Dow Jones futures rose modestly Wednesday night, along with S&P 500 futures and Nasdaq futures. The stock market rally attempt had a decent session on the major indexes, closing near highs as the 10-year Treasury yield retreated.
Once again, a large number of growth stocks showed strength within a lackluster market at best. That offset weakness in Apple stock as well as financials and airlines.
AMD stock, CrowdStrike (CRWD), Bill.com (BILL) and Sea Limited (SE) moved above buy points. All four rebounded from their 50-day or 10-week lines, while breaking downtrends. Meanwhile, Snowflake (SNOW) cleared a mini-consolidation that could be seen as a handle on a long, deep base.
Taiwan Semiconductor (TSM) earnings are on tap. While TSM stock has struggled since its February peak, the world’s largest chip foundry is still a bellwether for its industry. It makes chips for Advanced Micro Devices (AMD), Apple (AAPL), Nvidia (NVDA)…