[GV News]

Wall Street opens with gains as US-UK finalize trade deal, tech stocks rally

 

Wall Street saw optimism in early trade on Thursday, May 8, after U.S. President Donald Trump announced that the U.S. and U.K. have agreed on a trade deal.

At 7.20 pm IST or 9.50 am ET, the Dow Jones index was higher by 185 points or 0.45 percent, the tech-heavy Nasdaq index gained 100 points or 0.55 percent, while the broader S&P 500 index ticked up 25 points or 0.45 percent.

“The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come,” said President Trump, in a post on Truth Social.

The U.S. President will reveal further details at 10 am ET. Trump also added that there are more deals, which are in serious stages of negotiation.

Tech stocks gained on Wednesday following reports that the Trump administration plans to roll back upcoming AI chip restrictions introduced under the Biden administration. The controls were set to take effect later this month.

Chipmakers led the rally, with Intel jumping 3.3 percent, AMD rising over 3 percent, and Nvidia edging up 0.5 percent. Among megacaps, Meta and Amazon gained more than 1 percent, while Tesla surged more than 3 percent.

Nasdaq Chart

[GVI Forex 2]

NAS100 4 HOUR CHART -What is AT showing?

Downside at risk if…

2 blue AT lines (aka directional indicator) show potential for a change in NASDAQ direction (i.e. down) BUT ONLY IF 19642 (tested) is firmly broken. Otherwise, current range stays intact.

Back above 20091 would be needed to break this pattern.

AT = The Amazing Trader (link is in the top menu bar)

[GVI Forex 2]

NASDAQ100 4 HOUR CHART = Watch 20K

Brief test above 20K+ so far not holding, which is needed for the strong rebound to have more to it.

On the downside, 19644 is the key level that needs to hold along with the trendline to keep 20K on the radar.

[Alex Lugano]

Wall Street stocks buoyed by strong economic data, possible US-China trade talks

 

Key points:

·         S&P 500 and Dow hit 9-straight day of gains

·         U.S. economy adds 177,00 jobs

·         Apple slips as tariff costs weigh

·         Indexes up: Dow 1.39%, S&P 500 1.47%, Nasdaq 1.51%

 

Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the U.S. and China.

The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports.

“The stock market is cheering this morning’s payroll report but I have to point out that job growth did slow on the month and I haven’t seen too many comments about that,” said Talley Leger, chief market strategist at The Wealth Consulting Group.

The S&P 500 also reached its ninth consecutive session of gains, matching a winning streak from 2004, while the Dow hit a nine-day winning streak for the first since December 2023. For the week, the S&P 500 gained 2.9%, the Dow climbed 3%, and the Nasdaq added 3.43%.

The Dow Jones Industrial Average  DJI rose 564.47 points, or 1.39%, to 41,317.43, the S&P 500  SPX gained 82.54 points, or 1.47%, to 5,686.68 and the Nasdaq Composite  IXIC gained 266.99 points, or 1.51%, to 17,977.73.

[Alex Lugano]

Apple – AAPL

The Market Rally Is Strong, This Would Send It Stratospheric

Apple and Amazon earnings normally steal the show. But the “will they won’t they” trade relationship between the U.S. and China is grabbing their limelight.

The Nasdaq Composite is now back above its April 2 levels, recovering from its losses after President Donald Trump’s reciprocal tariffs announcement spooked markets. The S&P 500 is just 1.2% off where it was a month ago after its winning streak extended to an eighth day Thursday.

Apple Outlines How It’s Shielding Itself From Trade War

Apple notched $95.4 billion in revenue for the March quarter with minimal tariff impact. But CEO Tim Cook said that a majority of current-quarter U.S. iPhone sales will come from India, which currently faces no tariffs on smartphones. The rest will come from China as the U.S. trade war continues.

·         For the second quarter, Apple reported better-than-expected results, with adjusted earnings of $1.65 a share. iPhone revenue rose 2% from a year ago, to $46.8 billion. But Greater China revenue missed expectations by almost a billion dollars, down 2% from last year, to $16.0 billion.

·         Apple said it expects June quarter revenue to grow low-to-mid single digits from last year, when revenue was $85.8 billion. At a 1% growth rate, Apple would have third-quarter revenue of $86.7 billion. At 6%, it would be $91.0 billion. The range would put it in line with Wall Street expectations at the midpoint.

 

[Alex Lugano]

UK Stocks Starts May on Negative Note
 

Key points:

·         FTSE flat, other bourses shut

·         Investors cheer to US-Ukraine deal

·         Bullish updates from Microsoft, Meta

·         Nasdaq futures up 1.7%

 

The UK’s FTSE 100 opened slightly lower on Thursday, trading around 8,470, as traders continued to digest weak economic data from the US and the ongoing earnings season.

Attention now turns to upcoming UK economic indicators, with consumer credit and mortgage approval figures due later today.

On the corporate front, Lloyds fell 2% in early trading following its Q1 update, while BP and Centrica posted larger losses.

Persimmon declined 2.3% after its latest trading statement, despite maintaining confidence in meeting full-year goals.

Rolls-Royce bucked the trend, rising 3.3% after highlighting a robust start to the year

 

[GVI Forex 2]

NAS100 DAILY CHART – 20K looms as an obstacle

Still trying to build momentum but NASDAQ would need 20K+ and stay there to suggest more scope to this recovery.

[Alex Lugano]

US Stocks Gain Slight Traction

US stocks gained some traction on Tuesday, extending the period where equities track price developments in the Treasury market after pessimistic economic data and corporate signals supported wages of incoming rate cuts.

The S&P 500 and the Nasdaq were higher, and the Dow gained 200 points.

Job openings in the US were at 7.19 million in March, lower than expected, while the CB sentiment survey pointed to a surge in pessimism.

Markets moved to price 100bps in cuts by the Fed for the year, compared to the central bank’s 50bps signal last month.

Honeywell and Pfizer jumped more than 5% and 4% each on strong earnings, and software companies were higher across the board.

Still, trade and economic policy uncertainty drove UPS to refrain from giving a full-year outlook, pressuring their shares by 2%.

Also, GM sank 4% after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs.

Likewise, tariff concerns drove the US to post its largest trade cap on record.

 

DJI Index Technicals

[GVI Forex 2]

NAS100 DAILY CHART – 20K or bust

Trying to build momentum but NASDAQ would need to move above 20K and stay there to suggest more scope to this recovery.

[GVI Forex 2]

NASDAQ 100 4 HOUR CHART– Obstacles on the radar

19217 and 19848 are current obstacles to 20000, the level that will ultimately dictate the nasdaq fate.

Needs to hold above 18465 to keep a bid on dips.

[GVI Forex 2]

Nasdaq – NAS100 4 HOUR CHART– Obstacles ahead

Recovery leaving a gap on charts that would need to take out 19217 and 19858 to suggest more legs to this rebound.

Looking for clues: continue to watch the reaction to headline news

 

[Alex Lugano]

Latest on Indices

Trump hit back on Thursday, saying in a post on his social media platform Truth Social that Powell’s termination “cannot come fast enough” and calling for the U.S. central bank to cut interest rates.

Traders have scaled back bets of a May rate cut to about 10%, according to CME’s FedWatch, while a Reuters poll showed economists see a higher probability of a U.S. recession in the next 12 months.

On the day, however, data showed weekly jobless claims came in lower than expected, suggesting the labour market remains stable.

Ahead of the long weekend, all three major Wall Street indexes are on track for their third weekly decline in four, with the S&P 500  SPX on pace to lose about 1.5% after its best week since November 2023.

At 11:45 a.m. ET, the Dow Jones Industrial Average  DJI fell 506.08 points, or 1.28%, to 39,163.31, the S&P 500  SPX gained 12.25 points, or 0.23%, to 5,287.95, and the Nasdaq Composite  IXIC lost 39.30 points, or 0.23%, to 16,269.24.

The S&P 500 posted two new 52-week highs and two new lows. The Nasdaq Composite recorded 19 new highs and 99 new lows.

[Alex Lugano]

Wall Street mixed in choppy trading; UnitedHealth plummets

Key points:

·         Indexes: Dow down 1.28%, S&P 500 up 0.23%, Nasdaq down 0.23%

·         US-Japan tariff talks on radar

·         Alphabet falls after ruling

·         Insurers slump after UnitedHealth results

 

U.S. stock indexes were mixed in choppy trading on Thursday as investors weighed progress in trade negotiations with Japan against concerns about the monetary policy outlook, while a slump in UnitedHealth’s shares weighed on the Dow.

Investors found some optimism from U.S. President Donald Trump’s comments on “big progress” in trade talks with Japan after steep losses on Wednesday, but an early recovery quickly fizzled out.

Meanwhile, UnitedHealth  UNH plunged 23% and weighed on the blue-chip Dow  DJI after the insurer lowered its annual profit forecast on expectations of high medical costs for the rest of the year.

Other health insurers slumped, with CVS Health  CVS down 2.5% and Humana  HUM falling 6.7%.

Focus will be on tariff negotiation talks with dozens of countries over the coming weeks for more clarity on the size and scope of tariffs on individual nations and sectors.

[Alex Lugano]

Nasdaq composite poised to be chipped at the open

Key points:

·         US equity index futures red: Nasdaq 100 down >1.5%

·         Mar retail sales MM, Ex-Autos MM > ests; Mortgage index < prior

·         Euro STOXX 600 index off ~0.5%

·         Dollar down; bitcoin slips; crude up ~1.5%; gold up ~2.5%

·         US 10-Year Treasury yield edges up to ~4.34%

NASDAQ COMPOSITE POISED TO BE CHIPPED AT THE OPEN

Ahead of Wednesday’s open, e-mini Nasdaq 100 futures  NQ1! are trading down more than 1.5%.

This, with chip darling Nvidia  NVDA slumping after the company flagged steep charges from new U.S. curbs on chip exports to China, fuelling worries about the fallout of an escalating trade war.

Technicals NASDAQ

 

[Alex Lugano]

Shares skid as Nvidia hurt by US chip-sale curbs, gold hits record

·         Nvidia slumps 6% after hours as U.S. chip curbs

·         European and Asian stocks fall with U.S. futures

·         Gold climbs 3%, dollar slides and safe-havens jump

·

·         Asian and European shares fell on Wednesday along with U.S. stock futures as AI darling Nvidia took a hit from U.S. restrictions on chip sales to China amid the intensifying global trade war, while gold climbed to a record and the dollar slid.

·         Treasury yields dipped slightly ahead of a speech from Federal Reserve Chair Jerome Powell later in the day. Traders are wondering if he will echo the dovish tone set by his colleague Fed Governor Christopher Waller.

·         Overnight, Washington issued new export licensing requirements for Nvidia’s  NVDA H20 and AMD’s  AMD MI308 artificial intelligence chips to China. Nvidia’s shares slumped 6% in after-hours trading, after it said the move would cost $5.5 billion.

·         “This disclosure is a clear sign that Nvidia now has massive restrictions and hurdles in selling to China,” said Daniel Ives, analyst at Wedbush Securities

·         European stocks fell in early trading, with the STOXX 600 index  SXXP down 0.9%. U.S. S&P 500 futures  ES1! fell 0.7% while Nasdaq futures  NQ1! dropped 1.3%.

·         The selloff in Asian stocks gathered pace in the afternoon. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1%, snapping a four-day winning streak.

·         Chinese blue chips  rose 0.3%, as investors also digested some solid GDP data that predated the tariff increases in April, but the Hong Kong Hang Seng index fell 1.9%.

Brought to You by Reuters

[GVI Forex 2]

Nasdaq back to flat, Russell in the red.

[Belgrade Bobby]

Nasdaq – NDX

2.500 pips rebound – guys meant it seriously…

Resistance: 19.500 & 20.350

Support: 18.300 & 16.950

Scary ranges…

This is something Trump Was right about – some people will get very rich 🙂

[Alex Lugano]

Treasuries, U.S. dollar sell off as Trump trade war drives recession fears

Key points:

·         Trump’s tariffs on China trigger fears of recession

·         U.S. Treasuries and dollar hit by selloff, yields rise sharply

·         U.S. stocks higher in early trading, led by Nasdaq

·         The latest escalation in the trade war between the United States and China rattled global markets again on Wednesday, with Treasuries and the U.S. dollar falling in a selloff of some U.S. assets.

·         U.S. stocks edged higher in early New York trading, however, led by a more than 1% rise in the Nasdaq and with technology  S5INFT leading gains among S&P 500 sectors.

·         U.S. President Donald Trump’s eye-watering 104% tariffs on China came into effect on Wednesday, prompting a swift retaliation from Beijing in the form of duties of 84% on U.S. imports.

·         U.S. Treasuries saw fresh selling pressure Wednesday in a sign that investors were dumping their safest assets and heading for cash.

·         The violent selloff in Treasuries was reminiscent for some of the dash-for-cash at the onset of the COVID-19 pandemic in March 2020, and it reignited fears of fragility in the world’s biggest bond market.

·         Many investors worry that Trump’s wide-ranging tariffs will be severe enough to trigger a recession and force the Federal Reserve into cutting interest rates, and so they dumped their Treasury holdings, driving up yields as bond prices dropped.

[Alex Lugano]

Europe before the bell: futures tank as Trump sticks to his guns

 

European equity futures are signalling another rocky day as U.S. President Trump sticks to his plan to impose large-scale import tariffs on all America’s trading partners.

Euro STOXX 50 futures  FESX1! are down another 4.2% on Monday after the index tanked 8.5% last week, its biggest weekly drop since February 2022.

Futures on the DAX  DAX1!, CAC (FCEc1) and FTSE (FCIc1) are down between 2.6% and 5%.

Speaking to reporters aboard Air Force One on Sunday, Trump indicated he was not concerned about losses that have already wiped out trillions of dollars in value from equity markets around the world.

“I don’t want anything to go down. But sometimes you have to take medicine to fix something,” he said.

Wall Street futures are tanking too. S&P futures  ES1! are down 3.8%, while Nasdaq futures  NQ1! are off 4.8%.

Overnight, it was a similar picture for Asia-Pacific markets. Japan’s Nikkei  NI225 slumped 7.9%, its biggest one-day fall since August.

China’s CSI 300 3399300 slumped 8.4% and Hong Kong’s Hang Seng  HSI tumbled 12.6% after being closed on Friday when China vowed to retaliate with its own tariffs on the U.S., a move that triggered heavy equity selling when announced late last week.

Investors will be watching for any further retaliation from major U.S. trading partners, such as Japan or the EU, or whether any countries are willing to come to the negotiating table.

[Mtl JP]

Stocks performance the day after start of liberation:
DJIA -3.98%
Nasdaq Comp -5.97
SNP 500 -4.84
Qtn to President Trump: Are you worried about the markets ?
Pres Trump: No. Everything is fine. Markets will come back up.

The Federal Reserve is not likely to rescue markets and economy from tariff turmoil anytime soon – Jeff Cox

Should the president hold fast to his tougher-than-expected trade policy, there’s a material risk of at least near-term costs. …/..

[Alex Lugano]

Wall Street steadies ahead of Trump’s tariff plans

 

Indexes up: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.4%

Trump’s tariff announcement at 4:00 p.m. ET

ADP, factory orders beat estimates

Tesla turns higher after reports Musk to leave govt role

 

U.S. stock indexes recovered from morning losses to trade modestly higher on Wednesday as investors awaited U.S. President Donald Trump’s sweeping tariff announcements.

The president has said that his reciprocal tariffs aim to equalize the comparatively lower U.S. tariff rates with those imposed by other nations. But the format of the duties was unclear, with reports that Trump was considering a 20% universal tariff.

“You’re seeing a market that is beginning to slowly rally. That is a read that the news may be more positive than expected,” said Eric Schiffer, chief executive officer of the Patriarch Organization.

“We’ll have continued volatility in the medium term. It will be about how trade partners decide to counter and what the impact of all this is on supply chains and profits.”

[Alex Lugano]

Stocks dip, gold hits record, after Trump’s latest tariff salvo
Auto stocks fall on latest Trump tariff shot

Dollar up against Canadian dollar, Mexican peso

Gold hits record high

Global stocks dipped and gold hit a record high on Thursday in the wake of U.S. President Donald Trump’s latest tariffs that expanded the trade war to auto imports.

Trump announced 25% tariffs on all vehicles and foreign-made auto parts imported into the United States late on Wednesday, scheduled to take effect on April 3. This weighed on Japan’s Nikkei <.N225> and South Korea’s KOSPI  KOSPI stock markets.

Countries around the globe threatened retaliatory tariffs.

U.S. stocks shook off initial declines and were roughly unchanged while automakers slumped. General Motors  GM tumbled about 8%, while Ford  F dropped more than 4%, reflecting concerns about the impact on their supply chains. U.S.-listed shares of Stellantis  STLAM fell about 3%.

The Dow Jones Industrial Average  DJI rose 20.71 points, or 0.05%, to 42,478.39, the S&P 500  SPX climbed 6.42 points, or 0.12%, to 5,718.66 and the Nasdaq Composite  IXIC advanced 21.25 points, or 0.09%, to 17,920.27.

[Alex Lugano]

Futures buoyant ahead of data-driven week

S&P 500 futures rise over 1%

Traders brace for news on tariff barrage

PMIs, US PCE, China earnings in focus

Wall Street shares looked set to open higher on Monday and the dollar firmed at the start of a data-driven week, while the threat of U.S. tariff hikes made investors cautious in Europe.

S&P 500 futures  ES1! were up about 1.2% and Nasdaq 100 futures  NQ1! were 1% higher at 1218 GMT.

U.S. President Donald Trump’s administration is likely to exclude a set of sector-specific tariffs while applying reciprocal levies on April 2, according to media reports over the weekend that helped sentiment in early trading.

The pan-European STOXX 600  SXXP ticked down 0.1%, with most of the region’s indexes lower except for Germany’s  DAX, which rose 0.2% after data showed manufacturing output there increased for the first time in almost two years.

This week’s data releases include global purchasing managers’ surveys, the U.S. Federal Reserve’s preferred inflation reading, inflation data in Australia and Japan, a budget update in Britain, and major earnings in China.

[Alex Lugano]

Wall St rises in choppy trading, Fed comments provide tailwind

Weekly jobless claims at 223,000

Accenture falls after flagging federal contract cancellations

Darden Restaurants narrows annual profit forecast

Indexes up: Dow 0.42%, S&P 500 0.34%, Nasdaq 0.50%

 

U.S. stock indexes recouped some of the early losses on Thursday, as investors digested the Federal Reserve’s outlook on interest rates amid persistent tariff worries.

Traders looked to build on the previous session’s gains after a massive sell-off in recent weeks due to the uncertainty tied to President Donald Trump’s trade policies.

The Fed maintained current interest rates on Wednesday as expected and reaffirmed its forecast for two 25 basis point reductions by the end of year.

The central bank also projected slightly reduced growth and increased inflation for the year, alongside a modest uptick in the unemployment rate by 2025.

All the three major stock indexes closed higher by more than 1% each in the previous session. The CBOE volatility index VIX, also known as Wall Street’s fear gauge, fell 0.3 points and was last at 19.6 – at a nearly one-month low.

[Alex Lugano]

U.S. stocks fall as Fed convenes, euro wavers as Germany passes debt reform

·         Israeli strikes on Gaza revives Middle East tensions

·         U.S. housing starts, industrial output surprise to the upside

·         Safe-haven flows keep gold above $3,000

·         Wall Street turned lower and gold surged to record highs on Tuesday as Israeli airstrikes on Gaza revived geopolitical jitters and the U.S. Federal Reserve gathered to discuss monetary policy amid growing economic uncertainty.

·         A vote by Germany’s parliament to overhaul government spending caused the euro to waver, although it also sent European stocks higher and boosted German shares to near-record highs.

·         Even so, all three major U.S. stock indexes were lower in early trading, with weakness in tech-related megacap stocks dragging the tech-laden Nasdaq down the most.

[Mtl JP]

End of Day landings
March 10th 2025 LAST Update | 4:46:13 PM EDT
–
DJIA 41,911.71 -890.01 -2.08%

S&P 500 5,614.56 -155.63 -2.69%

NASDAQ 17,468.32 -727.90 -4.00%

BTCusd 795xxx

someone tell me please… is there anything NOT to like ?

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

What appeared like a solid earnings beat from AI-bellwether Nvidia (NASDAQ:NVDA) failed to impress nervy tech investors, with anxiety about the wider U.S. economy persisting as trade tariff drums keep beating.

Morning Bid: Even Nvidia beat gets a shrug, tariff war looms

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

Hit by draining consumer and business confidence amid uncertainty about Washington’s economic policies, Wall Street stock indexes are all tripping into the red for 2025 – with the slide stalling for now, awaiting megacap Nvidia (NASDAQ:NVDA)’s earnings today.

The latest sideswipe from main street has unnerved stock, bond and credit markets across the piece.

Morning Bid: Confidence-sapped stocks find foothold as Nvidia awaited

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

Rancorous geopolitics continues to grab most headlines again this week, but it’s creeping anxiety about a slowing U.S. economy that’s unnerving investors most about Wall Street stocks.

Wary of Wednesday’s results from megacap chip giant Nvidia (NASDAQ:NVDA), the S&P500 lost its 6,000 handle for the first time in three weeks on Monday and both the tech-heavy Nasdaq and small cap Russell 2000 are now negative for the year to date.
Morning Bid: S&P500 loses 6,000 handle amid U.S. slowdown fears

[Mtl JP]

Riiiiiight …

Today’s Jobs Report Will Be Confusing. Here’s What to Know. – By Justin Lahart , Reporter via WSJ