Dow Jones futures rose modestly early Friday, along with S&P 500 futures and Nasdaq futures. The stock market rally made a strong move Thursday, with the S&P 500 and Nasdaq enjoying their best gains in months while growth names continued to power higher.
Alcoa (AA) reported better-than-expected earnings after Thursday’s close, while also announcing a new dividend and AA stock buyback. Trucking firm J.B. Hunt (JBHT) topped views early Friday.
Microsoft stock, Nvidia (NVDA), ServiceNow (NOW) and Google parent Alphabet (GOOGL) made bullish moves from their 50-day moving averages. Freeport-McMoRan (FCX) broke higher in heavy volume above its 200-day line while Snowflake (SNOW) cleared a handle buy point.
Alcoa stock potentially is actionable stock Friday, though it might be out of reach. The aluminum giant jumped 7% in premarket trade after its earnings and shareholder return news. AA stock edged up 0.4% to 48.60 on Thursday, 4.4% above its 10-week line.
Instead, JBHT stock appears to be a more likely candidate Friday. Shares rose 3.5% before the open. On Thursday, JBHT climbed 2.3% to retake its 50-day line, offering an early entry if it weren’t for the early Friday earnings.
Meanwhile, several other stocks made big moves Thursday, including Upstart Holdings (UPST) and Ambarella (AMBA). But they could be seen as extended now.
Microsoft (MSFT), Nvidia, ServiceNow, Google and SNOW stock are all on IBD Leaderboard, along with Upstart. Nvidia stock is on SwingTrader. Microsoft, ServiceNow and Google stock are all IBD Long-Term Leaders. UPST stock, Taskus, Ambarella and Google are on the IBD 50. Microsoft was the IBD Stock Of The Day.
The video embedded in this article analyzed an important market day as well as Google, Nvidia and AMN Healthcare (AMN).
Dow Jones Futures Today
Dow Jones futures rose 0.5% vs. fair value. S&P 500 futures advanced 0.4% and Nasdaq 100 futures climbed 0.3%.
The 10-year Treasury yield rose 2 basis points to 1.54% after falling eight basis points over the prior three sessions.
Crude oil prices rose 1%, …….