May 1, 2025

Markets:

Stock market futures rose early Thursday after strong quarterly results from two Big Tech players eased concerns that artificial intelligence spending would slow amid economic turmoil.

In premarket trading, Meta Platforms advanced 6% on stronger-than-expected revenue in the first quarter. Microsoft jumped more than 8%, powered by top- and bottom-line beats in the fiscal third quarter, as well as strong results from its Azure cloud business and upbeat guidance.

Traders were initially shaken by weak economic data from the Commerce Department, showing that gross domestic product fell at an annualized pace of 0.3%. It marked the first quarter of negative growth since Q1 of 2022. Economists polled by Dow Jones had forecast a 0.4% gain. Investors looked past the dismal results and began buying back into the market late in the session, resulting in a rebound into positive territory for the Dow and S&P 500.

Wednesday marked the final trading day in April, in which stocks were first whipsawed after President Donald Trump’s “reciprocal” tariff announcement on April 2 and the subsequent suspension of the highest levies. At one point, during the month, the S&P 500 briefly slipped into a bear market – falling more than 20% from its February record high – before recapturing some of its losses. The broad market index wound up ending Wednesday about 9% off its record close.

Investors now await quarterly results from Apple and Amazon in the afternoon Thursday. Meanwhile on the economic data front, weekly jobless claims data and a reading on the U.S. manufacturing sector are due out Thursday. The key nonfarm payrolls report is due on Friday.

Portfolio:

I hope folks listed to the premarket yesterday and it saved folks from selling into weak headlines / tape in premaet that market makers tried to move retail on.  

Queue now is igniting with terrific force and so many names are on the verge of breakouts.  Could be a monster hammer day across a number of sectors.  QQQ for example super close to 200d, will AAPL or AMZN move it across and confirm next level?

We are sitting on a few monster movers in premarket right now and will look to start cashing in over the next few sessions.  No changes needed in current holdings of SOXL, S, SOUN, TSLL, and AAPU.

Be ready today.  Expect updates and new trades.