Futures: Nvidia Masks Weakness; Three Stocks In Buy Areas

Futures: Nvidia Masks Weakness; Three Stocks In Buy Areas

Dow Jones futures fell slightly overnight, as did S&P 500 and Nasdaq futures. Cava Group (HOW ARE YOU) results published after the closing, with Abercrombie & Fitch (ANF) And Viking funds (VIK) expected early Wednesday.


The stock market rally experienced another mixed session on Tuesday, with Nvidia (NVDA) continuing to advance, lifting the Nasdaq. But the Dow fell to a key support level amid weakness.

AI chip maker Arm holds (ARM), wing restaurant Wing stop (WING) and Brazilian fintech Currently in portfolio (NOT) issued buy signals on Tuesday.

American airlines (AAL) lowered its outlook Tuesday evening. American Air plummets while other carriers fell.

Nvidia and Cava shares are in progress MII classification. WING stock is in progress Swing Trader. Nvidia, Wingstop and ARM shares are on sale MII 50. Nvidia stock is on the rise IBD large cap 20.

The video embedded in the article discusses Tuesday’s market developments and analyzes Arm Holdings, Wingstop shares and Securities in Celsius securities (CELH).

Dow Jones Futures Today

Dow Jones futures fell 0.2% from fair value. S&P 500 futures lost 0.1% and Nasdaq 100 futures fell slightly.

Remember that overnight action Dow Jones Futures and elsewhere does not necessarily translate into real exchanges during the next regular class sotck exchange session.

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Cava gains were better than expected, with same-store sales growth slowing significantly but beating views at 2.3%. However, visitor traffic decreased slightly. Cava stock fell slightly in share price overnight after an initial selloff. Shares fell 0.6% to 82.40 on Tuesday, reversing lower from a new intraday all-time high.

Abercrombie & Fitch Profits are due before opening. ANF ​​stock rose 1.5% to 152.39 on Wednesday, slightly extended from a consolidation buy point of 140.28.

Viking Holdings is reporting its results for the first time since the cruise operator went public a month ago. VIK stock jumped 3.1% to 30.60 on Tuesday, hitting a record high amid a flurry of mostly positive analyst initiations on the recent IPO.

Stock market rally

The stock market rally had another mixed session on Tuesday, with the Nasdaq surpassing the 17,000 level for the first time while the Dow fell to the 50-day line.

The Dow Jones Industrial Average fell 0.5% on Tuesday stock market trading, with certain financial and health components weighing on the blue chips. The S&P 500 index rose slightly. The Nasdaq Composite Index rose 0.6%.

The losers far outnumbered the decliners.

The small-cap Russell 2000 index fell 0.1%.

The Invesco S&P 500 Equal Weight ETF (RRSP) fell 0.7%, slightly below the 50-day mark. The First Trust Nasdaq 100 Equal-Weighted Index ETF (QQEW) fell 0.8%, far behind the Nasdaq 100’s 0.4% gain.

On the positive side, energy and commodity stocks rebounded from significant losses last week, supported by rising underlying prices.

US crude oil prices rose 2.7% to $79.83 per barrel. Copper futures rebounded 2%.

The 10-year Treasury yield jumped 7 basis points to 4.54%.


Among growth ETFs, the Innovator IBD 50 ETF (FFTY) closed slightly lower after briefly hitting a new 52-week high. The iShares Expanded Tech-Software Sector ETF (VAT) fell by 0.7%. The VanEck Vectors Semiconductor ETF (SMH) jumped 2.3%, with Nvidia stock the dominant position.

Reflecting stocks with more speculative histories, the ARK Innovation ETF (ARKK) slipped 0.8% and ARK Genomics (ARKG) increased by 0.2%.

The SPDR S&P Metals and Mining ETF (XME) climbed 1.5% while the Energy Select SPDR ETF (XLE) climbed 1%.

But the SPDR S&P Homebuilders ETF (XHB) lost 1.4%. The SPDR Fund for the Selected Health Care Sector (XLIV) and the SPDR Fund for Selected Industrial Sectors (XLII) both fell 1.2%. The Financial Select SPDR ETF (45) fell by 1.1%.

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Nvidia shares jumped 7.1% to 1,140.59, hitting a new record high. Shares soared 15.1% last week on soaring earnings and guidance. NVDA stock is now significantly expanded. Nvidia’s market capitalization is closing in on $3 trillion, reaching $2.847 billion on Tuesday.

Actions in buying zones

The gun stock climbed 9% to 124.94, moving clearly above the 50-day line, which had served as resistance for the past two weeks. The wireless chip designer, seen as an AI play, also broke a trend line. Both of these offered buying signals. The arm stock begins to build the right side of what would be a deep base.

Wingstop stock rose 1.5% to 389.60, bouncing off the 21-day moving average and breaking a short trendline, while not that far from the 50-day line. Shares are still in range from an earlier consolidation with a 379 entry.

Nu Holdings stock jumped 3.8% to 12.18, bouncing around the 50-day line and breaking a short trendline. This offers a new entry into Brazilian fintech, which has a consolidation of 12.38. point of purchase.

What to do now

There are stocks to buy and some winners continue to advance, but market leadership has narrowed somewhat. So don’t assume that your stocks will definitely move higher just because the Nvidia-powered Nasdaq is hitting new highs.

Still, a few more stocks have issued buy signals and many more have fallen into place. Investors could choose to take advantage, especially if their exposure remains modest. But keep doing it gradually and be prepared to step back if the market falters.

Read The big picture every day to stay in tune with the direction of the market and the main values ​​and sectors.

Please follow Ed Carson on the discussions at @edcarson1971 and X/Twitter on @IBD_ECarson for stock market updates and more.


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