Dow Jones futures rose early Friday, along with S&P 500 futures and Nasdaq futures. Apple flashed a big signal on earnings while Atlassian and Deckers made big, divergent moves.
The stock market rally advanced Thursday though the indexes pared gains near the close on fresh tariff threats.
President Donald Trump says he'll impose 25% tariffs on Canada and Mexico on Saturday, with possible new tariffs on Chinese goods as well.
Tesla rose solidly as Elon Musk said robotaxis are almost here, just below early entries. Microsoft and ServiceNow were notable earnings losers.
Battered giant Nvidia tested key support but closed higher. Many of Monday's big artificial intelligence losers continue to rebound.
Meta is on IBD Leaderboard, with Tesla stock on the Leaderboard watchlist. Microsoft stock is on IBD Long-Term Leaders. Meta stock is on the IBD 50.
Dow Jones Futures Today
Dow Jones futures advanced 0.3% vs. fair value. S&P 500 futures climbed 0.4% and Nasdaq 100 futures rose 0.8%. Apple stock is a Dow Jones, S&P 500 and Nasdaq titan.
The Dow and S&P 500 are set to open close to all-time highs.
Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
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Apple Earnings
Apple earnings slightly beat fiscal Q1 views with revenue in line. Services were strong but iPhone revenue missed amid China weakness.
Apple stock rose 4% in premarket trade. That signals a clear move above the 50-day line, offering an early entry. Shares edged down 0.75% to 237.59 Thursday, hitting resistance at the 50-day. AAPL stock is already up strongly for the week, rebounding powerfully from the 40-week line.
Other Earnings
Visa, Baker Hughes, SkyWest, Atlassian, Deckers, ResMed, Intel and KLA Corp. were notable companies reporting after the close.
Atlassian stock skyrocketed late on earnings, set to gap well above a base. SkyWest is set to move out of a buy zone. Beaten-down Intel and KLA also rose. Visa and Baker Hughes climbed modestly, with the latter moving back toward a buy point.
Deckers stock plunged, signaling a move below its 50-day line. ResMed stock fell modestly, testing a buy point.
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Stock Market Rally
The stock market rally faded from session highs after President Trump said he would go ahead with tariffs on Canada and Mexico.
The Dow Jones advanced 0.4% in Thursday's stock market trading, nearing record highs. The S&P 500 index rose 0.5%. The Nasdaq climbed 0.25% after testing its 50-day intraday. The small-cap Russell 2000 jumped 1.1%, but backed off an intraday move above its 50-day.
Microsoft, ServiceNow, Caterpillar and UPS were notable earnings losers. IBM soared while Tesla stock and Meta advanced.
U.S. crude oil prices rose 11 cents to $72.73 a barrel.
The 10-year Treasury yield fell four basis points to 4.515%.
Leading stocks had a strong session. Square parent Block, Lululemon, Veracyte, Grupo Financiero Galicia and Parker-Hannifin flashed buy signals Thursday, with related stocks for each of those names also showing bullish action.
Nvidia undercut its 200-day line, but rebounded for a 0.8% gain. Broadcom, Vistra Energy, Arista Networks and many Monday AI losers are roaring back, though their charts don't look great.
ETFs
Among growth ETFs, the Innovator IBD 50 ETF popped 2.8%. The iShares Expanded Tech-Software Sector ETF declined 0.7%, with Microsoft and ServiceNow the biggest culprits. The VanEck Vectors Semiconductor ETF bounced 2.35%, with Nvidia the No. 1 component.
ARK Innovation ETF jumped 2.7% and ARK Genomics ETF leaped 4%. Tesla stock is the top holding across Ark Invest's ETFs.
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Tesla Stock
Tesla earnings were lousy and the near-term future doesn't seem especially bright, with analysts slashing 2025 EPS estimates. But Elon Musk sees a robotaxi business starting this June in Austin.
Tesla stock rose 2.9% to 400.28, rebounding back above the 50-day line but hitting resistance at the 21-day line.
TSLA stock is in a base with a 488.54 buy point, according to MarketSurge. A move above Thursday's high of 412.50 could offer an aggressive entry. Investors also could use a downward-sloping trendline or the Jan. 17 high of 439.74 as early buy points.
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What To Do Now
The stock market rally has shown resilience. Leaders are doing well, despite some serious damage among AI plays.
So investors can try some new positions. But the market remains vulnerable to daily or intraday swings. So don't get too aggressive or concentrated, and be ready to step back.
Earnings remain heavy. While investors dream of gap ups like IBM, Deckers and ServiceNow show the dangers. Meanwhile, investors are still grappling with DeepSeek implications. Trump tariff threats are a wild card.
Make sure your watchlists are up to date.
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Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
