Dow Jones futures rose late Thursday, along with S&P 500 futures and Nasdaq futures. The stock market rally saw a heated session on Thursday as the major indices cut further support levels before recovering to close higher.
The Federal Reserve said that major financial firms are like C. B. Morgan Chase (JPM) And the American Bank (BuckProfit-raising buybacks begin on June 30th, assuming they pass the most recent round of stress tests. Previously, the Fed said that those higher shareholder returns could start in the first quarter. JPM and BofA, however, were slightly higher.
Investors should be looking for stocks that hold up well in the current market, with strong fundamentals or at least strong earnings expectations. This stock market rally is as fun as Spinal Tap, so here are 11 stocks for your watchlists: ASML (ASML), General Motors (GM), The social networking site Facebook (FB), Scotts Miracle-Gro (SMG), Obikuity (user interface), Disney (Dis), Targeting (TGT), Lowe (Little), mosaic (Moss), monastery (From) And the ArcelorMittal (MT).
General Motors and ArcelorMittal shares are running IBD Leaderboard. Deere, ASML, and Scotts-Miracle-Gro stocks are in operation Defect 50. ASML Stock is listed on the Watchlist for Long-term leaders of IBD. Deere stock is located at IBD Big Cap 20. Lowe’s arrow was it IBD stocks today.
Dow Jones futures today
Dow futures rose 0.1% versus fair value. S&P 500 futures rose 0.2% and Nasdaq 100 futures rose 0.3%.
The number of coronavirus cases around the world has reached 126.03 million. The death toll from Covid-19 has exceeded 2.76 million.
The number of Coronavirus cases in the United States reached 30.76 million, with the number of deaths exceeding 559,000.
The stock market rises
The stock market rally saw a rough session, as it fell sharply during the day before rebounding higher.
The Dow Jones Industrial Average rose 0.6% on Thursday Stock market trading. The S&P 500 rose 0.5%. The Nasdaq Composite Index rose 0.1%. Intraday, the Nasdaq was down 1.35% after sliding 2% on Wednesday. The Russell 2000 index, which is down sharply during the day, jumped 2.2%
between the The best ETFs, The Innovator IBD 50 ETF (fifty(Up 1.3%, Innovator IBD ETF)fit) Rose 0.65% after two big losses for growth ETFs. IShares Technology and Software Expanded Fund (ETF)IGVDecreased by 0.4%. (VanEck Vectors Semiconductor Foundation)SMHIt rose 0.3%. SMH includes stocks of ASML and many other chip equipment makers who have held up relatively well.
Facebook, ASML, and GM stocks are the stocks to watch
So why consider ASML, GM, Facebook, SMG, Ubiquiti, Disney, Target, Lowe’s, Mosaic, Deere and ArcelorMittal stocks on your watchlist? They hold up reasonably well, with strength or at least improving Relative strength lines. Many earnings shows rebound with strong growth prospects going forward.
Ubiquiti and SMG stocks form good-looking bases, which are particularly impressive given the volatile market conditions. A couple of these stocks are technically in the buying territories, including ArcelorMittal, Lowe, and Disney stocks. Others may be considered “viable” in a better market, such as Facebook stock, GM, or ASML. But it is not a good market. Recent breakthroughs continue to struggle or tumble as former growth leaders head towards their lows in March or later.
But all of these are worth seeing, and provide a window into a variety of positive sectors. It is not clear which stocks or sectors will lead the next strong rally in the stock market, so you want to cast a wide net. Definitely consider the many competitors and peers of the 11 stocks above, as well as from other sectors. Homebuilders, oil producers, and financial firms – including JPMorgan and BAC stocks – are also worth considering.
Market Rise Analysis
Stock market rally moved into “uptrend under pressure” on Wednesday and Thursday’s volatility did not change that. During the day, Dow Jones lowered it 21-day exponential moving average While the S&P 500 Index fell below its 50-day average, the Russell 2000 Index almost approached its lowest level in March. The positive is that they have bounced higher from sharp intraday losses, with the S&P 500 moving again above the 21-day line.
At least market conditions have not worsened. But they are not materially better.
The Nasdaq Composite has some work to do to break the 21-day streak. The tech heavyweight index won’t look really healthy until it returns above the 50-day line and a short-term high on March 16th. The Dow Jones and the S&P 500 need to maintain key levels.
Most importantly, the recent breakthroughs have not worked. Many stock charts look damaged and take weeks, or even months, to repair. Sure, it’s nice if MT stock is in the buying zone on Thursday, but a lot of stocks resisted selling until they didn’t.
If you have 2 demo positions or long term winners, that’s okay. But investors should be largely cash and should not consider new purchases.
Thursday’s lows could mark the beginning of a bold new bullish era. But this could be a short respite before the major indices drop below their recent lows. If the renewed stock market rally has legs, there will be plenty of opportunities for the bounce.
As IBD founder Bill O’Neill said, all stocks are bad unless they rise. There hasn’t been much of a good stock lately.
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