NEW YORK – In after-hours trading, Dow Jones futures, S&P 500 futures, and Nasdaq futures all saw a slight dip, with Palo Alto Networks grabbing the attention with their earnings report.
The stock market retreat on Tuesday was led by AI stocks, particularly Nvidia, whose highly anticipated earnings report is due Wednesday night. The results and guidance of Nvidia are expected to have a significant impact on several other AI companies, including Advanced Micro Devices, Arm Holdings, and Super Micro Computer.
Investors are advised to exercise caution when considering new purchases and to carefully evaluate whether to hold onto or take profits from Nvidia and other AI stocks.
Key players in the tech industry such as Manhattan Associates, ServiceNow, and GigaCloud Technology were analyzed in a video embedded in the article, providing further insight into the market activity.
In other market news, Amazon.com is set to join the Dow Jones Industrial Average on Monday, Feb. 26, replacing Walgreens Boots Alliance, while Uber Technologies replaces JetBlue Airways in the Dow Jones Transportation Average.
Moving to the futures market, Dow Jones futures lost 0.1% while S&P 500 futures and Nasdaq 100 futures also saw declines.
Earnings reports from various companies, including Palo Alto Networks and Toll Brothers, were discussed in the article, with Palo Alto beating expectations but cutting full-year billings and revenue guidance.
The stock market saw a much-needed pullback, giving room for moving averages to catch up and potentially creating new opportunities for investors.
This market retreat was further evidenced by the performance of various industry ETFs, with declines seen in growth ETFs and more speculative story stocks.
Looking ahead, Nvidia stock is a focus for investors, with the tech giant’s anticipated earnings report expected to have wide-ranging implications for the market and other AI stocks. As investors weigh their options, the article provides advice on whether to hold onto Nvidia through earnings or to consider selling other AI stocks.
The article also highlights the performance of other AI stocks such as AMD, Arm, Super Micro, and ServiceNow, urging investors to proceed with caution given the potential risks associated with Nvidia earnings.
Overall, the article paints a cautious picture for tech stocks, advising investors to consider profit-taking and exercise prudence while scouting for potential buying opportunities.