Stock Market Will Attempt To Resume Record Gains Today

Stock Market Will Attempt To Resume Record Gains Today

US Trading

International Trading

  • Most major markets closed for May 1

Economics

  • ADP (NASDAQ:ADP) Job Report +180K
  • ISM Mfg. Index 55
  • FOMC Rate Decision

US Markets

S&P 500 (SPY)

The stock market will try to resume its record gains today, and with the futures pointing to a higher, it seems it may be the case. 2,960 may be the next level of resistance for the S&P 500. It gets harder to figure these levels out daily given there are no overhead resistance levels. But I’m basing 2,960 off the channel the index has been rising in.

S&P 500, spy

S&P 500, spy

Apple (AAPL)

Apple Inc (NASDAQ:AAPL) is the big story this morning rising following results to around $212. The key here is that the stock is trading above resistance at $209. It sets up a move to about $217.

Apple, aapl

Apple, aapl

AMD (AMD)

Advanced Micro Devices Inc (NASDAQ:AMD) is also rising this morning following its results, and Cowen raised its price target on the stock to $36 from $33. The stock is hovering below crucial resistance at $29.40, should the stock rise above that level it has room to run to $31.50.

AMD

AMD

Nvidia (NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is rising this morning along with AMD, and the next significant level of resistance comes around $185.25 with the potential for the stock to increase to about $198.

Nvidia, nvda

Nvidia, nvda

NXP Semi (NXPI)

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) will try to rally again today following yesterday significant rise. The stock stalled out at resistance around $106 and could be on its way to $115.

NXPI, nxp

NXPI, nxp

Skyworks (SWKS)

Skyworks Solutions Inc (NASDAQ:SWKS) an Apple supplier, will report results tomorrow night and its next level of resistance comes around $93.70, with the potential to rise to about $100.

skyworks

skyworks

Square (SQ)

Square Inc (NYSE:SQ) will report results tonight, but the chart suggests the stock may fall with the potential to around $65.50.

square, sq

square, sq

Original post

Stock Market Will Attempt To Resume Record Gains Today

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.