Dow Jones futures dipped more than 500 points early Tuesday before the losses were reduced, as Moderna boss Stephane Bancel predicted that existing vaccines would be less effective for the Omicron variant. The stock market jumped after Friday’s omicron Covid-19 sale, when President Joe Biden ruled out new lockdowns. Electric car shares Li Auto, Lucid Motors, Rivian and Tesla drove higher on Monday.
On Monday, the Dow Jones Industrial Average rose 0.7 percent. The S&P 500 rose 1.3%, while the Nasdaq led and rose 1.9%. The price of crude oil rose above 2 percent. Bitcoin rose 7 percent. And the 10-year government interest rate rose to 1.53%.
Among the Dow Jones executives, apple (AAPL) traded up 2.2%, while Microsoft (MSFT) rose 2.1% in today’s stock market. Nike (NKE) remains below a recent buy point despite an increase of 1.1% on Monday.
Head of electric vehicles Tesla (TSLA) rose 5.1% on Monday. EV peer Rivian (RIVN) rose almost 7%, while Lucid Motors (LCID) increased 6.5%. Chinese EV leader Li Auto (LI) bolted higher after delivering earnings, while Xpeng engines (XPEV) edged higher.
Among the best stocks to buy and see, Nucor (NUE), Pioneer natural resources (PXD), Pfizer (PFE) and Zim integrated shipping (ZIM) is close to new shopping zones.
Microsoft, Nucor and Tesla are IBD Leaderboard stocks. Apple was featured in this week’s story about Stocks Near A Buy Zone. And Zim was put in the spotlight in last week’s IPO Leaders story.
Dow Jones Futures Today: Omicron variant; Powell, Yellen on deck
Ahead of the stock market opening on Tuesday, Dow Jones futures fell 0.9% against fair value, while S&P 500 futures lost 0.75%. Nasdaq 100 futures fell 0.4% at fair value. Keep in mind that trading in Dow Jones futures and elsewhere does not necessarily translate into actual trading in the next regular trading session.
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 1.6% on Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 2.2%. And the SPDR S&P 500 ETF (SPY) rose 1.2%.
Overview of the US stock market today
|Index||Symbol||Price||Gain / loss||% Change|
|S&P 500||(0S & P5)||4654.86||+60.24||+1.31|
Last updated: 16:38 ET 29/11/2021
early tuesday, Modern (MRNA) CEO Stephane Bancel said he expects existing vaccines to be less effective against the new omicron variant, in an interview with the Financial Times.
“There is no world, I think, where [the effectiveness] is the same level. . . we had Delta, “said Bancel.
Early Tuesday, Treasury Secretary Janet Yellen and Federal Reserve Chief Jerome Powell will testify before a Senate committee in a hearing entitled “CARES Act Oversight of Treasury and the Federal Reserve: Building a Resilient Economy.”
Stock Market ETF Strategy and How to Invest
Stock market rally
The stock market recovered from Friday’s sales, when the major stock indices closed with strong gains on Monday.
On Monday, The Big Picture commented: “Judging by how the big indices did, regular readers of this column could easily see that fund managers showed more optimism for big names and megacap names. They favored technology, some cyclical, and a bit of dividend paying utilities. But they also showed a salty view of other areas of the market. “
For daily stock market comments, be sure to check out IBD’s The Big Picture.
Five best Dow Jones stocks to see now
Dow Jones shares to buy and look at: Apple, Nike
Apple recovered from Friday’s loss of 3.2%, and rose 2.2% on Monday. The stock is at the top of the buying range above a buy point of 153.27 from a cup with handles, according to IBD MarketSmith chart analysis. The 5% buying zone tops at 160.93.
Retail leader Nike is about 2% below the cup base’s buying point of 174.48 after Monday’s 1.1% rise.
Dow Jones Revenue: Salesforce
Dow Jones Software Manager Salesforce (CRM) bullish regained its 50-day benchmark index during Monday’s rise of 4.4%. The stock remains expanding to over 275.32 buy points in a cup with handles despite their recent withdrawal.
Late Tuesday, Salesforce’s earnings per share are expected to fall 89% to 92 cents from a year ago. Salesforce revenue is expected to rise 25% to $ 6.8 billion
Share revenue: Ambarella, NetApp, Zscaler
Ambarella (AMBA), NetApp (NTAP) and Zscaler (ZS) will report its quarterly results after last Tuesday.
Chip designer Ambarella is expected to earn 49 cents per share on sales of 90.3 dollars, which represents an increase of 444% and 61% from year to year, respectively. The stock found much-needed support on its 50-day line on Monday.
NetApp’s earnings are expected to grow 15% to $ 1.21 per share year-over-year with revenue of $ 1.55 billion. NTAP shares track a flat base with a buy point of 94.79. The shares are trading back above the most important 50-day moving average after Monday’s rise of 3.6%.
Cybersecurity Leader Zscaler is expected to earn 12 cents per share on a $ 212 million sale. Shares closed just 5% of their 52-week high on Monday after Monday’s 5.65% gain.
Shares to buy and look at: Nucor, Pioneer, Pfizer, Zim
IBD Leaderboard stock Nucor has tried to break past a buy point of 119.42 from a cup-with-handle base, but is strong during construction after Monday’s decline of 1.7%. The shares are about 6% during the last listing.
Drug giant Pfizer is on the verge of being expanded past a buy point of 51.96 in a cupbase after a strong outburst on Friday in the wake of the newly discovered omicron variant. The shares reversed 3% lower on Monday, but are still above the buy point. The buying zone of 5% tops with 54.56.
Pfizer was Friday’s IBD Stock Of The Day. On Friday, vaccine partner BioNTech (BNTX) said that it will take two weeks to decide whether the vaccine will be able to cope with the new variant.
Tuesday’s IBD Stock Of The Day, Pioneer Natural Resources, continues to build a flat base with a 196.74 buy point amid Monday’s 2.6% rise.
IPO leader Zim Integrated is building a cup-with-handle base with a buying point of 60.19, according to IBD MarketSmith chart analysis. The stock rose more than 8% on Monday and is approaching the new listing.
Join IBD experts as they analyze leading stocks in the current stock market trend on IBD Live
EV shares: Li Auto, Xpeng, Lucid Motors, Rivian
Li Auto is trying to break past a 34.93 cup-with-handle base purchase point. The stock rose as much as 11.1% on Monday before the rise was reduced to 6.4% after the company reported quarterly results before the market opened. The shares closed just during construction.
The Tesla rival said it lost 6 cents per share adjusted, and lacked analyst targets. However, revenues increased by 210% in local currency to $ 1.21 billion, beating Street’s estimates. Li Auto delivered 25,116 cars in the third quarter. The company said revenue in the fourth quarter would jump 113-127% in local currency to $ 1.37 billion-$ 1.46 billion.
Xpeng Motors has been extended past its 48.08 buy points in a choppy cup base after last week’s sharp rise. XPEV shares rose 0.5% on Monday.
Lucid Motors shares traded up 6.5% on Monday, more than recovering after Friday’s decline of 1.6%. The LCID bearing is still well past a point of purchase of 28.49 in a cup with handles.
The listed stock Rivian rose 6.8% on Monday, taking a two-day losing streak and recovering from Friday’s loss of 2.4%.
RIVN shares closed on Monday with a 33% discount after the listing. The decline is a potential positive for investors who remain disciplined and wait for a listing base to be formed before considering a purchase. The latest weakness is the start of Rivian’s first base formation, but the last two weeks of price action were not very constructive given the heavy losses.
The Tesla share rose above 5% on Monday, and recovered after Friday’s 3.05% landslide. The stock traded as high as 1,243.49 on November 4, but the stock ended about 9% of its 52-week high on Monday.
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 shares, software giant Microsoft rose 2.1% on Monday, almost erasing all of Friday’s decline of 2.4%.
On October 18, the Microsoft stock broke past a flat base’s buying point of 305.94. The buy zone of 5% peaked at 321.24, so the stock is expanding.
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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