The market is continuing higher, with the Russell 2000 reversing off lows and near green territory.

Magnificent Seven stocks are posting gains this afternoon, with Tesla (TSLA) regaining some lost ground post earnings.

Six sectors are moving higher, with Consumer Discretionary (XLY) leading the way up and getting a boost from favorable earnings released from Deckers Outdoor (DECK) and Mohawk Industries (MHK). Notably, Tesla (TSLA), LKQ (LKQ), and Chipotle (CMG) are reversing yesterday’s losses and giving a boost to the sector.

Meanwhile, Communication Services (XLC) is lagging and led lower by Charter Communications (CHTR), which missed on earnings.

In the Industrials (XLI) sector, GE Vernova Inc. (GEV) - currently open in the Hotline Model Portfolio - is one of the best performing stocks following yesterday’s stellar results.

Once again, we were way ahead of the Street.

The market looks to end the week right on the border between Greed and Extreme Greed.

Earnings Preview for Next Week

Earnings season is still in full swing, with a plethora of big names reporting next week. Investors will be watching closely as the rest of the Magnificent Seven are scheduled to report, including Microsoft (MSFT), Meta Platforms (META), Amazon (AMZN), and Apple (AAPL).