Title: Market Recap: Trump Media Soars, Tesla Gains, and AI Stocks Set Up
The stock market rally had a relatively quiet Tuesday, with the Nasdaq leading a fade into the close for slight losses. Despite this, Dow Jones futures rose slightly after hours, along with S&P 500 futures and Nasdaq futures. Here’s a recap of some key highlights from the day’s trading session:
Trump Media & Technology Group Makes a Splash: Donald Trump’s Trump Media & Technology Group (DJT) soared out of a base on Tuesday as the Truth Social parent began trading under the DJT ticker following the completion of its SPAC merger. However, the Trump stock closed well off intraday highs, below the buy point.
Tesla Hits Key Resistance: Tesla (TSLA) had a decent gain but came up against key resistance levels during the trading session.
AI Stocks in Focus: Google parent Alphabet (GOOGL) and ServiceNow (NOW) flirted intraday with buy signals, while CrowdStrike (CRWD), CyberArk Software (CYBR), and Cloudflare (NET) are setting up nicely. All of these names are AI stocks or AI-related.
Earnings Reports on the Horizon: Carnival (CCL) is set to report earnings early Wednesday as the stock works on a new base. Cruise leader Royal Caribbean (RCL) is holding in a buy zone.
Key ETF Movements: Among growth ETFs, the iShares Expanded Tech-Software Sector ETF (IGV) edged up 0.2%, while the VanEck Vectors Semiconductor ETF (SMH) fell 0.9%. ARK Innovation ETF (ARKK) and ARK Genomics ETF (ARKG) also saw declines.
What’s Next for Investors: The stock market rally is presenting opportunities for investors to add incrementally to their positions, with many leading stocks setting up for potential moves. It’s important to stay informed and watch for new setups as they emerge.
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Stay tuned for more updates as the stock market continues to evolve. Happy investing!
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