The Daily Breakdown takes a closer look at Amazon, as it surges more than 20% in just a few weeks, regaining a leadership role within stocks.
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What’s Happening?
And just like that, the S&P 500 is within a stone’s throw of all-time highs. After rallying in 9 of the last 10 sessions and climbing more than 10% from the recent lows, the index is right near record highs as earnings season kicks off. The Nasdaq 100 (QQQ) and Russell 2000 (IWM) are about 1% from their record highs, too.
👀 S&P 500 Spotlight
While Micron was the best-performing S&P 500 stock yesterday — check out our recent Deep Dive on MU — one line from the JPMorgan earnings conference call, the largest US bank, stuck out to me: “Right now, in the end, the story remains the same, which is a resilient consumer that’s doing fine despite higher gas prices.”
⚡ Crypto Corner
Bitcoin briefly rallied above $76K yesterday, but has since retreated back down to that key $74K mark that investors have kept an eye on. Separately, Ethereum hit its highest level since February 1, while Aave has been one of this week’s top performers, up more than 12% so far.
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Chart of the Day — Amazon
A couple weeks ago, Amazon was stuck near its post-earnings lows around $200 and trading around the levels it was trading at in Q1 2025. But now working on its third straight weekly rally, AMZN is up nearly 25% from its March low and running right into the $240 to $250 zone. Previously, this zone has been resistance, although bulls are likely hoping they’ll see a breakout in this name. If not, shares could remain rangebound.
Options
As of April 14th, the options with the highest open interest for AMZN stock — meaning the contracts with the largest open positions in the options market — were the January 2027 $275 calls.
Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. For options traders, it may be advantageous to have adequate time until the option’s expiration.
To learn more about options, consider visiting the eToro Academy.
What Wall Street’s Watching
NVDA
Nvidia climbed for its 10th straight session on Tuesday, with the current rally accounting for a 19% gain. The stock has been rangebound for the last several quarters, with the $165 to $170 area acting as support, and the $190 to $195 zone acting as resistance. Near the latter now, investors are wondering what comes next. Check out the chart for NVDA.
ASML
Shares of ASML are in focus this morning after the company delivered an earnings and revenue beat for its first-quarter results. Further, the company raised its 2026 sales outlook to a range of 36 billion euros and 40 billion euros, compared to a previous forecast of 34 billion euros to 39 billion euros. Dig into the fundamentals for ASML.
NFLX
Netflix popped 3% yesterday and touched its 200-day moving average for the first time since mid-November. The company will report earnings on Thursday, alongside others like PepsiCo and Taiwan Semiconductor. Follow the news for NFLX.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.