Market review from UTEX – week 8
BigTechs are ahead again. Waiting for the earnings of Chinese giants. Here are 5 trading ideas.
The main American indices closed in positive territory: S&P 500 added 1.5%, Nasdaq almost 3%.
Among the major companies, we highlight Alibaba (+20%), Apple (+7.5%), Palantir (+7.5%), NVIDIA (+7%). The technology sector continues to outperform. Among the smaller companies, Hims & Hers Health impressed: +42% (+537% for the year).
Bitcoin has been trading in the range of $94,000–$98,500 all week. It is now right in the middle of that range.
Important inflation data came out. The Consumer Price Inflation (CPI) on Wednesday was worse than expected. The market sagged, but was bought back on the same day and consolidated the success with continued gains on Thursday and Friday. Judging by CME Group's rate futures, the rate won't start to decline until June at the earliest. This is in the best case scenario.
77% of S&P 500 companies have already reported, but today through Friday there will be many interesting reports: Walmart, Alibaba Group, Analog Devices, Carvana, Medtronic, Arista Networks, Baidu.
Yesterday was President's Day in the US, stock exchanges were closed.
Top 5+ stocks to trade this week
Carvana (CVNA). Report on Feb. 19 after the close. Stock of the online used car retailer is up 450% year-to-date. From $10 to $285 in 2 years. A gap up and strong intraday move is quite possible.
Baidu (BIDU). Report on Feb. 18 before the open. China's largest search engine didn't grow as much as Alibaba in the latest quarter. Might make sense to keep an eye on it for the midterm. Prices are at 2013 levels.
Klaviyo (KVYO). Report on Feb. 19 after the close. Marketing automation platform. IPO 2023. The stock sagged from $40 to almost $20 after going public, reversing in August 2024. Not a bad mid-term candidate.
Cameco Corporation (CCJ). Report on Feb. 20 before the open. Canadian company, one of the largest uranium producers in the world.
Newmont (NEM). Reported on Feb. 20. U.S. gold miner. Both CCJ and NEM are reasonably priced. For those looking to dilute a long-term portfolio with mining companies.
Rivian Automotive (RIVN). Report on Feb. 20 after the close. The U.S. electric car maker. Most recently, the company announced that it is opening orders for its Rivian Commercial van to fleets of all sizes. Mid-Term.
Profitable trades!
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