Dow Jones futures edged higher Thursday morning, along with S&P 500 futures and Nasdaq futures. More jobs data is on tap with big earnings reports after the close.
The stock market rally weathered weak economic reports Wednesday to close mixed. Tesla, Palantir Technologies and CrowdStrike fall hard intraday, but held key levels.
Tesla stock undercut support before the open.
Dow Jones Futures Today
Dow Jones futures rose a fraction vs. fair value. S&P 500 futures and Nasdaq 100 futures tilted higher.
U.S. crude oil prices edged higher after falling 0.9% to $62.85 a barrel on Wednesday. The 10-year Treasury yield dipped to 4.34% after tumbling 9.5 basis points in the prior session to 4.36%.
Gold rose slightly while silver and copper futures jumped.
Remember that premarket action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
Key Earnings, News
Heavy construction firm Argan and specialty discounter Five Below both beat on earnings late Wednesday. Argan stock climbed slightly before the open; Five Below jumped. Both have had big runs over the past two months.
Thursday night, Broadcom and Rubrik headline earnings. Both tech leaders are extended.
At 8:30 a.m. ET, the Labor Department is scheduled to release weekly jobless claims.
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Stock Market Rally
The stock market rally faced a weak ADP Employment Report, ISM services index and Fed's beige book. But, helped by lower Treasury yields, the major indexes closed mixed.
The Dow Jones Industrial Average fell 0.2% in Wednesday's stock market trading, dipping back below its 200-day moving average. The S&P 500 was just above break-even. The Nasdaq rose 0.3%, inching toward all-time highs. The small-cap Russell 2000 declined 0.2%.
While Tesla, Palantir and CrowdStrike fell, many leaders held up or rose Wednesday, though with few brand-new buying opportunities.
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Growth ETFs
The Innovator IBD 50 ETF edged up 0.1%. And the iShares Expanded Tech-Software Sector ETF dipped 0.2%. Palantir and CrowdStrike are top-10 IGV components with Rubrik stock also in the ETF. The VanEck Vectors Semiconductor ETF rallied 1.2%. Broadcom stock is a top SMH member. ARK Innovation ETF climbed less than 0.1%. Tesla stock is the No. 1 holding across ARK Invest's ETFs.
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Tesla Undercuts Key Level
Tesla stock fell 3.55% on Wednesday to 332.05, just holding the 21-day.
Early Thursday, TSLA stock declined more than 2%, dropping below the key level.
Weak Tesla sales in China and Europe, along with concerns about an Elon Musk split with President Trump are likely factors for the sell-off. The upcoming Tesla robotaxi launch could trigger huge moves.
CrowdStrike, Palantir Hold Support
CrowdStrike dived from record highs soon after Wednesday's open to 445.25 following mixed results and weak revenue guidance for the cybersecurity leader. That undercut the 21-day line and a 451.15 buy point. CRWD stock bounced, closing off 5.8% to 460.56, even though it came off late morning highs.
Palantir stock fell as low as 125.58 Wednesday morning, nearly touching the 125.25 cup-with-handle buy point. PLTR stock closed down just 2.4% to 130.01.
Palantir and CrowdStrike edged lower early Thursday, still holding key levels.
Dow Jones Futures: What To Do Now
The stock market rally had a relatively quiet session after some decent gains.
If the S&P 500 and Nasdaq slip back into their recent ranges, some breakouts could struggle, so investors have to exit plans ready. But further gains would trigger more buying opportunities, while sideways action could let more setups form. So watchlists are important.
For now, it's a good time to be heavily or even fully invested.
Late Thursday, Broadcom, Rubrik, DocuSign, Samsara and more will cap the last big batch of earnings reports for weeks.
Tesla stock, Broadcom, Rubrik and CrowdStrike are on IBD Leaderboard. Palantir, CrowdStrike, Argan and Rubrik stock are on the IBD 50 list. Palantir, Broadcom, CrowdStrike stock are on the IBD Big Cap 20. Palantir stock and Argan are on IBD Sector Leaders.
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