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Late Equity Roundup: Waiting For AA, UAL, TSLA Earnings

US STOCKS

Stock indexes holding mixed after the FI close, DJIA and SPX mildly firmer vs. weaker NASDAQ levels into midday. SPX eminis traded weaker into the rate close have rebounded: ESM2 +9.5 (0.21%) at 4469 - still above 50-day EMA that intersects at 4447.32.

  • Key resistance established at 4519.75, the Apr 8 high, where a break would ease the bearish threat. On the flipside, key support at 4355.50 Low Apr 18, followed by 4321.07 61.8% retracement of the Mar 15 - Mar 29 rally.
  • Earnings cycle gains momentum, most early releases beat est's. Waiting for AA, UAL, TSLA after the close.
  • SPX leading/lagging sectors: Real Estate (+2.13%) continues to outpace Consumer Staples (+1.58%) and Health Care (+1.55%).
  • Laggers: Communication Services hit (-3.90%) after Netflix annc huge drop (-200k) in subscribers late Tue. NFLX currently -36.34% to 221.93.
  • Meanwhile, Dow Industrials currently trades +299.28 (0.86%) at 35211.42, Nasdaq -147.4 (-1.1%) at 13472.43.
  • Dow Industrials Leaders/Laggers: IBM also annc late Tue: leads rally (+9.05 at 138.16) on strong revs +8% and strong guidance in hybrid cloud service. Bad day for Disney (-6.93 at 124.97) as Fl Gov DeSantis seeks to end special tax district benefit.
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