Dow Jones Futures: Google, AMD Surge Late On Earnings As Market Rally

Dow Jones futures tilted lower overnight, while S&P 500 futures and Nasdaq futures rose, as Google parent Alphabet (GOOGL) and Advanced Micro Devices (AMD) surged on earnings, lifting several peers. The stock market rally delivered solid gains Tuesday, adding to Monday’s game-changing advance.

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Commodity-related plays did well, with fertilizer stocks such as Mosaic (MOS) powering higher along with oil and gas names such as Williams Cos. (WMB). Apple (AAPL) and Microsoft (MSFT) continue to hold in buyable areas. Tesla stock, which rebounded powerfully from Friday’s lows, fell slightly, still needing time to repair.

Key Earnings

Google earnings beat views with the search giant also announcing a massive 20-for-1 stock split. GOOGL stock gapped up overnight after closing around a buy area. The strong online advertising news also lifted Facebook parent Meta Platforms (META), Amazon.com (AMZN) and Snap (SNAP).

AMD earnings topped forecasts. AMD stock shot up overnight. Nvidia stock, a key AMD rival, also rose.

General Motors (GM) earnings topped views, but revenue fell short. GM stock rose slightly in late trading. Ford (F), which reports earnings Thursday, edged higher overnight.

PayPal (PYPL) missed on earnings and gave weak guidance. PYPL stock, already down sharply in recent months, plunged overnight.

Starbucks (SBUX) reported mixed results. SBUX stock edged lower in extended trade after initially tumbling.

Tesla (TSLA), Nvidia (NVDA) and Microsoft stock are on IBD Leaderboard. Microsoft and Google stock are on IBD Long-Term Leaders. Google, Microsoft and Nvidia stock are on the IBD 50. Mosaic stock is on SwingTrader. Williams Cos. is today’s IBD Stock Of The Day.

The video embedded in the article discusses Tuesday’s market rally action and analyzes WMB stock, Mosaic and Expedia (EXPE).

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Dow Jones Futures Today

Dow Jones futures fell 0.1% vs. fair value. S&P 500 futures rose 0.35%. Nasdaq 100 futures popped 0.9%.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Stock Market Rally

The stock market rally was quiet for most of Tuesday’s session but picked up steam in the final hour, closing at session highs. The Dow Jones Industrial Average rose 0.8% in Tuesday’s stock market trading. The S&P 500 index climbed 0.7%. The Nasdaq composite advanced 0.75%. The small-cap Russell 2000 led with a 1% gain.

Apple stock edged down 0.1% and Microsoft shed 0.7%, barely giving up ground and shoring up into the close. The Dow Jones, S&P 500 and Nasdaq components are both actionable now.

The 10-year Treasury yield rose 2 basis points to 1.8%. U.S. crude oil futures edged up 5 cents to $82.10 a barrel.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.4%, while the Innovator IBD…