Dow Jones futures rose slightly Friday morning, along with S&P 500 futures and Nasdaq futures, with a crucial inflation report looming large before the open. Costco Wholesale (COST), Oracle (ORCL) and Broadcom (AVGO) headlined key earnings after the close.
The stock market rally attempt gave up some ground Thursday, with Tesla (TSLA), Lucid stock and other high-octane names leading the retreat.
Costco, Oracle and Broadcom reported earnings after the close.
The Dow Jones held steady with the S&P 500 retreating and Nasdaq selling off, with the latter undercutting its 21-day moving average. The rally attempt continues but needs a follow-through day to confirm the new uptrend. Was Thursday just a pause or a shakeout before a strong year-end rally, or is this the start of something bigger?
Ford Motor (F), Tempur Sealy (TPX), Saia (SAIA), Regeneron Pharmaceuticals (REGN), Pfizer (PFE), Arista Networks (ANET) and Google parent Alphabet (GOOGL) are seven stocks to watch. Several of these names, including Google, Regeneron and ANET stock, have flashed buy signals this week.
Earnings After Hours
Costco earnings beat on better-than-expected same-store sales. COST stock rose modestly before Friday’s open. Shares have pulled back to the 21-day in recent days.
Lululemon Athletica (LULU) earnings topped as the yoga apparel retailer cited a strong start to holiday sales. But Lululemon gave so-so guidance for the current quarter as it forecast weak demand for its Mirror at-home fitness device. LULU stock tilted lower in premarket trade. Shares have trended lower in the past few weeks.
Oracle earnings and revenue topped views late Thursday, with the software giant also setting a $10 billion buyback. ORCL stock soared 12% in extended trade, signaling a move above its 50-day line. Oracle stock is in a base, but had been trending lower since late October.
Broadcom topped EPS views and gave strong guidance. The chip and software giant also announced a $10 billion stock buyback and 14% dividend hike. AVGO stock rose 6% overnight. Broadcom stock is trading near record …….