Dow Jones futures rose early Thursday, along with S&P 500 futures and Nasdaq futures, as President Donald Trump's chip tariff plan carried a big exemption.
Late Wednesday, DoorDash, AppLovin, Symbotic, Fortinet, DraftKings led Wednesday night earnings. ELF Beauty, TSS, Dutch Bros and IonQ also reported.
Nuclear power plays Constellation Energy, Talen Energy and Vistra reported before the open.
Apple buoyed the stock market Wednesday amid huge earnings winners and losers.
Google-parent Alphabet, Amer Sports and Tesla all rallied toward buy points Wednesday.
DoorDash stock and Vistra are on the IBD Leaderboard. TSS stock is on IBD Leaderboard.
Trump Plans 100% Chip Tariffs
resident Donald Trump said late Wednesday that he will set a 100% tariff on semiconductors, unless companies shift manufacturing to the U.S. or plan to do so. That would seem to spare Taiwan Semiconductor, which is expanding its U.S. footprint, and key customers such as Nvidia and AMD. It's unclear if the tariffs would apply to electronics. Trump said he expects Apple to make the iPhone in the U.S.
Taiwan Semi stock and Dow titan Apple rose solidly early Thursday, but Intel fell as Trump called for the CEO to resign.
Dow Jones Futures Today
Dow Jones futures were 0.4% above fair value. S&P 500 futures rose 0.6% and Nasdaq 100 futures climbed 0.7%.
The 10-year Treasury yield rose slightly to 4.25%. Crude oil futures edged higher.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
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Stock Market Rally
The stock market rally saw the Nasdaq lead after the major indexes fell Tuesday.
Apple stock jumped 5.1%, lifting the major indexes, as the tech giant's new U.S. investment pledge raised hopes that President Donald Trump would largely exempt the iPhone from tariffs. AAPL stock edged high
The Dow Jones Industrial Average rose 0.2% in Wednesday's stock market trading. The S&P 500 index climbed 0.7%. The Nasdaq composite jumped 1.2%. The small-cap Russell 2000 dipped 0.2% after advancing Tuesday.
All the indexes are up more than 2% for the week and within the recent range of the past few sessions. The Nasdaq is just below a record close.
Big earnings winners included Astera Labs, Shopify, Stride and Centrus Energy.
Super Micro, Advanced Micro Devices, Dave, StoneX and NRG Energy were big losers.
U.S. crude oil prices fell 1.2% to $64.35 a barrel, skidding 8.1% over the last five sessions.
The 10-year Treasury yield rose two basis points to 4.22%.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF advanced 0.5%. The iShares Expanded Tech-Software Sector ETF rallied 1.2%, with AppLovin and Fortinet stock key holdings. The VanEck Vectors Semiconductor ETF fell 0.2%. ARK Innovation ETF jumped 2.1%. Tesla stock is the No. 1 holding across ARK Invest's ETFs.
SPDR S&P Metals & Mining ETF declined 0.2%. SPDR S&P Homebuilders ETF sank 0.7%. The Industrial Select Sector SPDR Fund The Financial Select SPDR ETF climbed 0.5%.
Best Growth Stocks To Buy And Watch
Key Earnings
DoorDash, AppLovin, Symbotic, Fortinet, DraftKings, TSS, ELF Beauty, Dutch Bros and IonQ reported after the close, with Constellation Energy and Talen Energy early Thursday.
Dutch Bros vaulted higher in premarket trade while DASH stock and DraftKings jumped. DKNG stock had closed the prior session in buy range. Talen Energy rose modestly.
Symbotic, Fortinet, ELF Beauty and TSS sold off in extended trade. IonQ and Vistra fell solidly while Constellation Energy and AppLovin declined slightly. TSS, IonQ, Vistra, Constellation Energy and APP stock had closed near buy points.
Stocks Near Buy Points
Google stock edged up 0.7% to 196.09 on Wednesday. On a weekly chart, GOOGL stock has a 197.95 cup-with-handle buy point. The relative strength line isn't stellar but has improved over the past few weeks, reflecting recent outperformance vs. the S&P 500.
Amer Sports gained 2.7% to 38.98, rebounding from the 21-day and 50-day lines. The owner of active apparel and sporting goods brands has a 40.21 flat-base buy point. Investors could use Tuesday's high of 39.13 as an early entry. Amer Sports earnings are due Aug. 19.
Tesla stock popped 3.6% to 319.92, just below its 50-day and 200-day lines. CEO Elon Musk teased a big Full Self-Driving update, perhaps by the end of September. A decisive move above those levels would offer a trendline entry, with 338 another early entry. TSLA stock is in a consolidation with a 367.71 traditional buy point, according to MarketSurge. The RS line has lagged for several weeks and generally in 2025.
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What To Do Now
The stock market has had some intraday swings, but the key indexes are moving back toward record or recent highs.
Earnings season has been filled with gold mines and land mines, especially this week. Investors still need to be aware of key earnings for their holdings and what their game plans are.
Keep working on watchlists.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.