Here Are Thursday’s Top Wall Street Analyst Research Calls: Broadcom, CMS Energy, Commercial Metals, FedEx Freight, Medtronic, Murphy Oil, Sherwin-Williams, TeraWulf, and More Quick Read: – Stocks were hammered on Wednesday as rising oil prices and bond yields invited the…
llers back to the party. – The recent rally in the major indexes is almost exclusively due to ongoing strength in the AI/Datacenter/Storage/Technology trade. – The May jobs report, scheduled for Friday, could set the stage for which direction the market will trade for the balance of the quarter. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn’t make the cut. Grab the names FREE today
Pre-Market Stock Futures: Futures are trading mixed after the AI/Datacenter/Storage/Technology rally took a day off on Wednesday. By the close, all of the major indices finished the day down in a big way. The same issues that have added pressure to stocks once again showed up at the party, as rising interest rates and oil prices were cited as the reasons for the big decline.
Add in the fact that the market is extremely overbought, and you have all the ingredients for a risk-off session. The Russell 2000 was the biggest loser on the day, dropping 1.31% to $2,893, while the Dow Jones Industrial Average took a similar drubbing, closing 1.21% lower at 50,687. The S&P 500, looking to close higher for the 10th consecutive week, was last seen at 7,553, down 0.74%, while the tech-heavy Nasdaq closed at 26,853, down 0.89%.