Dow Jones futures rose slightly early Friday, along with S&P 500 futures and Nasdaq futures.
Qualcomm fell modestly after China opened an antitrust probe into the wireless chip giant, citing its acquisition of Israeli firm Autotalks.
The stock market rally came off record highs Thursday but with only slim-to-modest losses. Taiwan Semiconductor fell modestly despite strong September sales, but Nvidia rose to a record high.
Another AI chip giant, Broadcom, is right around an early entry. Palantir Technologies, Oracle, Netflix and Alnylam Pharmaceuticals also are right around buy points.
On the downside, AppLovin fell solidly, back below a key level, as a rebound from Monday's sudden dive waned.
The video embedded in the article discusses Thursday's market action and reviews Oracle stock, AppLovin and Netflix.
Dow Jones Futures Today
Dow Jones futures rose 0.15% vs. fair value. S&P 500 futures advanced 0.1% and Nasdaq 100 futures climbed 0.1%.
The 10-year Treasury yield fell five basis points to 4.1%. Crude oil futures declined more than 1%.
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 retreated Thursday amid China's export curbs and signs of a longer government shutdown, but the indexes pared modest intraday losses.
China stepped up export curbs on rare earths as well as key EV battery components, raising U.S. trade tensions. Rare earth and lithium plays such as MP Materials and Albemarle were strong performers, though MP slashed intraday gains.
The Dow Jones Industrial Average declined 0.5% in Thursday's stock market trading. The S&P 500 index slipped 0.1%. The Nasdaq composite also closed down just 0.1%. The small-cap Russell 2000 retreated 0.6%.
The S&P 500 and Nasdaq, which briefly hit fresh intraday highs Thursday, never touched their 10-day moving averages. Neither did the Russell 2000. The Dow Jones neared its 21-day line, but isn't far from record levels either.
The Invesco S&P 500 Equal Weight ETF sank 0.8%, right on its 21-day line.
Nvidia stock rose 1.8% to 192.50, still in buy range. That helped support the major indexes.
Leading stocks were mixed, with little damage to charts.
Gold stocks fell solidly as gold prices retreated after surging to record highs.
U.S. crude oil prices fell 1.7% to $61.51.
The 10-year Treasury yield climbed two basis points to 4.15%.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF dropped 0.85%. The iShares Expanded Tech-Software Sector ETF lost a fraction, with Palantir and Oracle stock the biggest holdings and AppLovin a notable member. The VanEck Vectors Semiconductor ETF dipped 0.2%, with Nvidia, Taiwan Semiconductor and Broadcom stock all huge weights in SMH.
ARK Innovation ETF slipped 0.9% and ARK Genomics ETF declined 1.5%.
SPDR S&P Metals & Mining ETF edged up 0.1%. SPDR S&P Homebuilders ETF gave up 2.25%. The Energy Select SPDR ETF retreated 1.4% and the Health Care Select Sector SPDR Fund dipped 0.2%.
The Industrial Select Sector SPDR Fund slumped 1.5%.
The Financial Select SPDR ETF declined 0.4%.
Best Growth Stocks To Buy And Watch
Stocks Near Buy Points
Broadcom stock dipped 0.1% to 345.02. Shares have a 347.61 early entry in an emerging consolidation. On Tuesday, AVGO stock found support just above the 10-week line but rebounded to hold the 21-day.
Oracle stock gained 3.1% to 296.96, buoyed by a bullish analyst initiation. ORCL stock has retreated significantly from the record high of 345.72 hit on Sept. 10 on Oracle's huge AI backlog, but could be working on a new base. Shares tumbled toward their 10-week line intraday Tuesday on a bearish report, but they have rallied back. Oracle is close to a trendline entry, with 300 as a possible trigger.
Netflix stock rose 1.4% to 1,231.07, bringing the weekly gain to 6.7%. Last week, the streaming TV giant tumbled to its lowest level since mid-May, but it has roared back above the 50-day. It's now right on a downward-sloping trendline for an early entry. The consolidation buy point is 1,341.15. Netflix earnings are due on Oct. 21.
Palantir stock climbed 1% to 185.45, briefly moving back above a 185.75 cup-with-handle buy point. Last Friday, shares tumbled 7.5%, triggering a sell signal, on a report of a flawed communications system for the military. But Palantir responded, and so did PLTR stock.
Alnylam stock advanced 1.4% to 456.95, bouncing off the 50-day. Shares have been around the 21-day line for weeks. A move above short-term highs around 464-467 would offer an entry from the 50-day line. ALNY stock is working on a possible flat base with a 484.21 buy point.
AppLovin Stock
AppLovin stock slumped 4.7% to 600.32, back below its 21-day line. APP stock dived 14% on Monday, briefly testing its 10-week line, on a reported SEC probe. Shares bounced back strongly Tuesday but that is waning.
Investors who bought back in August might consider taking partial profits. AppLovin could find support at the 50-day or 10-week line, but that would be a significant drop from current levels.
What To Do Now
The stock market rally is still in a strong, steady uptrend.
Investors should cut losses on individual stocks and consider taking partial profits on extended winners or holdings that are falling back. But it's a time to be heavily invested. So keep looking for quality names setting up.
Palantir and Broadcom stock are on Leaderboard. Netflix, Broadcom, Palantir and Nvidia stock are on SwingTrader. Taiwan Semiconductor stock, Palantir, AppLovin are on the IBD 50. Palantir stock and Nvidia are on IBD Sector Leaders.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
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