Dow Jones Futures: Meta Continues Tech Titan Meltdown; Apple On Deck


Dow Jones futures rose early Thursday, while S&P 500 futures and Nasdaq futures fell. Treasury yields moved higher. Meta Platforms (META) plunged on earnings, though its spending splurge lifted several big tech suppliers.




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Apple stock and Amazon.com are on deck Thursday night.

The stock market rally had big intraday swings Wednesday, but the major indexes ultimately closed near session lows. The Nasdaq fell sharply on Microsoft (MSFT) and Google earnings.

Some more stocks flashed buy signals, including Enphase Energy (ENPH), Wingstop (WING) and Rollins (ROL).

Separately, Tesla (TSLA) reportedly faces a criminal probe over its self-driving claims.

Earnings

Facebook parent Meta Platforms, Wolfspeed (WOLF), Ford Motor (F), Impinj (PI), Molina Health (MOH), Aspen Technology (AZPN) and ServiceNow (NOW) reported after the close.

Meta stock tumbled on weak earnings and guidance. But Meta’s massive spending plans buoyed several chip and networking firms, including Nvidia (NVDA) and Arista Networks (ANET).

WOLF stock plunged on its guidance. Aspen Technology, ServiceNow and PI stock were big earnings winners, Molina Health popped. Ford fell slightly. AZPN stock was not yet active.

Merck (MRK), Shopify (SHOP), Mastercard (MA), McDonald’s (MCD) and Caterpillar (CAT) all topped views, with Merck also raising guidance. CAT stock rose solidly, with Merck, McDonald’s and Shopify also higher. Mastercard edged lower.

All eyes will soon turn to tonight, with Apple (AAPL) on tap, along with Amazon.com (AMZN) and biotech giant Vertex Pharmaceuticals (VRTX).

Apple stock and Amazon fell back from near their 50-day line Wednesday. VRTX stock is in a buy zone.

Vertex stock and Wingstop are on IBD Leaderboard. WOLF stock is on the Leaderboard watchlist. ENPH stock is on the IBD 50. Vertex, Molina Health and ENPH stock are on the IBD Big Cap 20. Enphase Energy was Wednesday’s IBD Stock Of The Day.

The video embedded in this article discussed the market’s volatile action and analyzed WING stock, Enphase and Clearfield (CLFD).

Tesla Criminal Probe

Tesla faces a criminal probe over its self-driving claims, Reuters reported Wednesday. The Justice Department probe started last year and is not close to reaching any conclusions, according to the report. The criminal probe comes amid an ongoing, expanding Autopilot probe by the National Highway Traffic Safety Administration.

The new criminal probe didn’t seem to affect TSLA stock. Shares closed up 1% to 224.64, off session highs as the market faded from late-morning peaks.

Meanwhile, Tesla CEO Elon Musk dropped by Twitter (TWTR) headquarters and changed his Twitter bio to “Chief Twit” with all signs pointing to his $44 billion takeover closing by Friday evening. TWTR stock rose 1.2% on Wednesday to 53.42, up 7% so far this week and just below the $54.20 price tag.

Twitter stock rose 1% to 53.90 overnight, as the NYSE said TWTR would be delisted at Friday’s close.

It’s unclear if Musk still has to sell more Tesla stock to finance the Twitter takeover.


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Dow Jones Futures Today

Dow Jones futures rose 0.65% vs. fair value, with CAT stock, MRK and McDonald’s helping….



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