Dow Jones Futures Signal Further Market Rally Losses; Elon Musk Teases Humanoid Tesla Bot
Posted Date: August 20 2021 | Reading Time: 2 minutes
Dow Jones futures fell modestly Friday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally closed narrowly mixed Thursday after some notable swings. Big-cap techs and medical stocks rebounded while real economy sectors continued to sell off amid Federal Reserve taper fears. AMAT stock and Deere headlined key earnings reports overnight.
The Tesla AI Day event Thursday night focused on high-level discussions of the company's self-driving technology and touting a humanoid Tesla Bot.
There was some positive action in Thursday's market rally, beyond the major indexes rallying off lows. Nvidia (NVDA) cleared an early entry of 197.80 as it rebounded from its 50-day line on strong earnings. Still, while Nvidia rose 4% to 197.98, that was well off intraday highs of 204.95. Advanced Micro Devices (AMD) edged higher, while Marvell Technology (MRVL) rose 2%, rallying off its 50-day line.
Microsoft (MSFT) and Adobe (ADBE) powered up about 2% to new highs and Netflix (NFLX) rallied 4.2%. After the close, Adobe said it would buy Frame.io, a leading cloud-based video collaboration platform, for $1.275 billion. ADBE stock was not active in overnight trade.
Cisco Systems (CSCO) rebounded from morning lows to rally to a two-year high following earnings. CSCO stock climbed 3.8% to 57.27, back above a 55.45 buy point.
The Tesla AI Day event Thursday night focused on high-level discussions of the company's self-driving technology and touting a humanoid Tesla Bot.
There was some positive action in Thursday's market rally, beyond the major indexes rallying off lows. Nvidia (NVDA) cleared an early entry of 197.80 as it rebounded from its 50-day line on strong earnings. Still, while Nvidia rose 4% to 197.98, that was well off intraday highs of 204.95. Advanced Micro Devices (AMD) edged higher, while Marvell Technology (MRVL) rose 2%, rallying off its 50-day line.
Microsoft (MSFT) and Adobe (ADBE) powered up about 2% to new highs and Netflix (NFLX) rallied 4.2%. After the close, Adobe said it would buy Frame.io, a leading cloud-based video collaboration platform, for $1.275 billion. ADBE stock was not active in overnight trade.
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