Market Momentum Shifts Ahead of Critical Earnings Reports
As the Nasdaq and S&P 500 experienced a downturn following last week’s gains, several key stocks are poised for a potential breakout. Notably, Dow Jones Industrial Average component Caterpillar (CAT) is trading near its buy zone, along with Embraer (ERJ), HealthEquity (HQY), and Skechers (SKX).
Caterpillar Shapes Up for a Potential Breakout
The heavy machinery maker has formed a cup base with a 418.50 buy point, making it one of the top stocks in the Dow Jones index. With earnings on the horizon, investors are eagerly awaiting the company’s performance.
A Crucial Week Ahead for the Markets
This week marks the beginning of the thick of Q4 reporting, with Apple and Tesla set to release their earnings. Additionally, a highly anticipated Fed meeting is scheduled to take place, which could have significant implications for the market.
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