"Late Earnings: FedEx and Nike Rise, Lululemon Falls"

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Source: Investor's Business Daily
"Late Earnings: FedEx and Nike Rise, Lululemon Falls"
Photo: Investor's Business Daily
TL;DR Summary

Dow Jones futures rose slightly, with FedEx, Lululemon Athletica, and Nike reporting strong earnings after the close. The stock market rally saw record highs on major indexes, with Micron Technology and Broadcom leading AI chip names higher. The Justice Department filed an antitrust suit vs. Apple, causing its stock to fall and weighing on the major indexes. Eleven stocks, including Microsoft, CyberArk Software, and various finance-investment management companies, flashed buy signals. The stock market rally is showing overall breadth and broad-based leadership, with a number of stocks from various sectors flashing buy signals. However, investors should be cautious as the S&P 500 is slightly extended, and it's important to have watchlists updated to pounce on buying opportunities quickly.

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