Tuesday's stock market witnessed a mix of performances, with Dow Jones futures showing little change and various indices and stocks moving in different directions. CrowdStrike (CRWD) played a significant role in the evening earnings lineup.

Uncover the Intricacies of Tuesday's Stock Market

Dow Jones Futures and Other Indices

Dow Jones futures remained relatively stable after hours, along with S&P 500 futures and Nasdaq futures. This indicates a cautious sentiment in the market. Bitcoin, on the other hand, continued its volatile trend, falling solidly again and MicroStrategy (MSTR) leading the crypto plays lower. Early Wednesday, investors will be closely watching the October PCE price index, the Fed's favorite inflation gauge, along with other economic data.

Remember, overnight action in Dow futures and elsewhere doesn't always translate into actual trading in the next regular stock market session. It's important to consider multiple factors when analyzing the market.

Despite President-elect Donald Trump's vow of big new tariffs on China, Canada, and Mexico on his first day in office, and Treasury yields bouncing back, the stock market rally saw modest gains on the major indexes. The Dow Jones and S&P 500 hit fresh highs, showing resilience in the face of potential headwinds.

Key Earnings and Stock Performances

CrowdStrike and fellow software makers like Workday (WDAY), Nutanix (NTNX), and Autodesk (ADSK) reported on Tuesday night. Ambarella (AMBA) stock skyrocketed overnight, signaling a 52-week high, while Nutanix stock rose solidly. However, Dell stock, Workday, Autodesk, and HP Inc. (HPQ) fell sharply. CrowdStrike declined modestly and Nordstrom (JWN) stock edged lower.

Nvidia (NVDA) edged higher but came off its highs. It flashed a buy signal as the nuclear-powered utility reclaimed the 50-day line. Nvidia and Meta stock are on IBD Leaderboard, Microsoft stock is on IBD Long-Term Leaders, and Nvidia stock is on the IBD 50. CrowdStrike stock and Nvidia are also on the IBD Sector Leaders.

Among megacap techs, Amazon.com (AMZN) rose nicely within a buy zone, Apple (AAPL) is just below a buy point, Meta Platforms (META) is near a potential early entry, Google parent Alphabet (GOOGL) and Microsoft (MSFT) reclaimed key levels. These stocks have shown different trends and performances in the market.

ETFs and Their Movements

Among growth ETFs, the Innovator IBD 50 ETF (FFTY) rose 0.6%, the iShares Expanded Tech-Software Sector ETF (IGV) gained 0.4%, and the VanEck Vectors Semiconductor ETF (SMH) fell 0.9%. ARK Innovation ETF (ARKK) retreated 1.5% and ARK Genomics ETF (ARKG) lost 0.9%. SPDR S&P Metals & Mining ETF (XME) declined 0.9%, SPDR S&P Homebuilders ETF (XHB) gave up 1.9%, the Energy Select SPDR ETF (XLE) dipped 0.2%, and the Health Care Select Sector SPDR Fund (XLV) rose 0.5%. The Industrial Select Sector SPDR Fund (XLI) inched 0.1% higher and the Financial Select SPDR ETF (XLF) edged up 0.2%.

Each ETF has its own set of characteristics and movements, reflecting the diverse nature of the market.

What to Do Now

The stock market rally is still in good shape. While much of the strength has been outside megacap techs, Amazon and a few others showed strength on Tuesday. After big gains since Election Day, investors don't need to rush to increase their exposure. They should be patient and picky, focusing on group leaders rather than extended stocks or third- or fourth-tier names with buy signals.

Continue working on watchlists and look at your portfolio for laggards that you might consider selling. Stay updated by reading The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.