Dow Jones futures rose slightly on Wednesday night, along with the S&P 500 and Nasdaq. The house impressed President Donald Trump soon after the market closed. On Wednesday, the stock market rally enjoyed modest gains, such as Apple shares and Intel (INTC) led by technicians with large capital. Taiwanese semiconductor (TSM), Delta Air Lines (DAL) reports earnings early Thursday.
Apple (AAPL) lit up with early buy signals on Wednesday as tech giants showed some signs of life, though that’s not entirely good news for the stock market rally. Apple iPhone and 5G chip maker Qualcomm (QCOM) also offers early entry just below the official place of purchase.
Meanwhile, new IPOs Airbnb (ABNB), Dash (DASH), Duck Creek Technologies (DCT) i ContextLogic (WISH) has broken or triggered buy signals.
The House voted to recall President Trump, and 10 Republicans joined Democrats. The vote on Trump’s impeachment referred to the president’s alleged “incitement to rebellion,” referring to the pro-Trump mafia that attacked the Capitol building on Jan. 6. Trump’s recall, the second of his four-year term, is now official. But Senate Majority Leader Mitch McConnell said he would not recall the Senate because of a speedy trial for Trump. That means the Senate recall trial would have to wait until Joe Biden is president.
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Dow Jones Futures today
Dow Jones futures rose 0.15% of fair value. S&P 500 futures rose 0.2%. Positive news about the Johnson & Johnson coronavirus vaccine slightly increased the deadlines for the S&P 500 and Dow Jones.
Futures for the Nasdaq 100 advanced 0.1%.
In the meantime, Virgo Galactic (SPCE) jumped overnight as Cathie Wood planned a space ETF for ARK funds. Tesla (TSLA) fell slightly after safety regulators asked electric vehicle manufacturers to recall 158,000 Model S and Model X vehicles due to media control unit failures that cause touch screens to fail.
Note that overnight stock in Dow futures and elsewhere does not necessarily turn into actual trading in the next regular stock trade.
Intel CEO Bob Swan Out
Intel shares rose 7% on Wednesday due to news that CEO Bob Swan will come out on February 15, replacing him with Pat Gelsinger, CEO of virtualization software vendor VMware (VMW) and former Intel head of technology. The Dow technology giant said earnings and sales in the fourth quarter would exceed its guidelines, adding that it had made progress on its 7-nanometer chips.
Advanced micro devices (AMD) sank 3.75%, once again testing support on the 10-week line .. VMware shares and parent Dell Technologies (DELL) fell 6.8% and 7.2%, respectively.
Apple, AMD and TSM shares are on the IBD Leaderboard. Apple shares are on SwingTrader. AMD shares, Taiwan Semi, AMAT and LRCX are at IBD 50.
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Coronavirus cases worldwide reached 92.69 million. The number of deaths from Covid-19 exceeded 1.98 million.
Coronavirus cases in the U.S. have hit 23.58 million and deaths more than 393,000.
The Johnson & Johnson coronavirus vaccine is safe and produces a strong immune response in young and older recipients, according to early / middle-level study data published in the New England Journal of Medicine.
Earlier, Johnson & Johnson (JNJ) said it expects full efficacy results in the late phase of testing one short coronavirus vaccine by the end of January or the first week of February. The vaccine was introduced in March. This followed a report that JNJ’s introduction of the Covid vaccine could be delayed.
JNJ shares fell 1% in late trading after falling 0.1% on Wednesday, still closing in the buying zone.
Stock Market Rally
Gathering stocks has largely progressed, with major technologies at the forefront.
The Dow Jones Industrial Average closed a share lower in stock trading on Wednesday. The S&P 500 index rose 0.2% and the Nasdaq composite 0.4%. The QQQ ETF, which tracks the Nasdaq 100 with large capital, rallied 0.7%.
Apple stocks rose 1.6% to 130.89. The Dow Jones, S&P 500 and Nasdaq components work at the point of purchase of the 138.89 cup with handle. But on Wednesday, stocks rose modestly from a 21-day exponential moving average. He also crossed or touched the downward trend line in his handle. These are the reasons for launching or adding a few more shares of Apple stock before a possible outbreak in the future.
In the meantime, Amazon.com (AMZN), Microsoft (MSFT), Netflix (NFLX) has risen slightly.
Qualcomm shares, another big technology, rose 1.9% to 157.42. The shares are on a flat basis with an official buyout point of 161.17, according to MarketSmith analysis. QCOM stocks have bounced off their 21-day and 10-week lines and are still within the reach of those lines. Meanwhile, it is trying to reach last week’s highest level, another small resistance.
On Wednesday, Qualcomm agreed to buy computer startup Nuvia, founded by former Apple chip engineers, for $ 1.4 billion.
Growth inventories as a whole lagged behind.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) sank 0.8%, while the Innovator IBD Breakout Opportunities ETF (BOUT) rose 0.3%. IShares’ expanded technology software sector ETF (IGV) decreased by 0.3%. The VanEck Vectors Semiconductor ETF (SMH) fell 0.5%. TSM shares, Intel, AMD and Qualcomm are the top SMH economies.
IPOs flashing buy signals
Airbnb shares rose 5.7% to 169.99. Shares hit 178.62 within the day, briefly clearing a base redemption point of 175.07 IPOs. But investors were able to buy ABNB shares on Tuesday when they hit a January 8 high of 155.54 or as they cleared some resistance above Tuesday’s intraday level on Wednesday.
DoorDash shares jumped as high as 215.50 before settling with a 3.2% gain to 198.17. The IPO base redemption point is 195.60. But after huge gains over the past few days, DASH shares look somewhat extended for initial entry. Investors were able to start a position perhaps slightly above the December 21 high of 173.46.
Shares of Duck Creek rose 5.5% to 47.39, rising above the buying point of 46.54 cups with lunch. Investors were also able to buy DCT shares earlier in the week as it knocked down a downward trend in its deep handle.
Shares of ContextLogic rose 14% to 23.92. This missed the official buying point of 24.85. Investors were able to buy WISH shares as it cleared its January 7 high of 21.58. Ideally, WISH stocks should be consolidated here, forming a kind of handle before they truly break through.
Taiwanese semiconductor earnings
Wall Street expects Taiwan Semiconductor earnings to rise 25% to 94 cents per share, and revenue to rise 21% to $ 12.85 billion. That would be the third consecutive quarter of a slowdown in growth.
Taiwan Semiconductor is the world’s largest chip foundry, producing chips for Apple and many others. TSM stocks benefit from multiple backwinds: the uptrend of the chip cycle, the large Apple iPhone cycle, and Taiwan’s Semi technology leadership over Intel (INTC) and others.
Taiwan’s semiconductor earnings could offer a demand signal to customers like Apple and AMD. Capital spending forecasts could be a catalyst for Applied materials (AMAT), ASML (ASML), Research Lam (LRCX) and other chip equipment manufacturers.
TSM stocks fell 3.1% to 119.23 on Wednesday, presumably on Intel CEO news.
Delta stocks are close to a buyout point, and find support in the 21-day, 50-day and 10-week moving averages. A bull bounce would provide an opportunity to buy. DAL shares are also in a flat base with 43.86 points of purchase. Shares rose 0.35% to 40.44 on Wednesday.
Analysts predict that Delta will report a loss of $ 2.41 per share with revenue falling 67% to $ 3.83 billion. Airlines face a long road to recovery.
Stock market analysis
The Nasdaq composite is now 6.5% above the 50-day line, up slightly from the previous two days but below 8% from last Friday. Still, if it doesn’t expand, the Nasdaq is at least almost extended. While it’s positive to see Apple shares and, to a lesser extent, other tech giants trying to warm up, the downside is that this could quickly overheat the wider market.
Many IPOs, fuel cell names and other speculative or “reserve” stocks are already on fire.
Whip sentiment is high. The bull and bear mood gauge, which wrote about the investment bulletins, showed that the bulk share hit 63.7% in the last week, slightly below the multi-year highs set in late December. The bear reading of 16.6% coincides with recent low temperatures. Readings above 60% are often associated with short-term withdrawal, but not necessarily immediately.
However, as long as the stock gathering continues to show strength, investors should take advantage of it. But watch out for exits.
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