July 23, 2024

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Dow Jones Futures Rise: Market Holds Strong, Tesla, Palantir Rally; Two Big Earnings Winners

2 min read

Dow Jones futures edged higher overnight, along with S&P 500 futures and Nasdaq futures. CrowdStrike (CRWD), Intuit (INTU), Workday (WDAY) and NetApp (NTAP) headlined a busy night of earnings.


The stock market rally had another quiet session Tuesday. The major indexes rose slightly, as Treasury yields continued to slide. Crude oil futures rebounded.

Tesla (TSLA) moved above a key level heading into the Cybertruck delivery event Thursday night. Palantir Technologies (PLTR) rebounded from a key level, perhaps offering an aggressive entry. AMZN stock and Nvidia (NVDA) held buy points as Amazon.com (AMZN) announced a new AI chip and AI chatbot.

Amazon and Nvidia stock are on IBD Leaderboard. Nvidia, WDAY and CrowdStrike are on the IBD 50. CRWD stock is on the IBD Big Cap 20.

The video embedded in the article discussed Tuesday’s market action and analyzed TSLA stock, Palantir and Marriott Worldwide (MAR).

In other news, Berkshire Hathaway (BRKB) Vice Chairman Charlie Munger died Tuesday at the age of 99. Munger had been Warren Buffett’s longtime right-hand man. BRKB stock was little changed in late trading.

Dow Jones Futures Today

Dow Jones futures rose 0.15% vs. fair value. S&P 500 futures advanced 0.1% and Nasdaq 100 futures climbed 0.15%.

The 10-year Treasury yield fell several basis points to 4.29%.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Key Earnings

CRWD edged lower overnight. The cybersecurity play topped earnings views, with revenue and revenue guidance just edging past consensus. CrowdStrike stock rose 1.1% in Tuesday’s session, hitting a 52-week high.

INTU stock was just above break-even after the tax software giant beat fiscal Q1 views but guided lower on Q2. Intuit stock edged up 0.68% to 565.07 on Tuesday, holding in range of a 550.12 double-bottom buy point.

WDAY stock rose sharply in extended action, setting up a possible entry…

2023-11-28 21:50:25

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