The after-hours trading saw Dow Jones futures, S&P 500 futures, and Nasdaq futures all experiencing a decline following the earnings report from CRM, a giant in the Dow.
Interesting to note, while Nvidia had a slight increase during Wednesday’s session, this didn’t have a significant impact on limiting the losses for the Nasdaq and S&P 500. As for the market breadth, there were signs of technical damage for Dow Jones, Russell 2000, and more due to a lack of strength.
It’s worth mentioning that Nvidia is getting close to Apple in terms of market valuation, showing a steady climb to reach the $3 trillion mark. On the other hand, Salesforce, Nutanix, American Eagle Outfitters, and other companies reported earnings after hours, with various reactions in their stock prices.
The stock market rally displayed some negative movements, with certain sectors showing weakness despite a few leading stocks still holding up well. The market breadth remains a concern, indicating potential instability in the rally.
Investors must proceed with caution and closely monitor their holdings for any signs of weakness. It might be wise to keep watchlists updated and be prepared to adjust positions accordingly to navigate the market’s current fluctuations. Remember to stay informed with the latest news and analysis to make informed decisions in this evolving market landscape.
