Dow Jones futures, S&P 500 futures, and Nasdaq futures were relatively unchanged Friday morning.
The stock market saw gains on Wednesday following a PCE inflation report that didn’t meet expectations. The S&P 500 and Nasdaq reached all-time highs, while the Russell 2000 briefly hit a 52-week high after solid weekly gains. Stocks like Advanced Micro Devices, Airbnb, and Lennar saw positive movement.
Several companies, including Dell Technologies, NetApp, Elastic, Zscaler, Veeva Systems, Autodesk, and SoundHound AI, reported earnings after Thursday’s close. Earnings results varied among these companies, with some experiencing gains while others saw declines.
New York Community Bancorp reported “internal controls” issues and a significant Q4 loss, causing the stock to plunge on Friday. This follows a previous crash in late January due to unexpected losses and credit concerns.
Various stocks like Nvidia, Zscaler, and AMD are leading in the market. Earnings reports from companies like Dell, Zscaler, Elastic, Veeva, and Autodesk drove after-hours market activity.
The stock market rally had a solid start on Thursday, with the major indexes showing gains. While the market is expected to pause for some time before moving higher, a variety of stocks and groups are participating. The Nasdaq is close to being considered extended again.
Crude oil prices rose, while the 10-year Treasury yield increased slightly. There was a mix of gains and losses among ETFs, with ETFs like iShares Expanded Tech-Software Sector ETF and VanEck Vectors Semiconductor ETF showing gains.
Notable stocks in buy zones included AMD, Airbnb, and Lennar. Investors are advised to remain steady with their current exposure in the market and keep watchlists ready for trading opportunities.
It is important for investors to stay engaged with the market and have targets ready to make informed trading decisions. Reading daily updates like The Big Picture can help investors stay in sync with market trends and leading stocks.
