Nasdaq Scores All-Time High, Helped By Bullish Earnings Reports | Summary and Q&A

2.8K views
β€’
February 4, 2021
by
Investor's Business Daily
YouTube video player
Nasdaq Scores All-Time High, Helped By Bullish Earnings Reports

TL;DR

Nasdaq and S&P 500 hit new highs, but market is looking extended with many stocks being overbought.

Install to Summarize YouTube Videos and Get Transcripts

Questions & Answers

Q: How did the major indexes perform today?

The Nasdaq, S&P 500, and Dow all finished the day up, with the Nasdaq hitting an all-time high.

Q: Is the market looking extended?

Yes, the Nasdaq is trading around 7% above its 50-day moving average, indicating a potentially overbought market.

Q: How did eBay perform after its quarterly earnings report?

eBay closed the day up over 5%, but it closed near its session lows. The company reported strong growth, but concerns remain about weak relative strength and RS rating.

Q: What about PayPal's quarterly report and stock performance?

PayPal had another quarter of strong numbers and the stock was already extended before the report. It could be considered for a call option trade, but caution is advised due to its extended status.

Q: What can we expect from BlackLine's upcoming earnings report?

BlackLine has shown strong sales growth in recent quarters and is in a good technical setup with support at the 10-week moving average. It is worth monitoring ahead of the report.

Summary & Key Takeaways

  • The Nasdaq, S&P 500, and Dow all finished the day up, with the Nasdaq hitting an all-time high.

  • The market is starting to look extended, with the Nasdaq trading around 7% above its 50-day moving average.

  • eBay reported strong earnings, but concerns remain about weak relative strength and lagging RS rating.

  • PayPal continues to show strong growth, but the stock is already extended.

  • BlackLine is in a good technical setup, with support at the 10-week moving average and upcoming earnings report.

Share This Summary πŸ“š

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on:

Explore More Summaries from Investor's Business Daily πŸ“š

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on: