Stock market rallied, hitting fresh highs with leading stocks performing well

From Investor’s Business Daily: 2024-07-05 22:56:00

Dow Jones, S&P 500, and Nasdaq futures will open Sunday evening. JPMorgan Chase and other banks will kick off earnings season next week. The stock market rally last week saw the S&P 500 and Nasdaq hit fresh highs. President Biden’s interview aired Friday evening. Biden reaffirmed he will not drop out of the race. Fed Chief Jerome Powell will testify before Congress this week. Nvidia, Meta Platforms, and Palantir Technologies are in buy zones. Earnings reports from JPMorgan Chase, Wells Fargo, and Citigroup are due this week. Tesla stock rallied 27.1% last week.

The stock market rally showed positive action last week. The Nasdaq is increasingly extended, while small caps retreated below a key level. Most leading stocks are performing well. Inflation and earnings reports are upcoming market events to watch. Tesla stock soared and is extended from a buy point. Nvidia stock is bouncing off the 21-day line. Meta, Palantir, and ASML stocks are in buy zones. The broader bullish trend remains intact. Investors are advised to be prepared for market fluctuations and pay attention to earnings reports.



Read more at Investor’s Business Daily: Dow Jones Futures: Stock Market Risks Rise As Tesla Soars, Palantir Breaks Out; Biden Interview Airs