Futures for the Dow Jones, S&P 500, and Nasdaq were relatively unchanged early Wednesday morning. Despite a higher core CPI inflation reading, the stock market saw a rally led by tech giants like Oracle and Nvidia. ServiceNow, Shockwave Medical, Archrock, Symbotic, and Microsoft all showed buy signals on Tuesday. Dollar Tree shares fell following weak results, while Tesla shares dropped after a Wells Fargo downgrade.
In terms of ETFs, the iShares Expanded Tech-Software Sector ETF and the VanEck Vectors Semiconductor ETF saw gains, while the ARK Innovation ETF and ARK Genomics ETF both declined. The market rally has been strong, with gains in key indexes like the Dow Jones Industrial Average and the S&P 500. Despite this, decliners narrowly exceeded advancers, and the Russell 2000 fell slightly for the third consecutive day.
Overall, the market is showing strength, but investors should be cautious as the market rally could quickly become extended, limiting opportunities for new buys. It’s important to keep an eye on emerging sectors and new opportunities as the market continues its upward trend.
