Dow Jones Ascends: Nvidia and Taiwan Semi Lead with 5 AI Stocks Close to Purchase, Highlighting Market Dominance

• Dow Jones futures, S&P 500 futures, and Nasdaq futures saw a slight increase after hours.
• Nvidia (NVDA) and Taiwan Semiconductor (TSM) are set to announce their sales data on Friday.
• The stock market rally had a solid Thursday, with the Dow Jones rising for a seventh straight session.

Stock market rally continues with Dow Jones futures rising after hours. Nvidia and Taiwan Semiconductor to announce sales data on Friday.

Dow Jones Futures Today

Dow Jones futures rose 0.15% vs. fair value. S&P 500 futures and Nasdaq 100 futures climbed 0.1%. It is important to note that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Stock Market Rally

The stock market rally had broad gains on Thursday. The Dow Jones Industrial Average rose 0.9% in Thursday’s stock market trading. The S&P 500 index climbed 0.5%. The Nasdaq composite advanced 0.3%. The small-cap Russell 2000 gained 0.9%. The Dow Jones, up for seven straight sessions, is moving toward record highs. So is the S&P 500. The Nasdaq and Russell 2000 paused over the past few days. All are above their 50-day moving averages.

ETFs

Among growth ETFs, the iShares Expanded Tech-Software Sector ETF (IGV) dipped 0.1%. The VanEck Vectors Semiconductor ETF (SMH) fell 0.6%. Nvidia and TSM stock are the two largest SMH holdings, with Broadcom, KLA and AMAT stock also key members.

AI Chip Stocks

Taiwan Semiconductor dipped 0.6% to 142.79 on Thursday. Shares are working on a 148.43 double-bottom buy point. TSM stock reclaimed the 50-day line on May 3 and has crossed a downward-sloping trendline.

Tesla Stock

Tesla stock fell 1.6% to 171.97, just undercutting the 50-day line. Shares have given up most of their 15% gain on April 29. That came after Tesla cleared key hurdles toward introducing Full Self-Driving in China.

Conclusion

The stock market rally continues with Dow Jones futures rising after hours. Nvidia and Taiwan Semiconductor are set to announce their sales data on Friday. The Dow Jones Industrial Average rose 0.9% in Thursday’s stock market trading. The S&P 500 index climbed 0.5%. The Nasdaq composite advanced 0.3%. The small-cap Russell 2000 gained 0.9%. Taiwan Semiconductor dipped 0.6% to 142.79 on Thursday. Tesla stock fell 1.6% to 171.97, just undercutting the 50-day line.