Dow Jones futures rose slightly after hours, with investors awaiting the CPI inflation report and key reports from Delta Air Lines and Nvidia chipmaker Taiwan Semiconductor. The stock market rally edged higher, with Nvidia testing support and Tesla rising on Elon Musk's robotaxi announcement. The CPI inflation report is expected to impact Dow Jones futures and Treasury yields, while Nvidia faces growing competition in the AI space. Taiwan Semiconductor will release March and first-quarter sales figures, and Delta Air Lines' earnings kick off earnings for U.S. carriers.
Dow Jones futures dipped as investors awaited guidance from the Federal Reserve on future interest rates. The Fed is expected to release minutes from its latest policy meeting, providing insight into their thinking. Nvidia stock leads a list of best stocks to buy and watch. The stock market will be closed on Thursday for Thanksgiving and have a half-day on Black Friday.
Dow Jones futures, S&P 500 futures, and Nasdaq futures rose on Thursday on hopes of stimulus measures in China. However, concerns over rising yields persisted. The stock market rally experienced losses, with the Nasdaq falling below its 50-day line. Nvidia stock reversed lower despite positive analyst sentiment, while Tesla stock continued to decline due to margin-killing price cuts. Investors are advised to be cautious as major indexes break support and leading stocks show signs of damage.
The stock market rally had a mixed week, with the Nasdaq falling through key moving averages and growth names struggling. However, the Dow Jones rose slightly. While the market rally is in danger of falling into a correction, some sectors like industrials, infrastructure, housing, and energy are holding up or gaining ground. Investors should be thinking defensively, especially with regards to growth plays. Tesla and Nvidia stocks are flashing sell signals as they fall below their 10-week lines. Overall, the market rally is on the verge of a correction, but it's not there yet.
