June 23, 2024

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Dow Jones Futures: Stock Market Shows Healthy Action As Apple Shifts To AI

2 min read

Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures.


The stock market rally is showing constructive action. The major indexes have been pausing around record highs for the past few days while the Russell 2000 is running back toward a two-year best, reflecting improving breadth. Apple (AAPL) rebounded slightly higher on a report that the iPhone giant is finally giving up on electric vehicles, with much of the team shifting toward generative AI.

Brazilian jet maker Embraer (ERJ) flashed a buy signal Tuesday while Shift4 (FOUR), which does business as Shift4 Payments, staged a bullish upside reversal on earnings. Meanwhile, Nvidia (NVDA) rival Advanced Micro Devices (AMD) is continuing to work on a base.

Urban Outfitters (URBN), First Solar (FSLR), Array Technologies (ARRY) and Lemonade (LMND) reported after the close.

Urban Outfitters stock, greatly extended, sold off overnight on an earnings miss. Ailing solar plays First Solar and and Array rose solidly and were flat, respectively, overnight on their results. Solar tracking firm Array is a rival to 2023 IPO Nextracker (NXT), which has been shining bright. LMND stock, which broke out Tuesday ahead of earnings, plunged overnight on weak guidance.

Dow giant Salesforce.com (CRM) leads several key software reports Wednesday night.

Lemonade stock is on the IBD 50. Embraer was Tuesday’s IBD Stock Of The Day. The video embedded in this article discusses Tuesday’s market action and analyzes Embraer, AMD and Shift4 stocks.

Dow Jones Futures Today

Dow Jones futures edged lower vs. fair value. S&P 500 futures and Nasdaq 100 futures rose a fraction.

The 10-year Treasury yield fell slightly 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.

Join IBD experts as they analyze leading stocks and the market on IBD Live

Stock Market Rally

The stock market rally had…

2024-02-27 22:47:19

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