Dow Jones futures rose slightly Thursday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally closed Wednesday mixed after a weak jobs report and a continued retreat in crude oil prices weighed on real economy sectors, even as tech names edged higher. Roku (ROKU) and Etsy stock were big earnings losers overnight.
Advanced Micro Devices (AMD) and Robinhood (HOOD) surged again, as Reddit investors buzz about these names. Coming as “traditional” meme stocks such as GameStop (GME) and AMC Entertainment (AMC) continue to slide, the rise of AMD and HOOD stock suggest a key shift.
However, HOOD stock fell sharply Thursday morning as Robinhood filed to sell 97.9 million shares over time.
Roku stock, Etsy (ETSY), Revolve (RVLV), DXC Technology (DXC), Innovative Industrial Properties (IIPR) and Qorvo (QRVO), which makes chips for Apple (AAPL) and 5G devices, reported earnings after the close.
All six stocks beat earnings views. But Roku, Etsy and RVLV stocks were big losers, along with DXC. IIPR rose modestly and QRVO stock edged higher.
DXC stock is on IBD Leaderboard. Roku stock and IIPR are on the IBD 50.
Dow Jones Futures Today
Dow Jones futures rose 0.2% vs. fair value. S&P 500 futures advanced 0.2% and Nasdaq 100 futures climbed 0.2%.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
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Stock Market Rally
The stock market rally struggled amid falling crude oil prices, a weak ADP employment report and an earnings miss sell-off in General Motors (GM). Crude oil prices slid 3.4% to $68.15 a barrel, continuing a sharp drop this week. U.S. crude inventories rose last week, the Energy Information Administration said Wednesday morning. Copper prices also retreated. The 10-year Treasury yield rebounded to close up 1 basis …….