U.S. futures lowered on Thursday as investors awaited new jobless claims data. After the market’s collapse on Tuesday, stocks rebounded on Wednesday, with crude oil prices increasing again. However, the Dow Jones futures fell today along with S&P 500 futures and Nasdaq futures.
Dow Jones futures slid by 0.2% versus its fair value, while the S&P 500 futures dropped by 0.1%. Nasdaq 100 futures also retreated by 0.1%. On the other hand, U.S. crude oil futures gained significantly on Thursday, rising by 19% to $13.78 per barrel.
On Wednesday, the Dow Jones Industrial Average increased by 2%, with the S&P 500 index adding 2.3% and the Nasdaq composite rising by 2.8%.
Meanwhile, Apple stock jumped by 2.75%. Microsoft stock also soared by 3.4%, and Intel stock skyrocketed by 6.6%. All three tech giants are on the S&P 500, the Dow Jones, and Nasdaq Composite.
Other tech stocks profited as well. The iShares Expanded Tech-Software Sector ETF rose by 3.4%, while the VanEck Vectors Semiconductor ETF jumped 5.7%.
Tesla climbed up by 6.6% to 732.11 on Wednesday. If the stock stays in its current range through Thursday, Tesla will have a handle with a 775.05 buy point. The company’s earnings are due April 29. Tesla stock investors want to get some clarity on future production and demand due to coronavirus’ uncertainty.
The Tesla plant in California is shut down indefinitely because of the pandemic. Future demand in the U.S. and Europe may be hard to gauge currently. However, Tesla’s Shanghai plant is still operating, serving solid demand in China.
AMD stock rebounded 5.7% to 55.92 on Wednesday after it had sold off rapidly on Tuesday. The AMD is currently trading at 59.37 per share. Its earnings are due April 28. On the other hand, Nvidia’s stock, which is AMD’s rival, surged forward by 6.2% to 286.15 on Wednesday.
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