Dow Jones Futures Rally: Tesla Hits $1 Trillion, Donald Trump SPAC

Dow Jones futures rallied 100 points early Tuesday after Monday’s stock market rally saw Tesla stock surge to all-time highs to hit the $1 trillion milestone. The Former President Donald Trump SPAC dived, but looked to rebound early Tuesday. And Facebook earnings topped estimates late Monday.

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On Monday, the Dow Jones Industrial Average moved up 0.2%. The S&P 500 rose 0.5%, while the Nasdaq led the way, rising 0.9%.

Among the Dow Jones leaders, Apple (AAPL) fell less than 0.1% in today’s stock market, while American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) eyed new buy points in the current rally.

Tesla (TSLA) surged nearly 13% Monday to hit more record highs.

Among companies reporting earnings, Facebook (FB) beat earnings targets late Monday, while Advanced Micro Devices (AMD) and Microsoft (MSFT) will report after the close Tuesday.

Among the top stocks to buy and watch, Cleveland-Cliffs (CLF), Nvidia (NVDA) and Olaplex (OLPX) are in or near new buy zones.

Microsoft, Olaplex and Tesla are IBD Leaderboard stocks. Nvidia was featured in this week’s Stocks Near A Buy Zone story, while Cleveland-Cliffs was Friday’s IBD Stock Of The Day.

Dow Jones Futures Today

Ahead of the stock market open Tuesday, Dow Jones futures rose 0.3% vs. fair value, while S&P 500 futures rallied 0.4%. Nasdaq 100 futures gained 0.6% 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.

Among exchange traded funds, Innovator IBD 50 (FFTY) moved up 1.55% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 1%. And the SPDR S&P 500 ETF (SPY) ascended 0.5%.

Stock Market Rally

The stock market rally strengthened Monday, as the Dow 30 and S&P 500 notched all-time highs, while the Nasdaq recovered from Friday’s moderate loss.

Stock Market ETF Strategy And How To Invest

For daily stock market commentary, be sure to check out IBD’s The Big Picture.

On Friday, The Big Picture commented, “The Nasdaq and S&P 500 made it three straight weekly gains. In the past week, the Nasdaq added 1.3% and the S&P 500 rose nearly 1.7%. For the month of October, the Nasdaq is up 4.4% and the S&P 500 up 5.5%. Friday’s distribution day was a stumble for the stock market, but nothing to throw it off its new uptrend.”

Five Best Dow Jones Stocks To Watch Now

Dow Jones Stocks To Buy And Watch: Amex, Goldman, JPMorgan

American Express ended Monday in the 5% buy area above a 178.90 buy point in a cup with handle, according to IBD MarketSmith chart analysis. Shares lost 2.55% Monday.