Dow Jones futures rose Monday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally finished last week little changed amid earnings from Apple stock, Tesla (TSLA) and hundreds more. It was a tough week for buying stocks.
But it was a constructive week for many stocks.
Five Stocks Near Buy Points
Apple, Nvidia, Idexx Labs and Tesla stock retreated last week, but may come out the better for it. Cloudflare stock did post a weekly gain, but had a healthy pullback later in the week.
Apple stock and Tesla had earnings last week, while Idexx and NET stock are on tap this week. Nvidia earnings are a few weeks away.
Meanwhile, German media reported that the Tesla Berlin plant won’t begin production until 2022. That Berlin factory is a key pillar in Tesla’s growth strategy.
Tesla Rivals Report Sales
Meanwhile, Tesla rival Nio (NIO) reported April sales on Saturday, with Xpeng Motors (XPEV) and Li Auto (LI) out on Sunday. Byd Co. (BYDDF) is expect to release April sales in the next few days. These EV startups face increasing competition from Tesla, one another and traditional automakers such as Volkswagen (VWAGY), as well as the chip shortage crippling automakers worldwide.
It’ll also be interesting to see if Tesla suffers lost China sales from customer complaints, widely discussed by state media in recent weeks.
Dow Jones Futures Today
Dow Jones futures rose 0.65% vs. fair value. S&P 500 futures advanced 0.6% and Nasdaq 100 futures climbed 0.3%.
Coronavirus cases worldwide reached 153.57 million. Covid-19 deaths topped 3.21 million.
Coronavirus cases in the U.S. have hit 33.18 million, with deaths above 591,000.
Stock Market Rally
The stock market rally started last week strong and ended on a low note, but ultimately didn’t move that much.
The Dow Jones Industrial Average sank 0.5% in last week’s stock market trading. The S&P 500 index edged up 0.1%. The Nasdaq composite and Russell 2000 retreated 0.4%.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 0.15%, including a 3.3% drop from Tuesday’s intraday high. The Innovator IBD Breakout Opportunities ETF (BOUT) retreated 1.35%. The iShares Expanded Tech-Software Sector ETF (IGV) retreated 1.9%. The VanEck Vectors Semiconductor ETF (SMH) tumbled 2.5%.
Read More: www.investors.com