Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market plunged to fresh lows last week but then rebounded powerfully, with Russia’s ongoing Ukraine invasion still front and center.
X
The market is in a correction, with the Nasdaq briefly reaching the 20% down bear threshold. But a new market rally attempt is underway. Investors should still be cautious until there’s a confirmed uptrend, but they should be building up their watchlists.
Apple stock, Microsoft (MSFT), Regeneron Pharmaceuticals (REGN), J.B. Hunt Transportation (JBHT) and Arista Networks (ANET) are not in buy range right now. But Apple (AAPL) and these other names are setting up close to buy points and could be actionable if the rally attempt builds momentum.
Meanwhile Tesla (TSLA) rebounded from a six-month low of 700 intraday Thursday. But Tesla stock still fell 5.5% to 809.87 for the week, ending below its 200-day line. Getting above that 200-day line is critical for the EV giant. But TSLA stock is a long way from having even an early entry.
Tesla stock and Microsoft are on IBD Leaderboard. Microsoft stock also is on IBD Long-Term Leaders.
Dow Jones Futures Today
Dow Jones futures 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
Coronavirus News
Coronavirus cases worldwide reached 433.29 million. Covid-19 deaths topped 5.95 million.
Coronavirus cases in the U.S. have hit 80.53 million, with deaths above 972,000.
Stock Market Rally
The stock market rally bounced back late in the week after tumbling to multimonth lows.
The Dow Jones Industrial Average edged down 0.1% in last week’s stock market trading. The S&P 500 index rose 0.8%. The Nasdaq composite climbed 1.1%. The small-cap Russell 2000 gained 1.5%.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) advanced 1.1% last week, while the Innovator IBD Breakout Opportunities ETF (BOUT) edged up 0.3%. The iShares Expanded Tech-Software Sector ETF (IGV) jumped 3.4%, with MSFT stock a major SMH component. The VanEck Vectors Semiconductor ETF (SMH) climbed 2%.
SPDR S&P Metals & Mining ETF (XME) leapt 4.8% last week, hitting a new high. The Global X U.S. Infrastructure Development ETF (PAVE) rose 0.7%. U.S. Global Jets ETF (JETS) closed up 0.7%. SPDR S&P Homebuilders ETF (XHB) dipped 0.3%. The Energy Select SPDR ETF (XLE) rose 1.2% and the Financial Select SPDR ETF (XLF) edged down 0.3%. The Health Care Select Sector SPDR Fund (XLV) popped 2.7%.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) rebounded 4.7% last week and ARK Genomics ETF (ARKG) 4.5%. Both hit 20-month lows during the week. Tesla stock remains the No. 1 holding across Ark Invest’s ETFs.
Read More: Dow Jones Futures: Market Rally Continues Amid Russia’s Ukraine