Dow Jones Futures: S&P 500 Holds, Toast Leads 5 New Buys; Robinhood, Arm Are

Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures. Arm Holdings (ARM), Duolingo (DUOL), AppLovin (APP) and Robinhood Markets (HOOD) headlined key earnings after the close.

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The stock market rally had a quiet session for a second straight day. Nvidia (NVDA) fell slightly for a second straight session.

But many growth stocks shined. Arista Networks (ANET), Toast (TOST) and Vertex Pharmaceuticals (VRTX) broke out or flashed buy signals on earnings. Storage plays Nutanix (NTNX) and NetApp (NTAP) also triggered entries.

In addition to Arm, Duolingo, AppLovin and Robinhood, Airbnb (ABNB), Instacart (CART) and Trade Desk (TTD) reported.

Early Thursday, Constellation Energy (CEG) and GigaCloud Technology (GCT) are due.

Nvidia is on IBD Leaderboard, with Toast stock added Tuesday as an earnings options play. Nvidia stock, NetApp and Toast are on SwingTrader. Nvidia, Toast and GigaCloud stock are on the IBD 50. Trade Desk stock is on the IBD Big Cap 20. Toast was Wednesday’s IBD Stock Of The Day.

Dow Jones Futures Today

Dow Jones futures were flat vs. fair value. S&P 500 futures and Nasdaq 100 futures fell 0.1%.

The 10-year Treasury yield edged up to 4.5%.

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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Stock Market Rally

The stock market rally had another quietly mixed session.

The Dow Jones Industrial Average rose 0.4% in Wednesday’s stock market trading. The S&P 500 index was flat. The Nasdaq composite fell 0.2%. The small-cap Russell 2000 fell 0.6%, but closed near session highs after finding support near the 50-day line.

U.S. crude oil prices rose 0.8% to $78.99 a barrel.

The 10-year Treasury yield climbed 3 basis points to 4.49%, ending a five-session slide.

ETFs

Among growth ETFs, the iShares Expanded Tech-Software Sector ETF (IGV) fell 0.4%, with AppLovin and NTNX stock in the ETF. The VanEck Vectors Semiconductor ETF (SMH) edged up 0.3%. Nvidia is the No. 1 holding in SMH.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) fell 2.5% and ARK Genomics ETF (ARKG) gave up 2.3%. HOOD stock is a notable holding across Ark Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) declined 0.85%. The SPDR S&P Homebuilders ETF (XHB) slipped 0.35%. The Energy Select SPDR ETF (XLE) dipped 0.1% and the Health Care Select Sector SPDR Fund (XLV) retreated 0.3, with VRTX stock a member.

The Industrial Select Sector SPDR Fund (XLI) closed flat. The Financial Select SPDR ETF (XLF) climbed 0.4%.

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Key Earnings

Arm earnings beat fiscal Q4 views easily. The AI and wireless chip play guided up slightly on fiscal Q1, but its full-year revenue forecast for a little light. shares plunged in overnight action. The stock fell 1.6% to 106.07 on Wednesday, around its 21-day line. ARM stock has been rebounding since plunging over several sessions in mid-April but is still well below its 50-day line.

Duolingo earnings topped consensus but guidance wasn’t great. DUOL stock dived in extended trade. Shares dropped 1.7% to 244.64 on Wednesday, right around a 245.59 cup-base buy point. Duolingo stock is trying to clear a consolidation going back to December.

AppLovin earnings and guidance were strong. APP stock soared overnight. Shares retreated 4% to 74 on Wednesday, ending a four-day win streak. AppLovin stock rebounded from the 50-day line in late April.

Robinhood earnings easily beat views, fueled by crypto trading. HOOD stock rose modestly in extended action. Shares dipped 0.8% to 17.85 on Wednesday, holding the 50-day line. A decisive move above the 50-day would offer an early entry in an emerging consolidation, using Monday’s high of 18.46 as specific trigger. HOOD stock is on track to have a base with a 20.55 buy point after Friday.

Airbnb earnings topped views but the online travel site guided lower for Q2. ABNB stock tumbled in late trade. Shares slipped 1.2% on Wednesday to 148.51, dropping a little further below the 50-day line. Airbnb stock has a 170.10 buy point from a flat base, base-on-base formation.

Instacart earnings exceeded estimates. CART stock fell slightly in extended trade. The app-based grocery delivery firm, officially known as Maplebear, edged down 0.1% to 37.48 on Wednesday. Instacart stock has a 39.59 cup-with-handle buy point.

Trade Desk earnings topped views with the online advertising play guiding slightly higher for Q2 revenue. TTD stock rose slightly in overnight action. Shares gave up 4% on Wednesday to 86.02. Trade Desk stock is working on a loose base with a 94 buy point. But shares have been consolidating since last July.

Meanwhile, Constellation Energy and GigaCloud Technology headline early Thursday earnings.

Constellation Energy stock climbed 3.7% to 208 on Wednesday, moving toward the edge of the buy…