Dow Jones futures will open Sunday evening along with S&P 500 futures and Nasdaq futures. The stock market rally pulled back last week, but the major indexes ultimately closed with slim losses despite growth-led retreats mid-week.
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Tesla stock, Nvidia (Nvidia), ASML (ASML), Xpeng (XPEV) and Shopify (SHOP) are five stocks to watch in the coming week. Tesla action is worth reviewing, with the chart suggesting possible support for bulls after a sharp sell-off in the past week. Nvidia earnings are due Wednesday night, with shares starting to pause after a huge run.
Meanwhile, ASML, Xpeng and SHOP stock are all arguably in buy areas. And they all have peers that are faring well.
Shopify stock is making its move as Etsy (ETSY) has already surged, despite its own declining earnings. Amazon.com (AMZN) is approaching possible buy points.
ASML stock is just below an official buy point, while Applied Materials (AMAT) and several other chip-gear makers have already broken out in the past few weeks.
Xpeng peers Li Auto (LI) and Nio (NIO) are near early entries. Meanwhile, Tesla stock has been hot, despite the past week, while Rivian (RIVN) is rolling after a huge IPO. Ford Motor (F), General Motors (GM) and now Toyota (TM) have all broken out as production ramps back up as chip supplies slowly improve.
The Rivian IPO, in particular is off to a great start, and is worth keep an eye on for a possible IPO base down the line. In the very short run, Lucid Motors (LCID) earnings on Monday night could be key for Rivian stock, given that both LCID stock and RIVN are richly valued EV makers that have just started deliveries.
Tesla and Nvidia stock are on IBD Leaderboard. ASML stock is an IBD Long-Term Leader. Tesla stock, Nvidia and ASML are on the IBD 50.
Dow Jones Futures Today
Dow Jones futures will begin trading at 6 p.m. ET, 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
Coronavirus News
Coronavirus cases worldwide reached 253.09 million. Covid-19 deaths topped 5.1 million.
Coronavirus cases in the U.S. have hit 47.76 million, with deaths above 782,000.
U.S. Covid cases are starting to pick up, as temperatures drop and people spend more time indoors. Cases have been picking up worldwide, with record infections in Germany. But with vaccinations widespread, deaths continue to slide.
Stock Market Rally
The stock market rally suffered some notable losses by Wednesday but finished the past week well off lows.
The Dow Jones Industrial Average lost 0.6% in last week’s stock market trading. The S&P 500 index dipped 0.3%. The Nasdaq composite retreated 0.7%. The small-cap Russell 2000 gave up about 1%.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) sank 0.9% last week, while the Innovator IBD Breakout…
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