Finance

Futures: Four giants enter buying zone, leading market rebound


Dow Jones futures, S&P 500 futures and Nasdaq futures were little changed overnight ahead of the November jobs report on Friday morning. Broadcom (Lulu) headline earnings after the close.




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Stocks rebounded on Thursday, led by gains in large-cap technology stocks, with the major averages near 52-week highs.

Advanced Micro Devices (AMD) and Google Parent letter (Google) on Thursday, reaction to its big artificial intelligence announcement jumped.These artificial intelligence efforts will help them afford Nvidia (NVDA) and Microsoft (Microsoft Corporation), respectively.

AMD stock surges above multiple buy points while Google considers early entry. NVDA stock also rose, approaching key levels. Microsoft stock edged higher in buy territory.

In addition to AMD, large capacitors apple (AAPL), amazon.com (Amazon) and meta platform (Mehta) also recycled the point of purchase. Tesla (Tesla) continues to rebound from the 50-day line, approaching the buying point.

Amazon stock, Meta, Microsoft and Nvidia stocks are all listed IBD rankings.Nvidia, Apple stocks rise swing traderMSFT stock is located at IBD Long-Term Leader Microsoft, Meta Platforms, Nvidia, Google and LULU stocks are on the list IBD50.AMD is Thursday Daily IBD Stock.

Dow Jones Futures Today

Dow Jones futures rose 0.15% from fair value. S&P 500 futures were higher, while Nasdaq 100 futures were little changed.

The 10-year Treasury yield edged up to 4.16%.

Crude oil futures are expected to rise more than 1%.

The Labor Department will release the November jobs report at 8:30 a.m. ET. This will certainly impact Dow Jones futures, Treasury yields, and more. Investors hope the jobs report is not too hot, but not too cold, as concerns shift from inflation to recession risk.

Remember what you did that night Dow Jones Futures and other places that won’t necessarily translate into actual transactions on the next regular basis stock market Meeting.


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Broadcom, Lululemon, smart meter (Small) and Guidewire software (GWRE) reported Thursday night.

AVGO shares edged lower in overnight action Broadcom makes small profit Exceeded fiscal fourth quarter expectations. The chip and software giant gave upbeat guidance for fiscal 2024 and raised its dividend by 14%. Shares were up 2.1% at 922.26 in regular trading Thursday, having bounced back from around its 50-day line for weeks after moving lower in the past, typically on heavy trading volume. The effective price for Broadcom stock is 923.67 flat Buy point, but has been consolidating since late May.

LULU shares edge lower in long-term trade Lululemon’s earnings report gets the most attention But the yoga apparel giant guided for holiday quarter profit and sales that were slightly below consensus. Shares edged up 0.9% to 464.67 on Thursday. Lululemon stock has extended significantly out of buy territory, but is on its way to a new all-time high of 485.83 in November 2021.

SMAR stock rose strongly overnight after Smartsheet beat profit expectations. On Thursday, the stock edged up 0.3% to 44.89. SMAR stock consolidates at 52.81 buy someInvestors can use Tuesday’s high of 45.96 as an early entry point.

GWRE stock was little changed in the long-term action. Guidewire broke even, defying loss expectations, but guided for lower revenue for the quarter. The insurance software maker rose 0.8% to 98.85 on Thursday, finding support near its 21-day line. Guidewire shares closed within a 95.88 buy point range of a flat bottom.

Work report preview

Economists expect nonfarm payrolls to increase by 180,000 in November, up from 150,000 in October due to the UAW auto strike.

The unemployment rate should remain at 3.9%. Hourly wages are expected to grow by 0.3%, but the annual growth rate will edge down to 4%.

Earlier in the week, other labor data was generally weak, especially the job openings and ADP employment reports.

Stock market rebounds

Stocks rebounded on Thursday, with gains led by large-cap technology stocks.

The Dow Jones Industrial Average rose 0.2% on Thursday stock market tradingThe S&P 500 rose 0.8%, with AMD stock easily the best performer; the Nasdaq rose 1.4%.

The small-cap Russell 2000 index rose 0.9%.

While AMD and Google’s gains on Thursday were driven by artificial intelligence, more speculative AI stocks saw modest gains or even posted losses. C3.ai (AI.Shares gapped down 10.77% on Thursday due to weak revenue and guidance.

Even outside of AMD and Nvidia, chip stocks have been strong.Travel stocks performed well, including Booking Holdings (ikB)break out.

U.S. crude prices tried to rebound but ended down 4 cents at $69.34 a barrel, their lowest close since late June.

The 10-year Treasury yield edged up 1 basis point to 4.13%, hitting a three-month low after touching 4.18% on Thursday morning.

ETF

Among growth ETFs, iShares Expanded Tech-Software Sector ETF (IGV) rose 0.5%. Microsoft is a major holding of IGV. VanEck Vectors Semiconductor ETF (SMH) rose 2.3%. Nvidia and AMD stocks, along with Broadcom, are SMH’s top holdings.

The ARK Innovation ETF reflects the more speculative story stocks (alke) exceeds 0.5%, ARK Genomic ETF (arkg) 0.2%. Tesla stock remains a top holding in the Ark Invest ETF.

SPDR S&P Metals & Mining ETF (XME) rose 0.4%, with the Global X U.S. Infrastructure Development ETF (pave) increased by 0.5%. US Global Jets ETF (Jeters) rose 2.4%. SPDR S&P Homebuilders ETF (Xinhong) rose 0.8%. Energy Select SPDR ETF (XLE) fell 0.7%, with the Healthcare Select Sector SPDR Fund (XLV) fell 0.1%.

Industrial Select Sector SPDR Fund (XLI) rose slightly by 0.1%.

Financial Select SPDR ETF (XLF) rose 0.5%. SPDR S&P Regional Banking ETF (Korea Real Estate Association) rose 1.9%.


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AMD Stock

AMD shares soared 9.9% to 128.37, recovering 122.11 Cup with handle The buying point on the daily chart and the 125.73 buying point on the weekly chart have also been cleared. On Wednesday, AMD launched a new line of AI chips to challenge Nvidia. However, the stock price reversed from the buy point and closed slightly lower, below $21 per ounce. daily line.

Analysts generally praised AMD’s new AI chips, and Microsoft, Meta Platforms and OpenAI said they would purchase AMD’s AI accelerators and reduce their dependence on Nvidia.

Nvidia shares rose 2.4% to 465.96, rebounding from its 50-day moving average. The stock price is still below the 21-day line, and Thursday is the inside trading day for Wednesday’s downward reversal. NVDA stock remains active at 476.09 double bottom Buy some.

Google stock

Google shares rose 5.3% to 136.93, gapping back above its 50-day moving average.According to data, the stock is approaching a cup-and-handle buy point of 139.42 Market Smith AnalysisGOOGL shares are trading in a downtrend intraday, and investors can now use Thursday’s high of 138.56 as an early entry point.

On Wednesday, Google launched the Gemini large language model, which will provide support for the Bard chatbot and other companies to compete with Microsoft, OpenAI and other companies. On the same day, the stock price fell slightly by 0.7%. But on Thursday, JPMorgan said Gemini was a “significant innovation” for Google.

Microsoft’s stock price rose slightly by 0.6% to 370.95 points, breaking through the 21-day line and entering the 366.78-point range. bottom of cup Buy some. After several weeks of consolidating in the buy zone, MSFT stock is no longer extending its 50-day line.

Other supercapacitors

Apple shares rose 1% to 194.27 points, back above the 192.93 buy point and a $3 trillion valuation.

Amazon’s stock price rose 1% to 146.88, rebounding from near the 21-day line and once again regaining the 145.86 buying point.

Meta shares rose 2.9% to 326.59, bouncing off the 50-day line and edging back above the 21-day line and the 326.20 buy point, ending a six-day losing streak.

Tesla shares rose 1.35% to 242.60, marking the third consecutive slight gain since near the 50-day line. The stock is currently closing at the entry of the trend line, just below 250, and the recent high of 252.75. The official buy point for Tesla stock is 278.98 from a double bottom base.

On Thursday, Bloomberg reported that Dojo hardware chief Ganesh Venkataramanan had left Tesla. Other reports said he left last month, possibly due to frustration with the next-generation “Dojo 2” chip.


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what to do now

The major averages are near 52-week highs, but have yet to clear their recent sideways moves. A longer pause is healthy, but many stocks have taken control or pulled back to key levels over the past few days.

Investors could have taken advantage of AMD stock or some other buying opportunity on Thursday, but probably shouldn’t be too aggressive on the index in its near-term range. By adding exposure throughout November, investors have the luxury of letting their holdings perform.

But stay focused on your watch list. You want to know about emerging settings ahead of time so you can take advantage or not take advantage of them when they trigger entries.

read overall view Stay up to date with market direction and leading stocks and industries every day.

Follow Ed Carson on X/Twitter: @IBD_ECarsonThe thread is located at @edcarson1971 With the blue sky @edcarson.bsky.social Get stock market updates and more.

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