Tech Stocks Surge Ahead of Fed Speech

Tesla, Microsoft, and Oracle stocks are seeing gains ahead of the Federal Reserve speech. Tesla is testing its 50-day EMA, while Microsoft has broken above $500. Oracle is climbing back toward the 50-day EMA near $148.

In pre-market trading, these tech stocks seem to be building momentum. The buyers appear to be intact and pushing the prices up. However, a breakdown below $340 for Tesla could make things bearish again.

The Federal Reserve speech later in the day will likely influence these stocks. Chris, a proprietary trader with over 20 years of experience, notes that traders need to build momentum and are looking past potential issues such as AI credit problems.