Dow Jones futures rallied 100 points late Monday. The stock market bounced after Friday’s omicron Covid-19 sell-off, as President Joe Biden ruled out new lockdowns. Electric-vehicle stocks Li Auto, Lucid Motors, Rivian and Tesla raced higher Monday.
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On Monday, the Dow Jones Industrial Average moved up 0.7%. The S&P 500 rose 1.3%, while the Nasdaq led the way, rising 1.9%. Crude oil prices rose over 2%. Bitcoin surged 7%. And the 10-year Treasury yield climbed to 1.53%.
Among the Dow Jones leaders, Apple (AAPL) traded up 2.2%, while Microsoft (MSFT) moved up 2.1% in today’s stock market. Nike (NKE) remains below a recent buy point despite a 1.1% gain Monday.
Electric-vehicle leader Tesla (TSLA) rallied 5.1% Monday. EV peer Rivian (RIVN) surged nearly 7%, while Lucid Motors (LCID) gained 6.5%. Chinese EV leader Li Auto (LI) bolted higher after delivering earnings, while Xpeng Motors (XPEV) edged higher.
Among the top stocks to buy and watch, Nucor (NUE), Pioneer Natural Resources (PXD), Pfizer (PFE) and Zim Integrated Shipping (ZIM) are near new buy zones.
Microsoft, Nucor and Tesla are IBD Leaderboard stocks. Apple was featured in this week’s Stocks Near A Buy Zone story. And Zim was spotlighted in last week’s IPO Leaders story.
Dow Jones Futures Today: Biden Comments On Omicron; Powell, Yellen On Deck
After the stock market close Monday, Dow Jones futures rose 0.3% vs. fair value, while S&P 500 futures gained 0.2%. Nasdaq 100 futures moved up 0.2% vs. fair value. 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) moved up 1.6% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 2.2%. And the SPDR S&P 500 ETF (SPY) ascended 1.2%.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 35135.78 | +236.44 | +0.68 |
| S&P 500 | (0S&P5) | 4654.86 | +60.24 | +1.31 |
| Nasdaq | (0NDQC ) | 15782.83 | +291.17 | +1.88 |
| Russell 2000 | (IWM) | 222.67 | -0.18 | -0.08 |
| IBD 50 | (FFTY) | 48.48 | +0.78 | +1.64 |
Last Update: 4:38 PM ET 11/29/2021 |
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Midday Monday, President Biden said in a news conference that he doesn’t expect the U.S. to impose additional travel restrictions to slow the spread of the omicron variant. “The degree of the spread impacts on whether or not there’s a need for any travel restrictions. But I don’t anticipate that at this point,” Biden said. He added that lockdowns are off the table “for now.”
Early Tuesday, Treasury Secretary Janet Yellen and Federal Reserve chief Jerome Powell will testify before a Senate Committee in a hearing titled, “CARES Act Oversight of Treasury and the Federal Reserve: Building a Resilient Economy.”
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Stock Market Rally
The stock market snapped back from Friday’s sell-off, as the major stock indexes closed with sharp gains Monday.
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