indexes surged in late trading to close near session highs.

The Dow Jones Industrial Average gained 0.6% to close at a record high for the fourth time this week, while the S&P 500 and Nasdaq Composite gained 1% and 1.1%, respectively.

The stock market was busy this week. Investors reacted to NVIDIA's (NVDA) earnings report, the July Personal Income and Spending Report, results from leading retailers, and other high-profile technology companies. The week ended with mixed results for the indices, with the Dow Jones Industrial Average reaching a new record high.

S&P 500 Consumer Discretionary Lead The Pack

All 11 sectors closed in the green with range from +0.27% to +1.92%, Consumer Discretionary sector led the pack with +1.92% as $Amazon.com(AMZN)$ and $Tesla Motors(TSLA)$ both gained +3.71% and 3.80% respectively to push the sector to lead.

Among stocks on the move Friday, Dell Technologies (DELL) gained 4.3% after reporting better-than-expected quarterly results on the strength of AI-related sales. Shares in MongoDB (MDB) soared 18% after the company reported strong earnings and boosted its full-year guidance amid robust AI demand.

Chipmakers, which have been among the more volatile stocks in recent weeks, posted solid gains Friday, with the $iShares Semiconductor ETF(SOXX)$ up 2.6%. Marvell Technology (MRVL) rose 9.2% after a positive earnings report, while Intel (INTC) gained 9.5% following reports the chipmaker is considering the spin-off or sale of its foundry business.

Note Yield Up To Near Highest Level In 2 Weeks

2-year treasury yield was up by 2 basis point to 3.925% and the yield on 10-year Treasurys, which is sensitive to expectations around interest rates, rose to 3.911%, near its highest level in two weeks.

Stocks To Watch

$Intel(INTC)$ shares notched the best performance in the S&P 500, soaring 9.5% following reports that the chipmaker is considering a possible spinoff or sale of its foundry business. According to Bloomberg, people familiar with the matter said Intel is exploring multiple options for the section of the company that makes semiconductors for other firms. However, it may take time for Intel to make a move, with board members likely to discuss the possibilities at their meeting in September.

If we looked at the technical, it looks like this is a good time to seriously consider Intel for mid-long term investing, considering that the stock price is at a favourable level, and both MACD and KDJ is showing potential upside move.

I will be looking to load Intel as I have been monitoring it since Nvidia has not been performing after its earnings.

Western Digital (WDC) shares were up 4.1% on the day. Earlier this week, analysts at Citi boosted their sales estimates for solid-state drives, predicting favorable supply-and-demand dynamics. Western Digital also received approval this week for a project to expand hard disk production in Thailand.

Shares of networking and IT services provider Hewlett Packard Enterprise (HPE) gained 3.7% ahead of the company's upcoming earnings report, which is set for release on Wednesday afternoon. Following HPE's most recent quarterly report in June, the stock surged to a record high, boosted by strong sales of AI-optimized servers.

Nvidia (NVDA) and Broadcom (AVGO) are under investor scrutiny as they await earnings reports. Nvidia's CEO Jensen Huang emphasized the continuing AI spending boom, which has driven the company's valuation close to $3 trillion. Analysts believe this is a bullish indicator for the broader tech sector.

$Alibaba(BABA)$ climbed nearly 5% in pre-market trading after China's antitrust regulator ended a three-year investigation into the company. The State Administration for Market Regulation praised Alibaba for its compliance and rectification efforts, which included stopping monopolistic practices.

Looks like BABA is also making a move to the upside as shown from KDJ, but we might need to wait for MACD to form a more confirmed upward trend, this might not take long as investors should be coming back for BABA.

Apple (AAPL) is reportedly considering investing in OpenAI's latest funding round, which could raise concerns about its existing search deal with Google (GOOG). Bank of America analysts suggest that a large investment by Apple into OpenAI could indicate a potential long-term shift in AI partnerships.

Summary

We might be expecting another mixed trading this week following a shorter trading week, there is no big tech earnings but some of the notable earnings are on the AI software side like GitLab, C3.ai and DocuSign.

One of the semiconductor name, Broadcom earnings would be of interest as well.

Appreciate if you could share your thoughts in the comment section whether you think we would see a week of mixed trading starting from 03 Sep?

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.