Dow Jones Futures: Market Rally Strong As Tesla, Rivian Run, But

Dow Jones futures were little changed Tuesday night, along with S&P 500 futures and Nasdaq futures. The stock market rally had a solid session Tuesday, with the S&P 500 index and Nasdaq composite just below recent all-time highs.

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EV stocks continued to be market rally hot rods. Rivian (RIVN) and Lucid Motors (LCID) continued to lead the way, but Tesla stock rebounded. Xpeng (XPEV) and Li Auto (LI) are actionable now.

Chipmakers and software stocks continued to do well.

Meanwhile, retailers are acting well, with HD stock and Lowe’s (LOW) clearing three-weeks-tight patterns while Target (TGT) moved higher in a buy zone. Home Depot (HD) topped earnings views Tuesday morning while rival Lowe’s and discount giant Target are due early Wednesday.

Meanwhile, President Joe Biden said he will announce a decision on his Federal Reserve chairman pick in about four days. That suggests a weekend announcement, giving financial markets time to mull it over. Most analysts see Biden either nominating Fed chief Jerome Powell for a second term or choosing Fed Gov. Lael Brainard.

Tesla (TSLA) is on IBD Leaderboard and the IBD 50.

The video embedded in this article analyzed On Holding (ONON), MSCI (MSCI) and Li Auto stock.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures edged higher and Nasdaq 100 futures were flat.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Stock Market Rally

The stock market rally continued to shrug off last week’s brief pullback. The Dow Jones Industrial Average rose 0.15% in Tuesday’s stock market trading. The S&P 500 index climbed 0.4%. The Nasdaq composite gained 0.8%. The small-cap Russell 2000 edged up 0.1%.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.7%, while the Innovator IBD Breakout Opportunities ETF (BOUT) climbed 1.35%.  The iShares Expanded Tech-Software Sector ETF (IGV) advanced 1.1%. The VanEck Vectors Semiconductor ETF (SMH) gained 1.3%.

SPDR S&P Metals & Mining ETF (XME) slumped 1.9% and Global X U.S. Infrastructure Development ETF (PAVE) edged up 0.4%. U.S. Global Jets ETF (JETS) descended 2.4%. SPDR S&P Homebuilders ETF (XHB) advanced 1.9%, with Home Depot and Lowe’s stock among the top components. The Energy Select SPDR ETF (XLE) inched 0.2% higher and the Financial Select SPDR ETF (XLF) dipped 0.1%.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) rose 1.2% and ARK Genomics ETF (ARKG) popped 2%. Tesla stock remains the top holding among ARK Invest’s ETFs.

Five Best Chinese Stocks To Watch Now

EV Stocks Hot

Rivian stock raced 15% higher to 172.01, continuing to go vertical since its Nov. 9 IPO.  RIVN stock has more than doubled from the $78 offering price. Lucid stock spiked 24% to a nine-month high after touting a big jump in Lucid Air…