Previous Trading Session (March 31, 2024) Morning Hours
- The S&P 500 rose 1.3% to session highs, while the Nasdaq Composite climbed 1.6%.
- The Nasdaq Composite is on track to end the week down about 1.2%, while the S&P 500 has shed 0.1% over the same period. The Dow Jones Industrial Average, on the other hand, is on pace to end the week 0.5% higher.
- The Invesco QQQ Trust, which tracks the Nasdaq-100 index, experienced a minor pullback after a 38.3% year-to-date rally. The 20-day moving average for the QQQ is around $377.70, and the downtrend from the recent highs comes in around $380.
- Energy stocks continued to show improving momentum, with three-quarters of the S&P 500 energy sector rallying to fresh highs.
Current Pre-Market Trading (April 1, 2024)
- Stock futures rose slightly in overnight trading, with futures tied to the Dow Jones Industrial Average up 70 points (0.2%), and S&P 500 and Nasdaq-100 futures adding 0.19% each.
- The SPDR S&P Oil & Gas Exploration & Production ETF is up more than 2% for the week and on pace for its fifth consecutive weekly gain.
- Illumina, a DNA sequencing company, shed more than 4% after the bell on weaker-than-expected guidance, despite topping Wall Street’s expectations for the second quarter.
- Applied DNA Sciences, Inc. (APDN) and other pre-market movers can be found on the Nasdaq and Barchart websites.
In summary, the previous trading session saw the major indices, Dow, S&P 500, and Nasdaq, perform differently, with the Nasdaq Composite and S&P 500 ending the week lower, while the Dow was on pace to end higher. The pre-market trading on April 1, 2024, showed a slight increase in stock futures, with energy stocks continuing their positive momentum.
