Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures, with Bitcoin surging ahead of the launch of a Bitcoin futures ETF. The stock market rally had a powerful week, moving back into a confirmed rally.
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That’s a green light to investors to ramp up exposure again, but watch your speed and don’t get distracted.
Dow Jones giants Microsoft (MSFT) and Goldman Sachs (GS) offer early entries now. So does Tesla (TSLA) rival Xpeng (XPEV), with other Chinese EV makers rallying and TSLA stock continuing its steady ascent. Expedia (EXPE) is just below a breakout while Old Dominion Freight Line (ODFL) is flirting with a traditional buy point.
Bitcoin ETF Launching
Meanwhile, Bitcoin surged above $62,000 on Friday, extending a huge run for the past several weeks. The Bitcoin price is currently modestly above $61,000.
ProShares indicated in a late Friday filing that its Bitcoin futures ETF will begin trading next week.
The Securities and Exchange Commission hasn’t formally approved the ProShares Bitcoin futures ETF. It may never officially do so. But it can begin trading after Monday if the SEC doesn’t object. It’ll be thirst of what will likely be several Bitcoin futures ETFs, bringing the cryptocurrency even closer to ordinary investors. Earlier this month, SEC Chairman Gary Gensler made it clear he was not considering a China-like ban on Bitcoin and other cryptocurrencies.
In addition to Bitcoin, Ethereum and other cryptocurrencies have rebounded. So have Bitcoin-related stocks, such as Marathon Digital Holdings (MARA), Coindesk (COIN) and Grayscale Bitcoin Trust (GBTC). Tesla still has Bitcoin holdings as well.
MARA stock surged 24% to 48.89 last week after a 19% spike in the prior week. On Friday, Marathon sprinted past its early September short-term high of 44.97. GBTC stock leapt 12% last week. COIN stock leapt 13%, breaking a trend line Friday after rebounding from its 50-day line on the day before.
Microsoft and Tesla stock are on IBD Leaderboard. Goldman stock is on SwingTrader. MSFT stock is on IBD Long-Term Leaders. Expedia was Friday’s IBD Stock Of The Day.
The video embedded in this article reviewed the weekly market action and analyzed Goldman, Expedia and ODFL stock.
Dow Jones Futures Today
Dow Jones futures will open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
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
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Stock Market Rally
The stock market rally looked sickly to start the week but roared higher.
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