Dow Jones Futures: Market Rally Stalls, Donald Trump Stock DWAC

Dow Jones futures and S&P 500 futures were little changed late Tuesday, while Nasdaq futures fell slightly amid earnings from MSFT stock, Google parent Alphabet (GOOGL) and Advanced Micro Devices (AMD).  The stock market rally came off Tuesday’s highs as Tesla (TSLA) and many leading stocks reversed. Facebook (FB) and Upstart Holdings (UPST) broke key support.

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Trump SPAC partner Digital World Acquisition Corp. (DWAC) fell sharply for a second straight session. That follows two massive days of gains for DWAC stock on news that it have a SPAC merger with newly created social media firm Trump Media & Technology Group.

There were several breakouts Tuesday, including Cadence Design (CDNS), TechTarget (TTGT), S&P Global (SPGI) and Monarch Casino & Resort (MCRI), GXO Logistics (GXO).

Key Earnings

Microsoft (MSFT), Google and AMD stock reported earnings, along with Enphase Energy (ENPH), Visa (V), Twitter (TWTR), Robinhood (HOOD), Texas Instruments (TXN) and Boyd Gaming (BYD),.

Microsoft earnings and revenue topped views. MSFT stock was little changed overnight, in a buy zone.

Google stock fell despite beating headline estimates, as some key metrics disappointed.

AMD stock was about flat despite a beat-and-raise report.

Nvidia (NVDA)

See below for more on the Microsoft, Google and AMD earnings and other key reports.

General Motors (GM) on tap Wednesday morning, with rival Ford due Wednesday night. But are trading slightly below buy points.

Tesla stock, Microsoft, Google and AMD are on IBD Leaderboard. Microsoft and Google stock are IBD Long-Term Leaders. Tesla, AMD and Nvidia stock are on the IBD 50.

The video embedded in this article reviewed the day’s market action and analyzed Intuitive Surgical (ISRG), S&P Global and UPST stock.

Dow Jones Futures Today

Dow Jones futures were steady vs. fair value. S&P 500 futures were about unchanged. Nasdaq 100 futures fell 0.15, with Google stock acting as a drag

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Stock Market Rally

The stock market rally opened strongly, but soon pared gains, with the major indexes wiping out gains or turning slightly negative before ending slightly positive.

The Dow Jones Industrial Average closed just above break-even in Tuesday’s stock market trading. The S&P 500 index rose 0.2%. The Nasdaq composite edged up less than 0.1%. The small-cap Russell 2000 fell 0.7%.

The 10-year Treasury yield dipped 2 basis points to 1.52%, the third straight decline.

U.S. crude oil futures rose 1.1% to $84.65, the best close in seven years.

Facebook stock slumped 3.9%, breaking below its 200-day line. Facebook earnings topped views, but revenue missed, though the company did announce a $50 billion buyback. FB stock had already sold off in recent weeks, including last Friday following weak Snap…