The Dow and S&P 500 hit new highs Friday after Federal Reserve Chair Jerome Powell hinted at possible rate cuts next month during his Jackson Hole speech. That sets the market up in a healthy position for next week. Uber Technologies, JPMorgan Chase (JPM), Booking Holdings (BKNG), RTX (RTX) and Boston Scientific (BSX) will be stocks to watch as they work toward potential entries.
Uber (UBER) is trending toward all-time highs after topping revenue estimates for Q2 results earlier this month and announcing a new $20 billion share buyback program. Sales rose 18% during the quarter, driven by a 17% increase in gross booking value across its ride and food-delivery business. Earnings increased 34% to match estimates.
The midpoint of Uber's gross bookings outlook was ahead of forecasts. However, analysts still have some concerns about potential competition from robotaxis and Waymo.
CEO Dara Khosrowshahi in the news release said that Uber has 20 autonomous vehicle partnerships around the world. The company last month announced plans to invest $300 million in Lucid (LCID) to launch a line of self-driving vehicles.
Uber rose 2.7% on Friday and 4.5% for the week to 96.79, nearing a 97.72 buy point for a shallow cup base. The entry matches Uber's record high from July 9. Investors could have used Tuesday's high of 96.60 as an early entry.
Uber's relative strength line has trended higher since early July.
Uber has rallied 60.5% so far this year.
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JPMorgan stock on Friday pushed off its 21-day line and 10-week moving average, while also topping the bulk of several weeks of tight trading. Investors could have used that as an early entry. The recent record high of 301.29 also offers a buy point.
JPMorgan has jumped nearly 24% this year.
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Bank and money center stocks have climbed since April, MarketSurge charts show. JPMorgan CEO Jamie Dimon during the company's earnings beat from July said that investment banking activity regained momentum as market sentiment improved.
The bank's results were boosted by a "resilient" economy, while tax reform and potential deregulation have also been boons for the financial sector.
Meanwhile, JPMorgan is in advanced talks to take over Apple's (AAPL) credit card program from Goldman Sachs (GS), the Wall Street Journal reported in late July.
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Booking Holdings is pushing back toward record highs as travel demand powered a second-quarter beat-and-raise report from late July.
The parent company of Booking.com, Priceline and OpenTable in July reported that total bookings grew 13% across all its platforms.
Booking also raised its full-year guidance for gross bookings value to grow in the high-single digits when factoring in currency fluctuations. It previously expected mid- to high-single-digit growth.
Booking CEO Ewout Steenbergen noted it could be impacted by increased geopolitical uncertainty, but global travel demands "continue to be steady" so far heading into the third quarter.
BKNG stock is climbing toward a 5839.41 buy point for a flat base.
Shares offered an early entry this week after jumping back above their 50-day moving average to break a downtrend from early July.
Booking stock has advanced 15% so far this year.
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RTX is trading near record highs amid strong demand for defense contractors with the ongoing conflicts in the Middle East and Ukraine. NATO allies in June agreed to hike their defense spending targets, while President Donald Trump's "One Big Beautiful Bill" is set to increase national defense funding.
RTX in July topped analyst expectations with an 11% increase in earnings on 9% revenue growth. Raytheon sales rose 8% during the quarter, while Pratt & Whitney revenue jumped 12%.
RTX also raised its organic sales growth forecast to range from 6% to 7%, up from its prior forecast for 4% to 6% growth.
However, RTX cut its earnings estimates to range from $5.80 to $5.95 per share adjusted. RTX previously expected earnings between $6 per share and $6.15 per share.
RTX still maintained its free cash flow outlook for $7 billion to $7.5 billion.
RTX stock has found support along its 21-day line, while its 10-week line is catching up. Shares have traded tightly over the past five weeks, offering investors a 158.79 buy point. The entry matches RTX's record high from July 29.
RTX has advanced 35% so far this year.
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Boston Scientific was the IBD Stock Of The Day for Wednesday.
The Marlborough, Mass.-based medical devices company is coming off a strong Q2 beat from late July. Sales for Boston Scientific's Watchman device, which helps prevent stroke, surged 28%. Sales for its electrophysiology division, which includes Farapulse, spiked 94%. Farapulse revenue in the U.S. soared 117%.
The company is working on a new catheter to be used with Farapulse, that is expected to receive Food and Drug Administration approval by the end of the year.
BSX stock on Wednesday offered an aggressive early entry after breaking a short downtrend with a strong move above its 50-day line. It's still actionable from that.
Investors could use 107.06 or 107.53 as the traditional buy points. Boston Scientific will have another flat base after next week, with a 108.94 buy point.
BSX stock has traded relatively sideways since February but managed to hold near record highs. Shares are up about 19% in 2025.
Boston Scientific's relative strength line has rebounded modestly over the past week to buck a decline stretching back to May.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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