Dow Jones futures showed little movement in after-hours trading, mirroring the stability of S&P 500 and Nasdaq futures. Notably, Netflix and Intuitive Surgical exceeded expectations with their first-quarter earnings reports after the market closed.
The recent stock market rally failed to sustain early gains on Thursday, resulting in a mixed session with a bearish undertone. The Nasdaq, which has been trending strongly since November, is now at risk of losing its momentum.
While Nvidia managed to recover slightly after dipping below the 50-day line, other AI stocks like Taiwan Semiconductor struggled despite positive earnings reports. Companies like Meta Platforms, HubSpot, and Allstate showed resilience by bouncing back from key support levels.
On the other hand, Tesla saw a significant decline to a 52-week low amid concerns about Elon Musk’s emphasis on robotaxi technology.
Overall, the market remains uncertain, with major indexes below their 50-day moving averages. It is crucial to monitor key levels and relative strength indicators to make informed investment decisions.
In the current market, caution is advised, and building watchlists while focusing on stocks displaying strength could be a prudent strategy. Analyzing market trends and staying informed about leading stocks and sectors is essential for navigating the current market environment.
