Dow Jones futures nudged higher Sunday evening alongside S&P 500 and Nasdaq futures, as Wall Street heads into a retail-earnings-heavy week. Nvidia cleared an early entry point after a strong prior week, while memory chipmakers Sandisk, Micron, Seagate and SK Hynix posted sharp weekly gains.
Dow Jones futures edged higher Sunday evening, with S&P 500 futures and Nasdaq futures also ticking up. Walmart, Target and Ross Stores headline a week of retail earnings that will offer a read on consumer spending.
Stock market rally holds a tight range
The S&P 500 and the small-cap Russell 2000 hit record highs Thursday, and the Nasdaq cleared a recent pause. A Friday pullback then pulled the S&P 500 and Nasdaq back into their recent tight ranges, though small caps kept rising.
For the week, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 climbed 0.4% and the Nasdaq composite edged up 0.1%. The Russell 2000 popped 1.1%. Software had a solid weekly gain despite big daily swings, but chips and many AI plays hit resistance at key levels.
The 10-year Treasury yield rose four basis points to 4.695%, and U.S. crude oil futures jumped 5.4% to $82.40 a barrel last week.
Nvidia clears an entry as memory stocks surge
Nvidia stock edged up 0.5% to 225.16, just topping a not-quite handle entry of 224.76, after an 11.8% gain the prior week.
Sandisk led a broader memory rebound, skyrocketing 35.4% for the week to 1,641.11 on new products and strong fiscal 2028-2030 guidance, though shares tested but closed below their 50-day moving average Friday. Micron Technology jumped 10.7% to 971.66, closing just above its 50-day line. Seagate Technology leapt 19.8% to 973.44, crossing its 50-day line and triggering a buy signal, while SK Hynix shot up 20.6% to 166.33.
Retailers due to report
Walmart, Target, Home Depot and Ross Stores are among the retailers reporting earnings this week that will provide insight into consumer spending, though the source notes not many retail stocks are currently in strong technical positions.
Source: Investor's Business Daily
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