Futures for the Dow Jones, S&P 500, and Nasdaq remained relatively stable early Friday ahead of the February jobs report.
The stock market had a successful session on Thursday, with the S&P 500 and Nasdaq reaching new record highs. Various chip stocks, such as Nvidia, Taiwan Semiconductor, Broadcom, and Marvell Technology, experienced significant gains. Some stocks also showed buy signals.
While some stocks saw positive movements, overall, the market rally appears to be overstretched, signaling caution for investors. Key companies like Broadcom, Marvell, Costco Wholesale, Gap, and software makers like MongoDB, Samsara, and DocuSign reported earnings after the close on Thursday.
Friday morning, Taiwan Semiconductor reported an increase in February sales and a rise in January-February revenue. The FDA announced a delay on a decision regarding Eli Lilly’s Alzheimer drug.
The February jobs report set to be released at 8:30 a.m. ET could potentially influence the market. According to economists, nonfarm payrolls are expected to increase by 190,000.
Despite positive movements, it’s essential for investors to be cautious, especially considering the potential market pullback and economic indicators like the jobs report. Stay informed with daily market updates and leading stock analysis.
