Dow Jones futures and S&P 500 futures rose slightly Wednesday morning, while Nasdaq futures turned lower, following Tuesday’s broad stock market rally. Treasury yields and crude oil prices continued to climb while Bitcoin moved back above $30,000.
Netflix (NFLX) headlined key earnings reports late Tuesday, along with Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG). Netflix earnings missed while its subscriber guidance was light. NFLX stock fell slightly in premarket trading. Intuitive Surgical and Chipotle earnings topped, with both stocks rising overnight.
Dutch chip-equipment giant ASML (ASML) released mixed Q2 results early Wednesday morning but raised guidance. ASML stock climbed after holding above its 50-day line on Tuesday.
The stock market rally rebounded Tuesday with broad-based gains, though it came on lighter volume. The major indexes all extended rebounds from Monday’s intraday lows. The 10-year Treasury yield, which fell Tuesday morning to fresh five-month lows, rebounded higher. Crude oil prices rose slightly after plunging Monday.
Leading stocks fared well Tuesday.
DocuSign (DOCU) broke out while Facebook (FB) rebounded bullishly from its 50-day and 10-week lines. Marvell Technology (MRVL), Shopify (SHOP), Sea Ltd. (SE) and PayPal (PYPL) were among stocks reclaiming official buy points.
The video embedded in this article analyzes DocuSign, Marvell and FB stock, as well as reviewing the overall market rally.
ASML, PayPal and DocuSign stock are on IBD Leaderboard. Shopify, DocuSign, PayPal and Marvell stock are on SwingTrader. ASML stock and PYPL stock are on IBD Long-Term Leaders. ASML and SHOP stock are on the IBD 50.
Get 3 Weeks Of Leaderboard For Just $9.95
The price of Bitcoin traded above $31,000 early Wednesday. On Tuesday, Bitcoin fell below $30,000, at the low of a two-month range from just above $29,000 to roughly $41,000. The cryptocurrency has been trending lower, within that range, since late June. Bitcoin peaked at $64,829.14 in April.
Bitcoin and other cryptocurrencies have come under pressure amid crackdowns or threats of greater oversight from China, the U.S. …….