Stock futures about flat following 400-point rally in the Dow

CNBC’s Jim Cramer said now is a good time to buy gold as signs are pointing to a rally, according to analysis by commodity trader Larry Williams.

The “Mad Money” host explained Williams’ analysis by looking at the weekly action of gold from 2014 and data on small speculators’ positioning on gold from the Commodity Futures Trading Commission’s Commitments of Traders report.

Gold prices usually peak soon after small speculators get too bullish on the precious metal, and bottom out when small speculators are too bearish, according to Williams.

“The charts, as interpreted by the legendary Larry Williams, suggest that the general public’s giving up on gold en masse and he thinks that that makes it the perfect entry time to do some buying,” Cramer said.

— Abigail Ng, Krystal Hur

Stocks are volatile, and bonds haven’t been doing better for much of this year, with U.S. investment grade bonds plummeting in 2022. 

But analysts have recently been bullish on income investing as yields start to creep up again.

Here are some ways that the pros suggest investors can position their portfolios for diversification and protection against market volatility as well as seek higher yields as inflation continues to rise. Pro subscribers can read the story here.

— Weizhen Tan

Fortinet shares slid more than 9% in extended trading after the cybersecurity firm reported its quarterly results, which included free cash flow of $283.5 million, compared to FactSet estimates of $337.2 million. Services revenue also missed estimates.

Other cybersecurity stocks moved lower too after hours. CrowdStrike edged lower by 1% and Palo Alto Networks lost more than 1%.

— Tanaya Macheel

Walmart has started laying off corporate employees about a week after the retail giant slashed its profit outlook and warned about a pullback in consumer discretionary spending due to inflation. The company described the layoffs as a way to “better position the company for a strong future” in a statement to CNBC. Shares inched lower by less than 1% after hours.

— Tanaya Macheel

Shares of the electric luxury vehicle maker Lucid Group tumbled 11.7% in extended trading after the company cut its full-year production targets for a second time to 6,000. The original forecast was 20,000. The company also reported a quarterly loss of 33 cents per share.

— Tanaya Macheel