Dow Jones Futures Signal Strong Market Bounce As Facebook Surges On Earnings; ARK Stock Teladoc Crashes – Investor’s Business Daily
Dow Jones futures jumped Thursday morning along with S&P 500 futures and especially Nasdaq futures as Facebook parent Meta Platforms (FB) soared, leading several big earnings winners.
The stock market tried to bounce Wednesday with Dow Jones giants Microsoft (MSFT) and Visa (V) jumping on earnings while blue-chip Boeing (BA) tumbled. But the Nasdaq wiped out a big intraday gain to close flat while the Dow and S&P 500 eked out slim advances.
Tesla stock edged higher, but only recouping a sliver of Tuesday’s tumble. Meanwhile, TWTR stock fell for a second straight day amid fears that Tesla CEO Elon Musk could walk away from the Twitter deal.
Facebook reported earnings after the close, along with fellow tech firms PayPal (PYPL), ServiceNow (NOW) and Qualcomm (QCOM), as well as Ford Motor (F). But all of these former leaders are in significant downturns.
Meanwhile, pandemic stock winner Teladoc Health (TDOC) also reported. TDOC stock had already round-tripped its huge 2020 gains.
Early Thursday, Eli Lilly (LLY) and Merck (MRK) reported, both near buy points. Caterpillar (CAT) also has released views. McDonald’s (MCD) is also due before the open, along with Twitter.
Meanwhile, Apple (AAPL) looms Thursday night. Apple stock edged higher Wednesday but hit resistance at its 200-day moving average.
Tesla (TSLA) and Microsoft stock are on IBD Leaderboard. Microsoft and NOW stock are on IBD Long-Term Leaders.
Dow Jones Futures Today
Dow Jones futures rose 0.75% vs. fair value. S&P 500 futures leapt 1.35%. Nasdaq 100 futures jumped 1.9%, led by FB stock and other tech earnings winners.
The Commerce Department will give its first estimate of first-quarter economic growth at 8:30 a.m. ET. Economists see economic growth slowing to a 1.1% annual rate vs. Q4’s 6.9% pace. That’s partly due to weaker inventories, with consumer spending seen rising 3.4%.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.</…….