Dow Jones futures were little changed Thursday night, along with S&P 500 futures and Nasdaq futures, with Nike (NKE) and Costco earnings in focus. The stock market rally had another strong session, with the S&P 500 joining the Nasdaq in reclaiming key support while leading stocks showed strong action.
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Another big batch of top stocks offered buying opportunities Thursday.
Atkore (ATKR), Salesforce.com (CRM), Dell (DELL), Darden Restaurants (DRI), Accenture (ACN), Devon Energy (DVN), Square (SQ), Denbury (DEN), O’Reilly Auto (ORLY), Moderna (MRNA), MGM Resorts (MGM), Bank of America (BAC), Advanced Micro Devices (AMD), Idexx Labs (IDXX), SVB Financial (SIVB), Microsoft (MSFT) and Google parent Alphabet (GOOGL) were all actionable, following several others on Wednesday.
CRM stock, Dell, Darden Restaurants, Devon Energy, Denbury, O’Reilly, MGM and SVB Financial were breakouts or reclaiming traditional buy points. AMD stock, Bank of America, Square, Atkore, Moderna and Idexx Labs were early entries, from rebounds above the 50-day/10-week or trend line breaks — or both. Accenture, Microsoft and Google stock are rebounding from first tests of their 10-week lines.
Costco, Nike Earnings
Costco Wholesale (COST) and Nike earnings headlined key overnight news. Costco and Nike earnings both beat views, with the former topping sales forecasts and the latter just missing.
Costco stock edged higher in overnight trade. COST stock potentially be have a buying opportunity as it bounces of its 10-week line for the first time since a June breakout.
Nike stock fell modestly in extended action, adding to losses as executives signaled supply-chain woes and margin pressures in the current quarter.
Microsoft stock and Google are on IBD Leaderboard. Microsoft and Google stock also are on IBD Long-Term Leaders, along with IDXX stock. Square stock and Dell are on SwingTrader. Google, Atkore and MRNA stock are on the IBD 50. Dell stock was Thursday’s IBD Stock Of The Day.
The video embedded in this article analysts the stock market rally as well as reviewing CRM stock, Atkore and Denbury.
Dow Jones Futures Today
Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures and Nasdaq 100 futures were little changed.
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 started with modest gains Thursday and quickly gained steam, delivering strong gains for a second straight session.
The Dow Jones Industrial Average rose 1.5% in Thursday’s stock market trading. The S&P 500 index gained 1.2%. CRM stock was easily the top Dow performer and a leading S&P 500 component, second only to Devon Energy.
The Nasdaq composite climbed 1%. The small-cap Russell 2000 popped 1.8%.
This is an important day to read The Big Picture.
Read More: Dow Jones Futures: Salesforce Leads 17 Stocks Flashing Buys As Market