OP Wire 4/21 (OP – Lite)

By Steve

U.S. stock futures are under pressure this morning as President Trump intensifies his criticism of Federal Reserve Chair Jerome Powell, suggesting potential dismissal. This has heightened concerns over the Fed’s independence and added volatility to markets already unsettled by escalating trade tensions with China. Bloomberg+3Yahoo Finance+3Reuters+3 Reuters

As of 03:16 ET (07:16 GMT):

Dow Futures: -305 points (-0.8%)
S&P 500 Futures: -44 points (-0.8%)
Nasdaq 100 Futures: -177 points (-1.0%)

Gold has surged to a new record high, with spot prices reaching $3,393.13 per ounce, driven by a weakening dollar and investor flight to safe-haven assets amid trade war fears.

Key Earnings Reports

Netflix (NFLX)

Shares rose 2.7% in after-hours trading following a strong earnings report. The company reported a 12% year-over-year revenue increase to $10.54 billion and net income of $2.89 billion ($6.61 per share), surpassing analyst expectations.

Tesla (TSLA)

Tesla has delayed the U.S. launch of its affordable Model Y variant, originally slated for the first half of 2025. Production is now expected to begin between Q3 2025 and early 2026. The delay comes amid tepid demand and political backlash related to CEO Elon Musk’s associations.

Microsoft (MSFT)

Earnings Date: Wednesday, April 30, 2025, after market close
Expected EPS: $3.20
P/E Ratio: 29.6
Dividend Yield: 0.9%
Support Levels: $359.83, $354.68, $349.53
Resistance Levels: $374.55, $377.10, $379.87
Technical Indicators: Trading below major moving averages with an RSI of 41.81, indicating a bearish trend.

Apple (AAPL)

Earnings Date: Thursday, May 1, 2025, after market close
Expected EPS: $1.61
P/E Ratio: 40.27
Market Cap: $3.87 trillion
Support Levels: $194.66, $192.33, $190.24
Resistance Levels: $199.07, $201.16, $203.48
Technical Indicators: Trading below key moving averages with an RSI of 43.37, suggesting a bearish outlook.

Palantir (PLTR)

Earnings Date: Monday, May 5, 2025, after market close
Expected EPS: $0.13
Support Levels: $87.58–$88.55, $84.26, $73.79, $66.00
Resistance Levels: $90.07, $93.32, $98.60, $121.00
Technical Indicators: Trading above key moving averages with an RSI of 55.00 and a MACD of 1.23, indicating bullish momentum.

SoFi (SOFI)

Earnings Date: Tuesday, April 29, 2025, before market open
Expected EPS: $0.03
Support Levels: $10.70, $10.42, $10.24
Resistance Levels: $11.15, $11.33, $11.61
Technical Indicators: Trading near key support levels with an RSI of 58.50 and a MACD of 0.09, suggesting bullish momentum.

Global Economic Indicators

China’s Loan Prime Rates

The People’s Bank of China has kept its one-year LPR at 3.1% and the five-year LPR at 3.6% for the sixth consecutive month. This indicates a preference for fiscal measures over monetary easing to stimulate economic growth amid ongoing trade tensions.

Market Technical Levels

Nasdaq 100 ($NQ)

Key Support: $18,000
Resistance Levels: $19,000 (last week’s VPOC), $19,350, $19,600
If Support Fails: Potential tests at $17,400 and $17,000
Note: Volatility is compressing; watch for sudden moves triggered by tariff-related news.

Upcoming Economic Data

Wednesday: Flash Services PMI
Thursday: Jobless Claims
Friday: Michigan Consumer Sentiment

Stay alert for “tape bombs” related to tariff developments, as they could significantly impact market volatility.

If you want to get the plays of the day then signup for Gold, and get a FREE TRIAL