Overnight Dow futures were little changed, along with S&P 500 futures and Nasdaq futures. The stock market rose on Tuesday on the back of hopeful signs of peace talks between Russia and Ukraine and Moscow’s withdrawal of some troops from Kyiv. Crude oil and commodity prices fell, although they trimmed losses.
X
Apple stock Dutch brothers (Bruce), Microsoft (MSFT), fortinet (FTNT) And the Tesla (TSLA) are the stocks to watch. an Apple (AAPL) and BROS shares on Tuesday, while Microsoft and FTNT shares offer early entries. Tesla’s stock continues to climb to the right side of its base.
Concentrix (CNXC), micron technology (mo), R (R) And the Lululemon Athletica (lulu) among the notable earnings reports after the close.
Russian-Ukrainian talks
A Russian negotiator described the Ukraine talks as “constructive”. Russia said it would “drastically reduce” military activities around Kyiv and the nearby northern city of Chernev in order to “build confidence”. This appears to be a cover for a military retreat, with some units returning to Russia’s ally Belarus. Ukrainian forces have been retaking territory around Kyiv – and elsewhere – for the past few days, as Russia sustained heavy losses in troops and equipment in its invasion of Ukraine. Russia continued to bombard the Kyiv region and other major Ukrainian cities aggressively.
Russia has said that the peace agreement will require Ukraine to remain outside NATO, but it has no objection to Ukraine joining the European Union.
Ukrainian and Western officials have expressed doubts that Russia is serious about peace talks. US officials have indicated that the forces may be redeploying to the Donbass region in the southeast, where Russia continues to launch attacks.
While the main indicators continued to rise, the prices of oil, agriculture, mining and other commodities faded with the prices of basic commodities. But commodity and stock prices retreated from their lows as some optimism about talks between Russia and Ukraine faded. Defense names also declined.
earnings
Concentrix earnings were slightly better than expected. CNXC stock has not been active yet. Shares rose 1.1% Tuesday to 196.75, bouncing off the 50-day streak. Concentrix stock is working on a flat baseor base formation on base, with 208.58 buy points.
micron profit Views led in the second quarter, with the memory chip giant also providing bullish guidance. MU stock rose strongly in the extended trade. Shares rose 2.7% to 82.05 on Tuesday, rebounding from the 200-day streak. Micron’s stock is in a good place to buy after pulling back in early March.
Lululemon earnings Exceeded expectations while just missing out on sales. But the yoga apparel maker and retailer gave optimistic guidance for the first quarter and announced a $1 billion share buyback of LULU. LULU’s stock jumped through the night. Shares rose 3.7% on Tuesday, extending their recovery from the 50-day streak. Lululemon stock still has a long way to go to reach its peak in late 2021.
Reproductive health earnings topped while fourth-quarter sales missed. RH stock is down strongly despite plans for a 3-for-1 stock split. Shares are up nearly 5% on Tuesday, moving above the 50-day line but away from highs.
Tesla and Microsoft shares are working IBD Leaderboard and the defect 50. MSFT Inventory and Fortinet are on Long-term leaders of IBD. It was the Dutch Brotherhood on Tuesday IBD stock today.
The video included in this article reviews the market action on Tuesday while also analyzing Apple, Marriott International (March) and stock BROS.
Dow jones futures contracts today
Dow Jones index futures fell against fair value. S&P 500 futures tilted lower and Nasdaq 100 futures rose.
Crude oil futures rose slightly. The 10-year Treasury yield fell 3 basis points to 2.37%.
Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.
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stock market rise
The stock market rally extended gains, closing near session highs with technology and small cap companies in the lead.
The Dow Jones Industrial Average rose 1% on Tuesday stock market trading. The S&P 500 index jumped 1.2%. The Nasdaq Composite Index is up 1.8%. Small cap Russell 2000 jumped 2.7%.
US crude oil prices fell 1.6% to $104.24 a barrel in the Russian-Ukrainian talks, after briefly dropping below $100. In April, gold fell 1.4% to $1,912.20 an ounce, after falling below $1,900 on the day. Wheat futures fell sharply, but trimmed losses as well.
The 10-year Treasury yield fell 8 basis points to 2.4%. The two-year Treasury yield fell by 2 basis points to 2.365%. The two-to-10-year yield spread is now less than four basis points, after a brief intraday reversal. Fed Chair Jerome Powell indicated that he is more interested in the yield differential than the short end of the curve. The return spread from three months to 10 years is still wide.
ETFs
between the Best ETFsThe Innovator IBD 50 ETF (fifty) rose 0.7%, while the Innovator IBD Breakout Opportunities ETF (fit) rose 0.3%, reflecting a number of commodity-related components. iShares Expanded Technology and Software Fund (ETF)IGV) appeared by 2.4%. Microsoft is a major component of the IGV, with shares of FTNT also in the ETF. VanEck Vectors Semiconductor Corporation (SMH) rose by 2.3%.
SPDR S&P Metals & Mining ETF (XME(Down by 1.4%, Global X US Infrastructure Development ETF)cradle) by 0.8%. US Global Gates Foundation (ETF)Planes) rose 3.5%. SPDR S&P Homebuilders ETF (XHB) popped 3.2%. SPDR Specific Energy Fund (SPDR ETF)XLE) is down 0.3% and the Financial Select SPDR ETF (XLF) slashes 0.2% higher. SPDR Healthcare Sector Selection Fund (XLV) rose 0.6%.
Shares reflect more speculative stories, the ARK Innovation ETF (see you) rose nearly 4% just below the 50-day line. ARK Genomics ETF (ARKG) jumped 6.5%, retracing the 50-day streak for the first time in 2022. Tesla stock continues to rank number one across ETFs at Ark Invest.
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main stock
Apple stock rose 1.9% to 178.96 points, to close at 176.75 double bottom Point purchase. After rising for 11 consecutive sessions, AAPL stock may be due for a breakout. This may provide an opportunity to buy into the iPhone giant. The Relative force line It is approaching record highs again, reflecting the performance of Apple stock against the S&P 500 index. The RS line is the blue line in the available charts.
BROS stock jumped 12.4% to 62.77, topping the 62.11 buying point from A cup base with handle Within the larger consolidation. The Dutch Brothers buyout area extends to 65.22. On Tuesday morning, BROS stock broke the downtrend of its handle, providing an early entry. Dutch Bros coffee chain is in the midst of a major expansion.
Microsoft stock rose 1.5% to 315.41, gaining a little more distance from the 200-day streak. Investors can buy the software and cloud computing giant now as an early entry or as a long-term leader. MSFT stock is now just above the midpoint of its base and above the short-term high of February 2nd at 315.12. the official buy point is 349.77, according to MarketSmith Analysis.
Fortinet stock rose 2.6% to 347.48, the highest close of 2022. FTNT stock broke the trend line entry on Tuesday and is approaching another actionable point at 351.61. The official purchase point is 371.87. Since the massive spike in volume on March 18th, FTNT stock has risen in a below-average trade.
Tesla stock rose 0.7% to 1099.57. Stocks approach 1208.10 cup base Buy point, with an early entry around 1150. TSLA stock is up 43% since March 14th, so the electric vehicle giant’s best bet is to pause and form a handle before flashing buy signals.
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Market Rise Analysis
The stock market rally continued on Tuesday due to Russian-Ukrainian talks and Russian troop movements, closing near session highs even as US and Ukrainian officials tempered optimism.
The S&P 500, Nasdaq Composite and Russell 2000 all moved above their short-term February highs. The Dow Jones regained the 200-day streak. The 200-day Nasdaq line is the next big resistance level for the market rally.
Top losers were overwhelmingly ahead of Tuesday’s broad-based advance.
It wouldn’t be surprising to see the market pause or pull back. Of course, this was true for a while. That would be healthy, letting the key indicators digest the gains. That could allow stocks like Tesla and Apple to forge handles, creating new or less risky buying opportunities.
The market rally is still being driven by the headline. It’s hard for Wall Street to price major news shifts – war versus peace – especially when news changes so quickly.
Market leadership
What stocks and sectors will lead?
The winners during the correction – energy and other commodities – were having a rough morning, but they cut losses and don’t seem to be done yet. Energy stocks in particular pulled back from intraday lows as crude oil prices pared losses.
Defensive growth names, especially medical stocks like United Health (United nations), HCA Healthcare (HCA) And the Eli Lilly (LLY), they keep the points of purchase but do not charge higher fees in the past several sessions.
Many of the big winners during the recent recovery have been trounced, and they are the highly valued growth leaders. Many of them are still in good condition. One notable exception is the Tesla stock. BROS stock fared well from all-time highs, but broke out of a legitimate base on Tuesday.
Apple Stock, Microsoft and Google Parent the alphabet (Google) are the tech giants with relatively modest price-earnings ratios that are flashing buy signals.
As the stock market moves forward, the Treasury yield spread indicates that bond traders are more concerned about the economic outlook, from the Russia-Ukraine war to the Fed rate hike. A Russia-Ukraine cease-fire or peace deal could give the Federal Reserve more freedom to enact 50 basis point increases to combat inflation.
Time to Market with IBD’s ETF Market Strategy
What are you doing now
The stock market rally continues to move higher, removing key resistance levels. Leadership is still in flux. In the best case scenario, the market rally will be broad based. Or the narrow leadership may reassert itself in the coming weeks.
Either way, investors should look to have a diversified mix of leadership right now, and continue to slowly increase exposure.
Keep working on those watchlists. Strong market gains fix a lot of broken charts.
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