After-hours trading saw Dow Jones futures holding steady, similarly, the S&P 500 futures and Nasdaq futures showed little movement. JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) are set to report early on Friday.
The stock market experienced a rally as investors seemed unfazed by a mixed March PPI inflation report, especially following the significant CPI inflation reading earlier in the week. The Nasdaq closed at a record high, led by Nvidia (NVDA) which showed strong performance and triggered a buy signal following a positive rebound. Other AI chip and hardware stocks like Broadcom (AVGO), Astera Labs (ALAB), Arista Networks (ANET), and Super Micro Computer (SMCI) also had strong showings. In the software sector, Datadog (DDOG) and Microsoft (MSFT) showed positive movements.
While the market presented opportunities for purchases on Thursday, caution is advised in increasing exposure rapidly. The market may be at the beginning of a new upswing, but it could also be a false signal. It’s worth noting that the indexes are still moving sideways.
Stocks like Nvidia, Microsoft, Citigroup, and Arista Networks are making notable appearances in various stock lists, highlighting their potential for growth. JPMorgan was recognized as the IBD Stock Of The Day on Thursday.
Investors should stay updated with market trends and keep an eye on leading stocks and sectors. It is essential to remain vigilant and avoid making hasty decisions based on short-term fluctuations in the market.
