Dow Jones futures rose slightly overnight, along with S&P 500 and Nasdaq futures. The stock market rally had a strong Tuesday as job openings fell much more than expected, with all the major indexes moving back above their 50-day moving averages. The Nasdaq led as growth stocks revved higher on lower Treasury yields and Fed rate-hike odds.
X
Tesla (TSLA), Nvidia (NVDA) and Google parent Alphabet (GOOGL) were big winners among the megacaps, all flashing buying opportunities.
China’s PDD Holdings (PDD) and Li Auto (LI) surged, flashing buy signals. MercadoLibre (MELI), ServiceNow (NOW), Axcelis Technologies (ACLS) and, arguably, ORCL stock also look actionable.
Meanwhile bitcoin and bitcoin-related stocks surged after a federal appeals court ruled that the SEC was wrong to prevent Grayscale from turning its Grayscale Bitcoin Trust (GBTC) into an actual Bitcoin ETF. Bitcoin jumped back above $27,000 and GBTC surged 17%.
Coinbase (COIN) soared 14.9% and Marathon Digital…
2023-08-29 21:41:49
Post from www.investors.com
rnrn