Dow Jones futures were little changed Thursday evening, along with S&P 500 futures and Nasdaq futures, ahead of the Federal Reserve's favorite inflation report. U.S. stock and bond markets will be closed Friday.
The stock market rally enjoyed a solid, holiday-shortened week. Growth stocks, especially AI leaders such as Nvidia (NVDA), fell back somewhat, though they generally held above support. The market showed strength shrugging that off, with robust breadth. Small caps led with strong gains, with the Dow Jones and S&P 500 right at record highs. The Nasdaq edged lower as many tech giants retreated.
Nvidia needs more time, but Microsoft (MSFT), Meta Platforms (META) and CrowdStrike (CRWD) are tech leaders pulling back bullishly.
Meanwhile, new AI chip IPO Astera Labs (ALAB) is pulling back from Tuesday's record high. A continued pause in Nvidia stock and AI plays could let ALAB stock forge a short IPO base.
Meanwhile, China EV makers Nio (NIO), Li Auto (LI) and XPeng (XPEV) are due to report March and first-quarter deliveries early Monday, April 1. EV giant BYD (BYDDF) should report a big rebound in March, either on Monday or Tuesday. Tesla (TSLA) will likely release first-quarter deliveries on Tuesday. Expectations are low for Tesla while Nio and especially Li Auto cut delivery targets in recent days.
Nvidia and META stock are on IBD Leaderboard. Microsoft stock is on the IBD Long-Term Leaders list. Nvidia, Meta Platforms and CrowdStrike stock are on the IBD 50 ... More »