Dow Jones futures were little changed early Wednesday, along with S&P 500 futures and Nasdaq futures, following mixed Chinese economic data.
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Lennar (LEN) headlined earnings after the close, with LEN stock signaling a buy signal late.
The stock market jumped Tuesday morning as banks such as First Republic Bank (FRC), Western Alliance Bancorp (WAL), PacWest Bancorp (PACW), Charles Schwab (SCHW) and even KeyCorp (KEY) surged. But banks came well off opening highs.
The major indexes closed with robust gains, despite wilting for most of the afternoon.
The CPI inflation rate was in line with expectations, but the report took second billing to banks.
An market rally attempt is underway. But investors should be cautious amid such a volatile, news-driven environment.
A number of stocks showed bullish action Tuesday. Meta Platforms (META) flashed a buy signal as the Facebook and Instagram parent announced another wave of layoffs. Tesla (TSLA) rebounded from key support.
Boeing (BA), Lantheus (LNTH), Applied Materials (AMAT), MSCI (MSCI), Fortinet (FTNT) and MercadoLibre (MELI) are all trading near buy points after holding up well in the recent market action.
META stock is on SwingTrader. FTNT stock and MSCI are on IBD Long-Term Leaders. MELI stock, Monolithic Power, Fortinet and Lantheus are on the IBD 50. Fortinet and AMAT stock are on the IBD Big Cap 20.
The video embedded in the article discussed Tuesday’s market action and analyzed Meta Platforms, Fortinet and BA stock.
Dow Jones Futures Today
Dow Jones futures fell 0.1% vs. fair value. S&P 500 futures tilted lower and Nasdaq 100 futures were flat.
The 10-year Treasury yield climbed 4 basis points to 3.67%. The 2-year yield leapt 9 basis points to 4.31%.
Crude oil futures rose 1%.
China’s industrial production for January-February rose 2.4% vs. a year earlier, below views for 2.6%. Retail sales climbed 3.5%, matching forecasts. Fixed-asset investment 5.5%, topping consensus, but real estate investment sank 5.7%.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into…
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