Monday morning saw a slight rise in Dow Jones futures, S&P 500 futures, and Nasdaq futures as earnings season starts to wind down. This week, investors will be focusing on inflation and other economic data. An online conversation between Elon Musk and Donald Trump is expected to take place Monday night.
After a global sell-off on August 5th, the stock market rebounded, but key indexes also experienced weekly losses. The current rally attempt needs to show a follow-through day to confirm its strength.
Some AI stocks like Meta Platforms, Palantir Technologies, and ServiceNow are performing well, while others like Nvidia are struggling. Various stocks have moved above their 50-day moving averages, presenting early entry opportunities for investors.
Overall, the market is awaiting important economic indicators this week, such as the producer price index and consumer price index reports. A follow-through day in the stock market could be triggered by these reports.
Potential growth ETFs like the Innovator IBD 50 ETF and the iShares Expanded Tech-Software Sector ETF have shown positive movement, while the Energy Select SPDR ETF and the Health Care Select Sector SPDR Fund have experienced declines.
Investors are advised to keep an eye on AI stocks like Palantir, Meta Platforms, ServiceNow, and Taiwan Semiconductor. While the market is showing signs of recovery, caution is still warranted as a follow-through day has yet to be confirmed.
