Dow Jones Futures: Strong Market Rally, But Don't Rush To Buy; Applied Materials Earnings Top As Chip Stocks Flash Bullish Signals

Posted Date: May 21 2021
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Dow Jones futures rose modestly early Friday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally made strong gains Thursday, continuing rebounds from Wednesday's lows. But volume was light.
 
Applied Materials (AMAT) headlined earnings reports late Thursday, with potentially big implications for fellow chip-equipment makers, the broader semiconductor sector and even the Nasdaq itself. Many chip stocks, including ASML (ASML), Lam Research (LRCX), Brooks Automation (BRKS), Nvidia (NVDA) as well as AMAT stock flashed some bullish signals during the regular session.
 
Tech titans Facebook (FB) and Google parent Alphabet (GOOGL) remain among the more-attractive tech stocks. Apple (AAPL) and Microsoft (MSFT) also had nice gains Thursday, bolstering the major indexes, but haven't shown as much leadership. The same goes for Tesla (TSLA), which remains below moving averages.
 
While tech stocks thrived, mining, metals, financials largely sat out Thursday's rally after tumbling Wednesday.

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