MYworldfix

On Friday morning, Dow futures embarked on a climb following a previous losing session on Wall Street. The futures tied to the Dow Jones Industrial Average witnessed a 0.07% increase. Simultaneously, S&P 500 futures advanced by 0.15%, and Nasdaq-100 futures rose by 0.4%. One notable gain was seen in Broadcom, which surged by 14% after posting its fiscal fourth-quarter adjusted earnings that surpassed estimates. Additionally, the company reported a remarkable 220% year-on-year growth in artificial intelligence revenue. Home furnishing company RH also saw a significant pop of 18% due to its strong revenue growth guidance.

Overnight Moves and Weekly Trends

These overnight moves came on the heels of a losing session on Wall Street. The 30-stock Dow dropped 234 points, approximately 0.5%, marking its sixth consecutive day of decline and its longest losing streak since April. The Nasdaq Composite fell nearly 0.7% and broke below the 20,000 mark as technology stocks like Nvidia slumped. Meanwhile, the S&P 500 edged down about 0.5%. For the week, the Dow is headed for a 1.6% decline, while the S&P 500 is on pace for a 0.6% slide. The Nasdaq, however, has outperformed, with a 0.2% advance for the period.Thursday's moves were influenced by a producer price index report for November that exceeded expectations. Wholesale prices increased by 0.4% last month, higher than the Dow Jones consensus estimate of 0.2%.The recent rise in equities has sparked some concerns about an overvalued market fueled by a post-election rally. However, some on Wall Street believe there may still be room for further growth. Joe Terranova, chief market strategist at Virtus Investment Partners, said on Thursday's "Closing Bell" on CNBC, "I think we're at the point of optimism. I don't think we're at the point of euphoria right now. The reason to be skeptical about the market's ability to have another significant positive year like the last two is that everyone is bullish." He suggests that investors should now focus on specific sectors rather than an overall rise in equities.Friday is a light day for economic data, with November import and export data expected to be released.

Biggest Movers After Hours

After the bell on Thursday, several stocks made significant moves. Broadcom's shares popped 14% after the company reported better-than-expected earnings and indicated strong demand as it develops custom AI chips. The company also provided stronger-than-expected guidance for the fourth quarter and its semiconductor solutions group. RH surged nearly 18% despite posting third-quarter earnings that fell short of Wall Street's estimates. The company raised its fourth-quarter guidance and expects revenue growth to range between 18% and 20%, compared to an LSEG estimate of 7.1%.These are the stocks that made the most significant moves in the after-hours session.