Dow Jones Futures: Market Rally Keeps Sliding, 5 Stocks Near Buy

Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally suffered further losses last week, with the Nasdaq leading declines as Treasury yields continue to soar.

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What’s your game plan for the coming week? Be cautious about new buys, focusing on leading sectors. Earnings season adds further uncertainty, with Tesla (TSLA) headlining a big week of results.

Expedia (EXPE), Cheniere Energy (LNG), Merck (MRK), Edwards Lifesciences (EW) and Check Point Software (CHKP) are five stocks near buy points from relatively strong areas of the market. EXPE stock is part of the latest travel revival. LNG stock is a leader in the still-hot energy sector. Merck stock and Edwards Lifesciences are part of the healthy medical sector. CHKP stock is a leader in the cybersecurity space, one tech pocket that is holding up.

Tesla stock, for its part, is working on a cup-with-handle buy point, but the chart is messy with earnings just one of the many risks in focus.

Cheniere Energy and Tesla stock are on IBD Leaderboard. Tesla also is on the IBD 50. Check Point was the IBD Stock Of The Day.

The video embedded in the article discusses the week’s market action and analyzes EXPE stock, Cheniere Energy and Check Point Software.

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

U.S. stock markets are closed on April 15 for Good Friday. Stock markets in Europe, Australia and Hong Kong are closed Friday and Monday.

The People’s Bank of China on Friday kept its one-year medium-term loan rate steady at 2.85%. Most economists had expected a cut in this key rate to bolster the economy amid widespread lockdowns.

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 had some big daily and intraday moves in a short week, but the overall trend remains bearish. The Dow Jones Industrial Average sank 0.8% in last week’s stock market trading. The S&P 500 index slumped 2.1%. The Nasdaq composite lost 2.6%. The small-cap Russell 2000 eked out a 0.5% gain.

The 10-year Treasury yield rallied 12 basis points to 2.83%, hitting the highest level since late 2018.

U.S. crude oil futures shot up nearly 9% to $106.95 a barrel last week. The European Union is drawing up plans to ban Russian crude oil, the New York Times reported Thursday, a painful economic step that Germany in particular had resisted. The EU reportedly won’t formally discuss a Russia crude ban until the final round of French presidential voting on April 24. If the EU does go ahead, crude prices could spike higher. The EU is even more reliant on Russian natural gas.

ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) dipped 0.2% last week, while the Innovator…