From Investor’s Business Daily: 2024-05-01 20:00:00

Dow Jones futures, S&P 500 futures, and Nasdaq futures rose modestly overnight. Carvana and Qualcomm led earnings reports. The stock market rally attempted a comeback after the Fed announced a slowdown in balance sheet reductions. However, the major indexes closed mixed after a volatile afternoon. AI stocks struggled after AMD and Super Micro Computer reported earnings. Fed chief Powell noted slow progress towards the inflation target. Job openings fell in March, while the ISM manufacturing index dipped. In ETFs, tech and software sectors edged up, while semiconductors slumped. Qualcomm, DoorDash, Sprouts, and Carvana reported strong earnings. Novo Nordisk and Apple are expected to report earnings soon. The stock market rally remains uncertain, urging investors to stay cautious.



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