• August 30, 2024

Trading on technicals in sectors like tech, retail, biotech

Second-quarter earnings season has brought to light different signals about where each market sector is heading. The retail sector (XRT) and tech sector (XLK) being among the spaces that saw a mixed bag of results from its top players. MarketGauge.com chief strategist Michele Schneider joins Market Domination to give insight into what investors need to know about the current market environment following earnings, underlining how best to trade on technicals from each of these industries. Schneider explains the consumer play as retailers deliver winning or lagging quarterly results amid price-conscious shoppers, while the retail sector is "very close to a major breakout." Turning to tech, Schneider details hidden opportunities to watch and how investors should be "treading water." She names Eli Lilly (LLY) as one other stock that is "treading water" but in a different manner than tech. Eli Lilly could potentially see $150 to $200 more in this stock coming up, Schneider says. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Ivana Freitas.

  • August 29, 2024

Mortgage rates fall to 15-month low ahead of Fed's rate cuts

US mortgage rates have fallen to a 15-month low, according to the latest data from Freddie Mac. The 30-year fixed rate mortgage has dropped to 6.35%, its lowest reading since May 2023. Market Domination anchors Josh Lipton and Madison Mills comment on whether sliding mortgage rates can inspire homebuying activity as the Federal Reserve plans to cut interest rates in September. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

  • August 29, 2024

Cyclicals, US dollar, August volatility: Market Takeaways

The Dow Jones Industrial Average (^DJI) closed Thursday's session at a new record high, while the tech-heavy Nasdaq Composite (^IXIC) and S&P 500 ^GSPC) slipped slightly into negative territory after Nvidia's (NVDA) second quarter earnings beat that failed to impress Wall Street investors. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to highlight the biggest themes from the trading, including this week's gains in cyclical sectors, patterns pointing to a reversal in the US dollar, and market volatility (^VIX) seen in August trading. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Luke Carberry Mogan.