• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Dow Jones Futures: Rally Attempt Still Fighting, What To Do; Tesla, Nvidia Lead Stocks To Watch
Finance

Dow Jones Futures: Rally Attempt Still Fighting, What To Do; Tesla, Nvidia Lead Stocks To Watch

August 27, 2023No Comments8 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Dow Jones Futures: Rally Attempt Still Fighting, What To Do; Tesla, Nvidia Lead Stocks To Watch
Share
Facebook Twitter LinkedIn Pinterest Email

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures.




X



The stock market had a mixed week. On the one hand, the S&P 500 and especially the Nasdaq advanced, snapping three-week losing streaks. But the major indexes suffered ugly reversals Thursday despite blowout Nvidia (NVDA) earnings and guidance. Stocks did rebound Friday following Fed chief Jerome Powell’s speech, but many leaders remain damaged.

A market rally attempt remains ongoing, but investors should remain cautious in the current environment, especially with tech names.

Nvidia stock rose solidly for the week, but came well off Thursday morning highs and faces a key test. Meanwhile, other chip and artificial intelligence plays suffered sharp losses.

Tesla (TSLA) jumped last week, coming up to key levels.

Other stocks to watch: Meta Platforms (META), Google parent Alphabet (GOOGL) as well as Dow Jones giants Visa (V), Caterpillar (CAT) and Salesforce.com (CRM). Salesforce headlines another big week for software earnings.

Nvidia and META stock are on IBD Leaderboard. NVDA stock is on the IBD 50. Nvidia, Meta, Caterpillar and GOOGL stock are on the IBD Big Cap 20.

The video embedded in this article discussed the market’s big moves and analyzed Nvidia, CAT stock and Marsh & McLennan (MMC).

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.


Join IBD experts as they analyze leading stocks and the market on IBD Live


Stock Market Rally Attempt

The stock market rally attempt started the week off strong, but then tumbled back Thursday, with all the major indexes hitting resistance at their 50-day moving averages. Stocks bounced Friday after wobbling initially following Fed chief Jerome Powell’s Jackson Hole speech.

The Dow Jones Industrial Average fell 0.45% in last week’s stock market trading. The S&P 500 index climbed 0.8% and the Nasdaq composite popped 2.3%.

The small-cap Russell 2000 dipped 0.35%.

The 10-year Treasury yield fell 1 basis point to 4.24%. The 10-year Treasury yield hit a 15-year high of 4.36% intraday Tuesday, then tumbled to as low as 4.19% on Wednesday.

The two-year yield, more closely tied to the Fed policy outlook, climbed 12 basis points to 5.05%. Markets are now leaning toward another Fed rate hike by Nov. 1.

See also  The stock market will continue higher until these 2 things happen, Bank of America says

Powell’s speech was slightly more hawkish than after the July policy meeting, reflecting stronger U.S. economic data. But he also said policymakers would “proceed carefully,” suggesting they’re not in a rush.

U.S. crude oil futures fell 1% to $79.83 a barrel for the week. Copper futures climbed 1.65%, ending a three-week slide.

ETFs

Among growth ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.1% last week. The iShares Expanded Tech-Software Sector ETF (IGV) gained 3%, with CRM stock a major component. The VanEck Vectors Semiconductor ETF (SMH) climbed 2%. Nvidia stock is the No. 1 holding in SMH.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) advanced 1.5% last week and ARK Genomics ETF (ARKG) rose 0.8%. Tesla stock is the No. 1 holding across Ark Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) fell 1.6% last week. The Global X U.S. Infrastructure Development ETF (PAVE) edged up 0.5%. U.S. Global Jets ETF (JETS) descended 1.7%. SPDR S&P Homebuilders ETF (XHB) dipped 0.3%. The Energy Select SPDR ETF (XLE) fell 1.4% and the Health Care Select Sector SPDR Fund (XLV) nudged down 0.1%. The Industrial Select Sector SPDR Fund (XLI) inched up 0.3%, with CAT stock the top holding.

The Financial Select SPDR ETF (XLF) finished just above break-even, with Visa stock a big holding. The SPDR S&P Regional Banking ETF (KRE) gave up 2.5%.


Five Best Chinese Stocks To Watch Now


Nvidia Stock

NVDA stock ran up heading into earnings, retaking the 50-day line and flashing buy signals. Nvidia earnings crushed views with the AI chip leader guiding sharply higher yet again.

But after spiking to a record 502.66 at Thursday’s open, Nvidia stock essentially closed flat. On Friday, shares fell 2.4% to 460.18, but found support at the 21-day line, just above its 50-day.

Ultimately, NVDA stock jumped 6.3% for the week.

Holding those levels will be important for Nvidia but perhaps even more so for other AI plays as well as the general market. If the booming AI leader struggles, what chance do other growth stocks have?

Tesla Stock

Tesla stock leapt 10.7% to 238.59 last week, ending a three-week losing streak. The EV giant is now right at the 21-day moving average. A move above the now-falling 50-day line could offer an early entry in what would then be a new base with an official 299.20 buy point. But a reversal from the 21-day or 50-day line could present a chance to short.

See also  Smuggled Commodities From India and Bangladesh are Lifelines for Myanmar’s Arakan

Buzz is building for an upgraded Model 3 and the upcoming Tesla Cybertruck. But there are still a lot of unknowns about those vehicles, with Elon Musk hinting at production issues for the Cybertruck.

Meanwhile, Tesla continues to beef up discounts in key markets, even as it curbs production somewhat in Q3. Finally, the National Highway Traffic Safety Administration says it’s close to ending its probe of Tesla’s driver-assist systems Autopilot and Full Self-Driving, but it’s unclear if NHTSA regulators will take significant action vs. the EV giant.


Catch The Next Big Winning Stock With MarketSmith


Other Stocks To Watch

Google stock edged up 0.1% to 129.88 last week, after briefly hitting a 52-week high. GOOGL stock is in buy range from a 127.10 cup-with-handle buy point, though investors might want to wait for a move above the past weeks of action.

Meta stock rose 0.8% to 285.50, but hit resistance at the 50-day/10-week lines. META stock is now 4.2% below its 10-week line. That’s a sell signal, though shares didn’t quite undercut the prior week’s lows. A decisive move above the 50-day line and trendline would offer an early entry, but Meta may need more time.

Visa stock rose 1.85% to 242.57 in the past week. Shares have a new 245.37 buy point from a flat base that formed right on top of another flat base. The base-on-base pattern is especially bullish in choppy or weak markets. Investors could use the Aug. 10 high of 243.95 as a slightly early entry.

Caterpillar stock edged down 0.45% to 272.56, just below the 21-day line. Shares have been consolidating this month, pulling back gradually in light volume following a solid breakout. CAT stock could forge a new base, perhaps finding support at the 10-week line.

CRM stock rose 2.3% to 209.47 last week, but is hitting resistance at the 21-day line, below the 50-day. A decisive move above the 50-day line would create an early entry in what would then be a new base. Salesforce earnings are due Wednesday night.


Why This IBD Tool Simplifies The Search For Top Stocks


Market Rally Analysis

Thursday’s sharp reversal from the 50-day moving average was a serious blow to the market rally attempt. Still, Friday’s bounce was nice, but continued a trend of gains coming on light volume.

The picture looks a little better on weekly charts. The Nasdaq had solid gains, albeit off highs. The S&P 500 rose modestly and the Dow Jones just edged lower.

See also  Biden’s SEC Chair Says AI Technology Could Lead To Financial Collapse

Still, the best that can be said is that the market direction remains unclear.

The stock market rally attempt remains valid until the S&P 500 and Nasdaq undercut their Aug. 18 lows. So investors should still be on watch for a follow-through day. Ideally, a FTD would also involve retaking the 50-day line following Thursday’s heavy-volume reversal from that key level.

Market breadth has weakened considerably in recent weeks.

As breadth has narrowed, so has leadership. Most tech growth plays look damaged and need at least a little repair time. Nvidia stock and key earnings from Salesforce.com, Broadcom (AVGO) and more will be key this week.

Homebuilders are threatening to break down.

Insurance brokers are faring well. So are some construction, infrastructure and industrial plays, discounters and medicals are faring OK.

Energy is the best-looking sector right now, but is pausing for now along with crude oil prices.

Earnings reports and Friday’s September jobs report will be key headlines for the upcoming week. But stocks may continue to take their cue from bond markets.


Time The Market With IBD’s ETF Market Strategy


What To Do Now

Investors should have pared exposure substantially in recent weeks, and there haven’t been a lot of reasons — or opportunities — for new buys.

This is a show-me market. Until the market rally attempt proves itself with real strength, investors should be in wait-and-see mode.

A rebound up to the 50-day line could foreshadow buying or shorting opportunities, depending on what happens next.

So investors should have buy and shortlists prepared, as well as a broader list of stocks holding key levels and showing relative strength.

A market break below recent lows would signal investors should further cut exposure, even going entirely to cash.

In other words, stay engaged, remain flexible and be prepared.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

YOU MIGHT ALSO LIKE:

Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Looking For Winners In Weak Market? Here Are 5 Stocks Near Buy Points.

attempt Dow fighting Futures Jones Lead Nvidia Rally Stocks Tesla Watch
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Tale Of Two Markets: Chinese Stocks Slump As US Shares Soar

May 13, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

‘F**k Every Single One of These Cowards’

August 24, 2023

Jason Aldean’s Song ‘Embraces’ Racist Imagery

July 22, 2023

White House Claims Russia Looking to Buy North Korean Munitions to Fight Ukraine

August 6, 2023

‘Broken Weirdo’: Trump Stirs Feud With Howard Stern On Truth Social

September 25, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Global Spillover Effect and Pakistan’s Economic Woes

February 28, 2023

AEW star’s 357-day undefeated streak comes to an end on Blood & Guts

July 20, 2023

Stocks moving big after the bell: FSLR, AMC, NVAX

March 1, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.