Dow Jones Futures: Biden, Xi meeting in focus; Clear stock increases on earnings

Dow Jones futures were slightly higher late Monday ahead of President Biden’s virtual meeting with Chinese President Xi Jinping. Tesla shares continued the recent fall, while Rivian extended its violent run. And Lucid Motors jumped on earnings results late, while Home Depot and Walmart will report before Tuesday’s opening.


On Monday, the Dow Jones Industrial Average fell less than 0.1 percent. The S&P 500 fell lower, while the Nasdaq also fell less than 0.1% lower.

Among the Dow Jones executives, apple (AAPL) rose a fraction on Monday, while Microsoft (MSFT) lost 0.2% in the current stock market. American Express (AXP), JPMorgan Chase (JPM) and Nike (NKE) continues to trade close to new buying points in the current rally.

Among the EV leaders, Tesla (TSLA) fell 1.9% Monday, while Rivian (RIVN) rose almost 15%. Lucid Motors (LCID) reported Monday night. And Xpeng engines (XPEV) is close to a point of purchase.

Among the best stocks to buy and see, Alphabet (GOOGL), On holding (ONON) and Shopify (SHOP) is in or near shopping zones.

Microsoft, On Holding and Tesla are IBD Leaderboard shares. Xpeng Motors was featured in this week’s Stocks Near A Buy Zone story. And Alphabet was featured in Friday’s IBD Sector Leaders story.

Dow Jones Today: Biden, Xi Meeting

After the stock market closed on Monday, Dow Jones futures, together with S&P 500 futures, rose higher than fair value. Nasdaq 100 futures were also slightly higher compared to fair value. Remember that actions before the market in Dow Jones futures and elsewhere do not necessarily translate into actual trading in the next regular stock market session.

Overview of the US stock market today

Index Symbol Price Gain / loss % Change
Dow jones (0DJIA) 36087.98 -12.33 -0.03
S&P 500 (0S & P5) 4682.88 +0.03 +0.00
Nasdaq (0NDQC) 15853.85 -7.11 -0.04
Russell 2000 (IWM) 238.45 -1.05 -0.44
IBD 50 (FFTY) 50.31 -0.84 -1.64
Last updated: 16:36 ET 15/11/2021

Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) went down on Monday. And the SPDR S&P 500 ETF (SPY) rose higher.

President Biden and President Xi plan to meet practically on Monday night, but expectations are modest and neither of them expects concrete results. Discussion topics include Taiwan, human rights, and Chinese economic practices.

Stock Market ETF Strategy and How to Invest

Stock market rally

The rise in stocks took a breather on Monday, when the large stock indices registered smaller losses.

On Friday, The Big Picture commented: “Nevertheless, the stock market’s recovery healed much of the week’s earlier damage, and a prolonged decline now seems less likely. The last week’s moderate contraction served as a healthy shakeout, after the major indices hit record highs. . “

For daily stock market comments, be sure to check out IBD’s The Big Picture.

Currently, the current withdrawal is completely normal, so investors should be optimistic about the health of the trend. Continue to buy breakouts in peak growth stocks. And look for stocks that hold up best during this week’s weakness; they can continue to be some of the market leaders.

Five best Dow Jones stocks to see now

Dow Jones shares to buy and look at: Amex, JPMorgan, Nike

American Express ended Monday in the shopping area past an entrance of 178.90 in a cup with handles, according to IBD MarketSmith chart analysis. Shares rose 0.7 percent on Monday.

Meanwhile, JPMorgan remains in the 5% buying zone past an entry of 163.93 in a cup with handles after a recent setback from the 50-day moving average. The buying area of ​​5% tops at 172.13. The JPM share was 0.2% lower on Monday.

Dow Jones retail leader Nike is still below the cup base’s buying point of 174.48 amid Monday’s 0.1% loss.

Dow Jones Income: Home Depot, Walmart

Home Depot and Walmart will report earnings Tuesday morning.

Home Depot is expected to report an EPS of $ 3.41, 7% over the quarter last year, per set of facts. Revenue is estimated at $ 34.88 billion, 4% higher than last year. Shares in the Dow Jones home improvement giant ended Monday near new peaks and about 10% from a buy point of 338.65 in a flat base.

Walmart is expected to earn $ 1.40 per share on a $ 135 billion sale. Shares form a cup with handles with a buy point of 152.10. The discount store giant was part of last week’s Revenue Advance History.

Shares to buy and look at: Alphabet, On Holding, Shopify

The IBD sector leader alphabet remains just above a buying point of 2,925.18 in a flat base, according to the IBD MarketSmith chart analysis, after Monday’s slight fall. The purchase area of ​​5% goes up to 3,071.44, so the share is within the purchase area.

IBD Stock Checkup shows GOOGL stocks with a strong 97 of a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a mix of strong basic and technical characteristics.

The IBD Leaderboard stock On Holding is building a cup with a handle with a buy point of 39.90 in the middle of Monday’s fall of 2.1%. Per Leaderboard analysis, the stock has recently crossed an aggressive trend line buying point near 36. The company will report earnings before Tuesday’s market opening. Analysts expect the company to lose 12 cents per share on a sale of 197.1 million dollars. Revenues are expected to grow by 37% compared to the same period last year.

On Friday, the Shopify share broke above a buy point of 1650.10 in a consolidation with an increase of more than 12%. The shares returned 0.8% on Monday, but are still within the buying area. The purchase area of ​​5% goes up to 1,732.61.

Join IBD experts as they analyze leading stocks in the current stock market trend on IBD Live

EV shares to buy and look at: Xpeng, Lucid Motors, Rivian, Tesla

Xpeng Motors closed back below a buy point of 48.08 in a choppy cup after Monday’s fall of 2.1%. On Friday, the stock erupted after the company teased a new electric vehicle. It will be unveiled at a car show in Guangzhou on November 19.

Lucid shares rose 2.2% on Monday, ahead of the company’s earnings after the closure. Lucid Motors started deliveries at the end of October. LCID bearing is extended past a point of purchase of 28.49 in a cup with handle.

Late Monday, Lucid Motors said customer reservations grew from 10,000 to 13,000 in the third quarter, while the company ended the period with around $ 4.8 billion in cash. The stock rose as much as 11.5% to as high as 48.04 in the extended session before lowering the rise to about 1%.

“We see a significant demand for the award-winning Lucid Air, with accelerating reservations as we increase production at our Arizona plant. We remain confident of our ability to reach 20,000 units by 2022,” commented CEO Peter Rawlinson.

Hot new issue Rivian increased by almost 15% on Monday, and extended a winning streak to three sessions after the company’s strong debut on 10 November. Despite the stock’s initial rise, remember that investors should be disciplined when it comes to buying new issues. Wait until a listing base is formed and offer the stock’s first point of purchase before considering a purchase.

Tesla shares fell almost 2% on Monday, extending a losing streak to three sessions.

Tesla traded as high as 1,243.49 on November 4, but the stock ended Monday with about 19% of its 52-week high. TSLA shares remain sharply above 764.55 buy points in a cup with handles, as well as previous entries of 700.10 and 730. The chart also showed an alternative entry of 900.50.

Dow Jones executives: Apple, Microsoft

Among the best Dow Jones stocks, Apple has formed a new cup-with-handle base with a buy point of 153.27, according to IBD MarketSmith chart analysis. Meanwhile, an early entry of 152.53 is also in play. The stock traded up less than 0.1% on Monday after Friday’s 1.4% rise returned the most important 50-day moving average.

A real mistake is the stock’s lagging relative strength line. This line is close to recent lowest levels, indicating strong underperformance in the stock market compared to the S&P 500.

Software giant Microsoft fell 0.2% on Monday, giving back part of Friday’s 1.3% gain. On October 18, Microsoft broke past a flat base’s buying point of 305.94. The 5% buy zone tops at 321.24, so the stock has now expanded. The shares are just outside new peaks.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.


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