Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. Coupang (CPNG), Arista Networks (ANET) and recent IPOs reddit (RDDT) and Astera Research Institute (ALAB) had one notable earnings report.
X
Stock market gains were narrowly mixed on Tuesday. Palantir (PLTR) and data dog (DDOG) weighed software trends, while a number of leaders across various sectors issued buy signals.
Nvidia (NVDA) fell on Tuesday, but ended at its worst level. tesla (TSLA) withdrew amid negative headlines. However, Tesla stock is still above its 50-day line.
After the close of trading, in addition to the EV maker, networking company Arista Networks, AI chip IPO company Astera Labs, social site Reddit, and South Korean e-commerce giant Coupang reported their financial results. Rivian (RIVN) and software manufacturers toast (Tost). Reddit stock soared, and Toast and Arista soared overnight. Coupang, Astera Labs and Rivian fell.
Nvidia ranks on the IBD Leaderboard with Toast stock added as an income option. Astera stock is on the leaderboard watchlist. Nvidia stock is listed on SwingTrader. Nvidia and Toast are included in IBD 50.
Dow Jones futures today
Dow Jones futures rose slightly relative to fair value. S&P 500 futures were even, and Nasdaq 100 futures rose 0.1%.
Please note that overnight trades such as Dow futures do not necessarily translate into actual trades in the next regular stock market.
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stock market rise
Stock market gains were relatively quiet on Tuesday, with major indexes holding onto recent gains.
The Dow Jones Industrial Average rose 0.1% in stock market trading on Tuesday. The S&P 500 index rose 0.1%. The Nasdaq Composite fell 0.1%.
Market breadth remained positive.
The small-cap Russell 2000 rose 0.2%.
Invesco S&P 500 Equal Weight ETF (RSP) rose 0.3%, outperforming the 50-day index. The First Trust Nasdaq 100 Equal Weight Index ETF (QQEW) rose slightly, but remains below 50 days.
US crude oil prices fell 0.1% to $78.38 per barrel.
The yield on the 10-year Treasury note fell 3 basis points to 4.46, down from its intraday low. However, the 10-year Treasury yield fell 22 basis points in five sessions.
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ETF
Among growth ETFs, the iShares Expanded Technology Software Sector ETF (IGV) fell 0.5%. The VanEck Vectors Semiconductor ETF (SMH) fell 0.9%, with Nvidia stock its No. 1 holding.
Reflecting more speculative story stocks, the ARK Innovation ETF (ARKK) fell 2% and the ARK Genomics ETF (ARKG) fell 1.2%. Tesla stock is a major holding across Ark Invest's ETFs.
The SPDR S&P Metals and Mining ETF (XME) rose 0.5%, and the SPDR S&P Home Builders ETF (XHB) fell 1%. The Energy Select SPDR ETF (XLE) fell 0.1% and the Healthcare Select Sector SPDR Fund (XLV) rose 0.8%. The Industrial Select Sector SPDR Fund (XLI) and Financial Select SPDR ETF (XLF) rose 0.3%.
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Main income
Arista Networks' revenue outpaced profits as the networking company rose slightly amid strong AI demand. Arista also announced a $1.2 billion share buyback. ANET stock soared in overnight trading, signaling a gap above the 50-day line and the trend line's early entry. On Tuesday, the stock fell 1.7% to 273.99, hitting below 50-day resistance. The consolidated buy point for Arista stock is 307.74.
Astera Labs' profits comfortably exceeded the number of views for the AI chip maker's quarterly report for the first time since it was published in March. Astera also led her to the top. However, ALAB stock fell sharply in volatile trading. The stock fell 2.5% on Tuesday to 76.19. Astera is based on his IPO and he has a buy point of 88.59 handle.
Reddit reported strong revenue growth and guidance in its first earnings report. RDDT stock soared more than 10% in late trading. The stock rose 2.3% to 49.40 on Tuesday. Reddit stock is building on the right side of the IPO base with an official buy point of 74.90.
Although the company's revenue was higher, Coupang's revenue was slightly behind. CPNG stock fell significantly overnight. Shares rose 1.3% to 23.65 on Tuesday, hitting a two-year high.
Toast reported higher-than-expected GAAP losses, but higher revenue. The restaurant-focused software platform rose solidly in extended trading, hinting at an early entry to the trend line on Wednesday. TOST stock price rose 0.7% to 23.73 on Tuesday, again above its 50-day line. The cup-with-handle buy point for this stock is 25.63.
Rivian reported a bigger-than-expected loss, despite higher sales. The EV startup maintained its full-year production target. RIVN stock fell steadily in overnight trading. The stock fell 0.7% to 10.26 after soaring to 11.22 on Tuesday morning on rumors of partnership talks with Rivian. apple (AAPL).
early Wednesday morning, Shopify (shop), Uber Technologies (Uber), ACM Research (ACMR), toyota motor vehicle (TM), Vistra (VST) Report. Shopify is slightly above its 50-day line, while Uber, ACM Research, and Toyota are below their key levels. Vistra, a utility-to-AI investment stock that will join the S&P 500 before Wednesday's open, will have an extended participation period.
nvidia stock
Nvidia stock fell 1.7% to 905.54 after rising nearly 11% in the past three sessions. Shares fell more than 3% on Tuesday morning after Stanley Druckenmiller cut his stake in the tech giant in late March and said AI could be overhyped in the short term. .
According to MarketSurge, the consolidated buy point for NVDA stock is 974 points. Pausing here allows a handle to form and can be constructive.
tesla stock
Tesla stock fell 3.8% to 177.81, but remains above its 50-day line.
In a letter late Monday, the National Highway Traffic Safety Administration asked Tesla for more information about its driver assistance systems. NHTSA launched its latest investigation last month, suggesting the electric car giants are partly to blame for the continued Autopilot crashes. Meanwhile, sales in China remain weak, showing little improvement compared to the seasonally weak first quarter.
what to do now
The stock market's rise appears to be steady, and while it remains in positive territory, the major indexes are taking a lull. Investors can gradually add to their positions and have moderate exposure as the market continues to function.
Earnings season remains heavy and there continue to be gold mines and mines. Please remember.
Create a watchlist containing major stocks from different sectors.
Read The Big Picture every day to stay on top of market direction and key stocks and sectors.
Follow Ed Carson's thread @edcarson1971 and X/Twitter. @IBD_ECarson The latest information on the stock market, etc.
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