LMT, MBLY, LVS In Focus While Indexes Mark Time | Stock Market Today

TL;DR

Tuesday's market saw mixed results as big earnings reports started coming out, with the NASDAQ slightly lower and the S&P 500 slightly higher.

Transcript

foreign it's Allie Corman Ed Carson here with a look at the market for Tuesday April 18th where we saw a very mildly mixed day Ed as we're starting to see more big earnings reports roll in yeah a lot of earnings reports out there uh yeah another quiet day on the market want to look at three stocks uh that are acting fairly well mobileye Lockheed Ma... Read More

Key Insights

• 😃 The market is trading sideways as it prepares for a big earnings season, with many companies forming bases.
• 🐵 The NASDAQ is facing resistance near recent highs, and the Dow is at a key level of 34,000.
• 🐿️ The strength of chip stocks is uncertain as breakouts in the sector have been mixed.
• 💪 The home construction sector is one of the strongest in the market.
• 💪 Mobileye is showing strong performance but has upcoming earnings and a lockup expiration, which adds uncertainty.
• 🍳 Lockheed Martin is breaking out of a base, but its growth potential may be limited compared to other stocks.
• 🤘 Las Vegas Sands and other Macau-focused gaming companies are showing positive signs, but investor reaction to the upcoming report will be crucial.

Questions & Answers

Q: Is the market's uptrend still looking healthy?

The rally is not exceptionally strong, but it hasn't been doing anything wrong either. The market is above moving averages, and while breath and new highs could be better, the current pause before earnings season is not necessarily a bad thing.

Q: Should investors wait for a pullback before adding exposure?

It is not recommended to make an all-or-nothing bet. If the market and individual stocks start breaking out, it could be a good time to gradually add exposure. However, it's important to avoid making hasty decisions and instead, let the market and stocks prove their strength.

Q: What are some key levels to watch in the market?

The NASDAQ is facing resistance near recent highs, while the Dow is approaching a key level at 34,000. The IWM ETF, representing the Russell 2000, is still below its 200-day and 50-day lines. Keeping an eye on these levels can provide insights into market trends.

Q: How are chip stocks performing?

Chip stocks, represented by the SMH ETF, have been showing some weakness, but there have also been impressive movers in the sector. Earnings reports from major components of the ETF, such as ASML, Lam Research, and Taiwan Semiconductor, will provide a better picture of chip stocks' performance.

Summary & Key Takeaways

• The NASDAQ and Dow had a quiet day, with the NASDAQ showing resistance near recent highs.

• The market is trading sideways and has been forming bases, which could be beneficial before a big earnings season.

• The S&P 500 is approaching its highs from early February, and investors are waiting to see if positive earnings reactions will be a good time to add exposure or if a pullback is necessary.