Dow Jones futures rose modestly Thursday night, along with S&P 500 futures and Nasdaq futures. The stock market rally was mixed, but growth names generally improved after pulling back in the prior couple of days.
X
Rivian Automotive (RIVN) jumped after Wednesday’s strong Rivian IPO debut. Several other EV and auto plays had strong gains Thursday, with Xpeng (XPEV) approaching a buy point and General Motors (GM) definitively breaking out. Tesla (TSLA) edged lower, as it digests Elon Musk’s initial TSLA stock sales, but held above a key level.
Meanwhile, beware buying hot trendy stocks that look like bargains. Upstart Holdings (UPST) has had a monster run in 2021, but gapped down Wednesday following earnings. UPST came off opening lows that day, but fell back toward them on Thursday.
Overall, it’s a good to time sit on — not out — the market rally. Don’t feel compelled to trade.
Tesla stock is on IBD Leaderboard and the IBD 50.
The video embedded in this article reviews Thursday’s market action and analyzes Freeport-McMoRan (FCX), the Invesco Solar ETF (TAN) and ZipRecruiter (ZIP).
Dow Jones Futures Today
Dow Jones futures rose 0.25% vs. fair value. S&P 500 futures advanced 0.2% and Nasdaq 100 futures climbed 0.3%.
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 a mixed session, but with little movement during the day.
The Dow Jones Industrial Average fell 0.4% in Thursday’s stock market trading, but a lot of that reflected the Disney (DIS) sell-off. The S&P 500 index rose less than 0.1%. The Nasdaq composite advanced 0.5%. The small-cap Russell 2000 climbed 0.8%.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) popped 2.2% after tumbling Wednesday. The Innovator IBD Breakout Opportunities ETF (BOUT) climbed 1.2%. The iShares Expanded Tech-Software Sector ETF (IGV) edged up 0.5%. The VanEck Vectors Semiconductor ETF (SMH) rose 1.8%.
SPDR S&P Metals & Mining ETF (XME) popped 4.3% and Global X U.S. Infrastructure Development ETF (PAVE) inched 0.35% higher. U.S. Global Jets ETF (JETS) descended 0.7%. SPDR S&P Homebuilders ETF (XHB) gained 0.5%. The Energy Select SPDR ETF (XLE) rose 0.4% and the Financial Select SPDR ETF (XLF) climbed 0.3%.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) rebounded 0.7% and ARK Genomics ETF (ARKG) was flat. Tesla stock remains the No. 1 holding across ARK Invest’s ETFs.
Five Best Chinese Stocks To Watch Now
EV Stocks
Rivian stock jumped 22% to 122.99 on Thursday. In Wednesday’s Nasdaq debut, RIVN stock revved 29% higher to 100.73 after pricing the IPO at 78 a share, above the expected range. While Rivian stock is acting well, investors shouldn’t buy a new issue right away. Let some price discovery take place, and look for an IPO base to…
Read More: Dow Jones Futures: Rivian Revs Higher As EV Stocks Shine; Time To Sit