Dow Jones futures, along with the S&P 500 and Nasdaq 100 futures, fell on Monday night after the stock market record high. Tesla’s shares rose with strong deliveries, while tech giants Alphabet, Facebook and Microsoft are in new buying zones.
X
On Monday, Nasdaq’s heavy compound advanced 1.7%. The S&P 500 was up 1.4%, while the Dow Jones Industrial Average was up 1.1%.
Among Dow Jones leaders, Apple (AAPL) rose 2.4% on Monday, while Microsoft (MSFT) was up 2.8% in today’s stock market. Boeing (BA) left the buying range after last week’s bullish movement.
Tesla (TSLA) rose 4.4% on Monday after the company reported strong deliveries. FANG leaders Alphabet (Google Facebook (FB) surpassed new buying points on Monday.
Among the main actions to be observed, chip leaders Nvidia (NVDA) and Qorvo (QRVO) are in or near purchasing zones.
Alphabet, Boeing and Microsoft are shares of the IBD Leaderboard. Nvidia and Qorvo were featured in this week’s Stocks Near A Buy Zone column. Alphabet and Microsoft were discussed on Monday’s IBD Live program.
Dow Jones Futures Today
After the stock market closed on Monday, Dow Jones futures lost 0.2% against fair value, while S&P 500 futures fell 0.15%. Nasdaq 100 futures lost less than 0.1% against fair value. Remember that trading in Dow Jones futures and elsewhere does not necessarily translate into real trading in the next regular stock market session.
Overview of the US stock market today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 33525.48 | +372.27 | +1.12 |
| S&P 500 | (0S and P5) | 4077.78 | +57.91 | +1.44 |
| Nasdaq | (0NDQC) | 13705.59 | +225.48 | +1.67 |
| Russell 2000 | (IWM) | 224.83 | +1.09 | +0.49 |
| IBD 50 | (FFTY) | 45.00 | +0.39 | +0.87 |
Last updated: 4:54 PM ET 5/4/2021 |
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On Monday, the 10-year Treasury yield closed at 1.72%, just below last week’s 14-month high of 1.765%.
Among the exchange-traded funds, the Innovator IBD 50 (FFTY) was up 0.8% on Monday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) was up 2%. Meanwhile, the SPDR S&P 500 ETF (SPY) gained 1.4%.
Stock market rally: Dow, S&P reach new highs
Amid the current stock market recovery, the Dow Jones Industrial Average and the S&P 500 hit record highs on Monday.
Meanwhile, the high-tech Nasdaq recovered its 50-day moving average on Thursday and overcame resistance around the 13,600 level, extending a winning streak to three sessions.
Thursday’s Big Picture commented: “On Thursday, Nasdaq increased 1.8% after making room for a second consecutive day of solid gains. The compound closed slightly above its 50-day moving average afterwards. to spend two weeks below it. Don’t take this as an absolutely positive sign. It would do Nasdaq some good if it could make a decisive move above that line. In addition, Nasdaq is facing a test of possible resistance around the 13,600 level. “
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Bitcoin Price
Bitcoin reached its maximum on March 13, reaching $ 61,556. Bitcoin’s price remained stable on Monday at around $ 58,250, according to CoinDesk.
The Grayscale Bitcoin Trust (GBTC) jumped 4% on Monday, increasing its recovery from the 50-day moving average.
Dow Jones shares: Boeing
Within the Dow Jones Industrial Average, Boeing moved out of the purchase range above a 244.18 point of purchase on a canopy basis. The 5% buying range rises to 256.39. The stock closed on Monday at 259.36.
The shares rose 2.5% on Monday.
Actions in the shopping areas: alphabet, Facebook
IBD Leaderboard Alphabet’s shares are overtaking the new flat base purchase point at 2,145.24, according to the analysis of the IBD MarketSmith chart. The shares are in the 5% buying zone, which rises to 2,252.50 amid the 4.2% advance on Monday.
According to the Leaderboard comment, “Alphabet held up better than other big companies when the industry plummeted. Support on the 21-day line is now much better. The stock also found support on the 50-day line. The bottom base it was the second stage, which is positive. “
Facebook, another FANG stock leader, is trading just above the 299.81 buying point for a cup with a handle. On Monday, Facebook’s shares rose 3.4% to enter the buying range.
Chip stock to buy and watch: Nvidia, Qorvo
Graphics chip maker Nvidia continues to move to the right side of a new cup base, offering a 615 point of purchase. Look out for a potential identifier to offer a better risk entry.
Nvidia’s shares rose 1.3% on Monday, extending a winning streak to three sessions.
According to the IBD Stock Checkup, Nvidia’s shares show a solid 93 out of a perfect 99 IBD Composite rating. IBD Composite Rating helps investors easily measure the quality of a stock’s fundamental and technical metrics.
Elsewhere in the semiconductor industry, Qorvo is in a buying range after a 191.93 entry into consolidation. The shares are also above an early entry at 186.96 after Friday’s breakdown move. Qorvo’s shares rose 2.8% on Monday.
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Tesla Stock
Tesla’s shares rose 7% on Monday, before slashing earnings to 4.4% after the company’s strong deliveries. Tesla’s shares are eyeing its 10-week line, which is a key resistance level.
Tesla could be forming a new base, but it is too early for a new ideal risk buying point.
On February 22, Tesla broke its 10-week moving average mainline, a critical support level. On January 25, Tesla’s shares reached a record high of 900.40, after climbing up to 93% from a 466 point of purchase in a glass with handle.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones’ top stocks, Apple rose 2.4% on Monday, taking a winning streak to three sessions. Apple’s stock is recovering from its 40-week line and may soon be looking to recover its 10-week line.
On February 18, Apple shares triggered the 7% -8% loss-of-sale rule when they fell more than 7% below its 138.89 point of purchase in a glass with cable.
Meanwhile, software giant Microsoft rose 2.8% on Monday. Microsoft is overtaking the 246.23 flat base purchase point and is within the purchase range.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
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