Dow Jones futures rose modestly Wednesday night, along with S&P 500 futures and Nasdaq futures. The House impeached President Donald Trump shortly after the market close. On Wednesday, the stock market rally enjoyed modest gains, as Apple stock and Intel (INTC) led big-cap techs. Taiwan Semiconductor (TSM), Delta Air Lines (DAL) report earnings early Thursday.
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Apple (AAPL) flashed early buy signals Wednesday, as tech giants showed some signs of life, though that’s not entirely good news for the stock market rally. Apple iPhone and 5G chipmaker Qualcomm (QCOM) also is offering an early entry slightly below the official buy point.
Meanwhile, new IPOs Airbnb (ABNB), DoorDash (DASH), Duck Creek Technologies (DCT) and ContextLogic (WISH) broke out or triggered buy signals.
The House voted to impeach President Trump, with 10 Republicans joining Democrats. The Trump impeachment vote was on the president’s alleged “incitement of insurrection,” referring to the pro-Trump mob storming the Capitol building on Jan. 6. The Trump impeachment, the second of his four-year term, is now official. But Senate Majority Leader Mitch McConnell said he won’t recall the Senate for a quick Trump impeachment trial. That means a Senate impeachment trial would have to wait until Joe Biden is president.
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Dow Jones Futures Today
Dow Jones futures rose 0.4% vs. fair value. S&P 500 futures climbed 0.35%. Positive Johnson & Johnson coronavirus vaccine news gave a slight lift to S&P 500 and Dow Jones futures.
Nasdaq 100 futures advanced 0.2%.
In other news, Virgin Galactic (SPCE) jumped overnight as Cathie Wood plans an Space ETF for ARK Funds.
Tesla (TSLA) fell slightly after safety regulators asked the electric vehicle maker to recall 158,000 Model S and Model X vehicles for media control unit failures that lead to touch screen displays not working, creating several safety hazards.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Intel CEO Bob Swan Out
Intel stock spiked 7% Wednesday on news that CEO Bob Swan will exit Feb. 15, replaced by Pat Gelsinger, CEO of virtualization software maker VMware (VMW) and once Intel’s technology chief. The Dow tech giant said fourth-quarter earnings and sales will exceed its guidance, adding that it’s made progress on its 7-nanometer chips.
Advanced Micro Devices (AMD) sank 3.75%, once again testing support at the 10-week line. VMware stock and parent Dell Technologies (DELL) fell 6.8% and 7.2%, respectively.
Apple, AMD and TSM stock are on IBD Leaderboard. Apple stock is on SwingTrader. AMD stock, Taiwan Semi, AMAT and LRCX are on the IBD 50.
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Coronavirus News
Coronavirus cases worldwide reached 92.76 million. Covid-19 deaths topped 1.98 million.
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Read More: Dow Jones Futures: House Impeaches President Trump; Apple, Airbnb,