Dow Jones futures saw a slight decline on Friday morning with S&P 500 and Nasdaq futures also dipping slightly. Key companies including Coinbase Twilio and Roku reported earnings late Thursday.

The stock market rally continued its momentum on Thursday extending Wednesday's positive reversal helped by several major earnings announcements. President Donald Trump signed an executive order to impose reciprocal tariffs in response to other countries' trade barriers. However the tariffs won’t take effect immediately which provided relief to the market.

The S&P 500 is hovering just below all time highs and several key growth ETFs are reaching record or 52 week highs.

Stock Market Performance Thursday’s rally saw the Nasdaq S&P 500 and Dow Jones all closing higher. The major indexes were boosted despite a hot inflation report and President Trump's new tariffs. The market’s reaction was more positive than expected easing some of the concerns initially raised by the headlines.

The Dow Jones Industrial Average gained 0.8% the S&P 500 climbed 1%, and the Nasdaq composite surged 1.5%. The small cap Russell 2000 index also rose 1.2% although it remains below the 50 day moving average.

Markets have rebounded strongly since Wednesday’s morning drop and both the Nasdaq and S&P 500 are breaking short term downtrends, although still within their recent ranges from December. The S&P 500 is near the top of this range just below its January all time highs.

Several growth ETFs performed well with the First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) rising 1.2% to a new record high. The ARKK and FFTY ETFs are also performing strongly close to their best levels since mid 2022.

Commodities & Bonds U.S. crude oil prices slightly decreased dropping 11 cents to $71.29 per barrel. The 10 year Treasury yield fell 11 basis points to 4.52% reversing a five-session winning streak.

Key Earnings Reports A number of companies reported earnings late Thursday including Coinbase Twilio Palo Alto Networks GoDaddy Roku Airbnb and Applied Materials. Notably Roku and Airbnb both saw impressive gains in premarket trading signaling potential breakouts. However Twilio and Palo Alto Networks experienced declines.

Coinbase stock experienced modest volatility trading near an early entry point while Applied Materials saw a significant drop.

Tesla and Nvidia Stock Updates Tesla stock rose by 5.9% after a two day rebound from recent lows. Despite the gains Tesla remains below its key moving averages and is still down for the week.

Nvidia stock rose 3.2% reclaiming its 50 day moving average for the first time since January’s sell off. Although the stock is on an upward trajectory it still has significant room for improvement and needs further consolidation.

What to Do Now Market Outlook The market is showing strength, but uncertainty remains. While the recent rally is encouraging, it’s unclear whether this marks the beginning of a sustained uptrend or another temporary rebound. Investors should proceed cautiously making new buys gradually while being prepared to exit if the market takes a downturn.

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