Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures.
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Nasdaq retreats after reaching 18,000; Uber, JPMorgan and Hilton in focus
The stock market rally gave some mixed signals over the past week. Even so, in weekly terms, the main indices show a tight performance, with the Nasdaq energy trend intact.
Target platforms (GOAL), Amazon.com (Amazon.com) and Tesla (TSLA) broke out during the week, although they encountered some resistance on Friday. Nvidia (NVDA) and other chip leaders fell back, but generally found their footing.
Software was strong, even on Friday, with AppLovin (APPLICATION), monday.com (MNDร) and Service now (NOW) between those intermittent buy signals.
Nvidia, Amazon and Meta stocks are on the move Classification of IBDAmazon and Meta shares are on the rise Oscillating operator. Nvidia, Monday.com and ServiceNow shares are on the market. IBD 50. AppLovin was on Friday IBD Actions of the Day while Amazon shares were Thursday's favorites.
Dow Jones Futures Today
Dow Jones futures open at 6 pm ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Remember that the night action in dow futures and in other places it does not necessarily translate into actual operations in the next regular period. stock Exchange session.
Electric vehicle sales in China
Investors will get June and Second quarter sales of China's electric vehicle manufacturers child (CHILD), Auto Li (L.I.), XPeng (XPEV) and Zeekr (ZK) early Monday morning and perhaps the electric vehicle and battery giant Please tell me (I WILL).
Tesla and Rivian (RIVN) should release its figures on Tuesday morning. Most automakers will also release second-quarter U.S. sales on Tuesday.
Join IBD experts as they analyze leading stocks and the market on IBD Live
Stock market rally
The stock market rally had some swings and ultimately closed mixed. The Dow Jones Industrial Average fell 0.1% in the past week. Trading in the stock market After a good start to the week. The S&P 500 index fell 0.1% and the Nasdaq composite rose 0.2% after both retreated from all-time highs Friday morning.
The Russell 2000 small-cap index rose 1.3% and regained its 50-day line.
The Invesco S&P 500 Equal Weight ETF (RSP) fell 0.8% for the week, ending just below its 50-day level.
The First Trust Nasdaq 100 Equal Weighted Index ETF (QQEW) fell 0.6%, still just below all-time highs.
Friday was a tough day for many growing names, but the software continued to perform well. The financial and industrial sectors in general lost ground after having looked interesting at the beginning of the week, although JPMorgan Chase (JPM) showed an early entry on Friday.
On a weekly chart, the Nasdaq has shown no real weakness, rising for the past four weeks and nine of the past 10.
The Nasdaq is 5.9% above its 50-day line, slightly higher despite the sideways trend of the past two weeks. A longer pause or a mild pullback would likely be constructive, allowing stocks to settle and giving more room for the next advance.
It would be positive if the Russell 2000, RSP and some key non-tech sectors decisively break above their 50-day lines.
The 10-year Treasury yield rose nine basis points to 4.34%. U.S. crude oil futures rose 1% to $81.84 a barrel last week, extending a recent uptrend.
ETF (exchange-traded funds)
Among growth ETFs, the Innovator IBD 50 ETF (FFTY) fell 0.4% last week.
The iShares Expanded Tech-Software Sector ETF (VAT) jumped 2.4%, its fourth consecutive strong weekly advance. ServiceNow and AppLovin stocks are IGV holdings. The VanEck Vectors Semiconductor ETF (SMH) fell 1.6% but recovered somewhat from its lows. Nvidia shares are SMH's top holding.
Reflecting stocks with more speculative histories, ARK Innovation ETF (SHEET) rose 1.4% last week and ARK Genomics ETF (ARKG) fell 3.5%, returning to April lows. Tesla stock is the number one holding among Ark Invest ETFs.
SPDR S&P Metals & Mining ETF (XME) rose 0.5% last week. The Global X US Infrastructure Development ETF (TO PAVE) fell 1.1%. US Global Jets ETF (JETS) fell 0.25%. SPDR S&P Homebuilders ETF (XHB) decreased by 1.7%.
The Energy Select SPDR ETF (XLE) rebounded 1.6% and the Health Care Select Sector SPDR Fund (XLV) fell by 0.7%.
The Industrial Select Sector SPDR Fund (XLII) fell 0.85%. The Financial Select SPDR ETF (Four. Five) fell by 0.6%.
Invest in the market with IBD's ETF market strategy
Mega-cap stocks
Nvidia shares fell 2.4% for the week to 123.54. But after falling 6.7% on Monday, ending a three-day sell-off, the AI โโchip leader recovered and stabilized above the 21-day moving average. NVDA stock could use a longer pause, forging a new base and allowing the 50-day line to catch up.
Meta shares rose 1.9% to 504.22. The stock topped 514.01 cup-with-handle It was bought one point on Thursday, but fell almost 3% on Friday. However, it is still in some early range entries.
Amazon shares gained 2.2% to 193.25, topping 191.70 flat base buy point. Shares fell 2.3% on Friday.
Tesla shares rose 8.1% to 197.88, breaking out from a 191.08 buy point. The buying range extends to 200.63. TSLA stock hit resistance at the 40-week line on Friday but closed higher.
Tesla's big weekly gain came as several analysts cut second-quarter delivery estimates ahead of the electric vehicle giant's Tuesday press release.
Amazon reached this milestone in the Andy Jassy era. What's next?
Software stocks in buying zones
AppLovin shares rose 5.9% for the week to 83.22, breaking above a narrow trend line and a short-term high of 82.66 on Thursday, offering an early entry. The official flat base buy point is 88.50, according to Market increase.
Monday.com shares rose 7% last week to $240.76, bouncing off the 50-day line within a brief mini-double bottom consolidation alongside another base. point of purchase is 249. However, MNDY stock broke above a trend line on Thursday. On Friday, the software maker tested a short-term high of 239.54, which roughly coincides with the buy point of the previous base of 239.22.
ServiceNow shares rose just over 5% to 787.19, breaking a trend line. The stock is up 23% from the May 31 intraday low of 637.99. The official buy point is 815.32. Ideally, NOW stock would carve out a handle.
Meanwhile, a number of software stocks are rising from the bottom, trading within the bases, while some leaders extend.
Investors could use IGV, which has a chart very similar to ServiceNow, or other software ETFs to take advantage of this sector movement.
Market rebound analysis
There are many ways for active investors to take advantage of the current stock market rally.
A very active trader might have made numerous trades over the past few weeks, landing some winners while also exiting a number of stocks that quickly faded amid mini-rotations. Other traders may have chosen to take little or no action depending on how their existing positions performed.
The key is to find the investing style and rules that work for you.
Pay attention to market and sector action. Many software names should be on your watch lists. And while the financial and industrial sectors pulled back, many stocks in those areas are very close to being actionable.
Read The panorama every day to stay in sync with market direction and major stocks and sectors.
Follow Ed Carson on Threads at @edcarson1971 and X/Twitter in @IBD_ECarson for stock market updates and more.
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