Dow Jones futures rose modestly Friday morning, along with S&P 500 futures and Nasdaq futures, as AFRM stock signaled “buy now” on earnings.
The stock market rally lost more ground on the major indexes Thursday, with the Dow Jones undercutting its 50-day line for at least one session. But there was positive action beneath the surface.
American Airlines (AAL) and other carriers jumped Thursday as several issued warnings but also offered hints that the worst is over as Covid cases level off. AAL stock flashed a buy signal. Other travel-related stocks, from hotels to casinos to Airbnb (ABNB), have trended higher over the last several days.
Lululemon Athletica (LULU) gapped out of a long consolidation on earnings. RH (RH) flashed at least early buy signals on its results. TopBuild (BLD) and HCA Healthcare (HCA) also broke out past buy points, at least intraday.
Cybersecurity firm Zscaler (ZS), fintech Affirm (AFRM) and wood pellet grill IPO Traeger (COOK) reported earnings after the close. Zscaler and Traeger beat views and guided higher. But AFRM stock was the big overnight winner, flashing an aggressive entry
TopBuild stock is on IBD Leaderboard. BLD stock also was Thursday’s IBD Stock Of The Day. AAL stock is on SwingTrader.
The video embedded in the article analyzed LULU stock, RH and Macy’s (M).
Dow Jones Futures Today
Dow Jones futures climbed 0.45% vs. fair value, suggesting that blue chips retaking their 50-day line. S&P 500 futures advanced 0.4% and Nasdaq 100 futures rose 0.4%.
Crude oil futures, copper prices and the 10-year Treasury yield rose.
Federal Reserve policymakers are working to agree at their Sept. 21-22 meeting that they’ll scale back their easy money policies, starting after their early November meeting, according to the Wall Street Journal.
President Biden and China President Xi Jinping held their first phone call in seven months.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.