Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. arm holdings (arm), Duolingo (Duor), App Lovin (app) and robinhood market (HOOD) made headlines after the market close.
X
The stock market rose for the second day in a row in quiet trading. Nvidia (NVDA) fell slightly for the second consecutive session.
But many growth stocks shined. Arista Networks (ANET), toast (stand vertex pharmaceuticals (VRTX) broke or flashed a buy signal on earnings.storage play Nutanix (NTNX) and netapp (NTAP) also triggered an entry.
In addition to Arm, Duolingo, AppLovin, and Robinhood. airbnb (ABNB), instacart (cart) and trade desk (TTD) reported.
early Thursday morning, constellation energy (CEG) and Giga cloud technology (GCT) is scheduled.
Nvidia is on the IBD Leaderboard and added Toast stock as an earnings option on Tuesday. Nvidia stock, NetApp, and Toast are on SwingTrader. Nvidia, Toast, and GigaCloud stocks are included in the IBD 50. Trade Desk stock is included in the IBD Big Cap 20. Toast was Wednesday’s IBD Stock Of The Day.
Dow Jones futures today
Dow Jones futures were flat to fair value. S&P 500 futures and Nasdaq 100 futures fell 0.1%.
The 10-year US Treasury yield rose to 4.5%.
Please note that overnight trades such as Dow futures do not necessarily translate into actual trades in the next regular stock market.
IBD experts analyze leading stocks and markets on IBD Live.
stock market rise
The rally in the stock market saw another quiet mixed trade.
The Dow Jones Industrial Average rose 0.4% in stock market trading Wednesday. The S&P 500 index was flat. The Nasdaq Composite fell 0.2%. The small-cap Russell 2000 fell 0.6%, but found support near its 50-day line and closed near its all-time high.
US crude oil prices rose 0.8% to $78.99 per barrel.
The 10-year Treasury yield rose 3 basis points to 4.49%, ending a five-session losing streak.
ETF
Among growth ETFs, the iShares Expanded Technology Software Sector ETF (IGV), which includes AppLovin and NTNX stock, fell 0.4%. The VanEck Vector Semiconductor ETF (SMH) rose 0.3%. Nvidia is his No. 1 SMH holding.
Reflecting more speculative story stocks, the ARK Innovation ETF (ARKK) fell 2.5% and the ARK Genomics ETF (ARKG) fell 2.3%. HOOD stock is a notable holding across his ETFs at Ark Invest.
SPDR S&P Metals Mining ETF (XME) fell 0.85%. The SPDR S&P Home Builders ETF (XHB) fell 0.35%. The Energy Select SPDR ETF (XLE) fell 0.1%, and the Healthcare Select Sector SPDR Fund (XLV), of which VRTX stock is a member, fell 0.3%.
The Industrial Select Sector SPDR Fund (XLI) closed flat. Financial Select SPDR ETF (XLF) rose 0.4%.
Top 5 Chinese stocks to watch right now
Main income
Arm’s profits easily beat fourth-quarter estimates. AI and wireless chip sales picked up slightly in the first quarter, but full-year revenue forecasts are a little lighter. Stock prices fell sharply in overnight trading. On Wednesday, the stock fell 1.6% to 106.07 near its 21-day line. ARM stock has rebounded since plummeting for several sessions in mid-April, but remains well below its 50-day line.
Duolingo’s revenue beat consensus, but guidance wasn’t great. DUOL stock fell sharply in extended trading. On Wednesday, the stock fell 1.7% to 244.64, just around the cup-based buy point of 245.59. Duolingo stock is coming off a consolidation that dates back to December.
AppLovin’s revenue and guidance were strong. APP stock soared overnight. The stock fell 4% to 74 on Wednesday, ending a four-day winning streak. AppLovin stock has rebounded from its 50-day line in late April.
Robinhood’s revenue, fueled by crypto trading, easily exceeds its views. HOOD stock rose slightly in extended trading. The stock fell 0.8% to 17.85 on Wednesday, holding its 50-day line. A decisive move beyond the 50-day period would use Monday’s high of 18.46 as a concrete trigger, leading to an early entry into a new consolidation. HOOD stock has been on track to gain a base with a buy point of 20.55 since Friday.
Airbnb’s revenue outpaced views, but the online travel site’s second-quarter revenue declined. ABNB stock fell in late trading. The stock fell 1.2% to 148.51 on Wednesday, just below its 50-day line. Airbnb stock has a buy point of 170.10 from a flat base, base on base formation.
Instacart’s revenue exceeded expectations. CART stock fell slightly in extended trading. The app-based grocery delivery company, formally known as Maple Bear, fell 0.1% to 37.48 on Wednesday. The buy point for Instacart stock’s cup with handle is $39.59.
Trade Desk’s revenue outpaced views, and its online advertising business slightly exceeded second-quarter revenue. TTD stock rose slightly in overnight trading. The stock fell 4% to 86.02 on Wednesday. Trade Desk stock is trading on a moderate basis with a buy point of 94. However, the stock price has been steady since July last year.
Meanwhile, Constellation Energy and GigaCloud Technology are in the spotlight with their earnings results early Thursday.
On Wednesday, Constellation Energy shares rose 3.7% to 208 shares, moving from a brief sideways base to near the edge of the buy zone.
Gigacloud stock fell 2.4% to 39.14 on Wednesday. GCT stock, which rose significantly from the end of November to March 15, entered a new consolidation at a buy point of 45.18.
Stocks in buy zone
Toast jumped 13% on Wednesday to 26.82, above the handle cup’s buy point of 25.63. The 5% buy zone ended at 26.91. The restaurant software platform reported a bigger-than-expected GAAP loss, but revenue beat and Toast led the rally.
Arista shares rose 6.45% to 291.67 on Wednesday after strong results and guidance, as well as a $1.2 billion share buyback. It passes through the 50-day line and clears the trendline entry with a new consolidation. The consolidated buy point for ANET stock is 307.74.
Vertex stock rose 2.1% to 418.82, decisively clearing the 50-day line and entering the trend line in the second day of earnings reaction. On Tuesday, the stock price rose above that level after performing a reversal. Late Monday, Vertex’s earnings and sales exceeded views, but the biotech giant maintained its 2024 outlook. Note that Vertex’s three-month downtrend comes as major indexes are hovering near record highs.
Nutanix stock rose 1.4% to 66.21 on Wednesday, briefly surpassing the double-bottom buy point of OA66.98 amid a Raymond James upgrade. NTNX stock hit a record closing price and is now actionable.
NetApp stock rose 2% to 109.48, breaking above the company’s double-bottom buy point of 108.82. The relative force line is at an all-time high.
nvidia stock
Nvidia shares fell 0.2% on the day to 904.12, after rising 11% in three sessions ending Monday, as the AI ​​chip leader’s stock price paused.
According to MarketSurge, the consolidated buy point for NVDA stock is 974 points. Stocks may be starting to take control. Nvidia’s financial results are scheduled to be released on May 22nd.
market rise analysis
Stock market gains have shown constructive activity, with major indexes holding firm over the past two sessions after solid gains.
There are stocks that are giving out buy signals. Investors can add exposure here.
Earnings season remains a perilous time for private names. Please take that into account when considering buying or selling.
Keep your watchlist up to date.A market pause may create a large number of handles, but stocks that continue to rise will soon show relative strength
Read The Big Picture every day to stay on top of market direction and key stocks and sectors.
Follow Ed Carson’s thread @edcarson1971 and X/Twitter. @IBD_ECarson The latest information on the stock market, etc.
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