Dow Jones futures rose slightly early Thursday, along with S&P 500 futures and Nasdaq futures. Nvidia chipmaker Taiwan Semiconductor delivered a beat-and-raise report overnight.
The stock market rally had another volatile session, jumping at Wednesday's open on strong earnings reactions, but the major indexes gave up those gains before closing mixed. Growth stocks fared well overall.
Google parent Alphabet and FTAI Aviation flashed buy signals Wednesday.
Nvidia, Tesla and JPMorgan Chase teased entries soon after the open, but slashed gains or even reversed lower.
Google stock is on Leaderboard, with Tesla on the Leaderboard watchlist. Taiwan Semiconductor stock and FTAI are on the IBD 50. Nvidia stock is on IBD Sector Leaders. The video embedded in the article reviewed Google stock, FTAI Aviation and Nvidia.
Dow Jones Futures Today
Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures climbed 0.3% and Nasdaq 100 futures gained 0.5%.
The 10-year Treasury yield edged down to 4.03%.
Crude oil futures rose slightly.
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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Key Earnings, Guidance
Taiwan Semiconductor earnings easily beat views before the open, also guiding higher on Q4 sales amid strong AI demand. Taiwan Semi makes chips for Nvidia, Advanced Micro Devices, Broadcom, Apple and more. TSMC, a huge buyer of semiconductor equipment, kept capital spending forecasts intact.
TSM stock rose modestly before Thursday's open, on track for a fresh all-time high.
Charles Schwab modestly beat views. Before the open, Schwab stock rose solidly, signaling a move above the 50-day line and multiple early entries within a flat base, not far from an actual breakout. Interactive Brokers reports after the close, with IBKR stock already in a buy zone.
Late Wednesday, United Airlines reported better-than expected Q3 earnings and gave upbeat Q4 guidance, but revenue missed. United stock was little changed in premarket trade.
After the close, Salesforce.com gave upbeat long-term guidance. CRM stock jumped in premarket trade, but from near multiyear lows.
Hewlett Packard Enterprise late Wednesday guided low on fiscal 2026 amid slowing networking growth. HPE stock dived from near recent record highs.
Stock Market Rally
The stock market rally started off with strong, broad gains Wednesday amid solid earnings for Morgan Stanley, Bank of America and chip-gear giant ASML. But stocks steadily gave up gains, briefly turning lower before shoring up for a mixed but generally positive session.
Treasury Secretary Scott Bessent said early Wednesday that the Trump administration won't let the stock market prevent firm trade action vs. China. In the afternoon, he said the World Bank should end support for China.
The Dow Jones Industrial Average lost a fraction in Wednesday's stock market trading. The S&P 500 index gained 0.4%. The Nasdaq composite rose 0.7%. The major indexes continue to be within last Friday's range.
The small-cap Russell 2000 climbed 1%, hitting a new high, as overall advancers once again led decliners.
Overall growth stocks did well, though performance was uneven.
Defense firms fell as Bessent said the Treasury may ask them to limit stock buybacks.
U.S. crude oil prices declined 0.7% to $58.27 a barrel.
The 10-year Treasury yield rose two basis points to 4.045%.
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ETFs
Among growth ETFs, the Innovator IBD 50 ETF jumped 3%. The iShares Expanded Tech-Software Sector ETF dipped 0.3%. The VanEck Vectors Semiconductor ETF rose 2.5%. Nvidia stock and Taiwan Semiconductor stock are huge SMH holdings.
ARK Innovation ETF popped 2.8% and ARK Genomics ETF leaped 5.8%. Tesla stock is the No. 1 holding across ARK Invest's ETFs.
SPDR S&P Metals & Mining ETF declined 0.9%. U.S. Global Jets ETF ascended 0.5%, with United Airlines stock a huge holding. SPDR S&P Homebuilders ETF was up 0.2%. The Energy Select SPDR ETF lost a fraction and the Health Care Select Sector SPDR Fund edged up 0.15%.
The Industrial Select Sector SPDR Fund fell 0.4%.
The Financial Select SPDR ETF was flat. JPMorgan stock is a huge XLF holding, with Schwab also in the ETF.
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Google, FTAI Offer Buying Opportunities
Google-parent Alphabet stock rose 2.3% to 251.03, breaking a downtrend in a short consolidation.
FTAI Aviation stock climbed 2.1% to 174.16, breaking a downtrend in a short consolidation but coming off highs. On Tuesday, shares rallied from near the 10-week line. Investors could treat the recent action as a high handle within a deep, eight-month base.
Nvidia Reverses, Tesla Just Below Entry
Nvidia stock bounced to 184.87 at the open, momentarily regaining a 184.48 flat-base buy point, but reversed to close down 0.1% to 179.83, just holding the 50-day line. Nvidia's weakness is notable given the strength in many other chip names, such as TSMC, AMD and Broadcom.
Nvidia rose slightly early Thursday following TSMC's earnings.
Tesla stock climbed 1.4% to 435.15 on Wednesday, closing right on a steep downtrend within a volatile handle in a huge, long consolidation. Getting above Wednesday's high of 440.51 would offer an aggressive entry. The official buy point is 470.75. Tesla earnings are due on Oct. 22.
JPMorgan gained 1.2% during the session to 305.69, rebounding from the 50-day line in a day two earnings reaction, but ending near session lows. Investors could buy JPM stock if it can clear Wednesday's highs.
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What To Do Now
The stock market rally continues to have significant intraday swings. Stocks such as Nvidia and Tesla briefly teased buy signals before backing away.
Investors should be cautious about new buys in the current environment, though it's still a time to be significantly to heavily invested. Keep working on watchlists. The major indexes staying in a range is letting some stocks form handles and finish bases, while stronger names show relative strength.
But follow your sell rules as well. Know what your exit strategies are.
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