Investors can expect the Dow Jones futures to open Sunday evening, alongside S&P 500 futures and Nasdaq futures. This week, Tesla and its key rivals in the Chinese EV market will report their Q3 deliveries, which could have a significant impact on the stock market.
The recent stock market rally saw the S&P 500 and Dow Jones reaching record highs, while the Nasdaq cleared a crucial level. Chinese stocks also experienced a surge due to various stimulus efforts, with companies like Nio and Alibaba making significant gains.
Notable companies like Nvidia, Taiwan Semiconductor, and Broadcom showed early buy signals, while Micron Technology stood out with an impressive performance based on its earnings and guidance. However, AI chip stocks saw a decline by the end of the week.
Apple is on the brink of reaching a buy point, and Robinhood also flashed a buy signal by the end of the week. Tesla had a strong week and is expected to report its third-quarter deliveries soon, along with key China competitors like BYD, Nio, XPeng, Li Auto, and Zeekr.
As investors await Tesla’s delivery report, other companies like Carnival are scheduled to report early next week. Nvidia remains a top choice as it is on Leaderboard, SwingTrader, and the IBD 50 list, along with other prominent companies like Apple, Broadcom, and Robinhood.
In conclusion, while the stock market rally had a decent week overall, investors should focus on incremental buys and keep a close eye on market trends and leading stocks. It’s important to stay informed about major market movements and continue to build watchlists for potential investment opportunities.
