Dow Jones futures rose slightly Sunday night, along with S&P 500 futures and Nasdaq futures, indicating a positive start to the trading week. Last week, the stock market rally experienced a pullback, with the Nasdaq and S&P 500 showing modest declines. However, certain stocks such as Nvidia, Apple, and Meta Platforms held their ground or even saw gains. Tesla, on the other hand, retreated slightly after significant recent gains.
While the Nasdaq and S&P 500 held up relatively well, the Dow Jones and Russell 2000 showed more damage. However, stocks like MongoDB, HubSpot, Chipotle Mexican Grill, Shockwave Medical, and DexCom are holding up well and trading near buy points.
Investors are advised to closely watch leading stocks during this market pullback to see which names hold up the best. It’s important to note that a stock may find support or rebound from a key level on a given day, but then reverse lower.
Nvidia continues to stand out as the true chip and AI leader, while Advanced Micro Devices and speculative plays like C3.ai broke below their 21-day lines.
Apple stock quietly set a fresh record high, while Meta Platforms reached a 16-month best.
Several stocks, including Tesla, Nvidia, MongoDB, Meta Platforms, and HubSpot, are on IBD Leaderboard, with Chipotle Mexican Grill on the Leaderboard watchlist. Tesla and HubSpot are also on the IBD 50, while Tesla, Chipotle, HubSpot, and MongoDB are on the IBD Big Cap 20.
In terms of futures, Dow Jones futures rose 0.1% vs. fair value, S&P 500 futures advanced 0.2%, and Nasdaq 100 futures climbed 0.3%. Crude oil prices rose slightly, and the 10-year Treasury yield edged down to 3.73%.
Last week, the stock market rally snapped multiweek win streaks, with the Dow Jones Industrial Average slumping 1.7%, the S&P 500 falling 1.4%, the Nasdaq composite declining 1.4%, and the small-cap Russell 2000 tumbling 2.95%.
Among growth ETFs, the Innovator IBD 50 ETF fell 1.65%, the Innovator IBD Breakout Opportunities ETF sank 1.7%, the iShares Expanded Tech-Software Sector ETF slid just over 3%, and the VanEck Vectors Semiconductor ETF gave up 3.8%.
In terms of individual stocks, MongoDB, HubSpot, Chipotle, Shockwave, and DexCom are all near buy points. Nvidia stock fell slightly, while AMD and C3.ai experienced significant declines.
Tesla stock fell after several analyst downgrades, while Apple and Meta stock continued to find support from their fast-rising 10-day lines.
Overall, the stock market rally experienced a pullback last week, but it remains to be seen if the pullback is nearing its end. The Nasdaq and Nasdaq 100 are still significantly above their 50-day lines, indicating potential further downside. Investors are advised to closely monitor leading stocks during this time.positive with some stocks holding up well. However, the Dow Jones and Russell 2000 showed more damage.
Leading stocks such as Nvidia, Apple, and Meta Platforms held their ground or even marched higher, while Alphabet regained a key level. Tesla, on the other hand, retreated modestly after significant recent gains.
Several stocks, including MongoDB, HubSpot, Chipotle Mexican Grill, Shockwave Medical, and DexCom, are holding up well and trading near buy points. DexCom even raised its fiscal 2025 revenue guidance at its investor day.
With the market rally pulling back, it is crucial to closely watch leading stocks and see which names hold up the best. While some stocks may find support or rebound from key levels, it’s important to remain cautious as they could reverse lower.
Nvidia continues to stand out as the true chip and AI leader, while Advanced Micro Devices and speculative plays like C3.ai broke below their 21-day lines.
Apple quietly set a fresh record high, and Meta Platforms reached a 16-month best.
Tesla, Nvidia, MongoDB, Meta Platforms, and HubSpot are on IBD Leaderboard, with Chipotle on the Leaderboard watchlist. Tesla and HubSpot are also on the IBD 50, while Tesla, Chipotle, HubSpot, and MongoDB are on the IBD Big Cap 20.
In overnight trading, Dow Jones futures rose 0.1%, S&P 500 futures advanced 0.2%, and Nasdaq 100 futures climbed 0.3%. Crude oil prices also rose slightly, while the 10-year Treasury yield edged down to 3.73%.
Last week, the stock market rally snapped multiweek win streaks, with the Dow Jones, S&P 500, Nasdaq, and small-cap Russell 2000 all experiencing declines. U.S. crude oil futures and copper futures also fell, while the U.S. dollar had a strong week.
In terms of ETFs, growth ETFs like the Innovator IBD 50 ETF and the Innovator IBD Breakout Opportunities ETF fell, while the iShares Expanded Tech-Software Sector ETF and the VanEck Vectors Semiconductor ETF gave up ground. ARK Innovation ETF and ARK Genomics ETF retreated after several weeks of gains. The SPDR S&P Metals & Mining ETF and the Global X U.S. Infrastructure Development ETF also fell, while the U.S. Global Jets ETF and the SPDR S&P Homebuilders ETF had mixed performances. The Energy Select SPDR ETF and the Financial Select SPDR ETF experienced declines, while the SPDR S&P Regional Banking ETF tumbled.
Overall, the stock market rally experienced a pullback last week, but some stocks are still near buy points and showing strength. It’s important to closely monitor leading stocks and market trends during this time.
What factors are contributing to the uncertainty surrounding the end of the current stock market pullback and how should investors monitor leading stocks during this time
D support or rebound from key levels on certain days, it is important to note that they could reverse lower.
As for the futures market, Dow Jones futures rose slightly by 0.1% compared to fair value, while S&P 500 futures and Nasdaq 100 futures showed gains of 0.2% and 0.3% respectively. Crude oil prices saw a slight increase, while the 10-year Treasury yield edged down to 3.73%.
Last week, the stock market rally experienced a pullback, with the Dow Jones Industrial Average falling 1.7%, the S&P 500 declining 1.4%, the Nasdaq composite tumbling 1.4%, and the small-cap Russell 2000 slumping 2.95%. Growth ETFs also saw declines, with the Innovator IBD 50 ETF falling 1.65%, the Innovator IBD Breakout Opportunities ETF sinking 1.7%, the iShares Expanded Tech-Software Sector ETF sliding over 3%, and the VanEck Vectors Semiconductor ETF giving up 3.8%.
Despite the overall pullback, certain stocks are holding up well. MongoDB, HubSpot, Chipotle Mexican Grill, Shockwave Medical, and DexCom are all trading near buy points, with DexCom even raising its revenue guidance for fiscal 2025. On the other hand, stocks like Nvidia, Advanced Micro Devices, and C3.ai experienced declines.
In terms of individual stocks, Tesla faced downgrades from several analysts, leading to a slight retreat in its stock price. On the contrary, Apple and Meta Platforms continued to find support from their fast-rising 10-day lines.
While the stock market rally is currently experiencing a pullback, it is uncertain if the pullback is nearing its end. The Nasdaq and Nasdaq 100 still remain significantly above their 50-day lines, indicating the potential for further downside. It is crucial for investors to closely monitor leading stocks during this time.
It’s good to see some positive movement in Dow Jones futures amidst the ongoing stock market pullback. Hopefully, this minor rise is a sign of things turning around in the coming days.
“Despite the ongoing pullback, the fact that Dow Jones futures are rising slightly indicates there is still a glimmer of hope for investors. It will be interesting to see how this unfolds in the coming days.”