Market indexes broke their recent losing streaks Tuesday during the regular trading session; in the S&P 500 and Nasdaq, this is the first day in the last five to close in the green. Testimony on Capitol Hill regarding the need for more government stimulus as the Fed Chair and Treasury Secretary outlined their goals for the near-term. The Nasdaq led the way for the day, +1.7% to 10,964; the S&P 500 gained 1% to 3315; the small-cap Russell 2000 bounced back with a 0.8% gain to a smidge beneath 1500; and the Dow rose 0.52% on the day, to 27,288. Much focus has been on “Battery Day” from Tesla (, which is live-streamed following the annual shareholder meeting late Tuesday. Although the stock sold off 5.6% ahead of the new unveiling — expected to present ways to further lower battery costs even further (they are already lower than their major competition), with a potential sub-$100 per kilowatt hour — Tesla shares are still one of the big winners year-to-date, +390%. TSLA Quick Quote TSLA - Free Report) Nike (more than doubled its fiscal Q1 earnings, reported after the close, with 95 cents per share swinging to a year-over-year gain from an expected loss a year ago, when the shoe and apparel retailer reported 86 cents per share. Analysts had only been looking for 46 cents in Q1. Revenues also blew the doors off estimates: $10.59 billion was in another orbit from the $9.17 billion in the Zacks consensus. Shares popped 8% immediately on the release. NKE Quick Quote NKE - Free Report) Pent-up demand looks to have kicked into high gear from a hugely disappointing Q4 report, where Nike reported a 38% sales decline and posted a -2600% negative earnings surprise. This time around, Digital Sales cranked up 83% year over year, with key market growth in China, South Korea, the U.K. and Germany. The Zack Rank #3 (Hold)-rated company (prior to the report) has only missed expectations in two quarters since mid-2012. For more on NKE's earnings, click here. Personal online styling retailer Stitchfix (posted different results for its fiscal Q4 report Tuesday afternoon, with a big miss on the bottom line to -44 cents per share. Analysts had been expecting -18 cents. Revenues in the quarter, however, were better than expected at $443 million from the $415 million in the Zacks consensus. The company now counts 3.5 million active clients, up 9% year over year. But after climbing 20% year to date, shares of SFIX have dropped 9% on the report. SFIX Quick Quote SFIX - Free Report) Much the way Nike saw pent-up demand in the quarter following a disappointing report, entry-level homebuilder KB Home ( posted a big beat on top and bottom lines in its fiscal Q3 earnings report late Tuesday. Earnings of 83 cents per share sailed past the 50 cents analysts were expecting, while revenues in the quarter of $999 million easily outpaced the $896 million consensus estimate. New orders rose 27% year over year, depicting strength in the mid-cycle of overall household formation. Though the company did not provide guidance KB Home said early September results are 32% higher than a year ago. KBH Quick Quote KBH - Free Report) Questions or comments about this article and/or its author? Click here>> These Stocks Are Poised to Soar Past the Pandemic The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking. Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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