Dow Jones futures as well as S&P 500 futures and Nasdaq 100 futures were lower after the stock market surge on Monday. Tesla rebounded on Monday as Zoom stock climbed on earnings. The Nio profits missed the estimates and caused a sharp decline.
The tech-heavy Nasdaq network rose 3% on Monday, the best day since November 4th. The S&P 500 was up 2.4% while the Dow Jones Industrial Average was up 1.95%.
Tesla ((TSLA) went more than 6% higher on Monday and grabbed a two-day slide.
After the exchange closed on Monday, Zoom video ((ZM) reported strong quarterly results. The Zoom share gained 10% in extended trading. Meanwhile Chinese EV leader Nio ((NOK) missed earnings estimates late Monday.
Dow Jones Futures today
After the market closed on Monday, the Dow Jones futures and S&P 500 futures each fell 0.3% from fair value. Nasdaq 100 futures lost 0.25% from fair value. Remember you are acting Dow Jones Futures and elsewhere this does not necessarily mean that the next regular trade will actually be traded Stock market Session.
US Stock Market Today overview
|index||symbol||price||Gain loss||% Change|
|S&P 500||((0S & P5)||3901.75||+90.60||+2.38|
Last update: 17:24 ET 01.03.2021
On Saturday, the House passed the $ 1.9 trillion stimulus plan, including $ 1,400 stimulus checks for many Americans.
Under Exchange Traded Funds, the innovator IBD 50 (FFTY) were trading at 4.8% on Monday. Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) rose by 3%. In the meantime, the SPDR S & P has 500 ETF (SPY) rose by 2.4%.
The withdrawal from the stock market finds support
Looking back on the current upward trend, November was an important month for the stock market. IBDs The big picture The new uptrend became apparent after the market’s bullish follow-through day on November 4th. Meanwhile, the Dow Jones Industrial Average, Nasdaq and S&P 500 retreated from record highs in early March.
But the big wins on Monday are a clear step in the right direction. The Nasdaq recaptured its all-important 50-day line, while industrial companies S&P 500 and Dow Jones also found support on their 50-day line. If that upswing continues, look for more top stocks that break out in bulk beyond the right buy points.
In the midst of the stock market downturn, investors should play more defense than insult. Avoid new breakouts unless they are exceptional and make sure to sell any stock that falls more than 7% below your purchase price. Remember, if the stock is clearly not doing well, you don’t have to wait for a 7% to 8% loss.
Focus on stocks that are showing strong relative strength during the current weakness. You could be among the leaders if the indices can continue their recovery.
Bitcoin rebounded on Monday and briefly rebounded above $ 49,500 before reducing profits. According to the evening, the price of Bitcoin was trading around USD 48,600 CoinDesk.
The price of Bitcoin hit an all-time high on February 21, at $ 58,332.
The Grayscale Bitcoin Trust (GBTC) The ETF fell 23.8% last week but was still holding above its 10 week support level. The Bitcoin tracking ETF rose 6.1% on Monday.
Dow Jones Stocks: Visa
Within the Dow Jones Industrial Average, Visa shares are in the buy range after a buy point of 211.69 in a mug with Henkel IBD MarketSmith Chart analysis. The 5% buying zone rises to 222.27.
The stocks rose 2% on Monday and are right in the buy range. The stock ended a two-day losing streak.
Stocks to watch: RH, Target
IBD share of the day on Friday, RH, is approaching a 524.11 buy point on a flat basis. The shares gained 3.2% on Monday.
Leaderboard comment said, “Target is on a flat base as it tests support on a 50-day moving average. The company will report fourth quarter results on Tuesday.”
Chinese EV leader Nio reported a loss per share of 14 cents on sales of $ 1.02 billion, with the bottom line estimates for the fourth quarter missing, but the bottom line projections falling behind.
Nio was expected to reduce its net loss from 39 cents a year ago to 7 cents per ADS as revenue climbs 148% to $ 1.01 billion.
The company had already announced that deliveries rose 111% to 17,353 vehicles in the fourth quarter of 2020 and increased for the third quarter in a row after the pandemic in early 2020.
Nio ended Monday more than 25% from its 52-week high after falling 16.8% last week. The shares gained 8.7% on Monday.
The Tesla rival triggered a sell-signal from a buy point of 57.30 as it fell more than 7% below the entry on Feb. 18.
Late Monday, Nio shares fell over 6% in overnight trading.
Zoom revenue adjusted to $ 1.22 per share, while revenue increased to $ 882.5 million. In the meantime, the company announced optimistic outlook for the first quarter and fiscal year 2022.
The company was expected to earn 79 cents per share on revenue of $ 811.7 million, up 427% year over year from 331% year over year.
Zoom stock found support around its long-term 200-day line on Monday, closing about 30% of its 52-week high.
Outside of the Dow Jones futures, Zoom stocks rose 9% to around 444 per share, moving up on the right side of a new base.
Tesla stock gained more than 6% on Monday and lost for two days. Stocks could make a new base, but it’s too early to identify a new entry.
Last week the electric car leader broke its critical 10-week moving average line, a critical level of support.
On Jan. 25, Tesla stock hit a record high of 900.40 after rising 93% from a buy point of 466 in a mug with Henkel. The stocks are about 25% below their all-time high.
Dow Jones Leaders: Apple, Microsoft
Under the tips Dow Jones stocksApple gained 5.4% on Monday. Apple stock remains below its 10-week line, but a strong rebound above that level would be bullish on the stock’s outlook.
On February 18, Apple stock triggered the 7% to 8% loss-reducing sell rule when it fell more than 7% below its buy point of 138.89 in a mug with a handle.
Meanwhile, Microsoft rose nearly 2% on Monday. The stock found support at its buy point of 232.96 and is back in the buy range.
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
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