Dow Jones Futures Rise On Salesforce Earnings; GE, GM Lead 7 Buys In Hide-And-Seek Stock Market Rally – Investor’s Business Daily
Dow Jones futures rose modestly early Friday, along with S&P 500 futures and Nasdaq futures, while Bitcoin fell back again from a key level. Thursday’s hide-and-seek stock market rally that offered several new buying opportunities, including GM stock, General Electric and FedEx (FDX).
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Dow Jones giant Salesforce.com (CRM), 360 Digitech (QFIN) and Autodesk (ADSK) headline key earnings overnight.
Hide And Seek Market Rally
Much like Wednesday, the stock market rally had a quietly bullish session Thursday. It’s a hide-and-seek rally that’s fun to play for keen-eyed investors.
The major indexes and tech giants such as Apple stock helped “hide” actionable stocks.
Apple (AAPL), the most valuable company at $2.09 trillion retreated Thursday, with its relative strength line at a 10-month low. Microsoft (MSFT), Amazon.com (AMZN) and Google parent Alphabet (GOOGL), with market caps above $1.5 trillion, also fell slightly.
Meanwhile, Nvidia (NVDA), ASML (ASML), Applied Materials (AMAT), Adobe (ADBE) and Salesforce stock had modest declines to slim gains.
In many cases, such as Google stock, Nvidia and ASML, the pause was arguably positive. But the upshot for investors is that big- and megacap names masked stronger performance among leading stocks.
Active investors could seek out and find several stocks flashing early entries or breakouts, including General Motors (GM) General Electric (GM) and FedEx stock, as well as TransDigm (TDG), Arcelor Mittal (MT), Albemarle (ALB) and Magna (MGA).
As those names suggest, the auto, aerospace, shipping and steel sectors had strong sessions, along with financials and many recent IPOs.
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Key Earnings
Salesforce earnings topped views. CRM stock rose 5% early Friday, signaling a move back above its 200-day line. Shares of the business software giant fell 1.7% to 225.83 Thursday.
360 Digitech earnings and revenue crushed views yet again, though …….