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Saturday, April 20, 2024
HomeFinance NewsMeta Leads 9 Stocks: Dow Jones Futures Surge in Rally Attempt

Meta Leads 9 Stocks: Dow Jones Futures Surge in Rally Attempt

Dow Jones futures, along with S&P 500 futures and Nasdaq futures, remained relatively unchanged after hours, following Dow giant Nike’s positive earnings report. The stock market rally attempted to gain traction on Thursday after a mixed performance the day before. Treasury yields retreated from recent highs, while crude oil prices also fell. Investors are now waiting for the release of the PCE inflation report on Friday morning, as well as the looming possibility of a government shutdown. As the market correction continues, it is crucial for investors to update their watchlists and exercise caution.

Nine tech stocks worth watching include Meta Platforms, Nvidia, Arista Networks, Uber Technologies, CrowdStrike, Duolingo, Aehr Test Systems, Synopsys, and Vertiv. Some of these stocks, such as Meta, Vertiv, Uber, Arista Networks, CrowdStrike, and Synopsys, showed signs of aggressive entries on Thursday. Others, such as Nvidia, Meta, and Uber, are on IBD Leaderboard, while SNPS stock is on IBD Long-Term Leaders. ANET stock, Duolingo, CrowdStrike, and Synopsys are on the IBD 50, and Nvidia and CRWD stock are on the IBD Big Cap 20.

Dow Jones futures saw a slight increase, even with the positive performance of NKE stock. S&P 500 futures remained flat, while Nasdaq 100 futures edged higher. The 10-year Treasury yield slightly declined to 4.58%. The upcoming PCE inflation report is expected to have an impact on Dow futures and Treasury yields. It is important to note that overnight market movements do not always translate into actual trading during regular stock market sessions.

Nike’s stock surged in after-hours trading following its better-than-expected earnings report. Although sales growth fell slightly below expectations, Nike stock still managed to close up 0.2% on Thursday after hitting an intraday low. Carnival is set to release its quarterly profit report on Friday morning, with hopes that it will be the first positive report since the pandemic began. Carnival stock saw a 3.3% increase on Thursday. The August PCE price index will be released on Friday, with economists predicting a rise of 0.5%. However, the core PCE price index is expected to cool to 3.9% from July’s 4.2%.

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