Dow Jones futures rose slightly last night, along with S&P 500 futures and Nasdaq futures. fedex (FDX), lululemon athletica (Lulu) and the Dow Giant Nike (NKE) reported after the market close.
X
Stock market gains narrowed after major indexes hit record highs on Thursday morning. micron technology (Mu) and broadcom (AVGO) led to the top names of AI chips including: Nvidia (NVDA). microsoft (MSFT) hit a record high following the AI event.
On the downside, the Justice Department filed an antitrust lawsuit. apple (AAPL) on iPhone. Apple stock fell steadily, weighing on major indexes.
cyberark software (cyber-) issued a buy signal, but a number of non-tech stocks stood out.
neurosecretory biological science (NBIX) and On hold (Onon) broke out. goldman sachs (G.S.) decisively broke out of the trading range. meanwhile, blue owl (owl), ares management (Ares), black stone (BX), black rock (BLK), Apollo Global Management (Appointment) and KKR (KKR) — both part of the Financial Investment Management Group — made a bullish move.
Including Microsoft, there are 11 stocks to buy.
Apollo Global Stocks, KKR, Neurocrine Biosciences, Nvidia are on the rise IBD Leaderboard, CyberArk stock is featured on the Leaderboard Watchlist. Neurocrine stocks, Ares and Apollo Global are listed on SwingTrader. Microsoft stock is featured in his IBD Long Term Leaders. Nvidia stock, Ares, Owl Capital, KKR on the rise IBD50.Broadcom stock and Nvidia are on the rise IBD big cap 20 list. Owl Capital was IBD’s Stock of the Day on Thursday.
Dow Jones futures today
Dow Jones futures rose 0.1% to fair value, making Nike stock a blue-chip stock. S&P 500 futures rose 0.1% and Nasdaq 100 futures rose 0.15%.
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.
revenue
FedEx’s profits were the highest amid solid guidance, offsetting a narrow sales failure. FDX stock soared overnight, signaling a potential breakout. Shares rose 1.9% to 264.85 in regular trading Thursday. FedEx has his 285.53 buy point as he aims for the right side of the three-month stock price rise.
Lululemon’s revenue outpaced views, but the yoga apparel retailer’s revenue was lower. LULU stock was sold in extended trading. The stock rose 2.1% to 478.84 on Thursday, decisively clearing the 50-day line and moving above short-term levels to some extent. If there were no financial results report, early entry might have been possible. The official buy point for Lululemon stock is 516.39 on a flat basis.
Nike’s profits are easily outweighed. NKE stock initially rose solidly overnight, but it clearly fell on analyst calls. The stock rose 0.55% to 100.82 on Thursday, but remains below its 50-day and 200-day lines. However, Nike’s performance and outlook are deckers outdoor (deck) and pending.
On Thursday, Deckers shares rose 4.1% to a record high, but the period was extended. Onon stock rose 2.5% to 35.61 on Thursday, just clearing the handle-based buy point of 35.58 after a sharp selloff and recovery after last week’s earnings.
stock market rise
As for the stock market’s rise, all major indexes hit record highs, although the range of gains narrowed.
The Dow Jones Industrial Average rose 0.7% in stock market trading on Thursday. The S&P 500 index rose 0.3%, with Micron and AVGO stocks being the top gainers. The Nasdaq Composite closed down just 0.2%.
Apple shares fell 4.1% after the Justice Department filed an antitrust lawsuit accusing the tech giant of abusing its iPhone dominance. While AAPL stock is still above recent lows, its relative strength line has fallen to its worst level since late 2021, reflecting its significant underperformance versus the S&P 500 in recent weeks.
Friends of large-cap laggards tesla (TSLA) and adobe (adobe) retreated a little.
Still, many growth stocks saw their gains narrow or disappear.
The small-cap Russell 2000 rose 1.1% to a 23-month high, following Wednesday’s 1.9% gain.
The market rally shows general breadth and broad leadership, with many stocks in various sectors issuing buy signals.
However, the S&P 500 is 4.9% above its 50-day line and the Nasdaq is 4.2% above its 50-day line. These are around the 5%-6% level and may expand slightly. So far, the S&P 500 and Nasdaq have only experienced short and modest declines to their 21-day lines, if at all. At some point, however, the market rally will either pull back even further or take a longer hiatus.
U.S. crude oil prices fell 0.25% to $81.07 per barrel, marking the second consecutive year of decline following the high in 2024.
The yield on the 10-year US Treasury note was unchanged at 4.27%.
ETF
Among growth ETFs, iShares Expanded Technology Software Sector ETF (IGV) rose 0.7%. Microsoft stock is a huge holding of IGV.
VanEck Vectors Semiconductor ETF (SMH) rose 2.3%. VanEck Parts Corp.’s Micron shares soared 14.1% on strong earnings and guidance. Broadcom soared 5.6% as analysts cheered Wednesday’s AI event. Nvidia stock, by far the largest SMH holding, rose 1.2%, continuing its strong weekly rally following Monday’s big AI announcement.
ARK Innovation ETF (Arkku) rose 0.6%, while the ARK Genomics ETF (arcg) fell 0.1%. Tesla stock is a major holding across Ark Invest’s ETFs.
SPDR S&P Metals & Mining ETF (XME) rose 1.2%, while the Energy Select SPDR ETF (XLE) rose 0.6%. Healthcare Select Sector SPDR Fund (XLV) rose 0.1%.
SPDR S&P Home Builders ETF (XHB) rose 2.4%, while the Global X US Infrastructure Development ETF (pave) 1.4%, Industrial Select Sector SPDR Fund (XLI) 1% and Financial Select SPDR ETF (XLF) increased by 0.8%, both new record highs. Goldman stock is among the top 10 holdings of XLF.
Timing the Market with IBD’s ETF Market Strategy
Stocks in the buy area
CyberArk stock rose 1.7% to 270.12, removing most of the resistance of the new consolidation and decisively breaking the tight trend line. But it was off the highs. Stocks rebounded strongly from their 10-week line this week, but volume was low. CYBR stock has gained 283 buy points since Friday and is on track to reach a new benchmark.
Neurocrine Bio stock rose to 148.37, but closed just 2.2% lower at 143.74. But as it cleared a massive flat-based buy point at 143.35, market surge. Earlier, NBIX stock hit a short-term high of 142.50.
Goldman shares rose 4.35% to 413.71, nearing their highest since late 2021. This is a slight increase from 389.58, the cross-buy point where it has been for the past few months. The stock rose 2% on Wednesday, its highest closing price in two years. GS stock remains within its four-week entry of 397.49.
Blue Owl stock rose 3.7% to 18.61, clearing a short sideways threshold at a buy point of 18.33 after rebounding from its 10-week line earlier this week.
Ares stock rose 2.3% to 136.58, extending its 10-week rebound. The stock can take action from this move, the breakout of the trend line, and a near-term high of 137.47. The official flat base buy point is 139.48.
Blackstone stock rose 3.05% to 131.66, above the Cup with Handle’s buy point of 131.29. The stock rose more than 3% on Wednesday, rebounding from its 50-day line.
BlackRock stock rose 3% to 842.06 after bouncing off its 50-day line on Wednesday, above a flat-based buy point of 819. The asset management giant has launched iShares Bitcoin Trust ETF (ibit) is a big winner among new spot Bitcoin ETFs with inflows.
Apollo Global shares rose 1.7% to 114.53, briefly above a short-term consolidation that wasn’t long enough for a flat base. The stock price has recently recovered from around the 10-week line.
KKR rose 3.1% to 101.64, hitting a new all-time high and extending its 10-week rebound.
microsoft stock
Microsoft held a “New Era of Work” event to showcase a number of AI tools and features, including the first Surface AI PC.
MSFT stock rose 1% to 429.37, hitting a new high. The stock remains within short-term consolidation and the 420.82 buy point from the 50-day line.
what to do now
The stock market is in great shape following the Fed meeting and other positive events. A relatively large number of stocks have been issuing buy signals recently, offering an opportunity to increase exposure.
With the S&P 500 Index showing modest growth and sentiment high, investors should not be too aggressive in increasing their exposure. However, a few more names have been set.
That’s why it’s important to keep your watchlist up to date so you can jump on purchasing opportunities quickly.
Read The Big Picture every day to stay on top of market direction and key stocks and sectors.
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