From Investor’s Business Daily: 2024-03-28 23:24:55

Dow Jones futures were little changed ahead of the release of the Federal Reserve’s favorite inflation report. The stock market rally saw solid gains this week, with small caps leading the way. Tech giants like Nvidia, Microsoft, and Meta Platforms are pulling back, while new AI chip IPO Astera Labs is forging a short IPO base. Expectations are low for Tesla and Chinese EV makers Nio, Li Auto, and XPeng. The Commerce Department will release the February PCE price index on Friday. Fed chief Jerome Powell will give a speech, with the odds of a June rate cut at 64%. Dow futures will reopen Sunday evening. The stock market rally saw modest-to-strong gains, with the Dow, S&P 500, and Nasdaq all showing positive movement. Growth ETFs like ARK Innovation and ARK Genomics climbed, while sectors like tech, semiconductors, and energy also saw gains. Nvidia stock fell this week, while Astera Labs continued to pull back after its IPO. Microsoft, Meta Platforms, and CrowdStrike are near buy points. Tesla stock rose slightly, but analysts are slashing estimates due to weak EV demand and increasing competition. The market is eagerly awaiting the upcoming earnings releases from Tesla and other major companies.



Read more at Investor’s Business Daily: Dow Jones Futures: Stock Market Strong Before Inflation Data; Will Nvidia AI Chip Peer Forge Base?