Dow Jones futures rose late Tuesday, along with S&P 500 futures and Nasdaq futures. The stock market rally pulled back on Tuesday, and hit resistance in a normal area after Monday’s big bounce. But the major indicators found support at normal levels.
Stock growth did not have a good day. Zoom in the video (ZM) And the Targeting (TGTHe suffered bad setbacks after earnings. Tesla (TSLARivals New (NIO), Xpeng (XPEV) And the Lee Otto (In theSold on the news as electric car stocks grapple as the traditional auto giants General Motors (GM) And the stronghold (FMake upward moves.
while, Missile companies (RKT) Lives up to its name. RKT stock rose 71% to 41.60, setting a record high as a short selling mortgage lender became the latest social media-driven lobbying game. Rocket shares jumped 10% on Friday after strong earnings, then 11% on Monday. In overnight trading, the RKT stock is down slightly.
Maravai’s earnings beat consensus as the company creates a pool for Pfizer (PFE) And the Biotechnology (BNTXCoronavirus vaccine. Maravai sees 2021 revenue more than double. MRVI stock jumped about 20% overnight, indicating a fresh rally after shares closed down 3.9%.
Veeva’s earnings Revenue topped estimates, given an upward direction. VEEV shares rose in extended trade. Stocks tumbled 2.2% on Tuesday, near the 50-day line after a failed breakout in late February.
FuboTV reported Bigger than expected loss, but outpaced revenue and subscriber growth. FUBO shares fell in overnight trading. Stocks rose 8% on Tuesday, regaining the 50-day streak and breaking a downtrend in a very deep handle in a very deep consolidation process. The sports-focused broadcast player is moving into the online sports betting game.
Dow Jones futures today
Dow futures rose 0.1% above fair value. S&P 500 futures rose 0.1%. Nasdaq 100 futures rose 0.1%.
The number of coronavirus cases worldwide has reached 115.25 million. The death toll from Covid-19 has surpassed 2.55 million.
The number of coronavirus cases in the United States has reached 29.35 million, with the number of deaths exceeding 528,000.
The White House now says there will be enough coronavirus vaccine available to every American by the end of May. The Biden administration sought to keep expectations low, even as vaccinations increased in January and February and with Johnson & Johnson (JNJA one-shot treatment is just getting started.
The stock market rises
The stock market rally gave back some of Monday’s strong and broad-based gains. The Dow Jones Industrial Average fell 0.5% on Tuesday Stock market trading. The S&P 500 is down 0.9%. Nasdaq Composite Index 1.7%.
Growth stocks took the brunt again.
between the The best ETFs, The Innovator IBD 50 ETF (fifty(Down 1.65%, while the Innovator IBD Breakout Opportunities ETF is down)fitSinking 2.3%. IShares Technology and Software Expanded Fund (ETF)IGV) Is down roughly 2%, and the Zoom stock was a notable component. (VanEck Vectors Semiconductor Foundation)SMHDown 3.1%.
Reflecting more speculative stories stocks, the Ark Innovation ETF sank 2.3% and the Ark Genomics ETF 1.9%.
Zoom in the video, invert the target
Zoom Video earnings shattered views late Monday, as the video conferencing giant gave bullish guidance on revenue. It also outperformed targeted earnings amid a boom in digital sales.
Zoom’s stock jumped 7.4% Tuesday morning – after rising more than 10% overnight – but turned lower almost immediately. ZM stock closed down 9% at 372.79, below the 50 day streak. It is not clear why Zoom is sold. But investors need to sell their technical indicators, not wait for negative fundamental news to appear.
The target stock also rose strongly shortly after Tuesday’s opening, bouncing off the 50-day line and clearing a downtrend, which are two strong signals to buy. But TGT shares declined after that Target management said it would spend heavily To boost the fast growing online operations. The target stock closed, down 6.8%, surpassing its lowest level Flat base.
Electric vehicle stocks are losing their fees
Nio stock fell 13% to 43.29. This is the lowest close since Dec. 14, late Monday. Reported by Nio A bigger-than-expected loss in the fourth quarter late Monday. The premium electric vehicle manufacturer had fewer deliveries for February compared to January amid lockdown and Lunar New Year celebrations. Nio also said that the chip shortage is taking a heavy toll.
Xpeng and Li Auto were down 11% and 8.2%, respectively. Xpeng and Li Auto also reported lower sales in February amid New Year’s celebrations, although deliveries increased threefold compared to the previous year.
Tesla stock fell 4.45% to 686.44, and hit resistance near a sharp downtrend. Shares jumped 6.4 percent on Monday. TSLA stock is well below the 50 day streak.
GM, Ford Stock Rev. Top
General Motors shares rose 3% to 54.11. On Monday, GM stock was up 2.4%, extending its retracement on Friday from the 10-week line, but also crossing the 21-day line of the downward sloping trend line. These factors provided an early buying opportunity, but is looking a bit stretched now.
Ford shares jumped 4.8 percent to 12.55, beating buy points at 12.14 and 12.25, surpassing last week’s three-year highs. The Relative strength line Ford stock is at its highest level in 52 weeks.
Both GM and Ford are profiting from sales of powerful SUVs and trucks while spending heavily on investors in electric cars.
Stock market analysis
On Monday, the Nasdaq recovered above its 50-day line, and closed just above its line 21-day exponential moving average And just below recent highs. The Dow Jones and S&P 500 jumped from the 50-day lines, clearly recovering the 21-day lines, not far from their levels at all. Volume on Monday was well below average and Friday’s levels.
On Tuesday, the Nasdaq fell from the 21-day streak. It closed near session lows, giving back more than half of Monday’s 3% gain, and returning to the 50-day streak. The large Nasdaq 100 index underestimated its fifty-day value. The Dow and the S&P 500 fell modestly, finding support at the 21-day lines.
With the major indicators hitting mainly resistance and support in normal areas, it’s tough to do a lot of Tuesday’s move. The stock market rally remains under pressure.
What are you doing now
Investors will likely keep exposure relatively low and be wary of any new purchases while the market direction remains in flux.
If the Nasdaq index breaks above its 21-day line and short term peaks, investors may start to be more aggressive. If the Nasdaq index decisively breaks below last week’s lows, the rally is likely to be over, resulting in a strong defensive stance.
Investors should keep an eye on sectors of the real economy and may want to allocate at least some of their portfolios to such stocks. They may lead the next stage of the market’s rally. Diversifying your leading stocks reduces the massive portfolio loss resulting from a heavy focus on speculative growth.
However, if the market falls into a correction, most stocks are likely to suffer. The relative strength in a market correction could be an absolute loser.
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