Stocks closed mixed Tuesday: the Nasdaq rose 0.83% and the Dow fell 197 points. After the close, AMD and Super Micro beat on earnings and revenue.
Tuesday brought a mixed finish for U.S. equities. Leading the bounce was the Nasdaq Composite, up 0.83%, while the Nasdaq 100 rose 0.68%. The S&P 500 and Russell 2000 also ended in positive territory, but the Dow slipped 197 points. Semiconductor names were a key driver, as Nvidia, AMD and Broadcom each advanced more than 2%.
The S&P 500’s finish captured only a portion of the action. Within that index, decliners exceeded advancers by a 318-to-167 count, and just nine of the Dow’s 30 components closed higher. The Nasdaq showed healthier breadth, with 1,630 winners versus 1,566 losers. Technology saw stronger buying, though the advance remained relatively narrow.
Closing levels for U.S. indexes
Semiconductors were in the lead, though Apple moved against the trend
The 200-day moving averages are still a live issue for Nasdaq buyers
Having been pushed down to 25,145.95 in Monday’s decline, the Nasdaq Composite finished Tuesday at 25,372.01, fractionally above its rising 200-day moving average around 25,073. That leaves buyers a bit of space from support. If a pullback develops, Monday’s low will be the initial gauge. Falling beneath it would return attention to the 200-day, and a sustained break below that average would reinforce the bearish outlook.
On Monday the Nasdaq 100 got closer still to its 200-day moving average, making a low of 27,967.44 versus an average around 27,952.83. Tuesday’s finish of 28,180.26 gives the bulls more room to operate. To the upside, the next hurdle is roughly 28,538. A move above it, and sustained trading there, would point traders toward the 28,822–28,953 zone.
A lesson for traders
Read the index close alongside the advance-decline figures. In a cap-weighted benchmark such as the S&P 500, strength among a handful of big names can carry the index higher even when most components are down. If the rebound broadens and additional stocks take part, it would signal buying pressure spreading through a wider slice of the market. Tuesday’s S&P 500 finish leaves that open for the next trading day.
AMD and Super Micro topped earnings and revenue estimates in after-hours results
Every one of the seven firms surpassed adjusted EPS forecasts, and six exceeded revenue projections. Super Micro Computer delivered the biggest revenue surprise of the set, landing $3.88 billion above the consensus. AMD came in $0.14 per share ahead and added $300 million on revenue. Booking Holdings was the only revenue shortfall, finishing $650 million under expectations while still beating on earnings.
AMD: adjusted EPS of $2.09 versus $1.95, a beat; revenue of $13.40 billion against $13.10 billion, also a beat. The shares were trading at $524, up 8.32%. Its 100-day moving average is at $529.15, and holding above it would be more bullish.
Block: adjusted EPS came in at $1.13 versus $1.03, a beat, with revenue at $6.72 billion versus $6.58 billion, a beat. Trading at $82.10, the stock was up 8.03% and back above its 100-day moving average of $78.24.
Arista Networks: adjusted EPS of $1.20 beat the $1.08 estimate, and revenue of $3.66 billion beat $3.33 billion. Shares were up 7.26%, trading at $182.25, while the 100-day moving average sits at $186.18.
Super Micro Computer: adjusted EPS was $1.81 against $1.20, a beat, and revenue hit $19.90 billion versus $16.02 billion, also a beat. The stock traded up 7.29% at $33.69, with its 100-day moving average at $34.28.
Booking Holdings: adjusted EPS of $4.66 beat $4.49, but revenue of $8.90 billion missed the $9.55 billion estimate. Shares were trading down 2.26% at $152.82, moving away from the 100-hour moving average at $156.60 and the 200-hour moving average at $158.17.
Amgen: adjusted EPS was $6.45 versus $5.79, a beat; revenue was $10.40 billion versus $10.07 billion, a beat; and adjusted operating income came to $4.70 billion versus $4.33 billion, a beat. The stock, trading at $449, was down 2.66%. On the downside, the next level to watch is the 100-hour moving average at $446.93.
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