Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally bounced back Thursday from the prior day’s retreat.
X
Nvidia (NVDA) and Advanced Micro Devices (AMD) were big winners on a strong day for semiconductors. Nvidia and AMD stock cleared some resistance levels, offering aggressive add-on entries for existing long-term holders.
Fellow chipmaker Broadcom (AVGO) cleared a buy point, while commodity plays Marathon Petroleum (MPC) and BHP (BHP) broke out, at least intraday. Google parent Alphabet (GOOGL) flashed a fresh buy signal. Anthem (ANTM) moved back into a buy zone as health insurers and service providers act well.
Nio Earnings
After the close, Tesla (TSLA) EV rival Nio (NIO) reported a wider-than-expected loss while revenue narrowly topped.
Earlier Thursday, the first luxury ET7 sedans rolled off the assembly line. On March 28, Nio ET7 deliveries begin. Xpeng (XPEV) reports earnings on Monday, with EV giant BYD (BYDDF) also likely due that week, along with March China EV sales.
Nio stock fell 2% in overnight trading. Shares rose 0.5% Thursday. XPEV stock and BYD stock also rose a fraction. Tesla stock climbed 1.5% to 1,013.92.
Stocks On IBD Lists
Nvidia stock, Tesla and Anthem are on IBD Leaderboard. AMD stock was added to SwingTrader. Google stock is on IBD Long-Term Leaders. Tesla, Nvidia and AVGO stock are on the IBD 50.
The video embedded in the story discusses Thursday’s market rebound and analyzes Nvidia, AMD and AVGO stock.
Dow Jones Futures Today
Dow Jones futures edged lower vs. fair value. S&P 500 futures sank 0.15% and Nasdaq 100 futures fell 0.2%.
The 10-year Treasury yield rose 3 basis points to 2.37%. Crude oil prices fell 1%.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Stock Market Rally
The stock market rally bounced back from Wednesday’s retreat, gaining steam after a NATO meeting without any surprises.
The Dow Jones Industrial Average rose 1% in Thursday’s stock market trading. The S&P 500 index popped 1.4%, with Nvidia stock and other chipmakers among the best performers. The Nasdaq composite jumped 1.9%. The small-cap Russell 2000 advanced 1.1%.
U.S. crude oil prices fell 2.3% to $112.34 a barrel, continuing to drift lower in electronic trading while stocks continued trading.
The 10-year Treasury yield rose 2 basis points to 2.34%, though off session highs.
ETFs
Among the best ETFs, Innovator IBD 50 (FFTY) rallied 2.2%, while Innovator IBD Breakout Opportunities (BOUT) climbed 0.8%. The iShares Expanded Tech-Software Sector ETF (IGV) retreated 0.7%. VanEck Vectors Semiconductor (SMH) leapt 4.9%. NVDA and AMD stock are major SMH holdings, with Broadcom a significant holding.
The SPDR S&P Metals & Mining ETF (XME) gained 2.7%, The Global X U.S. Infrastructure Development ETF (PAVE) advanced 1.2%. U.S. Global Jets (JETS) ascended 2.1%. SPDR S&P Homebuilders (XHB) slumped 1.1%. The Energy Select SPDR ETF (XLE) edged up 0.25%, and the Financial Select SPDR ETF…
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