Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. Toll Brothers (TOL) and Urban Outfitters (URBN) reported Tuesday night, with Nvidia (NVDA) looming large.
The stock market rally attempt had a lackluster Tuesday, with the Dow turning negative and the Nasdaq slashing initial gains. The major indexes are still below key levels while breadth was poor again.
The market remains in a correction with huge news on tap. Investors should act accordingly.
Nvidia stock reversed lower from a breakout Tuesday after Monday’s powerful move.
It’s hard to exaggerate the importance of Nvidia earnings with the market in an uncertain state. Not only will the Nvidia stock reaction be a big factor for techs and the broader market, but Nvidia earnings and guidance will be hugely important for dozens of companies, from chipmakers Broadcom (AVGO) and Marvell Technology (MRVL) to software makers like ServiceNow (NOW) and Adobe (ADBE), as well as megacaps such as Microsoft (MSFT), Meta Platforms (META) and Google parent Alphabet (GOOGL).
Many of these stocks are near possible buy signals, but also could be possible short candidates.
NVDA stock and Meta are on IBD Leaderboard. Microsoft stock is on the IBD Long-Term Leaders list. Google stock, Meta and ServiceNow are on the IBD Big Cap 20.
The video embedded in this article reviewed AVGO stock, ServiceNow and Baker Hughes (BKR).
Dow Jones Futures Today
Dow Jones futures were just above fair value. S&P 500 futures and Nasdaq 100 futures were flat.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
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TOL stock edged higher in extended trade after Toll Brothers earnings and revenue topped views Q3 with the luxury homebuilder seeing higher deliveries and margins in Q3. Shares rose 1.2% to 75.92 on Tuesday, but still below the 50-day line after retreating for the prior four sessions. Toll Brothers…