Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. The stock market rally rose modestly heading into the Thanksgiving holiday.
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Nvidia (NVDA) fell Wednesday following stellar earnings, but came off lows and held in a buy zone. Key rival Advanced Micro Devices (AMD) broke out of a buy point.
Google parent Alphabet (GOOGL) and Amazon.com (AMZN) also flashed buy signals.
Meanwhile, Tesla (TSLA) fell Wednesday, backing off possible buy points. The EV giant is ramping up discounts in the U.S. and Europe following Elon Musk’s controversial post last week.
Nvidia and AMZN stock are in the IBD Leaderboard line up. Nvidia stock is on the IBD 50. AMD was Wednesday’s IBD Stock Of The Day.
Dow Jones Futures Today
Dow Jones futures tilted lower vs. fair value, along with S&P 500 futures. Nasdaq 100 futures edged higher.
Crude futures fell 1%.
The U.S. stock market will be closed on Thanksgiving, but Dow futures will trade normally, while other exchanges around the world will be open.
On Black Friday, the U.S. stock exchanges will close early at 1 p.m. ET, with bond trading ending at 2 p.m. ET. Expect limited trading volume.
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 rebounded modestly Wednesday, even with Nvidia stock falling modestly on earnings.
The Dow Jones Industrial Average rose 0.4% in Wednesday’s stock market trading. The S&P 500 index was up 0.4%, with AMD one of the top performers and TSLA stock one of the weakest. The Nasdaq composite climbed 0.5%, though well off morning highs. All are above their late August/early September highs with the 2023 highs in sight.
The small-cap Russell 2000 gained 0.7%, but is still below the 200-day line after hitting resistance at that key level last week.
The Invesco S&P 500 Equal Weight ETF (RSP) advanced 0.5%, moving a little further above the…
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