Stock Market Today With IBD

The Federal Reserve, as expected raised its key lending rate by another quarter point to a range of 4.75% to 5%. It sees the terminal rate at 5.1% by the end of the year, which implies one more rate hike. The Nasdaq composite and S&P 500 ran into key resistance levels before turning lower, but Microsoft, Lam Research and Meritage Homes held up relatively well. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes rebounded as Treasury Secretary Janet Yellen said the U.S. would do more to protect bank deposits if needed. But volume was light heading into the Fed rate hike decision. On Holding blasted out of base on strong results and guidance. Aehr Test Systems surged as many chip plays backed off early gains. Google flashed a possible early entry as it released its AI chatbot Bard for testing. Learn more about your ad choices. Visit megaphone.fm/adchoices

Financials and energy saw brutal losses last week but tried to make a stand on Monday. Meanwhile, tech lagged a bit after outperforming recently. Cyber security firm Palo Alto Networks is holding near a recent buy point and Booking.com and First Solar are potentially actionable with bounces from moving average lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq rose strongly last week, reclaiming all the moving averages. But the other indexes are below those key levels amid the ongoing bank crisis. Chip stocks remain strong, with Aehr Test Systems forging a new base. Lennar rebounded from key levels. Chinese e-commerce giant PDD is setting up with earnings on tap.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Stock indexes reversed sharply higher after the Wall Street Journal reported that JPMorgan and other big banks were in talks with First Republic Bank about a capital infusion. The dollar amount of $30 billion was confirmed late in the session. Winners beat losers on the Nasdaq by more than 2-to-1. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stock indexes fell but closed off lows Wednesday as investors flocked to bonds again. Sentiment turned positive in the afternoon after Switzerland said it would provide liquidity to Credit Suisse if needed. A lower interest-rate environment fueled more buying in large-cap technology stocks. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes rose Tuesday, but came well off their late morning highs. Bank stocks surged at the open but then came well off early highs. Facebook parent Meta Platforms flashed a buy signal, Boeing flirted with an entry while Fortinet is setting up. All are showing relative strength. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes started uncertain despite efforts to shore up concern from depositors at failed banks. While waiting for the dust to settle, it’s a good idea to keep watch lists fresh with stocks holding up well in the volatility. Long-term leader MSCI, and tech stocks Monolithic Power and Cadence Designs have relative strength and support going for them. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes sold off sharply for the week, breaking through multiple support levels, first on Fed rate hike fears and then on banking woes. JPMorgan bounced on Friday, a positive sign, while Palo Alto Networks and Meta Platforms are holding near buy points. But investors should largely be in cash. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes applauded jobless claims early but fell below support levels as the day wore on. Financials were the hardest hit and dropped the S&P 500 and Nasdaq composite below key support levels. Still, there were some stocks holding up during the selling including Toro, GE and Iridium. Learn more about your ad choices. Visit megaphone.fm/adchoices