June 29, 2022

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Dow Jones Futures: Market Rally Steadies, Twitter Surges On Elon Musk Stake; Tesla Deliveries Hit High

2 min read

Dow Jones futures rose slightly Monday morning, along with S&P 500 futures and Nasdaq futures. Twitter (TWTR) skyrocketed Monday morning after Tesla CEO Elon Musk disclosed a 9.2% stake in TWTR stock.




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Tesla (TSLA) reported record first-quarter deliveries on Saturday, with the EV giant near possible buy points. China EV giant BYD (BYDDF) reported monthly sales above 100,000 for the first time.

The stock market rally is in the midst of a modest pullback after a strong run from mid-March lows.

The major indexes still look healthy. But investors should be cautious about new buys in the very short term and be ready to exit positions if they aren’t working. Growth and shipping stocks ran into trouble late last week, such as Dutch Bros (BROS) and J.B. Hunt Transport Services (JBHT).

Apple stock, Exxon Mobil (XOM) and SolarEdge Technologies (SEDG) are setting up near buy points.


Tesla Vs. BYD: Which Booming EV Giant Is The Better Buy?


Tesla stock is on IBD Leaderboard and the IBD 50. XOM stock is on the IBD Big Cap 20, which is full of energy and commodity names. The video embedded in this article analyzes the market rally and discusses Apple (AAPL), JBHT stock and SEDG stock.

Elon Musk Takes Twitter Stake

Tesla’s Elon Musk disclosed a 9.2% passive stake in the social-networking company, according to an SEC filing. Musk is now Twitter’s largest shareholder. Twitter shot up over 20% in premarket trading, signaling a move back to its 200-day moving average.

Musk has tweeted in recent weeks about creating his own social network.

China Delisting Threat Over?

Beijing is signaling that it will back down vs. the U.S. over accounting oversight, easing delisting fears.

China’s securities regulator said Saturday it would release revised regulations for Chinese companies listed overseas. Notably, this line will be removed from the rules: “On-site inspections shall be conducted primarily by Chinese regulators or rely on the results of inspections by Chinese…



2022-04-04 08:12:05

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