Dow Jones futures and S&P 500 futures rose Friday morning, while Nasdaq futures edged higher. The 10-year Treasury yield climbed after days of sharp declines, while China cut banks' reserve requirements. Meanwhile, Tesla
) raised U.S. prices again, while signaling that Tesla Model Y shipments to Europe are about to start.
The stock market rally retreated Thursday, but the Nasdaq and S&P 500 found support around short-term moving averages.
Many stocks reversed off key levels. Roku
), Advanced Micro Devices
), Denbury Resources
) and Figs
) tested their 21-day exponential moving averages
, while Tempur-Sealy
), Ford Motor
) and Tesla stock found support at their 50-day lines.
Roku stock, Crocs, InMode, Figs and Ford arguably offered buying opportunities from their reversals. AMD stock, Upwork, Denbury, Tempur-Sealy and Tesla found key support, but might have buying opportunities a little later.
Overnight, Tesla raised U.S. prices on the base Model S and X vehicles, while indicating that Model Y deliveries will begin in Europe by September.
Tesla, Ford, InMode, Tempur-Sealy and CROX stock are on IBD Leaderboard
, while UPWK stock is on the Leaderboard watchlist. INMD stock and Roku stock are on the IBD 50
) reported June revenue of 148.47 billion Taiwanese dollars ($5.3 billion), up 22.8% vs. a year earlier. First-half revenue was up 18.2%. TSM is the world's largest chip foundry, making semiconductors for Apple
), AMD and many others. Taiwan Semiconductor reports earnings next week.
TSM stock rose a fraction Friday morning. Shares dipped 0.3% to 117.89 on Thursday, rebounding from 50-day line support.