Dow Jones Futures: Apple, Microsoft Lead Market Rally; Snap, Twitter Surge On Earnings, Chinese Stocks Hit Investor’s Business Daily – Investor’s Business Daily
Dow Jones futures rose modestly Friday morning, along with S&P 500 futures and Nasdaq futures, as Snap stock and Twitter leapt on earnings, lifting social rivals such as Facebook (FB). U.S.-listed Chinese stocks came under pressure again, with for-profit education firms hammered.
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The stock market rally was mixed Thursday, with Apple (AAPL), Microsoft (MSFT) and other megacap techs and software leading the way while small caps and many sectors retreated.
Snapchat parent Snap (SNAP), Twitter (TWTR) and Intel (INTC) reported earnings after the close.
Snap and Twitter earnings crashed views amid booming revenue growth. Snap and TWTR stock surged in overnight trade, signaling possible breakouts. That also gave a lift to Facebook stock and Pinterest (PINS), as well as Google stock, all of which report next week. Facebook and Pinterest stock had flashed bullish reversals from their 50-day lines earlier this week.
Intel beat views but gave mixed guidance. Intel stock fell modestly in extended trade.
Apple, Microsoft Lead Market Rally
The stock market rally edged higher Thursday on the major indexes. Apple stock rose 1% on Thursday while Microsoft, Amazon.com (AMZN) and Facebook stock climbed more than 1%. Google parent Alphabet (GOOGL) climbed 0.7%.
Leading stocks generally did well, with XPEL (XPEL), CrowdStrike (CRWD) among those flashing buy signals.
On the downside, small caps pulled back. So did many real economy sectors, though they pared losses.
Microsoft and Google stock are on IBD Leaderboard and IBD Long-Term Leaders. PINS stock is on SwingTrader. Snap stock, Pinterest and Google are on the IBD 50.
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U.S.-Listed China Stocks Hammered
U.S.-listed China stocks tumbled before the open. Didi Global (DIDI) continued to sell off amid a continued Chinese government crackdown vs. internet or consumer data heavy companies. Alibaba (BABA), JD.com (JD) and several others fell …….