Consumer discretionary stocks cruised higher today due to Tesla’s earnings results and 22% jump. The stock added $150 billion in market cap alone, with traders expecting it to challenge its year-to-date (YTD) highs in the coming days and weeks. Earnings continue to drive the day-to-day moves, and traders are betting on the bull market behavior continuing. 👀

Today's issue covers the Nasdaq’s breakout, gold miners missing the bull run, a wild new leveraged ETF, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 5 of 11 sectors closed green, with consumer discretionary (+3.15%) leading and materials (-1.22%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $MNPR, $CPRI, $ICLR, $NRGV, $LYEL 📉 $UAVS, $SKX, $BYON, $EDSA, $LILM*

*If you’re a business and want to access this data via our API, email us.

The tech-heavy Nasdaq 100 is one of the hottest indexes of the last decade, with the tech sector’s growth and outperformance driving major flows into the index. Now, with markets at all-time highs and trading activity staying elevated, the actual Nasdaq company is also breaking out of a major base.

Below is a chart of Nasdaq shares closing at all-time highs after its third-quarter revenues and earnings topped expectations. CFO Sarah Youngwood said the main driver was growth across its business lines, with strength in index and financial technology. 📊

Technical analysts say that as long as prices are above their 2021, this breakout is intact, and prices are headed much higher. The Stocktwits community appears to agree, with sentiment hitting ‘extremely bullish’ territory. 📈

As for growth stocks in general, the tone remains positive among investors. Tesla led today after their better-than-expected earnings. Shares rose 22%, and 3.3 million Tesla calls traded today, the highest level of the year and third highest on record, according to Gunjan Banerji of the WSJ.

Also, crypto remains a clear focus among investors. MicroStrategy soared to new all-time highs, and the Stocktwits community is looking for Bitcoin, Solana, and other coins to follow to the upside soon. It is a bull market after all… 🤑

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*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. tastytrade, Inc., and Stocktwits are separate and unaffiliated companies that are not responsible for each other’s services, products, and policies.

Gold is at a new all-time high, and precious metals are continuing their recent bull run, but the world’s largest gold miner isn’t feeling the love. 🤕

Newmont Mining shares posted their worst day since 2008, falling 15% after reporting adjusted earnings and revenues that missed analyst expectations. Capital expenditures jumped over 30% YoY to $877 million, weighing on results even as the average realized gold price rose $2,518 per ounce from $1,920.

Management expects the company to deliver on its ‘24 production guidance, but investors are worried about higher labor, diesel, and other operating expenses. 😟

Still, some retail investors feel today’s move is overdone given the broader strength in the precious metals market, so Stocktwits sentiment hit ‘extremely bullish’ territory. We’ll see if their bet pays off in the coming months. 🐂

Meanwhile, today’s precious metals star was palladium, which broke out to new year-to-date highs after the U.S. suggested sanctions on Russian exports. We’ve discussed the bull case for this precious metal in the past, so this time, we’re kicking it over to a “Chart Art” idea from @2kaykim to break down his thesis. 👇

United Parcel Service: The transportation giant beat on revenue for the first time in 2 years, despite a macro environment that was ‘slightly worse’ than expected and online sales volumes slowing. Management kept its cautious outlook ahead of an important holiday selling season. Shares jumped 5% on the day. 📦

Capri: A federal court judge blocked the proposed merger between Tapestry-woned Coach and Capri parent Michael Kors, causing shares to plummet over 45% after the bell. The reasoning behind the block wasn’t immediately clear, but the Federal Trade Commission (FTC) has previously argued the $8.5 billion merger would harm consumers, raise prices, and reduce employee benefits. Tapestry jumped 13%. 🛑

QuantumScape: The lithium battery manufacturer lost 23 cents, matching estimates. Shares soared 25% as production of its initial B-sample cells began. 🔋

Seadrill: The offshore drilling company jumped 12% after a report that it’s in talks to merge with competitor Transocean. 🛢

Lilium: The German air taxi startup said in a regulatory filing that its two main subsidiaries would file for insolvency in the next few days. The penny stock fell another 62% to $0.21 per share. 🛬

Joby Aviation: The air tax stock fell 8% after filing for another $200 million common stock offering led by Morgan Stanley and Allen & Co. 💵

Deckers Outdoor: The footwear company soared 12% after third-quarter sales surprised the upside. HOKA and UGG continued to see strong consumer demand, and management said innovation and unique products drove growth. 👟

Western Digital: The data storage company’s Q1 earnings topped estimates, with cloud revenue jumping on strong storage demand. Shares rose 10%. 💾

Southwest Airlines: Shares fell 6% after striking a deal with activist investor Elliott Investment Management to keep CEO Bob Jordan and add six new directors. 🤝

In our first story, we discussed the Nasdaq's breakout on the back of strength in technology stocks and trading activity. However, one stock that is not typically viewed as a trading vehicle is now getting its own leveraged ETF.

Berkshire Hathaway. 🤦

Yes, you may soon be able to trade Warren Buffett’s Berkshire Hathaway via a 2x leveraged ETF. And the reason for this is just how good the performance has been this year. What is typically a “low and slow” stock has experienced major momentum this year as the stock market’s breadth has expanded.

Some view this as a sign that the market is too “frothy” and things need to cool off. Time will tell. But for now, bulls who want to continue betting on Buffett may soon have a new vehicle to do so. 🤣

Economic data: Durable Goods Orders (8:30 am ET), Michigan Consumer Sentiment (10:00 am ET). 📊

Pre-Market Earnings: New York Community Bancorp ($NYCB), Sanofi ($SNY), Booz Allen Hamilton ($BOOZ), Colgate-Palmolive ($CL), and AutoNation ($AN). 🛏️

After-Hour Earnings: None — enjoy your weekend. 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

🥤 Keurig Dr Pepper raises its bets on energy drinks with $990 mln deal for Ghost

❌ Boeing machinists reject new labor contract, extending more than 5-week strike

🧅 McDonald's says supplier Taylor Farms is source of onions linked to E. Coli outbreak

💳 Biden Administration approves controversial Lithium Mine as country races to add supply

🤝 TKO Group to acquire IMG, Professional Bull Riders and On Location from Endeavor for $3.25 billion

🚨 American Airlines is testing a new system to humiliate ‘gate lice,’ the people who try to board planes before their seating group is called

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