Dow Jones futures, S&P 500 futures, and Nasdaq futures are set to open Sunday evening, continuing the stock market rally. The Nasdaq composite reached a record high, joining the S&P 500. Stocks to watch include Taiwan Semiconductor Manufacturing, Monolithic Power Systems, Microsoft, Palantir Technologies, Deckers Brands, Eli Lilly, Coherent, and Uber Technologies. These market rally leaders have been consolidating for a few weeks, presenting new buying opportunities. Many of these are AI plays, with Nvidia and chipmaker Taiwan Semi leading the charge in advanced semiconductors. However, both the Nasdaq and S&P 500 are once again extended, so investors may want to exercise caution.
Uber stock is on IBD Leaderboard, Microsoft, Palantir, Eli Lilly, and Taiwan Semiconductor stock are on SwingTrader. Microsoft stock is on IBD Long-Term Leaders, while Monolithic Power is on the Long-Term Leaders watchlist. Palantir stock is on the IBD 50, and Deckers stock, Palantir, and Uber Technologies are on the IBD Big Cap 20. The video embedded in this article analyzes the week’s market action and delves into Taiwan Semiconductor stock, Tidewater, and Confluent.
Dow Jones futures are set to open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures. The stock market rally has been driven by tech and small-cap stocks, with the Nasdaq composite hitting a record high for the first time since November 2021. The S&P 500 also reached a record high, while the small-cap Russell 2000 jumped to a 22-month high.
Among growth ETFs, the iShares Expanded Tech-Software Sector ETF rebounded, with Microsoft and Palantir as key holdings. The VanEck Vectors Semiconductor ETF soared to a record high, with Taiwan Semiconductor stock and Monolithic Power as components. The ARK Innovation ETF and ARK Genomics ETF also saw gains.
Stocks to watch include Taiwan Semiconductor, Monolithic Power, Microsoft, Palantir, Deckers, Eli Lilly, Coherent, and Uber Technologies. These companies have shown strong performance and potential for growth. Investors should remain vigilant and ready to act quickly in this dynamic market environment.