Dow Jones futures was little changed early Friday, along with S&P 500 futures and Nasdaq futures. Intel plunged on turnaround concerns while Tesla reportedly plans to expand its robotaxi service to San Francisco this weekend, with a big caveat.
The stock market rally had another mixed session Thursday, but the S&P 500 and Nasdaq both hit new highs. Google-parent Alphabet and ServiceNow rose on earnings, but closed well off intraday bests.
Nvidia, Advanced Micro Devices Broadcom and other AI plays rose on the back of Google's raised capital spending plans. Tesla gapped lower as CEO Elon Musk warned of "a few rough quarters" ahead.
Veeva and DoorDash flirted with buy points while Urban Outfitters fell back below a buy point.
The video embedded in the article reviewed Veeva stock, DoorDash and Urban Outfitters. DoorDash was Wednesday's IBD Stock Of The Day.
Dow Jones Futures Today
Dow Jones futures advanced 0.1% vs. fair value. S&P 500 futures climbed 0.1%. Nasdaq 100 futures were flat.
After the close, long-ailing chip giant Intel reported mixed Q2 earnings and Q3 guidance. Intel stock fell sharply in premarket action, signaling moves below key levels, on turnaround concerns.
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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Trump, Powell Argue Over Fed Costs
President Donald Trump visited Fed headquarters to inspect the Fed headquarters' renovation. Trump and Fed chief Jerome Powell, in front of reporters, disagreed over the project's overall costs. White House officials and others have recently criticized big cost overruns, seemingly offering a possible pretext for Trump to fire Powell.
Trump has demanded that Powell slash interest rates and has toyed with the idea of firing the Fed chief, but said Thursday that is "not necessary." The Fed meets next week.
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Stock Market Rally
The stock market rally was mixed yet again, but this time the Nasdaq led while the Dow and especially small caps lagged.
The Dow Jones Industrial Average fell 0.7% in Thursday's stock market trading. The S&P 500 index edged up about 0.1%. The Nasdaq composite climbed 0.2%. The small-cap Russell 2000 tumbled 1.4%.
U.S. crude oil prices rose 1.2% to $66.03 a barrel.
The 10-year Treasury yield climbed two basis points to 4.41%.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF fell 0.3%. The iShares Expanded Tech-Software Sector ETF climbed 0.25%, buoyed by ServiceNow. The VanEck Vectors Semiconductor ETF advanced 0.4%. Nvidia, Broadcom and AMD stock are all huge SMH holdings, with Intel also in the ETF.
ARK Innovation ETF and ARK Genomics ETF both sank 2%. Tesla stock is the No. 1 holding across ARK Invest's ETFs.
SPDR S&P Metals & Mining ETF gave up 1.45%. The Energy Select SPDR ETF climbed 0.7% and the Health Care Select Sector SPDR Fund declined 0.4%.
The Industrial Select Sector SPDR Fund fell 0.2%. The Financial Select SPDR ETF lost a fraction.
Best Growth Stocks To Buy And Watch
Stocks On The Move
ServiceNow stock gained 4.2% to 996.18, but closed below its 50-day line after briefly spiking to 1,051, retaking a prior buy point. The software giant reported strong earnings and guided slightly higher.
Google reported solid earnings growth, fueled by cloud-computing growth. Google stock climbed 1% to 192.13, off morning highs of 197.95. Shares are again extended from a buy point.
On the back of Google's stepped-up capital spending forecast, Nvidia stock rose 1.7% to just below recent all-time levels. Broadcom stock gained 1.8% to a new high. AMD gained 2.2% to a fresh 2025 high. All are significantly extended.
Veeva stock rose 1.8% to 291.25, testing a 291.69 flat-base buy point formed after a late May earnings gap out of a base.
DoorDash stock rose 1.3% to 243.69, moving off its 21-day line and breaking a short downtrend. DASH stock has a four-weeks-tight pattern with 248.74 as the buy point.
On the downside, Urban Outfitters tumbled 5.9% to 73.37, back below a 74.45 cup-with-handle buy point.
Tesla Stock
Tesla stock gapped down 8.2% on Thursday to 305.30, back below the 50-day and 200-day lines, though still within a recent base. The EV giant reported a 23% EPS decline, as expected. CEO Elon Musk, as usual, was bullish on robotaxis and self-driving, but he also warned of "a few rough quarters" after U.S. EV tax credits end Sept. 30.
Early Friday, TSLA stock edged higher. The EV giant told staff Thursday that it will launch its Robotaxi service in the San Francisco Bay areas this weekend, Business Insider said, citing an internal memo. But there will be a human in the driver's seat with full access to the controls vs. the passenger seat safety monitor in Austin.
Tesla does have a ride-hailing license in California, but no permits for driverless testing. It may not have applied for any such permits
In fact, Tesla is facing off in court vs California's DMV over its marketing of Autopilot and Full Self-Driving.
What To Do Now
The S&P 500 and Nasdaq are at all-time levels while the Dow is nearly there. Even the small-cap Russell hit a five-month high this week.
Investors can make some incremental buys. But aside from Veeva, DoorDash and a few others, setups are somewhat scarce, with several of those with earnings due in the next week.
Letting your winners run, perhaps taking partial profits on some names, makes a lot of sense.
Keep working on watchlists.
Nvidia and DoorDash stock are on IBD Leaderboard. Veeva and Broadcom stock are on SwingTrader. Urban Outfitters stock, Veeva and Nvidia are on the IBD 50. Veeva stock is on the IBD Big Cap 20. Nvidia stock is on Sector Leaders.
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