Dow Jones futures rose solidly early Thursday, along with S&P 500 futures and Nasdaq futures, signaling a small bounce after the stock market rally sold off following the Federal Reserve rate outlook. The major indexes suffered damaging losses on Wednesday.
Micron Technology’s earnings report was a negative catalyst, with its stock plummeting over 10% in after-hours action. However, Nvidia Corp.’s stock initially rose but ultimately fell to trigger multiple sell signals.
Tesla Inc. saw a significant decline of 8.3% but still remains above its 50-day line. The stock is expected to recover from the Wednesday sell-off, with futures suggesting a positive day two reaction to the Fed meeting.
Investors may want to reevaluate their exposure due to the recent losses and unexpected market movements. However, reducing exposure outright could be sound advice, especially if specific positions are not working.
Key Takeaways:
* Dow Jones futures rose after the initial sell-off
* S&P 500 futures recovered from the Fed rate outlook
* Micron Technology’s earnings report was a negative catalyst
* Nvidia Corp.’s stock initially rose but ultimately fell
* Tesla Inc. saw a significant decline but remains above its 50-day line
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-rise-fed-outlook-tesla-nvidia-bounce-micron-dives