Naughty Flicks

Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenu(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) Stock market indexes have been rangebound for a month now, and New York Stock Exchange insider Jay Woods is watching two key stocks and data that could move the market next. The S & P 500 was able to hold key levels around 7,600 and 7,620 last week, a good sign for the broad index, Woods said. But the Freedom Capital Markets chief market strategist added that the index’s rebound to just under 7,750 was a lower high than its Aug. 13 closing peak of just under 7,800. “Now, we’re stuck in that coiling area yet again,” he said. Woods is watching oil prices, which jumped on Monday after Houthi militants targeted Saudi Arabian energy facilities , helping send U.S. equities lower . But the S & P 500 was still holding the 7,600 level despite falling a little less than a half of 1% at midday. Now, Woods is watching two key semiconductor stocks to see where the market may go next. Nvidia rallied to $230 last week, its highest price since the middle of May. But it failed to break through the $235 level that marked its most recent high. “It’s forming what could be a double top, so watch this $235 level, see if it could break through,” he said. “If not, it may be stuck [at] $220, $230 for a little while. We get that to break out, this [next] leg higher could begin with Nvidia.” Broadcom traded lower last week after reporting earnings for its latest quarter. But the chipmaker held a key support level of $350. “Watch to see if it holds. If it can’t, and it closes below, a trip to $320, $325 [is] likely in the cards,” Woods said. “That won’t help the overall market.” Here are other events that Woods is watching this week: Inflation data: The August producer price index comes out on Thursday and the August consumer price index on Friday. Investors will keep an eye on core inflation, and a surprisingly hot reading could send stocks lower, he said. Adobe earnings: Despite a 33% rally from its late June lows, Adobe is still down more than 25% in 2026. Woods is watching to see if the stock can hold $250 after earnings on Thursday, and if it does that may signal the recent rally has room to run. Oracle earnings: Investors will focus on the company’s debt issuance. Woods said that if Oracle can quell traders’ nerves on Thursday, the stock could climb above its 200-day moving average of $168. (This weekly video is exclusively for CNBC PRO subscribers.)Read More