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AVGO Q2 Earnings & S&P 7,600: Will Spiking Yields Trap the Bulls?
Description
Here is the trade setup for the Wednesday open. Geopolitical escalation has pushed Brent crude to $98, sending the 10-year Treasury yield to 4.48%.
While the S&P 500 rests near historic highs, institutional desks are flagging a potential liquidity trap ahead of Broadcom's massive earnings print.
Stocks to Watch:
🚀 Broadcom (AVGO): Up 3% to ~$497 pre-market ahead of Q2 earnings after the close.
🚀 Marvell Technology (MRVL): Gapping up ~10% after Nvidia's Computex endorsement.
📈 Meta Platforms (META): Rebounding +1% on Jensen Huang's defense of their AI spend.
📉 Palo Alto Networks (PANW): Down 4.6% post-earnings.
Key Levels: S&P 500 Futures (/ESM26) resistance at 7,632-7,638 and support at 7,582-7,585. Nasdaq 100 Futures (/NQM26) resistance at 30,693-30,742 and support at 30,595-30,610.
Content is for informational and educational purposes only. Market data may be subject to platform delays. This is not financial advice.