S & P 500 futures rose slightly on Friday morning, becoming higher along with Dow Jones and Nasdaq 100 futures. Broadcom (AVGO) appeared in extended trades after the chip maker said he would buy again up to $ 12 billion of his shares. Broadcom has been struggling for months, with President Trump blocking his offer for the other Apple iPhone chip maker Qualcomm (QCOM) for national security reasons. The defeated Qualcomm was also awake during the night in a new acquisition buzz.
But investors can take a look at Intel (INTC) and Taiwan Semiconductor Manufacturing (TSM). Both consolidate well as the stock progresses.
The S & P 500 index, the Nasdaq compound and the Dow Jones industrial average rose approximately 1% on Thursday's stock exchange, continuing its recovery.
S & P 500 Futures
S & P 500 futures rose 0.3% against fair value. Dow Jones futures rose 0.3%. Nasdaq 100 futures gained 0.2%. However, future stock prices often do not translate into how the S & P 500 and other major averages trade in the next session.
On Friday, JPMorgan Chase (JPM) reported better-than-expected earnings. Citigroup (C) and Wells Fargo (WFC) also report earnings today, kicking off the first quarter results for banking giants.
Broadcom was not yet active on Friday morning, but jumped 4.2% in late trade. That would push the chip maker above its 50-day moving average and closer to its 200-day line. Technically, the stock is in a consolidation that dates back to the end of November, but has not really broken a bearish trend.
Shares fell late last year when Broadcom set up a hostile takeover bid for Qualcomm. Both are manufacturers of Apple chips. But the Trump government blocked the deal for reasons of national security, in part because of fears that Broadcom would reduce R & D spending, jeopardizing the United States' leadership in wireless technology.
As for Qualcomm, shares fell after the Broadcom bid collapsed. The stock rose 2.7% in the previous market in a report that former Qualcomm president Paul Jacobs is assembling a group to make a takeover bid.
Intel rose 3.2% to 52.72 on Thursday, the highest close since September 2000. The relative resistance line is at a six-year high, indicating superior performance versus to the S & P 500. Intel has not yet reached an intraday high of 53.78 on March 13. If the chip giant can consolidate below that level until Friday, it will end a flat base of five weeks. That would give you an entry of 53.88.
Intel fell on April 2 in a report that Apple is developing its own chips for Mac computers that would replace Intel processors. But the action found support in the 50-day line and soon it moved higher.
As for Apple, the stock rose 1% to 174.14, rising slightly beyond its 50-day line. He is also working on a brief consolidation. Its RS line is close to recent highs, but has not made much progress in the past 11 months.
Taiwan Semiconductor Manufacturing
Taiwan Semiconductor rose 1.1% to 43.85 on Thursday, falling back above its 50-day moving average. The largest chip chain in the world, Taiwan Semi is in a consolidation with an entry of 46.67.
The RS line is just below a record.
Taiwan Semi was briefly the most valuable chip maker in the world, but Intel snatched the crown from the market in recent days.
The chip maker reports its earnings on April 19.
YOU COULD INTEREST IN:
The big picture: actions face this resistance
Data storage key link Emerging data-focused computing cycle
ASML, Lam Research, Taiwan Semiconductor Launch of earnings on chip season
Trump's shocking Flip-Flop reveals that China Tariff Plan is a Dud
Special breakout stock tool: Relative strength line