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The Nasdaq-100 tracking QQQ has lagged since September, along with FANG stocks. But recent price action may suggest they’re coming back to life.
The Nasdaq was the only major index to rise yesterday. (The S&P 500, Dow Jones Industrials and Russell 2000 all fell.) Interestingly, the gain was led by big companies like Tesla (TSLA), Apple (AAPL), Facebook (FB) and Netflix (NFLX). That’s important because most of the Nasdaq’s big gainers in the last three months were smaller names like Moderna (MRNA).
TSLA’s running into its December 21 addition to the S&P 500. AAPL’s starting to get attention as analysts look for the iPhone 12 upgrade cycle to kick in. It’s not clear why FB and NFLX moved. That could indicate investors are simply returning to the large-cap tech names that have been the long-term leaders.
For months, the bulls have piled into energy, financials and industrials — the cyclical reopening/value plays. However, the economy is still struggling and Covid cases are spiking again. That could cause money to shift back to the big-cap Nasdaq stocks.
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...
Stocks are rebounding as key earnings beat estimates and investors get comfortable with fewer rate cuts. The S&P 500 rose 2.7 percent between Friday, April 19, and Friday, April 26. The Nasdaq-100 jumped 4 percent. Those were the biggest weekly gains for both...