Dow Jones futures will begin trading on Sunday night, and S&P 500 futures and Nasdaq futures will also begin trading. The stock market rebound last week showed strong action, the S&P 500 index hit a new high, and the Nasdaq index returned to some key areas.
Although the fixed income market will be active, Friday’s employment report will be released with the stock market closed. Tesla (TSLA) Delivery data is also expected to be reflected in the long weekend.
Google parents letter (GOOGL), Microsoft (MSFT), apple (AAPL) iPhone supplier Qorvo (QRVO) and Diamond Back Energy (FANG) New buying points were refreshed on Thursday. Google stock and Microsoft reflect the bullish action among the tech giants. Qorvo’s stock is the latest master. Due to rising crude oil prices, Cainiao stock is one of many promising oil companies.
The breakthrough is one of many reasons for more optimism about the stock market’s rise. The S&P 500 index broke through 4,000 for the first time, and the Nasdaq and Russell 2000 indexes returned to their 50-day index line. The Nasdaq market still has its final test before investors can feel that the divided market is turning into a broad market rebound.
Google Stock and Microsoft are on the IBD rankings. Both Google and FANG stocks are on SwingTrader. MSFT stock is the long-term leader of IBD. Tesla shares are on the IBD 50. Google and Qorvo shares are on the IBD Big Cap 20.
Big picture: As market sentiment improves, Nasdaq soars
The Department of Labor will release its March employment report at 8:30 am Eastern Time. Economists predict that the number of non-agricultural employment will increase by 625,000. The hiring boom stimulated by loose restrictions on the coronavirus and multiple stimulus plans is expected to continue for several months, so it will rise. Wall Street expects the unemployment rate to fall from 6.2% to 6%.
Analysts expect Tesla to deliver 163,000 vehicles in the first quarter, some of which are estimated to be cut just before the release of Tesla’s report. The report may be released on Friday or as late as Monday.
The Tesla Model Y went on sale in China in January.According to reports, sales of Model Y cars in the United States are strong
However, the latest Tesla models are competing for the market. Ford (F) 6,614 Mach-E crossovers were sold in the United States last quarter, and almost all activities took place in February and March. Volkswagen (VWAGY) began selling its cheaper ID.4 crossover in the United States in late March.
The Volkswagen ID.4 also began to be delivered in China at the end of last month. Ford Mach-E has begun production in China.
Biden’s infrastructure plan calls for the expansion of credit lines for electric vehicles and a vigorous expansion of charging stations. Tesla has reached the upper limit of federal tax credits, and may therefore become a big winner. But it can take months to get approval and take effect.
Tesla shares rose 7% to 661.75 last week. But on Thursday, the stock fell 0.9%, falling below the 21-day exponential moving average.
At the same time, Tesla’s competitors in China o (NIO) and Xpeng (XPEV) reported strong deliveries in March on Thursday. Lee Motors (LI) Expires in the next few days. NIO shares rose 1.7% on Thursday, while Xiaopeng Motors rose 1.2%, Rio Tinto Motors rose 1%, and all stocks were close to intraday lows.
Dow Jones Futures Today
Dow Jones futures will open together with S&P 500 futures and Nasdaq 100 futures at 6 pm Eastern Time.
Keep in mind that overnight trading in Dow Jones Index futures and elsewhere will not necessarily translate into actual trading in the next regular stock market session.
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Global coronavirus cases reached 130.13 million. The death toll from Covid-19 exceeds 2.83 million.
In the United States, the number of coronavirus cases has reached 31.23 million, and the death toll has exceeded 566,000.
The stock market rebounded last week
The stock market’s gains improved significantly, the Russell 2000 Index and the Nasdaq Index rose, and the S&P 500 index exceeded 4,000 for the first time.
The Dow Jones Industrial Average edged up by 0.25% in stock trading last week, maintaining a near record high. The Standard & Poor’s 500 Index climbed 1.1%, setting a new high. The Nasdaq Composite Index rose 2.6%. The Russell 2000 Index rose 1.5%.
The 10-year U.S. Treasury bond yield reached a pandemic high of 1.77% in a week, but then fell on Thursday to close at 1.676%. In recent weeks, the rise in U.S. Treasury yields has put pressure on Nasdaq and growth stocks.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose by 1.9% last week, while the Innovator IBD Breakthrough Opportunity ETF (BOUT) rose slightly by 0.1%. iShares’ expanded technology software industry ETF (IGV) rose 3.3%, and Microsoft ranked first. The VanEck Vectors Semiconductor ETF (SMH) rose 4.7%, with Qorvo stock and many other stocks driving the strong gains.
The SPDR Standard & Poor’s Metals and Mining ETF (XME) rose 1.25%, and the Global X US Infrastructure Development ETF (PAVE) rose 1.1%. The US Global Jet ETF (JETS) rose 1.4%.
Reflecting more speculative story stocks, ARK Innovation ETF (ARKK) rose 6%, and ARK Genomics ETF (ARKG) rose 5.8%. But both cut Thursday’s gains and closed below the 21st line. Tesla stock is the largest holding of ARK Invest ETF.
Read The Big Picture every day to keep up with the market direction and leading stocks and industries.
Qorvo shares rose 5.6% on Thursday to 192.90, clearing the 185.96 entry point and setting a new high. The buy zone runs to 195.15. 5G and Apple iPhone are among several chip stocks that have emerged in recent days.
Apple shares rose 1.5% last week, found support above the 200-day line, and recovered 21 days. But it is still well below its 50-day line.
Microsoft shares rose 2.8% on Thursday to 242.35, rebounding from its 21-day and 10-week bullish line, and finally closed above 240. Investors can buy MSFT shares here. The benchmark price of the Dow Jones tech giants was flat at 246.23.
Google stock flashing buy signal
Google shares rose 3.3% on Thursday to 2,129.78 points, with a weekly increase limit of 5.2%. The internet giant rebounded from its 10-week line and regained its 21 antenna, then cleared the downtrend and entered the market with a three-week tightening near 3,114. On Thursday, GOOGL stock also hit a record high. Therefore, there are already multiple buying opportunities.
According to MarketSmith’s analysis, the official benchmark buy point for Alphabet stock is 2,145.24 points.
“Letters” is this week’s “New America” feature.
Diamondback Stock’s stock is bullish
Diamondbacks stock rose by 10.5% to 81.22 on Thursday, becoming the best performing stock in the S&P 500 index that day. The bullish rebound from the 10-week line also recovered the 21-day line and broke the downtrend. This provides multiple buying signals. FANG stock was 12% above its 10-week line at the end of the week, so it is constantly expanding. However, with the 10-week line rising next week, FANG stock may look better.
FANG stock is IBD today’s stock on Thursday.
Market rebound analysis
The stock market has had an encouraging week. The S&P 500 index hit a new high, reflecting the continuous expansion of the market. The Dow Jones Index is hovering at record levels. The Russell 2000 Index has returned to above its 50-day and 21-day moving averages after a weak performance in the past few weeks.
Nasdaq rebounded above its 21 days on Wednesday, which can be said to be a follow-up trading day. On Thursday, the technology index weighed above its 50 antenna. The final test is breaking its short-term March high. The large Nasdaq 100 index, which owns major stocks such as Apple, Google, and Microsoft, regained its 50-day trading day and its peak in March.
After several weeks of difficult trading, many stocks have plummeted and stagnated. The chip industry has emerged, and technology giants like Microsoft and Google are stepping up. At the same time, many oil names look strong. Despite the drop on Thursday, some steel names emerged last week. From builders to house renovations to furnishings, the entire real estate sector is developing healthily. After healthy growth, travel stocks are consolidating.
One market segment remains weak: high-value growth including Tesla stock. Although there have been a few bounces this week, most are well below its 50 antenna, and usually below its 21 antenna. They may need long periods of rest, and some may take years to recover, if any. The stock market is hopeful, so don’t look back at the old winners. Wait for them to form a bullish foundation and prove themselves again.
In the past week, investors should have increased. During the breakout period, the main indicators look healthier. Don’t feel the need to rush for success. Let the market attract you.
The leading stocks you own or follow have a certain diversity. Focus on the best stocks, but make sure you have names from various groups. This will remind you to be bullish about the trend of a particular group or sector, while limiting the risk of you being sold by a particular group. In other cases, don’t buy all the chip stocks that burst.
There is always an exit strategy. As the stock market rises at a critical moment and is still prone to large fluctuations, you must make a plan to withdraw from the stock.
Please follow Ed Carson on Twitter via @IBD_ECarson on Twitter for stock market updates and other information.
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