The stock market rallied on Thursday with stock futures climbing higher, riding on the heels of new records set by major indexes the previous day. Retail giant Walmart surged after reporting strong earnings, while GameStop continued to slide. Early indications showed Dow Jones futures and S&P 500 futures slightly up, with Nasdaq 100 futures also ticking higher.
Despite a slight dip in the 10-year Treasury yield and rising oil prices, ETFs such as Invesco QQQ Trust ETF and SPDR S&P 500 ETF were in positive territory. The meme stock frenzy seemed to be fading as GameStop and AMC Entertainment saw further declines.
Walmart’s impressive earnings report led to a 5% gain in its share price, while jobless claims data showed improvements. However, housing starts and permits came in below expectations, and the Philadelphia Fed manufacturing index fell.
Key movers in premarket trading included Baidu and JD.com, while the Dow Jones Industrial Average and S&P 500 reached new highs on Wednesday. Despite some uncertainty in the market, there are opportunities to explore, such as NetApp, PDD, Taiwan Semiconductor Manufacturing, and Tradeweb Markets, among others.
Investors can use tools like IBD MarketSurge to identify potential breakouts and near buy points in various stocks. With the market at all-time highs, it’s essential to stay informed on current trends and adjust strategies accordingly.
As companies like Apple and Microsoft show positive movements, investors need to track the market for potential opportunities and be prepared to capitalize on them. Stay informed on the latest news and developments to make well-informed investment decisions.
