The US stock market opened higher on Wednesday morning, with Dow Jones futures rising 0.4%, S&P 500 futures climbing 0.3%, and Nasdaq 100 futures advancing 0.7%. Salesforce.com (CRM) led the strong earnings overnight, while Nvidia (NVDA) signaled a move back above its buy point.
The Nasdaq composite rose 0.4% on Tuesday, but the Dow Jones Industrial Average fell 0.2% and the Russell 2000 lost 0.7%. Meta Platforms (META) broke out in strong volume, and Palantir Technologies (PLTR) jumped after positive news. Tesla (TSLA) fell slightly after a Delaware judge refused to reinstate Elon Musk’s massive pay package.
In economic data, private jobs grew by 146,000 in November, according to the ADP Employment Report, slightly below estimates. The 10-year Treasury yield climbed to 4.26%.
Tech stocks are leading the rally, with Credo Technology Group (CRDO) skyrocketing on earnings and guidance, while Astera Labs (ALAB) jumped nearly 13%. Palantir stock leaped 6.9% after the federal government gave its product suite authorization for secure cloud-computing services.
Investors should be cautious of record-high valuations and focus on nibbling at new breakouts while holding heavy exposure to leading stocks. Keep running screens, looking for emerging setups and sector rotations, and have exit strategies ready.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-salesforce-earnings-meta-palantir-credo-shine