Dow Jones futures edged higher late Wednesday, along with S&P 500 futures and Nasdaq futures. The stock market rally had a quietly strong day. The major indexes closed with slim gains Wednesday. But there were several breakouts, while EV stocks such as Nio (Nio) and Tesla (Tesla) powered higher, and small caps and growth names outperformed overall. Meanwhile, Bitcoin surged yet again to a fresh high.
Visa (V) broke out of a base, with archrival Mastercard (MA) tripping some buy signals. Taiwan Semiconductor (TSM), copper miner Freeport McMoRan (FCX) and China e-commerce play Vipshop (VIPS) cleared three-weeks-tight patterns, on a good day for chipmakers, cyclical stocks and Chinese internet plays, respectively. Walt Disney (DIS) popped out of a short consolidation.
Meanwhile, Nio stock is still in buy range from a 10-week line rebound and other bullish signals. While 2020 IPOs Li Auto (LI) and Xpeng Motors (XPEV) face big tests, BYD Co. (BYDDF) is setting up in a short consolidation as Tesla stock rallied to a record high. All may get a sales boost from Shanghai extending a license plate policy that encourages EV sales.
Finally, tech giants lagged somewhat after big gains Monday. Apple stock and Microsoft (MSFT) pulled back. But that could be a positive pause if they form handles.
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Tesla, Apple, Microsoft and TSM stock are on IBD Leaderboard. FCX stock is on SwingTrader. Microsoft and Mastercard stock are on IBD Long-Term Leaders, while Visa stock essentially is a Long-Term Leader. Taiwan Semi and VIPS stocks are on the IBD 50. Tesla stock and FCX are on the IBD Big Cap 20.
Microsoft stock, Apple, Visa and Disney are all Dow Jones components.
Dow Jones Futures Today
Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures and Nasdaq 100 futures climbed 0.1%.
Bitcoin price briefly ran above $29,000 late Wednesday before pulling back.
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 cases worldwide reached 83.06 million. Covid-19 deaths topped 1.81 million.
Coronavirus cases in the U.S. have hit 20.21 million, with deaths above 350,000.
The U.K. approved the AstraZeneca coronavirus vaccine on Wednesday. The AstraZeneca (AZN) and Oxford vaccine is faster and easier to make than the Pfizer/BioNTech (BNTX) and Moderna vaccines, as well as being easier to store. So it’ll be a major player in vaccinations, especially in developing nations.
A few batches of the Moderna (MRNA) coronavirus vaccine arrived in Texas last week outside of the proper temperature range. The Pfizer (PFE) vaccine, meanwhile, requires ultracold storage.
Stock Market Rally
The stock market rally had slim gains for the major indexes, but small caps and growth names did well.
The Dow Jones…
Read more:Dow Jones Futures: Tesla, Nio, Bitcoin Jump In Quietly Bullish Stock Market Rally;