Dow Jones Futures: Congress Back To Work After Pro-Trump Mob Storms

Dow Jones futures rose Wednesday night, along with S&P 500 futures and Nasdaq futures, as Congress returned to Capitol Hill to finish the Electoral College certification of Joe Biden’s presidential victory. Earlier, Georgia runoff election results fueled a stock market rally and a shift into cyclical sectors, but the major indexes closed Wednesday mixed as a pro-Trump mob stormed Capitol Hill.

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Target stock, Apple chipmaker Qorvo (QRVO), General Motors (GM), trucking firm XPO Logistics (XPO) and wellness specialist Medifast (MED) all broke out or flashed bullish signals Wednesday, closing in buy range.

The Dow Jones, S&P 500 index and small-cap Russell 2000 rallied to record highs Wednesday, fueled by infrastructure plays, financials, hospitals, casinos, marijuana-related companies as well as old and new energy stocks.

The Nasdaq composite rebounded for modest gains, but faded late on the Trump mob’s Capitol Hill breach. Tech giants such as Apple (AAPL), Microsoft (MSFT), Amazon.com (AMZN) and Nvidia (NVDA) retreated, along with many software names.

Georgia Results Shake Up Stock Market Outlook; Key Winners, Losers

CAN SLIM expert David Ryan highlighted the shift into cyclical stocks in a special IBD Live on Wednesday.  IBD has highlighted a possible change in leadership in recent days and weeks, including in our latest IBD Weekly cover story.

Many of Wednesday’s big winners are extended, such as Caterpillar (CAT), HCA Healthcare (HCA), US Steel (X), Canopy Growth (CGC), JPMorgan Chase (JPM) and Tesla (TSLA). They aren’t actionable now, though investors should keep an eye on them.

Apple stock, Tesla and Target are on IBD Leaderboard. Target (TGT), XPO Logistics and GM stock are on SwingTrader. Microsoft stock is an IBD Long-Term Leader. Nvidia and Amazon stock are on the IBD 50.

Congress Returns To Work

Congress returned to Capitol Hill Wednesday night to complete the Electoral College certification vote, to show that lawmakers won’t be cowed by political violence.

At least a few GOP lawmakers that had planned to object to some states’ electoral votes said they changed their minds after pro-Trump riots. That includes Sen. Kelly Loeffler, who just lost her Georgia runoff Tuesday night.

Law enforcement earlier secured the Capitol building, with a very heavy presence inside and out, but it was different story in the afternoon.

Trump Mob Stormed Capitol Hill

President Donald Trump held a D.C. protest Wednesday, where he repeated his claims that widespread fraud cost him the presidential election. He urged the thousands of supporters to take action. Several hundred then marched to the Capitol Hill, entering the building and then the Senate chamber.

Law enforcement shot at least one rioter inside the Capitol Building. The woman later died. At least one improvised explosive device was found in the Capitol, according to reports. It’s unclear if police arrested any of the rioters.

Vice President Mike Pence and Congress were evacuated,…