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And they carried the Nasdaq Composite to its sixth consecutive positive trading day - its longest winning streak this year.
The S&P 500 started the day down about 0.75% but was able to close about even thanks to tech.
Here's what our experts - Chris Johnson, Tom Gentile, and Shah Gilani - saw today and how they recommend investors position themselves as we head into another week of earnings...
- Chris believes the lack of positive fundamentals news for stocks means investors will trade stocks based more on technicals this week.
- Volume slowed last week, which signals to Chris that investors are lacking confidence that stocks could run significantly higher from here.
- The markets need a catalyst to move higher. Although if the market does move higher, we could see additional selling.
- The biggest news to focus on this week is earnings.
- Early this morning, Under Armour Inc. (NYSE: UAA) disappointed after reporting larger than expected losses with a 23% drop in revenue. The stock dropped 9.3% on the day.
- Chris is bearish on UAA but still thinks JD.Com Inc. (NASDAQ: JD) is on the verge of a bullish breakout because the 20-day moving average recently crossed the 50-day moving average to the upside.
- Tom is still bullish on Bitcoin and recommends investors take a small position because it's the only money that's hardening (becoming scarcer) while central banks around the world are easing (printing money and creating debt in an attempt to solve problems caused by COVID-19).
- Bitcoin's supply of new coins mined per block cut in half from 12.5 to 6.25 earlier today around 3:25 p.m. EDT.
- Tom used his proprietary Money Calendar Pro tool to predict where the FANG stocks are likely heading next.
- Overall, Tom thinks May is going to be a "rocky month" for stocks and thinks investors would be wise to add protection to their portfolios.
- Shah still thinks we're on the verge of a very deep and dark depression, especially given the negative sentiment coming from U.S. Treasury Secretary Steve Mnuchin about new government spending.
- Shah believes the market will turn over after May 20.
- If you have to own one asset class though, Shah is bullish on tech stocks.
- Today, he saw more money flow into the Nasdaq Composite than any other sector, and he thinks the positive momentum from FANG could continue to carry the overall market higher.
- Shah's favorite stock to own right now is iRobot Corp. (NASDAQ: IRBT).
- The fundamentals and technicals are both saying it's a screaming buy.
- It's currently trading for $64.50, and Shah has a $100-$150 price target on the company.
Catch us tomorrow - starting LIVE again at 8:45 a.m. EDT with Chris Johnson, right here.
If you missed our live streams today, you can now replay them on our YouTube channel, here.
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