Dow Jones Futures Rally As Stock Market Sell-Off Worsens; These 5
Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were higher late Monday following the session’s stock market sell-off. Tech giants Apple, Microsoft, Nvidia, PayPal and Square tumbled, while Tesla stock rallied on strong deliveries Monday.
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On Monday, the Dow Jones Industrial Average slid 0.9%. The S&P 500 tumbled 1.3%, while the Nasdaq plunged 2.1% even after paring some losses.
Among the Dow Jones leaders, Apple (AAPL) slid 2.5%, while Microsoft (MSFT) moved down 2.1% in today’s stock market. American Express (AXP) and Merck (MRK) are holding up well in the current stock market correction.
Tesla (TSLA) rallied nearly 1% on the back of strong deliveries, moving further above the stock’s latest buy point. Tech giants Nvidia (NVDA), PayPal (PYPL) and Square (SQ) all sold off sharply.
Among the top stocks to watch, Netflix (NFLX) and ServiceNow (NOW) were holding up relatively well during Monday’s stock market weakness.
Microsoft, ServiceNow and Tesla are IBD Leaderboard stocks. American Express is an IBD SwingTrader stock. Netflix featured in this week’s Stocks Near A Buy Zone column.
Dow Jones Futures Today
After the stock market close Monday, Dow Jones futures rallied 0.1% vs. fair value, while S&P 500 futures gained 0.2%. Nasdaq 100 futures rose 0.3% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34003.58 | -322.88 | -0.94 |
| S&P 500 | (0S&P5) | 4300.48 | -56.56 | -1.30 |
| Nasdaq | (0NDQC ) | 14255.49 | -311.21 | -2.14 |
| Russell 2000 | (IWM) | 220.27 | -2.01 | -0.90 |
| IBD 50 | (FFTY) | 45.85 | -1.27 | -2.70 |
Last Update: 4:34 PM ET 10/4/2021 |
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Among exchange traded funds, Innovator IBD 50 (FFTY) dropped 2.8% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 2.1%. And the SPDR S&P 500 ETF (SPY) descended 1.3%.
Stock Market Correction
The Nasdaq and S&P 500 tumbled to new recent lows Monday, as the current stock market correction worsened. The Nasdaq closed at its lowest level since June 22 and could be headed for a test of its long-term 200-day moving average. Meanwhile, the Dow Jones Industrial Average almost gave back the entirety of Friday’s 1.4% advance, but held above its recent lows.
Friday’s The Big Picture commented, “With the stock market in a correction, avoid the temptation of buying stocks in a down-trending market. There will always be stocks showing strength, but a weak market can eventually bring everything down with it. If market conditions continue to improve amid renewed signs of institutional buying, new setups should emerge. A confirmation of strength could come as early as next week.”
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