From Investor’s Business Daily: 2024-08-16 07:31:11

Dow Jones futures, along with S&P 500 and Nasdaq futures, dipped early Friday. The stock market rally soared on Thursday, with key indexes above their 50-day lines. Retail sales and economic data boosted the case for modest Fed rate cuts. Nvidia reclaimed its 50-day line, offering an early entry, while Meta Platforms flashed buy signals. Tesla offered a very aggressive entry, with Shake Shack and GE Vernova clearing buy points. Applied Materials reported strong earnings, with AMAT stock falling modestly in premarket trading. Dow Jones futures were slightly below fair value on Friday. The market rally gained momentum, with the Nasdaq above its 50-day moving average and key indexes showing strength. U.S. crude oil prices rose, while the 10-year Treasury yield rebounded. Growth ETFs like IBD 50 and Semiconductor ETF surged, along with story stocks like Tesla and Meta. Nvidia, Tesla, Meta, GE Vernova, and Shake Shack stocks showed notable movements, signaling investors to gradually add exposure in a variety of sectors.



Read more at Investor’s Business Daily: Dow Jones Futures: Market Sends Clear Message, Are You Listening? Nvidia, Meta, Tesla Lead New Buys