Stocks Rally on AI Earnings Despite Extended Market
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Dow Jones futures will open Sunday evening, along with S&P 500 and Nasdaq futures. The stock market rally continued advancing this past week.
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Several huge AI-related earnings gaps took place, buoying AI and cloud stocks like Arm Holdings, Palantir, and Cloudflare. UiPath and Samsara flashed buy signals.
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But with the market rally looking extended, investors should be cautious about new buys. Earnings season remains in force with several key reports next week.
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The Nasdaq powered higher, nearing all-time highs. Market leadership is broader than just AI, with housing, travel and health care names faring well.
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There aren't many stocks to buy right now. It's a time to enjoy the ride, run screens, and have exit strategies ready.