Before the opening on Monday, with the surge in coronavirus cases, Dow Jones futures jumped more than 275 points, after which it took back its gains as the current stock market continued to correct. S&P 500 futures and Nasdaq futures also rose on Monday. Boeing shares with Dow Jones shares rose 5%, while Facebook fell more than 3%.
Blue chip apple (AAPL) and Microsoft (MSFT) was higher before today’s stock market opened. Dow Jones stock Boeing (BA) Soaring on the 737 Max jet news. Nike After the sell-off on Friday, the Dow Jones Industrial Average (NKE) rose by about 0.3%. Stocks worth watching on Monday include IBD leaderboard stocks Facebook (FB) and Netflix (NFLX). Coronavirus Therapeutic Apparatus Gilead Sciences (GILD) and IBD SwingTrader stock Spotify (SPOT) is one of the stocks that rose in pre-market trading.
DJIA Today: Coronavirus cases surge
Before the stock market opened on Monday, Dow Jones futures rose 0.9% relative to fair value, while S&P 500 futures rose 0.7%. Nasdaq 100 futures rose 0.2% from fair value.
Overview of the US stock market today
Last update: June 26, 2020 at 5:30 pm EST
Coronavirus outbreaks continue to spread throughout the United States. According to the Worldometer data tracker, the cumulative number of confirmed cases in the United States exceeded 2.6 million over the weekend. Last Friday, there were more than 47,000 new cases per day, a single-day high. On Sunday, new cases each day rose by more than 40,000 for the fourth consecutive day. However, although the number of new cases continues to increase every day, the number of daily deaths has not increased accordingly, which is a key indicator that needs to be monitored.
Since the global outbreak, the cumulative total of confirmed Covid-19 cases has exceeded 10 million over the weekend, including 500,000 virus-related deaths.
In the rise of the coronavirus stock market, the high-tech Nasdaq index rose 8.7% in the year ending Friday. At the same time, as of June 25, the S&P 500 index and the Dow Jones Industrial Average fell 6.9% and 12.3% so far this year.
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Coronavirus stock market rebound
According to IBD’s “Big Picture”, the coronavirus stock market is still in an upward trend after rebounding from a low of three months ago on March 23. The major stock indexes confirmed that the rebound was a new upward trend on April 2.
According to the big picture on Friday, “In the past week, a large number of new coronavirus cases, mainly in southern and southwestern states, have made headlines. Friday’s stock market decline once again showed that the world’s largest economy hardly showed immunity to the largest economy for decades. “
Notable stocks include top stocks among IBD’s long-term leaders. The IBD long-term leader list focuses on companies with stable revenue growth and price performance.
Stock market ETF strategies and how to invest in the current upward trend
Dow Jones News: Boeing, Nike
Boeing’s stock hopes to make up for four consecutive days of decline earlier on Monday. The stock price soared more than 5% before opening. On Sunday, Boeing obtained permission from the Federal Aviation Administration (FAA) to begin a test flight of its 737 Max jet. The test flight may begin as early as Monday.
After falling for three consecutive weeks, the stock has fallen about 55% from its 52-week high.
Nike, the Dow Jones retail leader, rose slightly before the stock market opened on Monday and became the focus after Friday’s decline. After the company posted an unexpected quarterly loss, the stock fell 7.6% on Friday and closed just below the 50-day moving average. Sales also failed to meet analyst goals.
According to MarketSmith’s chart analysis, Nike stock is still forming a cup with a handle at a bid price of 104.79.
Dynamic stocks: Gilead, Spotify
Coronavirus manufacturer Gilead Sciences (Gilead Sciences) rose 3% in pre-market transactions after announcing its pricing plan for remdesivir drugs. The company said that a typical American commercial insurance patient will cost $3,120 and will start charging for the drug in July. As the base of 86.07 buying points continues to form, the stock attempts to return above its 50 antenna.
After Guggenheim lowered its stock rating from “neutral” to “sell”, IBD SwingTrader stock Spotify fell 1.5%.
According to MarketSmith’s chart analysis, Spotify’s stock has expanded dramatically from the double bottom of the 160.08 buying point.
Notable stocks: Facebook, Netflix
Last Friday, Facebook shares plunged 8.3%. Unilever (UN) said it would stop advertising on Facebook and Instagram. According to the company’s statement, “Continuing advertising on these platforms will not add value to people and society. We will continue to monitor and reconsider the current situation if necessary.”
Since June 23, the IBD ranking stocks have basically given up 13.8% of the purchase points of handle cups bought from 215.38 after the breakthrough on May 19. When the stock’s round-trip increase reaches double digits, investors should consider selling to avoid losing stocks.
Earlier on Monday, Facebook shares fell another 3%. Pepsi (PEP), Hershey’s (HSY) and Starbucks (SBUX) joined the Facebook ad boycott over the weekend.
FANG members and IBD leaderboard stock Netflix fell flat at 459.07 points on Friday after falling nearly 5%. Please note this week’s 50-day moving average test. A sharp break through this support level will be a sell signal. The stock closed Friday at about 2% above the 50 antenna.
According to the IBD leaderboard review, “Netflix is below the buy point and its 10-day moving average. On June 22, Netflix rose to its full position.”
According to data from IBD Stock Checkup, Netflix’s stock has 98 points in the highest possible 99 IBD comprehensive rating, ranking higher in growth stocks. Comprehensive rating-an easy way to identify the fastest-growing stocks-is a combination of key fundamentals and technical indicators that can help investors evaluate the advantages of stocks.
Dow Jones leaders: Apple, Microsoft
Among Dow Jones’ top stocks, Apple’s stock price rose slightly in early trading Monday as the stock continued to fall from the record high set on June 23.
The stock price has broken the 319.79 buy point of the handle, which provides an additional entry. Admission provides investors with an opportunity to increase their positions. At the same time, the stock price is still in the profit range of 20.25%-25%, starting from the 288.35 buy point with a handle.
Microsoft’s software leader started to get busy on Monday morning. The stock price once again returned above the buying range, which is the 187.61 buying point with the same handle. The 5% buying range rose to 197.
Bullish, despite the current correction, the stock’s RS line is still at a new high. The RS line measures the price performance of the stock relative to the broader market.
The blue chip giant is a long-term leader in stock creativity and IBD in the IBD rankings.
Make sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen More information about growth stocks and the Dow Jones Industrial Average.
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