In the early hours of Wednesday, Dow Jones futures, along with S&P 500 futures and Nasdaq futures, saw a slight rise. Investors are keeping an eye on the looming CPI inflation report, while chipmaker Taiwan Semiconductor (TSM) reported strong Q1 sales driven by AI demand. Delta Air Lines (DAL) also exceeded earnings expectations, with its shares showing signs of a breakout. The stock market rally experienced a slight uptick on Tuesday, with caution prevailing ahead of the CPI inflation report. Despite positive breadth, several leaders faced pressure. Nvidia (NVDA) saw a dip in its stock price but found support. Google’s parent company Alphabet (GOOGL) announced a new in-house AI processor, reducing its reliance on Nvidia chips. Intel (INTC) also introduced an AI chip to compete with Nvidia. Google stock entered a buy zone, while ARM stock initially rose but later fell. Tesla (TSLA) continued its gains following Elon Musk’s announcement about robotaxis. Tesla stock is approaching a key resistance level, despite two analysts lowering their estimates. Nvidia and ARM stock are on IBD Leaderboard, while Arm Holdings and Nvidia stock are on the IBD 50. Nvidia stock is also part of the IBD Big Cap 20. The CPI inflation report is set to be released at 8:30 a.m. ET, with expectations of a 0.3% rise in consumer prices. Fed minutes from the March meeting will also be released later in the day. Dow Jones futures rose 0.25% vs. fair value, with S&P 500 futures and Nasdaq 100 futures up 0.2%. The 10-year Treasury yield decreased to 4.35%. Crude oil futures saw a slight increase. The CPI inflation report is likely to influence Dow Jones futures and Treasury yields. It’s important to note that overnight movements in Dow futures may not necessarily reflect actual trading in the upcoming stock market session. Stay tuned for more updates on leading stocks and market analysis.
