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Stock market futures showed little change after hours, with Dow Jones futures, S&P 500 futures, and Nasdaq futures remaining relatively flat. As investors awaited the release of the August jobs report, several major companies, including Broadcom and MongoDB, reported their earnings. Meanwhile, Tesla is set to launch its long-awaited Model 3 upgrade in China.
Broadcom, MongoDB, Nutanix, Lululemon Athletica, Samsara, and Dell Technologies all reported after the market closed. MDB stock, Nutanix, and Dell were among the winners, while LULU stock rose and Samsara and AVGO stock fell.
Tesla is expected to release its upgraded Model 3, known as the “Highland” Model 3, in China. This comes as rival Chinese electric vehicle companies Li Auto, Nio, and XPeng are set to announce their August deliveries. Additionally, Amazon and Li Auto are among the top stocks to watch.
The upcoming jobs report is also a key focus for investors. Economists predict that nonfarm payrolls will rise by 170,000, with the jobless rate holding steady at 3.5%. The August ISM manufacturing index is also expected to be released later in the morning, providing further insights into the state of the economy.
In terms of earnings, AVGO stock fell slightly after Broadcom reported earnings and sales that slightly beat expectations. MDB stock rose after MongoDB reported strong earnings and provided solid guidance. NTNX stock surged after Nutanix beat expectations and announced a buyback. LULU stock also climbed after Lululemon’s earnings surpassed expectations.
The stock market overall had a mixed session, with the Dow Jones Industrial Average and the S&P 500 index both dipping slightly, while the Nasdaq composite eked out a modest gain. However, various sectors, including growth stocks, energy, and housing, continued to show strength.
As the stock market rally continues, investors will be closely watching the jobs report and other economic data for signs of further growth and to gauge the impact on Treasury yields.
Sources: [Source 1], [Source 2], [Source 3]
– Dow Jones futures: Futures contracts based on the Dow Jones Industrial Average index, which allows investors to speculate on the future price movement of the index.
– S&P 500 futures: Futures contracts based on the S&P 500 index, which allows investors to speculate on the future price movement of the index.
– Nasdaq futures: Futures contracts based on the Nasdaq Composite index, which allows investors to speculate on the future price movement of the index.
– Earnings report: A report published by a company that provides information on its financial performance during a specific period, including revenue, expenses, and net income.
– Model 3: A compact electric vehicle produced by Tesla.
– Chinese media reports: Reports from media outlets in China.
– EV: Abbreviation for electric vehicle.
– Buy point: A specific price level at which an investor decides to purchase a stock, based on technical analysis.
– SwingTrader: A trading platform or strategy that focuses on short-term price movements within a larger trend.
– IBD 50: The Investor’s Business Daily (IBD) 50, a list of top-performing growth stocks as published by Investor’s Business Daily.
– IBD Big Cap 20: A list of large-cap stocks as published by Investor’s Business Daily.
– Stock Of The Day: A stock highlighted by Investor’s Business Daily as having potential for significant price movement.
– Stock market rally: A period of sustained increases in stock prices.
– PCE inflation report: A report published by the Bureau of Economic Analysis that measures changes in prices of consumer goods and services.
– Fed-friendly economic figures: Economic data that suggests the Federal Reserve may be inclined to take actions that support economic growth.
– Nonfarm payrolls: The total number of workers in the economy excluding farm workers.
– Jobless rate: The percentage of the labor force that is unemployed and actively seeking employment.
– Average hourly earnings: The average wages earned per hour by workers in a given period.
– ISM manufacturing index: An index based on surveys of purchasing managers that provides insights into the performance of the manufacturing sector.
– Fair value: The theoretical price of a futures contract based on the current spot price of the underlying asset and any dividends or interest rates expected during the contract’s lifespan.
– ETFs: Exchange-traded funds, which are investment funds that trade on stock exchanges like individual stocks.
– Growth ETFs: ETFs that focus on investing in growth stocks, which are stocks of companies that are expected to grow at an above-average rate compared to the overall market.
– Story stocks: Stocks that are popular among investors due to a compelling narrative or growth potential.
– Treasury yields: The amount of return an investor earns on a U.S. government bond.
– Speculative: Involving a high degree of risk with the possibility of substantial gains or losses.
– Copper futures: Futures contracts based on the price of copper.
– Innovator IBD 50 ETF: An ETF that tracks the performance of the IBD 50 list, which consists of top-performing growth stocks.
– iShares Expanded Tech-Software Sector ETF: An ETF that tracks the performance of the software sector within the technology industry.
– VanEck Vectors Semiconductor ETF: An ETF that tracks the performance of semiconductor companies.
– SPDR S&P Metals & Mining ETF: An ETF that tracks the performance of companies in the metals and mining industry.
– U.S. Global Jets ETF: An ETF that tracks the performance of companies in the airline industry.
– SPDR S&P Homebuilders ETF: An ETF that tracks the performance of companies in the homebuilding industry.
– Energy Select SPDR ETF: An ETF that tracks the performance of companies in the energy sector.
– Health Care Select Sector SPDR Fund: An ETF that tracks the performance of companies in the health care sector.
– Industrial Select Sector SPDR Fund: An ETF that tracks the performance of companies in the industrial sector.
– Financial Select SPDR ETF: An ETF that tracks the performance of companies in the financial sector.
– SPDR S&P Regional Banking ETF: An ETF that tracks the performance of regional banks.
– Chinese stocks: Stocks of companies based in China or with significant operations in China.