Market Indices

Dow Jones Industrial Average (DJI)

• Closing Price: 38,807.33
• Daily Change: +96.04 (+0.25%)

NASDAQ Composite Index

• Closing Price: 17,187.90
• Daily Change: +330.85 (+2.04%)

FTSE 100 (UK100)

• Closing Price: 8,274.87
• Daily Change: +27.92 (+0.34%)

Nikkei 225

• Latest closing price, daily change and percentage change not available.

S&P 500 Index (SPX)

• Latest closing price, daily change and percentage change not available.

Sector Performance

Top Performing Sectors (Rating: Outperform)

• Financials (Trailing 12M Performance: +33.1%)
• Energy (+16.6%)
• Materials (+22.5%)

Worst Performing Sectors (Rating: Underperform)

• Real Estate (Trailing 12M Performance: +10.0%)
• Consumer Discretionary (+23.3%)

Economic Data

US Consumer Confidence Index (May 2024)

• Index: 102.0 (Previous: 97.5)
• Present Situation: 143.1
• Expectations: 74.6
• Inflation Expectations: 5.4% (Previous: 5.3%)
• Expecting Higher Interest Rates: 56.2% (Previous: 55.2%)
• Next Release: June 25, 2024

Earnings

Upcoming Notable Earnings

• Amazon (AMZN) - Aug 1, 2024
• Tesla (TSLA) - July 17, 2024
• Microsoft (MSFT) - July 23, 2024
• Berkshire Hathaway (BRK.A, BRK.B) - Aug 5, 2024

Q1 2024 Earnings Highlights

• S&P 500 earnings growth of 8.0%, beating expectations
• Q2 aggregate S&P 500 earnings forecast at new high of $495.7B
• Forward P/E ratio: 20.6x

Today’s Top Gainers & Losers

Nifty Gainers

• HCL Technologies (+4.00%)
• Tech Mahindra (+3.99%)
• SBI Life Insurance (+3.79%)
• Shriram Finance (+3.66%)
• State Bank Of India (+3.44%)

Nifty Losers

• Hindalco Industries (-2.55%)
• Hero Motocorp (-2.20%)
• Hindustan Unilever (-2.04%)
• Asian Paints (-1.92%)
• Nestle India (-1.53%)

Focus Stock: Nvidia (NVDA)

• Sector: Technology
• Current Price: $1,224.40
• Market Cap: $3.061 trillion
• EPS (Forward): $20.04
• Nvidia’s stock price hit record highs, market cap exceeded $3 trillion
• 10-for-1 stock split expected soon
• Stock up nearly 29% since last earnings report
• Contributing to strength of market rally, especially tech sector

Analyst Recommendations

Target Corp (TGT)

• Avg Price Target: $173.94
• Consensus Rating: Moderate Buy
• 1 Sell, 10 Hold, 18 Buy Ratings

Block (SQ)

• 39 Buy, 6 Hold, 5 Sell Ratings
• Avg Price Target: $90.43

Nvidia (NVDA)

• 76 Buy, 4 Hold, 0 Sell Ratings
• Avg Price Target: $1,215.29

Market Highlights

• Sensex +0.93%, Nifty +0.89% as markets stabilized
• Rupee rebounded 14 paise to 83.37 vs USD
• Dixon Technologies formed JV for electronics manufacturing
• Ashoka Buildcon executed EPC deal with Swedish firm
• Persistent Systems launched GenAI platform
• Zen Technologies secured patent for laser boresighting

Support & Resistance

Support and resistance levels indicate price points where a prevailing trend may pause or reverse due to demand/supply dynamics. They can be identified using trendlines, moving averages and other technical indicators across different timeframes.

Traders watch for reactions at these levels and use tools like Fibonacci retracements, Wolfe Waves, Camarilla Pivots etc. to predict potential support/resistance areas.

Understanding support/resistance helps with entry/exit timing, trend reversal detection and risk management.