Nasdaq 100 futures increased 0.3 %, while Dow Jones Futures rose 0.25% above their fair value. S&P 500 futures added 0.2%. Even so, the increasing prices don’t necessarily mean that there will be any actual trading in the next stock market session.
The robotic-surgical system maker declared strong Q4 revenue and procedures growth. Meanwhile, Intuitive Surgical and Synnex are also growing. Intuitive Surgical stock rises in late trade, rebounding from its 10-week line.
The Current Stock Market Rally Continues
The Nasdaq composite increased a whole 0.8%. The Dow Jones Industrial Average moved to a record high, reaching 0.7% growth, and the S&P 500 index advanced 0.7%. Apple stock also boosted all main indexes, hitting 2.1%.
As it seems, growth stocks are faring well too. AMD stock is hitting the top. The VanEck Vectors Semiconductor ETF climbed 0.6%. The Innovator IBD 50 ETF rose 1.25%, while The iShares Expanded Tech-Software Sector ETF increased by 0.95%.
The Nasdaq composite hit its top trading range since early October. The Nasdaq 100 includes Apple stock, AMD stock, Tesla stock, and Intuitive Surgical stock. All of them skyrocketed to the top of their trading channel. But such high ascents aren’t sustainable for an extended period, so, probably, pullback occurs soon.
When the major indexes hit the top of their channels earlier in late November, and again at the start of 2020, they pulled back for a short period after a while. Such pullback to the bottom of its channel would be totally normal. It could even continue for a 50-day line, but if events progress such way, it doesn’t ultimately mean that the stock market rally will end.