Major market indexes were mixed in afternoon stock market trading today as investors await next week’s key inflation report.
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In the stock market that day, the Dow Jones Industrial Average rose 0.2%, but the S&P 500 rose only 0.1%. The tech-heavy Nasdaq gave up its morning gains and fell 0.2%.
taiwan semiconductor manufacturing (TSM) soared after sales soared in April due to demand for AI chips.Includes top gainers from the Nasdaq 100 data dog (DDOG), broadcom (AVGO), micron (MU) and ASML (ASML).
According to Econoday, the University of Michigan Consumer Sentiment Survey for May came in at 67.4, compared to expectations of 77. However, inflation expectations for the coming year were 3.5% and expectations were 3.2%, both higher than expected. The consumer price index for April, which will be released on Wednesday, is expected to rise 0.4% from the previous month and rise at an annual rate of 3.5%.
Despite weak consumer sentiment, the benchmark 10-year Treasury yield rose 5 basis points to 4.5%.
Compared to the same time on Thursday, New York Stock Exchange volume increased and Nasdaq volume decreased. Declining issues outnumbered advancing issues 3 to 2 on the New York Stock Exchange and 5 to 3 on the Nasdaq.
The small-cap Russell 2000 fell 0.8%.
Innovator IBD50 ETF (FFTY) rose 0.2%. sweet green (SG) is a top performer on the IBD 50, rising more than 30% after the company’s earnings report. Even with IBD 50, Natera (NTRA) soared 10% to its highest since November 2021 after the prenatal genetic testing company reported an earnings report that raised its outlook.
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home depot (HD) fell ahead of its first quarter results on Tuesday. Cisco Systems (CSCO) rose ahead of Wednesday’s report, but the stock is still trending lower.
walmart (WMT) will also report its quarterly results on Thursday. According to IBD Market Surge, Walmart stock is maintaining its 50-day moving average ahead of earnings, with the buy point remaining flat at 61.66.
Merck (MRK) and microsoft (MSFT) rose slightly. Both are listed in “Stocks Near the Buy Zone” and are well-placed.
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Taiwan Semiconductor jumped 5% from its buy point of 148.43 and entered the buy zone after April sales increased 59% year-on-year to $7.28 billion. The world’s largest contract chip manufacturer holds the IBD Leaderboard.
Online review platform share Yelp YELP fell nearly 6%, falling below its 50-day moving average, after the company released its first-quarter results and provided a weak earnings forecast.bitcoin miner clean spark (CLSK) reversed below its 50-day line even after its second quarter results showed growth in both sales and profits.
Novavax (NVAX) is a pharmaceutical company sanofi (SNY) plans to commercialize a combined Covid-19 and influenza vaccine.
ares management (ARES) is in a buy zone above the buy point of 139.48. Nvidia (NVDA) is also in a good base with a buy point of 974. Both are holdings on the IBD Leaderboard.
samsara (IOT) and williams sonoma (WSM), both members of the IBD MarketSurge Growth 250, are poised to break through the foundations of today’s stock market.
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