Stock Market Today With IBD Indexes Muted As Oil Prices Swing, But AI Stocks Strong. ASML, GSK, Cameco In Focus
7 snips
Mar 10, 2026 Markets held steady amid volatile oil swings while AI-related stocks and infrastructure ETFs showed notable strength. Discussion covers ASML’s technical bounce, GSK’s improving relative performance, and Cameco’s role in the uranium/nuclear trade. Oracle’s earnings are examined for signals about AI data center demand.
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Indexes Need Sustained Breakouts To Confirm Rally
- Major indexes show a tentative rally but remain below key 50-day lines, creating inconsistency in market direction.
- Ed Carson warns we need several sustained up days and clear 50-day breakouts or risk renewed chop and downside.
Oil Prices Are Whipsawing On Newsflow And Timing
- Oil futures swung wildly from roughly $120 to about $80 intraday, driven by geopolitical headlines and conflicting official tweets.
- Ed Carson notes futures market timing caused large reported daily moves and that reserve releases may only be a temporary fix.
Use ETFs To Play Chips But Be Selective
- Consider AI infrastructure ETFs like SMH to play chip strength but avoid buying every AI-related name.
- Ed Carson recommends selective exposure since many AI plays are extended and risky.