Stock Market Today April 24th 2024
At Share Navigator we provide an update on the stock market today and every day to our mentoring clients. The share market today update includes stock, options and futures trades. See below a synopsis of today’s stock market update, to get the full update please request a free trial of our stock market mentoring service:
- S&P 500: The recent rebound may be temporary within a broader downtrend. Earnings reports from tech giants (Google, Microsoft, Meta) and Friday’s inflation data could significantly impact the index.
- Active Trader Watchlist: Solid gains of over 1.5% were realized in 11 days on GSK (London) and MTX (Euro). CAP Gemini remains the only open trade in our ‘Active Trader Portfolio’. Remember, we don’t hold these stocks for long so make sure you get access to our trade alerts, we will notify you when we apply each trade.
- Long-term Buy List: Intel and Las Vegas Sands have been added. W enow have over 28 quality stocks with an estimated price appreciation of 25% over the next 18 months. See our full list of stocks in the Share Navigator members’ area. Request a Free Trial if you a re not a member.
- S&P 500 Short Futures: Plan to repurchase short futures options puts when the 5-day RSI reaches 70, closing out the short futures position.
- Bonds: The US 10-year yield stays above 4.6%, with 5% still possible. Friday’s inflation data will be crucial.
- EUR/USD: Stronger Eurozone economic data could shift sentiment away from EU rate cuts, potentially weakening the USD against the Euro. For European based investors, we would consider converting USD cash back to Euro.
- Energy: Natural gas holds above its 50-day moving average, making incremental gains but needs to surpass $2 for a stronger move. Oil prices are on the rise.
- Metals: Sell copper and silver. Hold gold.
Happy investing
Stephen, CEO Share Navigator
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