Market Performance

Best and Worst Performing Sectors in 2023

Top Performing Sector: Technology (+56% return)

• Nvidia (+239%), Apple, Microsoft led gains

Worst Performing Sector: Utilities (-10% return)

Consumer Confidence (May 2024)

• Consumer Confidence Index: 102.0 (up from 97.5 in April)
• Present Situation Index: 143.1
• Expectations Index: 74.6 (below 80 for 4th consecutive month)
• 12-month Inflation Expectations: 5.4% (up from 5.3%)

Major Market Index Moves

• S&P 500: 5,360.79 (+0.26%)
• Dow Jones: 38,868.04 (+0.18%)
• NASDAQ-100: 19,000.95 (-0.11%)
• Nikkei 225: 39,134.79 (+0.25%)

Earnings Reports

• Amazon expected $1.93T earnings on 8/1/2024
• Tesla expected $559B earnings on 7/17/2024
• S&P 500 Q1 2024 earnings review:
  • 8.0% earnings growth rate, beat expectations
  • 11.2% adjusted earnings growth
  • 61.1% revenue beat rate
  • Q2 forecast: $495.7B aggregate earnings

Top Gainers & Losers

Top Gainers:

• Big Tree Cloud Holdings (+90.00%)
• ICC Holdings, Inc. (+43.67%)
• Wetouch Technology Inc. (+38.55%)

Top Losers:

• Canadian Natural Resources (-49.60%)
• Baijiayun Group Ltd (-32.84%)
• Perion Network Ltd. (-30.11%)

Stock in Focus: General Motors (GM)

• Sector: Automotive
• Catalyst: New share buyback program announced
• Check financial details: Stock price, P/E, EPS, revenue, net income, 52-week range, market cap, dividend yield
• Stock rising on positive buyback news

Analyst Recommendations

• Air Transat (TRZ:CA): Upgraded to “Speculative Buy”, $3.50 target
• Target (TGT): “Moderate Buy” consensus
• Amazon (AMZN): 95% “Buy” ratings, $221.74 avg. target

Indian Market Highlights

• Sensex down 203 pts to 76,490, Nifty at 23,259 after hitting records
• Rupee fell 10 paise to 83.50/USD
• Aluminium, copper futures trading range bound
• 310 stocks hit 52-week highs, 31 hit lows
• GAIL, Gujarat Natural, Landmark Cars shares down

Support & Resistance

• Support: Price level buyers overwhelm sellers, halting downtrend
• Resistance: Price level sellers overwhelm buyers, halting uptrend
• Technical indicators to identify support/resistance:
  • Fibonacci retracement
  • Wolfe Waves
  • Camarilla Pivots
  • Murrey Math Lines
  • Admiral Pivot