The S&P 500 and Nasdaq slipped Tuesday morning as chip manufacturers lower future guidance — and more in Tuesday’s stock market recap.
NVIDIA kicked off the week by releasing preliminary earnings that revealed second-quarter revenue of $6.7 billion versus its initial outlook of $8.1 billion, citing weaker-than-expected gaming revenue.
The news was followed by an announcement from Micron on Tuesday warning that revenue for the current quarter may fall near the low end of its forecast, or even lower.
The S&P 500 and Nasdaq slid 0.3% and 0.7%, respectively, while the iShares Semiconductor ETF fell 1.5% in premarket trading Tuesday, following its 1.5% fall on Monday.
I’m traveling this morning, so instead of your usual stock market recap, I’m bringing you an update on how earnings season is affecting the 11 major sectors, plus my top sector and top stock as usual.
In this morning’s stock market recap video, I’ll reveal whether bonds will fall or rise… which sectors are most vulnerable… why I believe the Tech sector will weaken… plus which stocks to stay away from right now.
At 1 p.m. EDT on Wednesday, Aug. 10, I’m going live to reveal my No. 1 Frontrunner Stock for the rest of 2022…
Not only that, but I’ll also discuss the core factors behind what I call “Frontrunner Stocks,” how to build your own custom ETF, portfolio management and more.
I’ll even go into great detail on the formula used to backtest the Frontrunner Portfolio, and share the results!
*Stated results are typical for given period. Past performance is not indicative of any future results. Trade at your own risk. From 5/23/22 to 7/12/22 on live trades the average win rate is 100%, the average return is 15.3% over a 3 day average hold time.
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