Dow Jones Futures: Nvidia Eyes New Milestone, AMD Setting Up, But Stock Market Needs This

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.

X

The stock market rally powered higher during the week thanks to Nvidia (NVDA) earnings and guidance lifting AI plays. The S&P 500 and Dow Jones hit record highs while the Nasdaq composite is getting close. Nvidia itself soared, flirting with yet another milestone.

Advanced Micro Devices (AMD), Lennar (LEN), Manhattan Associates (MANH), Microsoft (MSFT) and MongoDB (MDB) are stocks setting up or potentially actionable. AMD stock, MongoDB and Microsoft are AI plays.

Still, investors should be cautious about new buys, especially with AI stocks now. The market rally is on the cusp of being extended, even with Friday’s pause. Many of the hottest stocks, including Nvidia, are greatly stretched. A longer stock market pause or pullback could be constructive.

Nvidia stock is on IBD Leaderboard. Microsoft stock is on SwingTrader and IBD Long-Term Leaders. Nvidia, Microsoft and MongoDB are on the IBD 50. Nvidia, MongoDB, AMD and Manhattan Associates stock are on the IBD Big Cap 20.

The video embedded in this article discusses the big market week and analyzed Lennar, Manhattan Associates and AMD stock

Berkshire Hathaway Earnings

Berkshire Hathaway (BRKB) is set to report fourth-quarter earnings Saturday morning. The conglomerate is expected to report operating earnings of $3.81 per share, up 24.5% vs. a year earlier.

Berkshire also will disclose net equity buys or sales, the size of its cash hoard as well as buybacks of its own shares.

Investors also should get Warren Buffett’s annual letter to shareholders, where he will offer his thoughts on the economy and investing.

Berkshire Hathaway Class B shares rose 2.8% to 417.22 last week, a fresh high and the sixth straight weekly gain.

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

Remember that overnight action in Dow futures and elsewhere doesn’t…