Dow Jones Futures Rise, Ford Signals Breakout, Tesla Jumps; Here Come Apple Earnings – Investor’s Business Daily
Dow Jones futures rose modestly Thursday morning, along with S&P 500 futures and Nasdaq futures, after the stock market rally closed near session lows for a second straight session. ServiceNow (NOW) and Ford Motor (F) were key earnings overnight. But investors will soon have key economic data with Apple (AAPL) earnings Thursday night.
The stock market rally finished poorly again on Wednesday with the Dow Jones and S&P 500 retreating. The Nasdaq composite closed essentially flat, even with Microsoft stock, Google parent Alphabet (GOOGL) and, to a lesser extent, Tesla (TSLA) providing a boost. Microsoft (MSFT) is closing in on Apple stock’s market cap, while Google stock broke and approached a $2 trillion valuation. But many leaders showed wild action, while market breadth was weak.
The 10-year Treasury yield fell sharply Wednesday, extending recent declines, while crude and copper prices fell solidly.
NOW stock, Ford, Upwork (UPWK), eBay (EBAY), Edwards Lifesciences (EW) and Twilio (TWLO) reported earnings after the close. ServiceNow, Ford and UPWK stock had all pulled back from buy points after briefly breaking out over the past week or so. EBay stock closed in buy range. EW stock and Twilio were near potential early entries.
Ford stock was the standout, jumping 8% before the open on strong earnings, raised guidance and a renewed dividend, despite missing on revenue. F stock is signaling it’ll flash at least an early entry and likely an outright breakout on Thursday. That came after it retreated modestly Wednesday on mixed results and weak Q4 guidance from General Motors (GM).
ServiceNow earnings topped but NOW stock retreated modestly in premarket trading. UPWK stock tumbled despite a beat-and-raise report. EW stock declined modestly after Edwards narrowly beat Q3 EPS views on roughly in-line revenue, while guiding low on Q4 EPS. EBAY stock pulled back solidly overnight on weak revenue guidance. TWLO stock plunged despite the software maker reporting a surprise Q3 profit, as Q4 guidance was mixed and the COO will exit.
Apple Earnings Loom
On Thursday night, …….