Dow Jones futures grew modestly late Thursday, as well as Nasdaq and S&P 500 futures. Considering that the stock market rally is rising again, it’s better to hold off buying Tesla, Apple, Alibaba, Luckin Coffee, or Advanced Micro Devices at present. Their prices are much higher these days due to their recent big runs.
Intuitive Surgical and Synnex also show growth. Intuitive Surgical stock rebounded from its 10-week line, rallying in late trade. The robotic-surgical system maker announced strong Q4 revenue and procedures growth.
Dow Jones Futures increased 0.25% above fair value. Meanwhile, Nasdaq 100 futures rose 0.3% and S&P 500 futures advanced 0.2%. Of course, the rising prices don’t guarantee that there will be actual trading in the next stock market session.
The Dow Jones Industrial Average moved to a record high, reaching 0.7% growth. The S&P 500 index also climbed 0.7%, and the Nasdaq composite hit 0.8%. Apple stock boosted all main indexes, rising 2.1%.
Growth stocks also fared well. The Innovator IBD 50 ETF advanced 1.25% and The VanEck Vectors Semiconductor ETF rose 0.6%. The iShares Expanded Tech-Software Sector ETF climbed 0.95%, while AMD stock is among the leaders.
The Nasdaq composite has skyrocketed to its top trading range since early October. The Nasdaq 100 includes Apple stock, AMD stock, Tesla stock, and Intuitive Surgical stock. All of them hit the top of their trading channel.
Nevertheless, when the major indexes reached the top of their channels earlier in late November and then again at the start of 2020, they pulled back after a while for a short period. Probably, a pullback will occur again. That’s because high ascents aren’t sustainable for a lengthy period. However, this won’t necessarily mean the end of the stock market rally.
Stock Tickers:
(TSLA) (AAPL)
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