Earnings on tech are shaping up to be better than expected as Google parent company Alphabet reports a blowout fourth quarter — and more in Wednesday’s stock market recap.
Nasdaq futures rose 1.5% Wednesday morning following a strong earnings report from Alphabet Inc. Class C (Nasdaq: GOOG).
The tech titan beat fourth-quarter estimates for earnings and revenue for both its services, as well as its cloud business.
The company also announced a 20-for-1 stock split for its Class A (Nasdaq: GOOGL), B and C shares. The Class A and C shares are both trading for around $3,000 each as of Wednesday morning. The Class B shares aren’t publicly traded and held mostly by company insiders and early investors.
The news sent shares up more than 10% in premarket trading, and helped pull the Nasdaq back above its 200-day moving average.
If the Nasdaq and other indices move above their 50-day moving averages, it’ll be a bullish signal for the markets.
In this morning’s stock market recap video, you’ll learn which index is leading the pack… what sector has a chance to show strong upside… whether volatility is declining… the most probable scenario for bonds in the near term… the most crucial Federal Reserve data right now… an update on where the market is headed… plus my top long play and weakest bottom play.
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Roger’s Radar: Chip-Makers Surge on AMD Earnings
Chip-makers are on the rise again after strong earnings from Advanced Micro Devices Inc. (Nasdaq: AMD), which reported after the bell Tuesday. AMD is up over 11% Wednesday morning, and rival Nvidia Corp. (Nasdaq: NVDA) was up over 5% to lead the pack.
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 35,405.24.
- Futures: 35,288.
- Change: +20.
S&P 500 (mini)
- Close: 4,546.54.
- Futures: 4,562.5.
- Change: +27.5.
- Close: 15,019.68.
- Futures: 15,168.75.
- Change: +174.
- Close: 2,050.74.
- Futures: 2,045.6.
- Change: -0.3.
Note: Updated as of 9:12 a.m. EST
Building on the sector analysis from Tuesday, I’ll take things a step further every Wednesday with two FREE trade alerts! I’ll identify my favorite stock in the strongest sector, and even a short opportunity from the weakest sector. That’s two trades… absolutely free… each week!
Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to firstname.lastname@example.org!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.