Dow Jones Futures Fall: Is Stock Market Rally Overheating? Roblox

Dow Jones futures were slightly lower late Monday after the session’s stock market rally, as the Dow Jones Industrial Average hit record highs. Roblox skyrocketed as much as 36% after reporting earnings late.

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On Monday, the Dow Jones Industrial Average moved up 0.3%. The S&P 500 rose 0.1%, while the Nasdaq climbed 0.1%.

Among the Dow Jones leaders, Apple (AAPL) moved down 0.6% Monday, while Microsoft (MSFT) gained 0.3% in today’s stock market. American Express (AXP), JPMorgan Chase (JPM) and Nike (NKE) continue to trade near new buy points in the current rally.

Tesla (TSLA) skidded nearly 5% Monday after Musk, the company’s chief executive, proposed a potential sale of his shares on Twitter over the weekend.

Among companies reporting earnings, PayPal (PYPL) and Roblox (RBLX) reported earnings after the close Monday. Palantir Technologies (PLTR) will report ahead of Tuesday’s market open.

Among the top stocks to buy and watch, Academy Sports & Outdoors (ASO), Adobe (ADBE), Goldman Sachs (GS) and Li Auto (LI) are in or near buy zones.

Microsoft and Tesla are IBD Leaderboard stocks. Academy Sports is an IBD SwingTrader stock. Apple featured in this week’s Stocks Near A Buy Zone story.

Dow Jones Futures Today: Bitcoin Hits Record High

After the stock market close Monday, Dow Jones futures lost 0.1% vs. fair value, while S&P 500 futures moved down 0.15%. Nasdaq 100 futures dropped 0.2% 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 1.3% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) lost 0.1%. And the SPDR S&P 500 ETF (SPY) ascended 0.1%.

Late Monday, the price of Bitcoin advanced to all-time highs, topping out at $67,777, rising about 7.5% over the last 24 hours, according to Coindesk. Bitcoin’s previous high was set Oct. 20 at $66,974.77.

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Stock Market Rally

The stock market rally gained further strength on Monday, as the Dow Jones Industrial Average notched more all-time highs. The Nasdaq extended a win streak to 11 sessions, while the S&P 500 made it eight straight up days.

On Friday, The Big Picture cautioned, “But consider this: The Nasdaq is now about 6% above its 50-day moving average, while the S&P 500 is about 5% above this key level. This suggests both are getting extended. While it might seem like the bears have gone into hibernation early this fall, they could easily be getting ready to ambush overconfident investors.”

Despite an extended market rally, the major stock indexes…