This News That Hit Overnight is Crucial
Understand this before you trade today.
State of the Market
Yesterday we had another day of buying after selling off on CPI on Tuesday.
We had some overnight news that is moving the market that you need to understand before trading today.
Important News
There are a few things that came out overnight that are key:
AMAT crushed earnings
This is a great sign for semiconductor stocks and could give them a push tomorrow. SMCI continues to make new highs and is up again after hours.
ARM is also a name to watch as it has had two inside days in a row and could be primed for a move today.
COIN beat earnings
Even though Bitcoin names were weak yesterday, COIN beat earnings and this could help these names move today. Keep an eye on Bitcoin’s underlying performance and how the Bitcoin-adjacent names are performing to look for relative strength (MSTR, MARA, COIN, etc.).
DKNG conference call is at 8:30 AM
DKNG announced earnings and missed expectations, however they raised guidance. Their conference call is this morning so keeping an eye on how the stock moves during/after the conference call may provide trading opportunities.
For more stock market analysis, watch the video below: