On today’s episode of Free Lunch, Ryan McQueeney recaps the latest news from the trade war as well as headlines related to OPEC, Nvidia, and AMD. Later, he checks in with Dave Bartosiak, who takes a technical look at several major stock market indexes.
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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Twitter, and other major streaming platforms.
Stocks were higher at the open again Tuesday, underscoring optimism that ongoing trade talks between the U.S. and China are progressing well. There’s been some positive sentiment leaking out already, as evidenced by President Trump’s morning tweet as well as a statement from China’s Foreign Minister.
This is having a residual effect on the energy market, which is happily welcoming slightly higher oil prices. The rally in crude oil comes on the back of production cuts from OPEC that have recently managed to influence prices more than record-high domestic output.
Investors on Tuesday morning were also buzzing about trendy chip stocks such as Nvidia (NVDA - Free Report) and AMD (AMD - Free Report) . These companies are in the spotlight at this week’s CES event in Las Vegas, where both graphics giants will battle to impress gamers and others in the tech landscape.
On the first half of today’s show, Ryan discusses all of the above headlines, providing the key facts and his own perspective on the news. Later, he is joined by Dave Bartosiak, who adds to the conversation by analyzing the technical aspects of charts from the S&P 500, Nasdaq, and Russell 2000.
Dave explains that, although these indexes face their own headwinds and tailwinds, each indicator is approaching a similar batch of key levels in the eyes of chart-minded traders. The rebound has certainly been strong, but the real test will be whether major market gauges can move back above their 50-day and 200-day moving averages, Dave argues.
Ryan and Dave also field questions from the audience, including queries on the growth potential of the broader technology sector and the cyclical nature of the semiconductor manufacturing business. Where does tech go from here? How does a chip stock like Qualcomm (QCOM - Free Report) differ from the likes of Nvidia and AMD? Hear the answers to these questions, and more, only on today’s show!
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