Dow Jones futures moved lower with S&P 500 futures and Nasdaq futures on Thursday night. Despite many strong economic reports, U.S. Treasury yields are still falling, and the stock market rebounded on Thursday.
Tech giants lead the way, Nvidia (NVDA), Adobe (ADBE) and Facebook (FB) Make a bullish move near the entry point. apple (AAPL), Microsoft (MSFT), Amazon.com (AMZN) and Google parents letter (GOOGL) has also made solid progress.
All of these stocks fell on Wednesday because the market prefers cyclical stocks that day, such as Freeport McMorlan (FCX).
S&P 500 rises steadily
Despite the overall upward trend, the small-scale rotation makes the market rise challenging. However, looking at the Dow Jones Indices, especially the Standard & Poor’s 500 Index, you will hardly see large volatility.Although Apple stock, Facebook, Microsoft, Google, Amazon, Adobe and Nvidia have important positions in the S&P 500 index, the benchmark index also has non-tech giants such as Goldman Sachs (GS), General Motors (GM), Dier (From), The Home Depot (HD), the goal (TGT), FCX stocks and more. Therefore, although some of these names and industries will lead or lag on any given day, the broad-based S&P 500 has been rising moderately for most days.
In the current market rebound, investors should strive for industry balance like the Standard & Poor’s 500 Index, but pay attention to leading stocks. In addition to Nvidia, Adobe and Facebook stocks, Goldman Sachs, General Motors, Freeport McMoRan, Deere and Target can all take immediate action, and Amazon is about to enter its early stages. Home Depot has expanded.
Nvidia, Adobe, Microsoft, GM and Google stocks are all on the IBD rankings. Freeport McMoRan, Google and Goldman Sachs stocks are all on SwingTrader. Microsoft and Adobe stocks are long-term IBD leaders.
In the overnight news, Grass King (DKNG) rose after announcing that it would become the exclusive sports betting partner of the NFL. It will remain the NFL’s fantasy football partner.
Alcoa (AA) Easily exceeded quarterly profit expectations and also exceeded revenue. The aluminum giant climbed overnight.
Dow Jones Futures Today
Dow Jones futures are 0.1% lower than fair value. S&P 500 futures fell 0.1%, and Nasdaq 100 futures fell 0.2%.
In addition to the hot economic data from the US on Thursday, China will release important reports on Friday morning local time, including the first quarter GDP growth that could easily exceed 10%.
Keep in mind that overnight trading in Dow Jones Index futures and elsewhere will not necessarily translate into actual trading in the next regular stock market session.
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Stock market rebound
The stock market rebounded strongly on Thursday, with the Dow Jones, S&P 500 and Nasdaq 100 all hitting record highs.
The Dow Jones Industrial Average rose 0.9% in Thursday’s stock trading, breaking through 34,000 for the first time. The S&P 500 index climbed 1.1%. The Nasdaq Composite Index rose 1.3%. The Nasdaq 100 index rose 1.5%. Russell 2000 edged up 0.4% after rebounding 1% on Wednesday.
The 10-year US Treasury bond yield plummeted 11 basis points to 1.53%, the lowest in a few weeks, despite cutting the yield in afternoon trading to about 1.57%. Although retail sales and unemployment benefits were much better than expected, other reports also showed strong growth. On Tuesday, although consumer prices rose more than expected, the yield on the 10-year Treasury note fell.
In addition to interest-sensitive finance, accelerating economic growth and lowering the yield of national debt are the secrets to promoting broad-based development. However, even those charts usually look good.
Trillion dollar stock rally
When Apple, Microsoft, Amazon, and Google rise by more than 1%, the major indexes may perform well. The market value of Apple’s stock is more than $2.2 trillion, while the market value of other giants is more than $1.5 trillion. All stocks are in the S&P 500 and Nasdaq Composite Index, and Apple and Microsoft stocks are also in the Dow Jones Industrial Average.
Apple shares rose 1.9% to 134.50, approaching 145.19 cup basis points. As APL’s inventory is built on the right side of its foundation, trading volume is generally sluggish.
Microsoft’s share price rose 1.5% to 259.50, and is now a slight increase from its flat basis at 246.23.
Google’s share price rose 1.9% to 2,285.25 points, which also expanded from its flat basis.
Amazon shares rose 1.4% to 3,379.09. On Tuesday, AMZN stock encountered resistance near the February 3 high of 3,434 points, which can be seen as the beginning of the bottom of the cup in a seven-month consolidation. Amazon stocks may become controlled near these levels.
Among the best ETFs, the innovative IBD 50 ETF (FFTY) rose by 0.8%, while the innovative IBD Breakthrough Opportunity ETF (BOUT) rose by 0.7%. iShares expanded technology software industry ETF (IGV) rose 1.85%, of which Microsoft and ADBE stocks were the main components. The VanEck Vectors Semiconductor ETF (SMH) rose 1.3%, and Nvidia stock and many other chip stocks performed well, offsetting Nvidia’s weakness. TSMC (TSM).
SPDR S&P Metals and Mining ETF (XME) rose 1%, of which FCX stocks accounted for the main share. The Global X US Infrastructure Development ETF (PAVE) rose 0.5%.The US Global Jet ETF (JETS) fell 0.9% due to Delta Airlines (DAL) fell back as it began to publish airline earnings reports.
ARK Innovation ETF (ARKK) rose 1.4% and ARK Genomics ETF (ARKG) rose 1%, reflecting more speculative story stocks.
Tech giants take back the point of purchase
According to MarketSmith’s chart analysis, Nvidia’s stock price jumped 5.6% to 645.49, rising from the cup reserve price to above the 615 buying point, and falling below that price on Wednesday. NVDA stock is at the edge of the 5% catch-up zone, ending at 645.75. The relative strength and weakness line of Nvidia stock is close to the consolidation high.
Adobe’s stock price rose 2.5% to 523.25, back to the top of the early trading of 506.61 and 507.02, and set another record at 519.70. Since the merger in early September, ADBE stock has approached the official buying point of 536.98.
Facebook rose 1.65% to 307.82, returning to long trading above 304.77, slightly above the top of its long-term consolidation. FB’s stock has fallen for five consecutive trading days, but has never fallen below the official 299.81 buying point.
Read The Big Picture every day to keep up with the market direction and leading stocks and industries.
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