Nasdaq and Twitter lead gains but market breadth is poor


Here is what you need to know on Tuesday, April 5:

The Nasdaq was the star performer on Monday as it powered ahead by over 2% on the back of a mega tech rally. Overall, the market breadth was poor with about half of the S&P 500 stocks failing to close higher. Apple (AAPL), Amazon (AMZN), Tesla (TSLA), Twitter (TWTR), Facebook (FB), and Google (GOOGL) were all strong performers and accounted for most of the gains in the Nasdaq.

So far things are calmer on Tuesday but breaking news that Twitter has added Elon Musk to its board is once again lighting a rocket under TWTR stock as it pops 7% in the premarket. News of further sanctions on Russia and growing support for an energy embargo on Russian oil and gas has underpinned oil as it moves back over $104.

The dollar is flat as is gold at $1933. Bitcoin is $46,800 and oil as mentioned back to $104.80 now.

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European markets are lower: Dax -0.5%, Eurostoxx -1% and FTSE -0.1%.

US futures are lower: Nasdaq -0.1%, S&P and Dow Jones futures are both -0.2%.

Dow Jones futures news and Nasdaq futures news

EU proposing a ban on Russian coal.

Reuters reports that the US may not allow processing by US custodian banks of Russia bond coupon payments.

Shanghai extends its lockdown.

Amazon (AMZN) announces a rocket deal for an internet satellite plan.

Twitter (TWTR) appoints Elon Musk to its board.

Tesla (TSLA) see above!

Carvana (CVNA) downgraded by RBC.

Carnival (CCL) says the period from March 28 to April 3 was the busiest ever for bookings.

First Solar (FSLR) was downgraded by Bank of America.

Acuity Brands (AYI) beats on revenue and EPS.

Arcus Bio (RCUS) to join S&P Small Cap 600.

Toast (TOST) MoffetNathson puts $19 price target.

Change Healthcare (CHNG) agrees to extend merger deal with Optum.

Upgrades and downgrades

Source: Benzinga Pro

Economic releases

Source: FXStreet Economic Calendar

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