There’s a huge wave of earnings hitting the market, including a big beat from Google parent Alphabet that has put traders in a buoyant mood.
Beyond Silicon Valley’s titans, other tech stocks are looking attractive but not getting as much attention, say StockTwits co-founder Howard Lindzon and MarketWisdom.com co-founder Ivaylo Ivanov for our call of the day.
“Let’s go around the horn to some ideas, because I think on the tail of Google
winning, it’s a big day for machines and for robots,” Lindzon says on the duo’s weekly show, which aired just after the search king’s results.
The promising stocks in this realm include drones maker AeroVironment
, Lindzon reckons. “No one’s heard of it,” he says, “but it continues to just consolidate and go higher.”
He also highlights e-commerce player Shopify
(“the dips seem to be great places to buy”), as well as payments processor PayPal
. The latter’s decision to buy Venmo looks “amazing,” and its shares recently staged a “breakout from a long base,” Ivanov says.
and the overall environment for traders draw praise from the pair, too. They mention that the tech-laden Nasdaq-100
has achieved a record-setting stretch above a key chart level — its 200-day moving average.
“The market is strong. I don’t see much weakness. One day it will end, but trying to be negative right now just does not work,” Lindzon says.
Check out their full show below.
Key market gauges
Futures for the Dow
, S&P 500
are higher, after the Dow
inched lower yesterday but the S&P
and Nasdaq Composite
and Asia have been seas of green, and bitcoin
has jumped above $8,000 for the first time since May. Oil
is rallying, gold
is up slightly and the dollar index
See the Market Snapshot column for the latest action.
If Lindzon and Ivanov’s buy ideas don’t do the trick for you, the popular chart-slinger behind the @traderstewie Twitter handle is flagging other stocks that look promising. And they’re not just tech names.
“Seeing so many of these types of ‘coiling’ patterns in my numerous watch lists,” he writes, referring to chart formations that signal a possible spring higher.
Chipotle Mexican Grill’s
chart is encouraging, and Foot Locker’s stock
also has behaved well, according to the widely followed trader.
A bunch of big names revealed their earnings before the opening bell: Eli Lilly
After the market’s close, AT&T
, Texas Instruments
are due to report.
results disappointed, but UBS
posted an earnings beat.
On the data front, Markit is slated to deliver readings on manufacturing and services shortly after the open.
Check out: MarketWatch’s Economic Calendar
China unveiled a string of measures to boost domestic consumption as trade tensions with the U.S. continue.
Russian hackers breached control rooms at American electric utilities
last year and could have caused blackouts, says the Department of Homeland Security.
Satellite imagery shows North Korea has begun taking down its main rocket launch facility.
President Trump is considering revoking the security clearances of six former senior national security officials who have criticized him, the White House said yesterday.
“I saw corpses, burned-out cars. I feel lucky to be alive.” — One woman talks about surviving Greece’s worst fire crisis in more than a decade, which the country’s interior minister describes as a “biblical disaster.”
Pepperidge Farm has recalled Goldfish crackers over salmonella fears.
Angry moms say Target and Walmart fail to offer suitable shorts for young girls.
Norwegians are quietly revolting against Tesla
Jim Harbaugh on sports betting: “Don’t walk away from that — run.”
Chick-fil-A is getting into meal kits.
Swim star Ryan Lochte banned after an “ill-conceived” post to social media.
David Bowie’s first demo track was discovered in a bread basket.
Why the days of $2 a gallon gasoline could be over:
Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. Be sure to check the Need to Know item. The emailed version will be sent out at about 7:30 a.m. Eastern.
And sign up here to get the Friday email highlighting 10 of the best MarketWatch articles of the week.