Market review from UTEX – week 5
Earning season is in full swing! Picked 5 ideas for trading.
SPY and Nasdaq closed another week up, +1%. Intel and Tesla reports were disappointing. Netflix, ASML and IBM, on the contrary, pleased investors. Bitcoin collected stops to the $38,500 level and consolidated above $40,000 again. BTC is now trading around $42,000.
On Wednesday, the Fed will announce a rate decision. There is no intrigue this time, according to all forecasts the rate will remain unchanged; the market is waiting for Powell's comments. 3% of optimists still believe that the rate will be cut this time. Unemployment data will be released on Friday.
Earning season is in full swing! Five of the “Magnificent Seven” companies will release their results this week: Microsoft, Apple, Google, Meta and Amazon. The main attention will be focused on them.
This week's top 5 stocks
Pfizer (PFE). Reported on 30 January before the open. The pharmaceutical company has lost 40% of its capitalisation over the year. The stock is looking good for the mid-term right now.
Boeing (BA). Reported on 31 January before the open.Shares of the aircraft manufacturer are down 20% YTD amid operational problems with the 737 MAX. Would be good for the medium term, support at $180.
United Parcel Service (UPS). Report 30 January before the open. The company delivers packages and documents throughout the U.S. and internationally. A great chart to buy in the mid-term.
Advanced Micro Devices (AMD). Report 30 January after the close. The chipmaker's stock added 23% in a month while waiting for the report and consolidated above all-time highs of 2021. It's better not to short, support level is $160.
Mastercard (MA). Report on 31 January before the open. As after the Visa report, profit taking is likely.
Good trading to all!
