Morning Summary...

 APR-21-2025

NVIDIA: Slightly down due to reports of AI chip sales to China starting next month.

Tesla: Down 4%. Postponed cheaper Model Y launch in the U.S.; Barclays cut price target to $275 from $325.

Gold: Hit another record high, now trading over $3,400/oz, up 2.5%. US dollar weakening.

• Newmont Mining (NEM): Up 3%, reports earnings Wednesday.

10-Year Treasury Yield: Up 7 basis points, around 4.40%.

Crude Oil: Down 2.4%, now just over $63/barrel.

IBIT (Bitcoin ETF): Up 3%, approaching 50-day moving average.

Netflix: Up 2% pre-market. Strong Q1 earnings (+25%) and revenue (+13% to $10.5B). No subscriber numbers released. Focus shifting to advertising.

Capital One (COF) & Discover (DFS): Up 4% and 6% respectively after approval of Capital One’s $35.3B acquisition of Discover.

Amazon: Down 1.7% after a downgrade from Raymond James; now under its 200-day moving average.

Spotify: Up 1% after an upgrade by Wolf Research, citing potential in non-music initiatives.

WR Berkeley (WRB): Strong in property & casualty insurance; earnings expected soon.

Northrop Grumman (NOC): Reports Tuesday; showing accumulation signs.

Alphabet (GOOGL): Reports earnings Thursday.