Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. Palantir Technologies, Nvidia rival Advanced Micro Devices and Shopify headline another big week of earnings reports.
The stock market rally suffered its worst week in months. The indexes broke or tested key levels in Friday's sell-off amid new Trump tariffs and a weak jobs report.
Investors may have wanted to cut some stocks and overall exposure Friday. Have a game plan ready for Monday.
AMD earnings Tuesday night will be key for AI demand broadly, especially with Arista Networks, Nvidia partner Super Micro Computer, Astera Labs also set to report. AI hardware and related sectors had been doing well until late last week, buoyed by strong capital spending forecasts by the likes of Microsoft and Meta Platforms.
Nvidia stock and Palantir are on IBD Leaderboard. Palantir stock is on SwingTrader. Microsoft stock is on IBD Long-Term Leaders. Astera Labs stock, Shopify, Super Micro, Arista Networks, Nvidia and Palantir are on the IBD 50. Nvidia, Palantir, Microsoft, Arista and AMD stock are all on the IBD Big Cap 20.
Dow Jones Futures Today
Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze leading stocks and the market on IBD Live
Stock Market Rally
The stock market rally suffered a weekly sell-off after the Nasdaq and S&P 500 hit record highs Thursday, with the major indexes on Friday suffering their worst one-day loss in months.
President Donald Trump imposed new tariff rates for dozens of countries, effective Aug. 7.
A weak jobs report Friday revived Fed rate hopes, but also raised concerns about the economy, especially with core inflation also picking up. President Trump fired the head of the Bureau of Labor Statistics following the job reports, claiming partisan bias. The move, widely criticized, may undermine faith in economic data going forward.
Earnings were mixed during the week, with Meta among the many winners while fellow titan Amazon was a notable loser.
The Dow Jones Industrial Average declined 2.9% in last week's stock market trading, testing its 50-day moving average on Friday. The S&P 500 index and the Nasdaq composite lost 2.4% and 2.2%, respectively, both undercutting their 21-day moving averages.
The small-cap Russell 2000 sold off 4.2%, falling below its 50-day and 200-day lines.
The Invesco S&P 500 Equal Weight ETF lost 3.3%, but closed above its 50-day line. The First Trust Nasdaq 100 Equal Weighted Index ETF shed 3.7%, finishing below the 50-day.
Arguably the market was due for a pullback. Will the Nasdaq and S&P 500 find their footing or drop down to their 50-day lines, while other indexes and ETFs break decisively below that key level?
The 10-year Treasury yield dived 17 basis points to 4.22%, with nearly all of that decline coming Friday. The two-year Treasury yield, more closely tied to Fed policy, tumbled 21 basis points to 3.7%, including 25 basis points on Friday, to a three-month low.
U.S. crude oil futures rose 3.3% to $67.33 a barrel, despite sliding 2.8% on Friday.
Why This IBD Tool Simplifies The Search For Top Stocks
ETFs
Among growth ETFs, the Innovator IBD 50 ETF sank 2.45% last week. The iShares Expanded Tech-Software Sector ETF slumped 3.6%, even with Microsoft stock a big holding. The VanEck Vectors Semiconductor ETF slipped 1.2%, with AMD stock a big SMH holding.
ARK Innovation ETF dived 7.3% last week and ARK Genomics ETF plunged 9.5%. Shopify stock and AMD are top-10 holdings across ARK Invest's ETFs.
SPDR S&P Metals & Mining ETF slumped 6.7%, breaking a long weekly win streak. SPDR S&P Homebuilders ETF slipped 2.6%. The Energy Select SPDR ETF declined 1.7% and the Health Care Select Sector SPDR Fund retreated 3.9%.
The Industrial Select Sector SPDR Fund fell back 3.4%. The Financial Select SPDR ETF dropped 3.8%.
Best Growth Stocks To Buy And Watch
What To Do Now
After rising steadily over the prior month, and strongly since early April, the stock market had a bad Friday to cap a tough week.
Investors may have needed to cut some stocks late last week because they were losers or round-tripping gains. Simply trimming exposure also made sense
When the market is falling, it's not easy to decide whether to sell down positions or to be patient. Having sell rules and a game plan ahead of time helps keep the emotions out. The key isn't to be right every time, but to find a strategy that works for you in terms of protecting your portfolio vs. riding winners for the long term.
When the market is falling, see which stocks hold up the best and are first to rebound. These could be names to focus on if and when the market bounces.
Palantir headlines earnings Monday night, AMD (plus Super Micro and Arista Networks) will be focus late Tuesday, withe Shopify early Wednesday.
Investors also will get results from DoorDash, Fortinet, Hims & Hers Health, MercadoLibre, Caterpillar, Toast, Sezzle, Twilio, Disney, Constellation Energy, Vistra and Rocket Lab, along with many more.
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.
