Dow Jones futures, along with S&P 500 futures and Nasdaq futures, saw a slight rise on Thursday morning.
The stock market rebounded on Wednesday after a tech-led sell-off the day before, but closed below intraday highs. Federal Reserve Chair Jerome Powell reiterated that there is no rush to cut interest rates, and labor market data did not cause concern. CrowdStrike (CRWD) saw a gap up in earnings, though it dropped significantly from its intraday high. The software sector, which suffered losses on Tuesday, did not see much improvement despite CRWD’s performance. On a positive note, Nvidia (NVDA), Advanced Micro Devices (AMD), and Super Micro Computer (SMCI) reached new highs.
AI software company Palantir Technologies (PLTR) and diabetics products giant Dexcom (DXCM) broke out on Wednesday, while chipmaker Qorvo (QRVO) regained a buy point and Square parent Block (SQ) showed promise.
Tesla (TSLA) briefly hit lows not seen since 2024, showing significant underperformance against the S&P 500.
Investors are advised to be cautious as bullish sentiment approaches near-euphoric levels.
Early Thursday, Novo Nordisk (NVO) surged after announcing successful results in a phase 1 trial for its weight-loss drug amycretin.
Overall, the stock market rally remains mixed with some stocks showing strength and others struggling. Bulls are watching the market closely for signs of excess bullishness.
Palantir, Dexcom, Qorvo, and Square are stocks to keep an eye on, while Tesla continues to face challenges.
The market direction remains uncertain, with investors advised to stay cautious.
