Jerry Samet
02-05-2025, 06:33 PM
The market put in a solid session today despite GOOGL’s earnings report disappointing. The major averages opened lower but found a bottom and rallied to decent gains. Late buying saw all the major averages finish at their intraday trading highs. The NASD averages were held back by GOOGL with the COMPQ and the NDX gaining .19% and .42% respectively. The SPX rallied .39%. Volume was higher across the board. Leading stocks had another good session. The leaders index lagged a bit today with a gain of .28%, other ETFs of leading growth stocks did better. The market had a good session overall today. Early weakness was overcome and the major averages closed strong. Volume was higher as well, a good sign. Tech stocks mostly lagged on GOOGL’s poorly received results. Small and mid-cap stocks did well and semiconductor stocks were strong. The fact that quality growth stocks are doing well is an encouraging sign. Overall the rally looks like it wants to work it’s way higher. There are more important earnings reports coming out tomorrow. Other than PLTR they haven’t done much for the rally. The employment report on Friday will also be important. Jerry