Monday morning saw modest gains in Dow Jones futures, as well as S&P 500 and Nasdaq futures, in response to the Federal Reserve’s inflation report. Fed chief Jerome Powell expressed satisfaction with the data from Friday.
The stock market had a strong week, especially for growth stocks like AI leaders Nvidia, which saw some pullback but remained above support levels. Despite this, the market showed strong breadth with small caps leading the gains. The Dow Jones and S&P 500 reached record highs while the Nasdaq dipped due to some tech giants retreating.
China EV makers such as Nio, Li Auto, XPeng, and BYD reported deliveries for March and the first quarter early Monday, meeting or surpassing low expectations. Tesla is expected to release its first-quarter deliveries on Tuesday.
Key tech leaders like Microsoft, Meta Platforms, and CrowdStrike are showing bullish pullbacks, while new AI chip IPO Astera Labs is retreating from its record high. The market is showing signs of broadening and rotation with promising stocks in various sectors like housing, finance, medical, and consumer goods.
Investors are advised to cast a wide net, add promising names to watchlists, and stay vigilant for potential sell signals. It is important to stay informed with market trends and leading stocks to make sound investment decisions.
