As Dow Jones futures prepare to open on Sunday evening, all eyes are on the performance of Nvidia along with S&P 500 futures and Nasdaq futures.
The stock market rally witnessed record highs for major indexes like the Dow Jones, S&P 500, and Nasdaq in the past week as various stocks broke out or displayed buy signals. While the market took a breather towards the end of the week, it was significant to see the Dow Jones closing above 40,000 for the first time.
Nvidia’s upcoming earnings report on Wednesday night is eagerly anticipated as it could have a significant impact not just on AI companies but also on other artificial intelligence plays in various sectors. Stocks like Broadcom, Microsoft, Super Micro Computer, and Advanced Micro Devices are all closely watched as they near potential buy points.
Besides Nvidia, companies like PDD Holdings, Palo Alto Networks, Modine Manufacturing, Toll Brothers, Synopsys, Deckers Outdoor, and Williams-Sonoma are set to report earnings next week. These reports could have implications for their respective sectors as well as the broader market.
Investors are advised to be cautious about adding AI stocks to their portfolio ahead of Nvidia’s earnings as the outcome could potentially trigger heavy selling in related sectors. It’s a good time to reassess your holdings, review your watchlists, and stay informed about market trends to make informed decisions about your investments.
