Dow Jones futures fell after hours, as did S&P 500 futures and Nasdaq futures.
X
The rise in the stock market indicates a constructive move. While the major indexes have been hovering near all-time highs for the past few days, the Russell 2000 has rebounded toward two-year highs, reflecting improved breadth. apple (AAPL) has rebounded slightly following reports that the iPhone giant has finally given up on electric vehicles and that much of its team is moving toward generative AI.
Brazilian jet manufacturer Embraer (ERJ) issued a buy signal on Tuesday. shift 4 (four), Doing business as Shift4 Payments, It produced a bullish reversal in terms of profits. meanwhile, Nvidia (NVDA) Rival Advanced Micro Devices (AMD) continues to work on the base.
urban outfitters (Urban), first solar (FSLR), array technologies (arrival) and lemonade (LMND) reported after the close.
Urban Outfitters stock rose sharply, but was sold off overnight after the company's poor financial results. Underperforming solar power stocks First Solar and Array each rose solidly in their earnings results overnight, then were flat.Solar tracking company Array becomes rival for 2023 IPO next tracker (NXT) is shining. LMND stock, which soared ahead of the company's earnings release on Tuesday, plummeted overnight on the weak guidance.
dow giant salesforce.com (CRM) will lead several major software reports on Wednesday night.
Lemonade stock is included in the IBD 50. Embraer was the IBD Stock Of The Day on Tuesday. The video embedded in this article discusses Tuesday's market movements and analyzes Embraer, AMD, and Shift4 stocks.
Dow Jones futures today
Dow Jones futures fell slightly relative to fair value. S&P 500 futures and Nasdaq 100 futures were flat.
The yield on the 10-year US Treasury note fell slightly to 4.29%.
Please note that overnight trades such as Dow futures do not necessarily translate into actual trades in the next regular stock market.
IBD experts analyze leading stocks and markets on IBD Live.
stock market rise
Stock market gains on Tuesday were mixed, but generally positive.
The Dow Jones Industrial Average fell 0.25% in stock market trading on Tuesday. The S&P 500 index rose 0.2%. The Nasdaq Composite rose 0.4%.
The small-cap Russell 2000 rose 1.4%, nearing a two-year high reached late last year.
Just a few days ago, there were concerns that the market was expanding as the Nasdaq widened its breadth. So it would be ideal for the major indexes to pause for a few days while small-cap stocks and other broader indicators rise.
The Invesco S&P 500 Equal Weight ETF (RSP) rose 0.4%, just below its all-time high. The First Trust Nasdaq 100 Equal Weight Index ETF (QQEW) rose 0.5% to a record high.
These ETFs, along with sector ETFs, demonstrate broad market leadership.
Still, buying opportunities are limited. A longer market hiatus could be beneficial for stocks that are moving at base or handle.
US crude oil prices rose 1.7% to $78.87 per barrel.
The yield on the 10-year U.S. Treasury rose about 2 basis points to 4.31%, hovering at its highest level in 2024.
ETF
Among growth ETFs, the iShares Expanded Technology Software Sector ETF (IGV) rose less than 0.1%. The VanEck Vectors Semiconductor ETF (SMH), whose main holding is AMD stock, fell 0.3%.
Reflecting more speculative story stocks, the ARK Innovation ETF (ARKK) rose 2.9% and the ARK Genomics ETF (ARKG) rose 4.9%.
The SPDR S&P Metals Mining ETF (XME) rose 1.1%. The U.S. Global Jets ETF (JETS) rose 0.4%. SPDR S&P Home Builders ETF (XHB) rose 0.8%. Energy Select SPDRETF (XLE) fell 0.4% and Healthcare Select Sector SPDR Fund (XLV) fell 0.2%.
Industrial Select Sector SPDR Fund (XLI) rose 0.15%. The Financial Select SPDR ETF (XLF) rose 0.3%.
Timing the Market with IBD's ETF Market Strategy
Stocks near the purchase point
Embraer stock rose 3.5% to $18.95 on heavy volume, rebounding from its 50-day line and breaking short-term highs, signaling an early entry. The Brazilian jet maker's stock is working from a base-on-base formation to a buy point at 20.13.
Shift4 shares fell as low as $68 shortly after the session, before rising 5.55% to $76.83, the lowest trading day in months. Before the start of trading, the payments company reported that EPS increased by 90% and revenue growth accelerated to 31%, which was below expectations. However, Shift4 gave bullish guidance. Investors can use the old buy point of 76.40 or perhaps 79.20 as an entry into FOUR stock.
AMD stock rose 1.1% to 178 shares, finding support just above its 21-day moving average. The stock has been trading closely in recent weeks. After this week, AMD stock will have a flat base with a buy point of 184.92.
AMD is trying to take on Nvidia with AI chips. NVDA stock fell 0.5% on Tuesday to 787.01, but remains just below its all-time high. AMD stock rose 6.15% in February, while Nvidia's stock soared 27.9%.
Apple moves from EV to AI
The tech giant told employees internally on Tuesday that it was canceling Project Titan, a 10-year effort to develop electric vehicles, Bloomberg reported. Many of the approximately 2,000 Apple employees working on EV projects will be transitioned to work on generative AI. Unlike other big tech companies, Apple hasn't been active in its artificial intelligence efforts over the past year, but there have been rumors that this is about to change.
Apple shares rose 0.8% to 182.63, reversing slight intraday losses and slightly pushing the major indexes higher. Still, AAPL stock has lagged in recent months and remains below all major moving averages.
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what to do now
There aren't many stocks available to buy at the moment, but a few may be set up. More time is often needed for price and volume action. Less sizzle, more seasoning.
That could happen once the market rally ends. In the meantime, investors don't need to take any big action right away. But they want to track emerging locations, exits, and other purchasing opportunities. So, work on your watchlist and stay engaged.
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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