Dow Jones futures rose modestly Thursday morning, along with S&P 500 futures and Nasdaq futures, amid another busy night of earnings. The stock market rose strongly on Wednesday, with the tech giants up.
Apple stock Amazon.com (AMZN), Microsoft (MSFT), the parent on Facebook meta pads (dead), Tesla (TSLA) and Google Parent the alphabet (The Google) among the leaders. apple (AAPL) aggressive progress buy point While Microsoft and Google stock, if you stare, approach potential entries.
Previous high-value growth leaders had a solid business session as well, with risk-based investing once again in vogue.
fortinet (FTNT), Albemarle (ALB), McKesson (MCK), ELF Beauty (dwarf) And the Axelis Technologies (ACLS) earnings reports were noticeable after the close. All closed Wednesday near the points of purchase. But while McKesson, Axcelis, ELF and ALB shares rose, FTNT shares fell.
Deluxe EV Maker Lucid Group (LCID) also reported quarterly results. LCID’s stock declined due to weak revenue and production guidance.
early Thursday, Eli Lilly (LLY) mentioned.
Lanthius (LNTH), the former software leader datadog (DDOG), Quanta Services (PWR), New Fortress Energy (NFE), Cheniere Energy (liquefied natural gas) and a Chinese e-commerce company Ali Baba (Baba) also on tap.
Eli Lilly, Lantheus, Quanta Services and Cheniere Energy are all available IBD Leaderboard. NFE stock is on the leaderboard watch. Microsoft, Google, and FTNT stocks are in the works Long-term leaders of IBD. New Fortress Energy and ACLS stock available at defect 50. PWR stock is in file IBD Big Cap 20.
Dow jones futures contracts today
Dow futures rose 0.2% against fair value. S&P 500 futures rose 0.3%. Nasdaq 100 futures rose 0.55%.
Crude oil prices rose 1%.
The 10-year Treasury yield fell 2 basis points to 2.73%.
stock market rise
The stock market rebound rebounded strongly on Wednesday, led by technology companies after the Dow Jones fell on Tuesday.
The Dow Jones Industrial Average rose 1.3% on Wednesday stock market trading. The S&P 500 rose 1.6%. The Nasdaq Composite Index is up 2.6%. Small cap Russell 2000 rose 1.4%.
The 10-year Treasury yield rose one basis point to 2.75%, but was far from an intraday high of 2.85%.
US crude oil fell 4% to $90.66 a barrel, below the level it closed on February 23, before the Russian invasion of Ukraine. OPEC+ agreed to increase production quotas in September by 100,000 barrels per day, with actual production gains likely to be minimal. But demand concerns continue to pressure oil prices, with US crude and gasoline stocks rising unexpectedly in the last week.
Megacap stock actions
Apple stock jumped 3.8% to 166.13, its highest level in three months. Stocks moved above the 200 line on Friday after earnings, then pulled back modestly to start this week. Investors can use Wednesday’s move as a solid entry, even though the volume was below average. AAPL stock is still far from the peak and buying point of 183.04, but line relative force It is already on a new level.
MSFT stock is up 2.8% and Google is up 2.6%. META stock jumped 5.4% but is still below the 50 day long sliding line. AMZN stock is up 4%, moving towards the 200-day line.
Tesla stock rose 2.3%, its sixth straight advance and closed above the 200-day streak. Tesla shareholders are expected to agree to a 3-for-1 stock split of TSLA today.
between the Best ETFsThe Innovator IBD 50 ETF (fifty) up 0.2%, while the Innovator IBD Breakout Opportunities ETF (fit) rose 0.4%, with energy names impacting funds. iShares Expanded Technology and Software Fund (ETF)IGV) popped 3.2%. MSFT stock is one of IGV’s most important holdings, with components of the Fortinet stock and DDOG as well. VanEck Vectors Semiconductor Corporation (SMH) made 2.4%.
SPDR S&P Metals & Mining ETF (XME) is down 0.4% and the US Global X Infrastructure Development Fund (ETF) )cradle) rose 0.7%. US Global Gates Foundation (ETF)Planes) went up by 3%. SPDR S&P Homebuilders ETF (XHB) rose 0.6%. SPDR Specific Energy Fund (SPDR ETF)XLE) is down 2.9% and the Financial Select SPDR ETF)XLF) rose 1.5%. SPDR Healthcare Sector Selection Fund (XLV) advanced 0.9%, with possession of LLY stock.
Shares reflect more speculative stories, the ARK Innovation ETF (see you) jumped 6.1% to a three-month high. ARK Genomics ETF (ARKG) jumped 4.7%, matching its highest level in three months on the day. TSLA stock is a major ownership across Ark Invest’s ETFs.
Wednesday Night Main Earnings
McKesson’s earnings topped Views with the dispenser that draws higher on the EPS. MCK stock rose slightly in overnight trading. Shares fell 2.4% to 327.10 on Wednesday after falling below 340.04 flat base Buy point on Tuesday, according to MarketSmith Analysis.
Fortinet earnings It slightly outperformed second-quarter views while earnings guidance and third-quarter were roughly in line. FTNT stock fell early Thursday, indicating a move below the 200-day and possibly the 50-day line. Shares rose 4.2% to 62.88 on Wednesday, closing above the 200-day mark, a major stumbling block in recent months. Fortinet stock has 74.45 buying points, but a strong move above last July 12 high at 63.56 could have provided an early entry or a place to start a long-term leader position.
Albemarle earnings It exceeded expectations while the lithium game also led to a rally again. ALB stock rose strongly early Thursday. Shares fell 1.8 percent to 239.54 on Wednesday as a competitor Levent (LTHM) fell sharply despite seemingly strong earnings. ALB stock has 273.78 buying points from the depth cup with handle Base.
ELF Beauty’s earnings easily beat financial opinions for the first quarter as sales growth accelerated. The budget cosmetics maker also headed higher for the entirety of fiscal year 2023. ELF stock rose modestly in the extended trade. Shares were down 0.6% Wednesday to 33.87, in a range of 33.54 cups with a buy point handle.
Axelis earnings It easily outperforms while the 50% sales growth outperforms quite a bit. Chip runs were guided by third-quarter revenue. ACLS stock was slightly higher overnight. Shares rose 3.8 percent to 72.70 on Wednesday. Axcelis stock is running towards a base buy 83.83 pips, extending nicely from potential early entries.
The obvious earnings were mixed, with a lower-than-expected loss but far less revenue than views. Lucid lowered its full-year production target again. While the Lucid Air sedan, Tesla’s Model S rival, has won critical acclaim, production and supply chain issues have plagued the EV startup, just as Rivian (countryside). LCID’s stock is down in the extended business. Shares rose 4% to 20.56 on Wednesday, well below November’s peak of 57.75.
Home earnings Thursday morning
Eli Lilly’s earnings were in line with views, but revenue was sluggish and the drug giant lowered its full-year targets. LLY stock fell strongly early Thursday, indicating a crucial failure in the recent buying points. On Wednesday, shares fell 2% to 313.83, below the 50-day line and just below an old buying point.
Alibaba earnings and revenue topped the consensus. BABA stock jumped 5% before the opening, but is still below the 50-day and 200-day lines. Alibaba shares rose 3.35 percent to 95.72 on Wednesday.
Quanta Services, Cheniere Energy, Datadog, New Fortress Energy and Lantheus are still in use.
PWR is down 0.9% on Wednesday, trading just below the buying point after the breakout last Friday. LNG stock is down 0.3% on Wednesday, consolidating just below its traditional buying point after clearing last week’s trendline entry. DDOG stock, up 5.7%, is nearing short-term highs, but still far from its peak in late 2021. NFE stock is down 0.7%, close to a cup base point purchase. LNTH stock fell 0.3% to 75.89 in a range of 73.88 buying points.
Market Rise Analysis
The stock market rally made solid gains on Wednesday after a modest dip on Tuesday.
The Nasdaq is now clearly above its early June highs, with the Nasdaq trading volume trading much higher than on Tuesday. Shares of Apple, Meta, Google, and ARK rose.
The S&P 500, Dow Jones and Russell 2000 are still below the highs of early June, although the S&P 500 and Russell are close.
Market breadth improves while leadership expands.
Oil stocks fell as crude prices fell, but this could be an opportunity to build handles on the coasters.
Speculative growth names were among the big winners on Wednesday, reflecting a shift in risk trading. The vast majority still need a lot of work to be doable. While bottom fishing has generally been in business since mid-June, previous efforts to guess the bottom in the fluctuating names haven’t done well.
At this point, a lot of the rickety stocks have rebounded a bit, while still facing a lot of general resistance.
What are you doing now
The stock market rally continues to make progress. Time to invest, but with modest exposure. The market rally may falter, with Fed rates rising and the economy still with a lot of uncertainty. Investors should avoid being too focused on a particular industry and may wish to continue taking partial early profits. Sector rotations and stock jerks are still common.
Work on those watchlists. Several stocks, including Apple, Tesla and FTNT, are recovering some of the major long-term averages and may illuminate early inputs or at least indicate that investors should pay attention again.
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