Early Wednesday trading saw Dow Jones futures exhibiting marginal changes, reflecting the overall stability observed in S&P 500 and Nasdaq futures. Despite the release of a core CPI inflation reading on Tuesday that surpassed expectations, the stock market rally continued to show resilience. Notably, Oracle (ORCL) surged following earnings, while Nvidia (NVDA) rebounded. While major tech stocks propelled the S&P 500 to a record high close, market breadth remained subdued.
In Tuesday’s trading session, several stocks, including ServiceNow (NOW), Shockwave Medical (SWAV), Archrock (AROC), Symbotic (SYM), and Microsoft (MSFT), presented buy signals, albeit intraday.
Investors took advantage of incremental buying opportunities during Tuesday’s session, although the window for such actions may be short-lived.
In early Wednesday trading, Dollar Tree (DLTR) experienced a notable decline after reporting weak financial results.
Tesla (TSLA) faced downward pressure after Wells Fargo downgraded the electric vehicle giant to a sell rating and slashed its price target.
Nvidia and ServiceNow are currently featured on IBD Leaderboard, with ServiceNow also highlighted on SwingTrader. MSFT is a constituent of IBD Long-Term Leaders. Additionally, Nvidia, Symbotic, and Shockwave are included in the IBD 50. Archrock was recognized as Tuesday’s IBD Stock Of The Day.
Dow Jones Futures Today Dow Jones futures saw a modest 0.1% increase compared to fair value, while S&P 500 futures remained relatively unchanged, and Nasdaq 100 futures experienced a marginal decline of 0.1%.
The 10-year Treasury yield climbed to 4.18%, while crude oil futures surged by over 1%.
Bitcoin witnessed a resurgence, climbing back above $73,000 and reaching a fresh all-time high.
Please be aware that fluctuations observed in Dow futures and other indices overnight may not consistently reflect actual trading behaviors during the upcoming regular stock market session.