Skip to content
I LPO TEA

I LPO TEA

Business is for Kids

Primary Menu
  • Commodity Investing
  • Dow Jones Industrial
  • Business News
  • Commodities
  • Invest Today
  • Financial
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Dow Jones Futures: Market Rally Bends But Doesn’t Break; Big Week For Tesla, EV Rival
  • Dow Jones Industrial

Dow Jones Futures: Market Rally Bends But Doesn’t Break; Big Week For Tesla, EV Rival

By Stahlman 8 months ago

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally fell last week, but the major indexes slashed losses by Friday’s close, with the Nasdaq once again facing a big hurdle. —




X



Dow Jones component UnitedHealth (UNH) soared into a buy zone Friday on strong earnings, propelling other health insurers past buy points, including Centene (CNC) and Humana (HUM). Option Care Health (OPCH) and Shockwave Medical (SWAV) also jumped into buy areas.

It’s a big week for EV giants Tesla (TSLA) and China’s BYD (BYDDF). Tesla earnings are due Wednesday night, with investors looking to see how the automaker weathered Covid shutdowns and other headwinds last quarter. BYD, which announced booming preliminary first-half earnings this past week, will begin sales of the Seal sedan, a Model 3 rival, on Monday. Both Tesla stock and BYD fell significantly last week, and need time to repair.

Chip stocks are nowhere near being actionable. But they are showing some signs of strength amid a long, painful downtrend. That’s a positive sign for a sustained market rally.

UNH stock is on IBD Leaderboard. UnitedHealth and CNC stock are on the IBD 50. HUM stock is on the IBD Big Cap 20. Option Care Health was Friday’s IBD Stock Of The Day. The video embedded in the article discussed the market action and analyzed UnitedHealth, Option Health Care and SWAV stock.

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

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


Stock Market Rally

The stock market rally fell for most of the week, but recovered most of its losses by the end.

The Dow Jones Industrial Average dipped 0.2% in last week’s stock market trading. The S&P 500 index sank 0.9%. The Nasdaq composite retreated 1.7%. The small-cap Russell 2000 fell 1.4%

The 10-year Treasury yield tumbled 17 basis points to 2.93%. The two-year Treasury yield rose 5 basis points to 3.12%. The inverted Treasury yield curve from the two-year to 10-year is a recession warning, but it’s a little less inverted than mid-week. The 1-year yield, which moved above the two-year yield for much of the week, closed at 3.1%.

U.S. crude oil futures tumbled 6.9% to $95.78 a barrel last week, even after bouncing quite a bit from Thursday’s lows.

ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) sank 0.9% last week, while the Innovator IBD Breakout Opportunities ETF (BOUT) dipping 0.6.  The iShares Expanded Tech-Software Sector ETF (IGV) tumbled 4.4%, with a ServiceNow (NOW) warning taking a toll on the sector. The VanEck Vectors Semiconductor ETF (SMH) popped nearly 3%.

SPDR S&P Metals & Mining ETF (XME) edged down 0.1% last week. The Global X U.S. Infrastructure Development ETF (PAVE) gained 1 cent. U.S. Global Jets ETF (JETS) ascended 1.4%. SPDR S&P Homebuilders ETF (XHB) rose 0.5%. The Energy Select SPDR ETF (XLE) slumped 3% and the Financial Select SPDR ETF (XLF) shed 0.9%. The Health Care Select Sector SPDR Fund (XLV) dipped 0.4%, rebounding late in the week. UNH stock is a major XLV stock holding.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) plunged 5.9% last week and ARK Genomics ETF (ARKG) plunged lost 2.9%, with software and highly valued growth struggling. Tesla stock is a major holding for Ark Invest’s ETFs. Cathie Wood’s Ark also owns some BYD stock.


Five Best Chinese Stocks To Watch Now


Stocks In Buy Zones

UnitedHealth earnings easily beat second-quarter views early Friday. UNH stock jumped 5.4% on Friday to 529.75, bouncing above a 518.80 buy point from what’s either a cup-with-handle base or a double-bottom base with a handle. For much of the week, UnitedHealth stock fell, testing its 50-day line Thursday before rebounding for a slim gain. The relative strength line, the blue line in the charts provided, is at a record high, reflecting UNH stock’s strong outperformance.

UnitedHealth earnings also lifted rivals. Centene stock popped 4.55% to 89.66, back above an 87.44 double-bottom buy point, according to MarketSmith analysis. Humana stock climbed 3.2% to 487.54, reclaiming a 475.54 entry. Both Centene and HUM stock reported earnings later this month.

Option Care stock leapt 7.7% on Friday to 31.58 in heavy volume. That cleared a 31.18 cup-base buy point. But the better entry was 30.41, just above a not-quite handle. The RS line for OPCH stock has surging into new highs. Option Care Health earnings are due July 27.

Shockwave stock rallied 5.2% to 209.90 on Friday, clearing a not-quite handle that offered an early entry of 208.28. That SWAV stock entry also coincides with a long trendline from the November peak. The RS line is already at a new high, even with Shockwave well off highs. However, Friday’s low volume wasn’t ideal.

Tesla Earnings Loom

Tesla earnings are due on Wednesday night. The second quarter was marred by a lengthy Shanghai plant closure due to the city’s Covid lockdown, followed by a lengthy recovery to full production. The Berlin and Austin factories have had a slow ramp up as well. Still, analysts expect Tesla earnings to rise 26% vs. a year earlier, though that will end a five-quarter string of triple digit growth. Sales growth should cool to a 42% annual gain. Both EPS and revenue are expected to fall significantly vs. Q1.

Investors will be looking ahead for guidance for the rest of the year, as well as any hints of future products. CEO Elon Musk said Friday that Tesla vehicle prices, which have soared over the past year, could come down if commodity costs fall.

Tesla stock fell 4.3% to 720.20 last week, slipping just below the 50-day line but holding above the 21-day line. Arguably, TSLA stock has forged a bottoming base, but there isn’t much of a prior uptrend from the May lows.

BYD Seal Of Approval?

The BYD Seal will go on sale officially on July 18. The Model 3 rival, with boasts similar range and dimensions but for $10,000 cheaper, will likely begin deliveries a few days later.

Preorders for the Seal, which began in late May, reportedly are very high.

While Tesla and BYD both can lay claim to the EV crown, this is the first clear case of the automakers going head to head. It won’t be the last. BYD is expected to launch the Sea Lion, a Model Y crossover rival, later this year.

BYD stock plunged 8.6% to 37.74 last week. Shares tumbled on rumors that Warren Buffett’s Berkshire Hathaway (BRKB) was selling some or all of its big, long-time BYD stake. There has been no confirmation of that so far.

BYD stock actually rebounded well off weekly lows of 32.91 after the EV and battery giant report booming preliminary earnings for the first half that were far above views. Analysts expect even-stronger profits and margins in the second half as production continues to race higher and BYD moves into higher-priced, higher-margin vehicles.

Still, the BYD stock chart needs some time to repair and forge a new base.


Tesla Vs. BYD: Which EV Giant Is The Better Buy?


Market Rally Analysis

Ultimately, the major indexes finished with slim-to-modest losses, but it wasn’t a quiet week.

The stock market rally got off to a bad start, with the Nasdaq falling back Monday from its 10-week line, where it’s hit resistance multiple times. The major indexes kept sliding, but did manage to rebound well off lows Wednesday and Thursday, despite white-hot inflation reports that raised the odds of even-bigger Fed rate hikes. On Friday, stocks bounced strongly, with the Nasdaq, Dow Jones and S&P 500 retaking their 21-day lines.

Despite some big swings, the Nasdaq actually had an inside week and continues a recent streak of higher lows, though the other indexes briefly undercut the prior week’s lows.

The Nasdaq is once again close to its 50-day and 10-week averages. Will the tech-heavy composite once again turn tail near these levels? A decisive move above the 10-week — which would probably also mean clearing the late June/early July peaks — would be a positive signal. But there would still be several other key resistance levels along the way.

For now, the market rally remains under pressure, rangebound and highly volatile. It’s a tricky time to be investing.

The macroeconomic climate remains difficult. Wednesday’s CPI report was grim, with a scary headline figure and details suggesting last inflationary pressures even as gasoline prices come down. Th Friday’s economic data was more upbeat. June retail sales and the New York Fed’s Empire State manufacturing index for July were stronger than expected. Crucially, import prices, price gauges in the Empire factory survey and inflation expectations all boded well for future inflation.

The medical sector remains the key area of market strength. While some names wobbled midweek, many rebounded from key levels Thursday while UNH earnings buoyed rivals and others on Friday.

Discount retailers are looking healthy.

More broadly, there are some glimmers of hope and encouraging green shoots.


Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader


Chips Ahoy?

Chip stocks rallied for a second straight week, helped by strong Taiwan Semiconductor (TSM) earnings and guidance. That’s a positive sign, because it’s hard to have a broad market rally without chips playing a significant role. The semiconductor sector has a big market cap, especially for the Nasdaq, so that heft alone is important. Plus, chips are in almost everything, from PCs to phones to autos. So if chips are doing well, much of the market is likely thriving.

Still, the SMH ETF remains well below its 50-day line while few individual names are above that key level.

Weak earnings and guidance helped push stocks lower early in the week while strong results, including from UnitedHealth, Taiwan Semiconductor and Citigroup, help spur gains later on.


Time The Market With IBD’s ETF Market Strategy


What To Do Now

Earnings season ramps up this week, with Tesla, Netflix (NFLX) and Johnson & Johnson (JNJ) among the notable reports.

During the past week, investors may have been shaken out of stocks as they fell significantly. In many cases, those names ultimately bounced back. That’s OK. You follow the rules not to be right every time, but to be right most of the time — and to avoid massive losses. If a stock shakes you out and then flashes a new buy signal, such as UnitedHealth, don’t be afraid to buy it back, even at a higher price.

It’s still a time to keep exposure light. The market rally is near key resistance once again, so a reversal would not be out of character. Until there is clear evidence of a sustained uptrend, cash should still be your No. 1 holding.

But, there are some glimmers of hope. Stay engaged and build up your watchlists so you can be ready to take advantage.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

YOU MAY ALSO LIKE:

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

The 200-Day Average: The Last Line Of Support?

Hot Inflation Is ‘Tailwind For Growth’ For This Health Care Firm

Dow Giant Breaks Out, Leads 5 Stocks To Watch

Tags: "Georgia Business Search, American Express Business Cards, At&T Business Login, Att Business Customer Service, Att Business Internet, Bad Business Codes, Bank Of America Small Business, Buffalo Business First, Business Administration Jobs, Business Administration Salary, Business Analyst Jobs, Business Card Dimensions, Business Casual Female, Business Casual For Women, Business Casual Women Outfits, Business Ideas 2021, Business Letter Example, Business License California, Business Name Search, Business Process Reengineering, Business Proposal Template, Buy A Business, Card For Business, Chase For Business, Chase Ink Business Card, Columbia Business School, Costco Business Center San Jose, Emirates Business Class, Facebook Business Account, Fictitious Business Name, Florida Business Entity Search, Ga Sos Business Search, Google Business Email", Houston Business Journal, Illinois Business Search, Instagram Business Account, Is Lularoe Still In Business, London Business School, Master Of Business Administration, Men'S Business Casual, Pittsburgh Business Times, Qualified Business Income Deduction, Sacramento Business Journal, Secured Business Credit Card, Standard Business Card Size, T Mobile Business, Texas Business Search, Tië³´o The Business, Top Business Schools In Us, Types Of Business

Continue Reading

Previous Stock Market Had Finished Up on Friday. It’s Still a Bear Market.
Next Alphabet Split Ends Era of Jumbo Prices for Megacaps
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018

Recent Posts

  • Looking for a Better Investment Strategey? Consider Assett Allocation
  • Boost Your Business With a Joint Venture Broker
  • Log In
  • 6 Ways in Which IoT Is Revolutionizing Supply Chain Management and Logistics
  • How Loan Against Gold Can Be Your Savior When Personal Loan is Rejected

BL

Intellifluence Trusted Blogger

tramadol overnight shipping

seophee.com

gudang beras malang

Tags

"Business Insurance Cover Coronavirus 5e Business Profit Ahron Levy Columbia Business School business Business Consultant Certification Austin Business Letter With Logo Example Business Located Easy Location Business Platform Stocks Business Positions Seattle Business Regulation Legal Services Daystarr For Business Dimagi Business Development Toolkit Do Business Schools Accept Entreprenuers Enironmentall Friendly Business Ideas Eric Early Republican Business Owner Essec Business School Dean Essential Business To Remain Open Example Small Business Fall Winter Business Hours Template Fdot Woman Owned Business Certification First Business Women United States First Com Business Fixing A Damaged Reputation Business Florida Business Enforcement Free Small Business Communication Tool Law School Business Entity Outlines Mapping A Business Location Medical Business Trends Economics Mix Business And Personal Money Mlm Nit Small Business Legally New Business Agency Sales Questions Patricia Saiki Women'S Business 1990 Safety Business Proposal Sample Business Plan Entrepreneur School Business Administration Positions S Corp Business Deductions Search Tx Business Llc Sentextsolutions Business Cards Signs For Business On Roads Small Business Forums .Net Small Business Insurancr Tech Monkey Business Ttu Business Cards Template Turbotax Business Nys Forms Uf Business School General Studies

Visit Now

Law School

seo.buybacklinks.online 

scorpion pest control las vegas

ilpotea.info | Magazine 7 by AF themes.