After hours trading showed Dow Jones futures, S&P 500 futures, and Nasdaq futures holding steady. Costco Wholesale released mixed results on Thursday night. Investors are anticipating the release of the core PCE price index, an important inflation gauge for the Federal Reserve, before the market opens.
The stock market rally started strong on Thursday, led by Micron Technology and Chinese stocks, pushing the S&P 500 to a record high. While the major indexes experienced a slight dip after the open, they did recover later in the day. The Nasdaq has now entered a power trend, indicating a bullish market trend. The S&P 500’s power trend remains strong without any downward pressure.
Stocks like Nvidia, Arm Holdings, Taiwan Semiconductor, and Broadcom continued to perform well, with some hitting resistance levels or breaking out. However, Super Micro Computer faced a setback as the Justice Department launched a probe into the company. MakeMyTrip also saw a decline, while ServiceNow managed to hold key support levels.
The upcoming release of the PCE price index will provide insights into inflation trends. Economists are divided on whether the Fed will cut rates on Nov 7. Overnight trading in Dow futures and other indices may not always reflect actual market behavior in the following session.
Costco’s earnings beat Q4 expectations, but sales fell short, leading to a slight drop in stock price. The stock market rally showed strength on Thursday, with the major indexes posting gains. Notably, MakeMyTrip and ServiceNow had contrasting performances during the day.
The latest movements in the market highlight the importance of being patient when making investment decisions. It’s essential to analyze market trends and leading stocks before buying or selling. Stay informed about market direction and sector performance by regularly checking updates and reviews.
In conclusion, while Thursday saw some market fluctuations, overall market conditions remain favorable. Investors should continue to monitor their portfolios, identify potential opportunities, and stay updated on market news and trends. Keep a close eye on leading stocks and sectors to make informed investment decisions.
