Dow Jones Futures: Market Suffers Ugly Reversal, Nvidia Falls As AMD Dives; Jobs Report Looms

Dow Jones futures, S&P 500 futures, and Nasdaq futures remained stable overnight, with the upcoming March jobs report expected to be a significant test for the stock market. The market rally began strong on Thursday with higher-than-expected jobless claims but later reversed due to tensions in the Middle East. Alphabet, the parent company of Google, is reportedly considering a bid for marketing software maker HubSpot. HubSpot stock broke out of a base, while Google stock is still in a buy zone. Salesforce.com reversed lower on the news of the potential Google-HubSpot deal. Several stocks showed buy signals in the morning but fell back along with the market. Tesla rebounded slightly after a rough week, while Nvidia fell below a key level but remained within a recent range. AMD suffered major losses. The Labor Department will release the March jobs report on Friday, with economists expecting nonfarm payrolls to rise by 200,000. The jobless rate is expected to stay at 3.9%. Average hourly earnings are predicted to rise by 0.3% with a yearly gain cooling to 4.1%. The overall economy has been strong in the U.S., China, and Europe, raising concerns about inflation and potential Fed rate cuts in June. Dow Jones futures were slightly lower, while S&P 500 futures and Nasdaq 100 futures were slightly higher. The stock market rally reversed gains on Thursday, with major indexes falling and key stocks like Google, Nvidia, and Salesforce experiencing losses. U.S. crude oil prices rose, while Treasury yields fell slightly. Growth ETFs like IGV and SMH declined, reflecting the market’s overall weakness. Google stock fell on market reversal, while Salesforce stock dropped following the Google-HubSpot news. Nvidia stock also fell below key moving averages, while AMD suffered a major sell-off. Tesla stock rose slightly despite weak delivery figures. As the market remains volatile, it’s important for investors to have watchlists and exit strategies ready. Stay updated with market trends and leading stocks through resources like The Big Picture and IBD Digital.



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