As the new week begins, Dow Jones futures are set to open along with S&P 500 futures and Nasdaq futures. This comes as China announces new stimulus measures and key EV companies like Tesla and its Chinese rivals prepare to report their Q3 deliveries.
Last week, the stock market saw record highs being set by both the S&P 500 and Dow Jones, while the Nasdaq surpassed a key level. Chinese stocks surged as a result of the stimulus efforts being implemented by the government.
Companies like Nvidia, Taiwan Semiconductor, Broadcom, and Micron Technology showed strength early in the week, with some experiencing significant gains. However, AI chip stocks saw a decline on Friday. Apple is on the verge of hitting a buy point, while Robinhood also showed a buy signal towards the end of the week.
The upcoming week will see the release of Q3 delivery reports from Tesla and its Chinese competitors like BYD, Nio, XPeng, Li Auto, and Zeekr. Carnival will also be reporting its earnings, alongside industry giants like Nvidia and Broadcom.
It’s essential to keep an eye on the overall market trend, as well as individual stock performances. China’s ongoing stimulus efforts and central bank interventions are significant factors influencing market movements. Incremental buys and a careful watchlist strategy can help investors navigate the current market conditions effectively.
