Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were slightly higher late Monday, as the price of Bitcoin plunged before slashing losses. Apple stock is approaching a new buy point, while Nio surged to new highs. Tesla dived amid a potential climax top.
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The stock market rally fell from record highs Monday amid moderate declines in the major stock indexes. The Dow Jones Industrial Average eased 0.3%, or 89 points, while the S&P 500 slid 0.7%. The tech-heavy Nasdaq composite declined 1.25%.
Among the Dow Jones leaders, Apple (AAPL) sold off 2.3%, while Microsoft (MSFT) lost 1%. Meanwhile, Amazon.com (AMZN), Facebook (FB) and Twitter (TWTR) all fell sharply. Amazon stock declined 2.15%. Facebook dropped 4% and Twitter tumbled 6.4%.
However, chip giants Advanced Micro Devices (AMD) and Nvidia (NVDA) advanced 2.8% and 2.6%, respectively. AMD hit a new high, while Nvidia is approaching a new buy point, according to IBD MarketSmith chart analysis.
Tesla (TSLA) dived nearly 8%, as it flashes several signs of a potential climax top. Chinese rival Nio (NIO) surged 6.4% to hit record highs after unveiling its new sedan at its Annual Nio Day.
Stocks in or near buy zones in the current stock market rally are Chipotle Mexican Grill (CMG), Lululemon (LULU) and Tractor Supply (TSCO).
Apple, Chipotle, Microsoft and Tesla are IBD Leaderboard stocks. Lululemon and Tractor Supply were featured in this week’s Stocks Near A Buy Zone.
Dow Jones Futures Today
Late Monday, Dow Jones futures and S&P 500 futures traded up 0.1% vs. fair value. Nasdaq 100 futures moved up 0.25%. 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) rallied 1% Monday. The Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) traded down 1.45%. Meanwhile, the SPDR S&P 500 ETF (SPY) descended 0.7%.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 31008.69 | -89.28 | -0.29 |
| S&P 500 | (0S&P5) | 3799.61 | -25.07 | -0.66 |
| Nasdaq | (0NDQC ) | 13036.43 | -165.55 | -1.25 |
| Russell 2000 | (IWM) | 207.55 | -0.17 | -0.08 |
| IBD 50 | (FFTY) | 43.35 | +0.42 | +0.98 |
Last Update: 4:26 PM ET 1/11/2021 |
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Coronavirus Updates
According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 22.9 million on Monday. Total virus-related deaths rose past 383,000.
The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 90.9 million Monday, with more than 1.9 million virus-related deaths.
Coronavirus Stock Market Rally
Looking back at the current uptrend, November was a key month for the stock market. IBD’s The Big Picture flagged the new uptrend following the market’s bullish follow-through day on Nov. 4. Meanwhile, 2021 sees stocks just off their record highs.
Friday’s Big Picture commented, “The Nasdaq led Friday’s action…
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